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Lawyers on alert

Business risk levels have rarely been higher

The world seems more beset than usual by war and conflict, tense border standoffs and flashpoints of regional conflict, not to mention misinformation, tech disruption and cyberterrorism, and now the evolution of AI. Politically, some major elections are forthcoming and, in the region, governments have changed and are changing, while ideologies continue to clash over trade and sovereignty.

With many of these issues presenting unique challenges to both in-house and external lawyers, our Cover story titled Risky business asks about the risks that directly concern them, and their strategies for managing these risks.

The role of in-house counsel is becoming more important as companies navigate complex risks across multiple jurisdictions. The senior in-house counsel and external lawyers that Asia Business Law Journal spoke to emphasised the need for effective risk strategies including diversified supply chains, due diligence on regulatory changes, and exit plans in emergencies.

Our Intelligence report, titled A mixed blessing, is the second article of a two-part series exploring the advantages and disadvantages of using AI technology in the legal sector. Prominent lawyers across the region give their views on the impact of AI on billable hours, and handling more work in-house. This article is a must-read for anyone who is contemplating the use of AI for legal work.

This issue¡¯s Asia-Specific explores the exodus of law firms, particularly US firms, from China. A sluggish market and data regulation concerns are commonly blamed for foreign law firms shutting up shop, but surprisingly a few outliers have chosen to sail against the tide and expand their operations. This article crunches the numbers and delves into why these movements are occurring.

It¡¯s also time to announce the winners of the Japan Law Firm Awards 2024. We congratulate 12 new winning law firms in comparison to last year, further highlighting that more and more new law firms are participating in Asia Business Law Journal¡¯s prestigious competition.

This issue¡¯s popular Regional guides focus on key developments in fintech, and e-sports & gaming. The fintech guide offers practical advice from legal experts in mainland China, India and Taiwan on the newest insights and trends in regulation. On e-sports & gaming, articles from mainland China, Japan, the Philippines and Taiwan offer a comprehensive analysis of the laws that control the virtual worlds of e-sporting competitions and gaming.

Our Head-to-head series this issue provides jurisdictional comparisons on key legal developments in insurance, taxation and e-commerce. On insurance, we compare developments in India and Japan; on taxation, we look at the latest from Japan and the Philippines; while on e-commerce, we explore updates from India and Russia.

Two Expert briefing articles explore Japan¡¯s thriving private equity market and its relationship with the Cayman Islands; and the implications of trade restrictions for foreign investment in Russia¡¯s car manufacturing industry.

Finally, we present the Thailand A-List, highlighting the top 100 lawyers plus 25 Legal Icons in the country. The list is selected by the independent research team of Asia Business Law Journal, based on nominations from clients at home and abroad, as well as their international peers.