Law Firms Appear to Love China’s Belt-and-Road Initiative: “Its a gold rush”

China law lawfuel

The China-US trade war may be heating up, but for law firms operating in the Asia Pacific area, the business has been good, in particular the China Belt and Road Initiative, the subject of considerable controversy among most Western countries.

The Initiative, along with the Greater Bay Area Development are two of the major Chinese lead factors helping lift law firm profitability in the Asian arena, where competition has been tough.

Justin D’Agostino, the executive partner at Herbert Smith Freehills, said the projects had created major opportunities, saying it “is like the gold rush for the 21st century. It is massive, and everyone is involved. It is also not reliant on the US”.

The Financial Times, which recently announced its Innovative Lawyers Apac Awards saw Herbert Smith Freehills enter the top spot again, making a “systematic” initiative to develop its diversity and inclusion.

The FT report noted – \

A separate initiative shows how the firm is breaking down the traditional hierarchies usually found in law firms in which partners rule the roost. Junior lawyers conceived and designed a coding course with Melbourne’s RMIT University, a technology and science-focused institution, and persuaded the partnership to support them.

The three-week course teaches HSF lawyers how to use blockchain technologies and get up to speed with smart contracts. The university is considering making the course part of the broader curriculum for all law students.

Australian Firms Showing the Way

The success that HSF has had with its diversity and other programmes has seen the firm ask staff for ideas in order to stay relevant to the key parties – staff, clients, the community.

The suggestions permit the lawyers 10 days ayear to focus on innovation projects. It is this sort of thinking, also characterised by the local award winner Gilbert + Tobin, that has indicated that some of the Australian firms are showing the way to their UK counterparts.

G+T has been heavily focused on dealing with technology with a firm focus on digitising their offerings. Like HSF, the firm permits significant time to its lawyers to work on innovation projects.

Innovation Law Winner

Gilbert+Tobin’s Sam Nickless was recently voted as the most innovative Asia-Pacific individual of 2019, as a lawyer who never practiced law but has helped him develop lawyers as the ‘offensive weapon in the war for clients”.

Gilbert + Tobin came top of the Asia-Pacific headquartered FT innovation rankings, as below –

In an increasingly competitive legal marketplace, seeing the former McKinsey consultant voted into the role was also a development that saw him as an outsider in the role.

Joining G+T as chief operating office following a two decade career in non-law businesses, he was promoted to partner in 2017 when the firm dominated the Asia-Pacific Innovative Lawyers rankings.

Among the projects that have been pushed via G+T’s programme have been the development of project management software and new roles which have permitted some lawyers to split their time between lawyering and innovation.

It has also been a development that has let career paths develop so that lawyers can experience working on new projects apart from the usual mainstream work that would normally be expected of a large law firm.


LegalTech: New Start-Up To Help Lawyers Automate Themselves

Talking bot lawfuel

Another new legal ‘bot’ to enter the online world is Melbourne-based startup Josef, which has just closed a $1 million funding round and is set to roll out its bots across major law firms globally.

The JosefLegal team celebrating their funding

Josef started its online life helping community law centres to better use their online resources and communicate more effectively but it ha snow moved more to help in-house lawyers and others to communicate more effectively via automation.

The company’s clients now include top-tier commercial firms, plaintiff firms, government, in-house legal teams and community legal centres across North America, Europe and the Asia-Pacific, according to a recent report in The Legal Forecast.

Co-founded by former Arnold Bloch Liebler lawyer, Sam Flynn, AI expert Kirill Kliavan and chief executive Tom Dreyfus, the additional funding has come from venture fund Jelix and angel investors including Kara Frederick, the managing director of Tiger Financial Group and Ben Armstrong, formerly of Telstra Ventures.

“These funds will enable us to continue building up the power and sophistication of our legal automation platform,” said Tom Dreyfus. “When it comes to ease-of-use, both for lawyers and for their clients, we’re relentless. We’re matching our mission to make legal services more accessible with a vision for the industry in which Josef is used by every lawyer everywhere, whether they are in Big Law, in-house or working at a public interest organisation.”

Josef is intended to provide a platform that can automate communications between lawyers and clients, as well as assisting with legal advice and legal document drafting.

The company has developed 600 bots that can deal with a wide range of legal issues ranging from employment law, environmental law, start-up law, health law, commercial law, bankruptcy, consumer law and more.

Big Firm Use

Larger firms are using Josef to build specific bots to handle repeat or common issues, which can be embedded in client organisations to provide an easier customer experience. According to Flynn the company will soon be rolling out a range of applications for major law firms to deploy.

Herbert Smith Freehills already uses the platform.

Mike Gonski

“I believe that Josef are onto something big,” said Herbert Smith partner Mike Gonskispeaking to LegalTechnology.

“My view on the future of law is that lawyers need to work out how to turn what they do every day into processes. Josef is the first software I have seen where the lawyer is empowered to turn their process into a chatbot or an app rather than needing to pay a developer to do it for them.

“That is game changing as it has never been worth the cost of paying the developer when right now it is cheaper to just do it the old-fashioned way and keep the process on a piece of paper or an excel spreadsheet. Hopefully chatbots will take off so that they can deal with repetitive, cookie cutter work and lawyers can spend their time coming up with bespoke, commercial solutions for their clients.”

Where To For LegalTech?

Sam Flynn

Speaking to the Legal Forecast, Sam Flynn said the legal industry is now moving from the ‘hype’ phase and taking the whole legaltech business more seriously.

“We’ve seen that in the chatbot space recently as well. Two years ago everyone said that chatbots were going to replace apps and do everything! But of course they were never going to do that. Chatbots do one thing. Apps another.

“Blockchain another. What we’ve seen in the past is that once you move past the hype (and the ensuing disappointment), you can actually get to work and get stuff done. We think we’re almost there in the legal world, and we can’t wait to be a part of it.”

Get Your Power Law News

Get the top law news weekly that's fun to read
Powered by Kit

About The Author