Launching the first legaltech accelerator is only the beginning of the industry’s digital shift.
Allen & Gledhill retains the top spot in the Singapore Business Review’s 25 Largest Law Firms with 386 legal professionals last year, compared to 372 in 2016, followed by Rajah & Tann Singapore LLP with 366 legal professionals in 2017, a 5.5% increase from the 347 recorded in 2016.
Rounding out the top 5 are Wong Partnership with 302 legal professionals in 2017, unchanged since 2016, whilst Drew & Napier LLC and Dentons Rodyk & Davidson LLP saw declines in the number of their legal professionals year-on-year to 256 and 200, respectively. Previous figures (in 2016) for the top 4 and top 5 largest law firms in Singapore were 267 and 206 legal professionals, respectively. Total number of lawyers dropped by 11.7% from last year’s 2,855 to this year’s 2,520. Morgan Lewis Stamford LLC suffered the biggest decline with its total headcount slashed by 11.
The decision of the Singapore Academy of Law (SAL) to launch the Future Law Innovation Programme (FLIP) in early January, a two-year pilot programme to encourage the adoption of technology, drive innovation, and create a vibrant ecosystem for legal technology in the city-state, marks the continuous efforts to bring the legal sector in Singapore to the next frontier: the technology space. This transition is, by all means and purposes, a necessary move as the legal landscape in Singapore looks to cement its position in the Asia-Pacific region.
Source: Singapore Business Review