Legal Tech Startup Singapore
ARLC Legal provides its clients with the appropriate legal resources and knowledge to manage and manage their businesses. “While this can speed things up, founders may end up with agreements that aren`t always in their best business interest, or have agreed to business terms written in legalese they don`t necessarily understand. That`s why we focus so much on training and empowering founders and why everything on the platform is written in plain English. This company was founded with a policy of keeping work simple and simple so that it is easier to follow, hence the name Vanilla Law. It is an international law firm that aims to reduce the complexity of legal work in an innovative way. In 2016, the company launched its own web platform, Vanilla Law Docs. It is an interactive web platform that allows its clients to insert relevant information to prepare the first draft of legal documents in return. Huifen is a technology lawyer who has worked in financial services, telecommunications, and research and development. She is very interested in the intersection of law and technology and wrote her master`s thesis on data protection and the Internet of Things (IOT). She is currently an Asia-Pacific advisor for the online payment business of a global ISP company.
ZHIANT is an on-demand legal outsourcing marketplace that offers small and medium-sized businesses a smart and easy way to scale their resources. A legal technology company is a company that offers software that can be used by lawyers to make the job easier and faster. The purpose of these services is to overcome the traditional way of doing corporate legal work in a way that increases efficiency. Most of these companies are startups that offer different types of software that reduce the amount of work and time spent and make it fast and efficient. Such software solves various types of purposes such as maintenance, management and identification of legal documents. Some software also offers CRM functionality and chatbot functionality. And then there are some data security tools. All these elements together improve the efficiency of the work of law firms as well as the in-house legal departments of companies.
LawSikho has created a telegram group for the exchange of legal knowledge, recommendations and various possibilities. You can click on this link and sign up: In fact, startups in Asia Pacific are raising more investment than ever before, with some estimates suggesting that the startup ecosystem could be worth $1 trillion by 2025. For Low, the region is important and especially Southeast Asia`s burgeoning startup ecosystem is an important goal. Thank you Linda for sharing her story – watch the FirstCOUNSEL team at your next community kick-off event and say hello! With legaltech platforms, founders and SMBs spend a fraction of the cost of a traditional law firm using automation and customization technology to create law-compliant employment contracts that meet local law standards while protecting IP addresses. FLIP is another major initiative of the Singapore government in this direction. It is established by the Singapore Academy of Law with the support of the Government of Singapore to promote the use of technologically advanced resources by the legal industry across the country. It brings together lawyers, government agencies, technologists and incubators to develop new and futuristic solutions for courts, law firms and in-house lawyers. Singapore`s Ministry of Justice, along with the legal industry, have also launched the Tech Celate program with a budget of $3.68 billion, under which they pay 70 percent of the costs for the first year of companies that integrate technology software into their most important work executions. This shows how serious the government is when it comes to making the country a smart nation and has not left the legal industry behind in this process.
As we`ve seen, given the type of successful startups in Singapore, it`s obvious that the legal tech industry in Singapore has thrived in recent years. The Covid pandemic has only given it an extra boost. Singapore`s Legal Tech industry had already introduced many innovative processes to get the job done more efficiently. The pandemic created the need for such resources on a large scale, and Singapore was ready to offer them. Not only that, but the environment created by the economy as a whole with government support is a great incentive for businesses that bring innovation to support economic growth. Let`s take a look at some of the key factors that make Singapore the best place to start a legal tech startup: As a technology platform that automates legal startups and early-stage small businesses, SeedLegals brings reliability, transparency, and efficiency to the daunting legal aspect of corporate governance. The platform allows users to create start-up contracts and agreements. The fully technological platform directly integrates digital tools such as electronic signature, data room and cap table management.
Follow us on Instagram and subscribe to our YouTube channel for more amazing legal content. GITSG: Is that why you came to FirstCOUNSEL? Linda: Yes, I joined FirstCOUNSEL because I believe entrepreneurs and SMEs are underserved and we need to help them access affordable legal support. FirstCOUNSEL is a legaltech start-up whose mission is to transform the way legal support is delivered to the early-stage economy, enabling them to successfully launch, run and grow their businesses. “With borders on the horizon for most countries, momentum will only accelerate in the coming months, and we want to solidify our place in the growth story of the region`s startup ecosystem. SeedLegals intends to make a significant contribution to the growth of the region`s startup ecosystem by investing in relationships with a range of partners, from accelerators and incubators to business service providers and professional services firms, to build a connected ecosystem to support the startup community, with a strong focus on collaborative educational efforts. “Low mentioned. Developed as software and solutions for lawyers, automated legaltech databases and contract management tools. 73% of general counsel and corporate lawyers in Asia Pacific who have adopted Legaltech said they want to increase their use of technology, while 33% believe Legaltech will be a big change in the legal profession over the next five years. The Singapore Law Academy offers trusted lawyers who stand the test of time and the vision to make Singapore the legal centre of Asia.
“Unfortunately, not all startup founders have the legal training, expertise, or time to understand the legal documents and contracts they need. SeedLegals is designed to make legal services accessible to founders, while allowing them to understand their legal requirements and help them make informed decisions,” commented Low. Certain sectors constitute the basic structure of an economy, and law is one of them. There is no economy without law and so it is important to let the legal industry develop. Lawyers recognize the fact that the contribution of technological progress to the legal industry is on the agenda. So if you`re someone who wants to bring your ideas and research in that direction and get to know a great ecosystem to work in, then Singapore is the best place to start. This country is serious about becoming a smart nation and promotes such developments with many initiatives.
