"Lawyers can no longer be one-trick ponies," head says
Multinational law firm network Rajah & Tann Asia have launched a data and digital economy (DDE) regional sector group, a landmark offering which combines the group’s legal, technology, and cybersecurity services in a multidisciplinary approach that aims to effectively serve clients in the digital economy.
The DDE regional sector group will see Rajah & Tann Asia lawyers collaborating with allied professionals from Rajah & Tann Technologies and Rajah & Tann Cybersecurity – including cyber forensic experts, legal engineers, and data analysts – to deliver a comprehensive suite of data and digital economy services. The DDE regional sector group will pay special attention to transactions and disputes involving technology, data privacy, cybersecurity, blockchain and smart contracts, e-commerce, and trade and consumer protection.
Rajah & Tann’s head of technology, media, and telecommunications practice, Rajesh Sreenivasan, said that the launch of the DDE regional sector group was a “redefinition of legal service” and “recasting of deliverables”.
“Lawyers can no longer be one-trick ponies operating in silos,” Sreenivasan said. “Our clients are digitally transforming, and their intangible assets are increasingly becoming as valuable as their physical assets. Changes in their business model require us to know not only the law and understand the legal risks facing clients in the real world but also the commercial challenges they face in the digital economy and virtual domain.”
The DDE regional sector group launched just as Southeast Asia recorded a five-fold increase – or a 40% year-on-year growth – in e-commerce sales total value from 2016 to 2021 according to management consultant McKinsey & Company, once more proving that the region remained the world’s biggest driver in the data and digital economy.
Sreenivasan added that companies’ exploration of generative AI models to add value to their services was bringing the world on the brink of a seismic shift. At the same time, increased AI integration was bringing about new challenges across practice areas – from intellectual property and liability to shipping and international trade.
“My colleagues in [shipping and international trade] have been arresting ships. It’s … a very visceral task for them. But things have changed; they must now figure out how to go about securing digital assets,” Sreenivasan said. “With our DDE sector group, we will be able to draw on specialised regional legal and technical skills to deliver solutions to clients that carefully consider legal, commercial, and technological aspects.”
To showcase the DDE regional sector group’s capabilities, Rajah & Tann Asia recently hosted a forum titled ‘Data and Digital Economy Revolution: Reengineering Businesses for Success’ that brought together a panel of lawyers and experts who discussed the digital age and its effects on acquisition and expansion, due diligence for intangible assets, fraud, and cybercrime.
The forum doubled as an introduction to a 10-masterclass-seminar series to commence later this month. The seminars will cover topics such as AI, cybersecurity, and the valuation of intangible assets and intellectual property.
“Today’s digital economy is dynamic and throws up many issues that require a cross-border and multi-disciplinary approach – not just among lawyers from different practices but also with other allied professionals like technologists, legal engineers, data analysts, accountants, and valuers,” said Rajah & Tann Singapore managing partner Patrick Ang. “Our value proposition for our clients is being able to offer holistic solutions even while technology is moving at lightning speed and to assist them as they expand beyond borders.”
Rajah & Tann Asia brings together leading law firms and law professionals from China, Cambodia, Singapore, Indonesia, Laos, Malaysia, Myanmar, Thailand, the Philippines, and Vietnam, to provide locally based clients with seamless legal counsel and cross-border capacity across the region.
