Clifford Chance launches legal tech innovation lab in Singapore
Clifford Chance (CC) has bolstered its legal tech credentials with the launch of a Singapore innovation lab, as more international law firms enter the burgeoning space in the city-state.
Dubbed 'Create+65', the innovation lab is part of the firm's Singapore-based Asia Best Delivery and Innovation Hub, which was launched earlier this year.
The venture is supported by the Singapore Economic Development Board and is operating in collaboration with the Singapore Academy of Law's Future Law Innovation Programme (FLIP) - a two-year pilot programme launched this year to encourage legal tech in the city-state.
In addition to providing an opportunity to work more closely with other participants, those taking part in the venture will gain insight on the latest legal tech developments, and receive feedback and mentoring from CC lawyers and clients.
Participants will also benefit from opportunities to partner with CC to develop new legal technology solutions that can be rolled out to the firm's global offices.
The magic circle firm said the launch will add further momentum to its pursuit of new technologies that have the potential to create significant value for clients and help evolve traditional law firm operating models.
The magic circle firm does have a track record in the legal tech startup space, which includes developing - and selling - contract automation tool CCDr@ft. Last week, CC, as well as Latham & Watkins, invested in Reynen Court - an Amsterdam-based tech venture dubbed the 'App Store for legal tech'.
Other global firms also recently made progress in the legal tech space, including its magic circle rivals. Both Allen & Overy's and Slaughter and May's London-based tech incubators, called Fuse and Fast Forward respectively, are currently on their third round of applicants. Linklaters and Clyde & Co were the first international firms to become members of Singapore's FLIP earlier this year.
CC currently operates in Singapore under the city-state's Qualifying Foreign Law Practice (QFLP) licence, which allows the firm to practice certain aspects of local law. The firm is among five firms whose QFLP licenses are due to expire in 2019. CC also has a formal law alliance with local firm Cavenagh Law.
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