The India Legal Summit & Legal Awards 2017 announced winners for the year from the India’s legal fraternity and overseas.
One of the leading awards for the country’s business law community , it honours and recognizes achievements in professional practices across the legal industry.
Awards are being given out in a variety of categories such as General Counsel of The Year, International Law Firm of The Year, Best Taxation Banking Solutions, and Best Legal Advisory Services.
Conference On Legal Innovation Held
The summit also held a conference on the subject ‘Building Effective Business Legal Innovation’.
Business law is mostly known for its adherence to precedent, not to innovation. With burgeoning technological innovation, businesses in legal sector will need to incorporate technological tools.
The disruption being introduced by Artificial Intelligence (AI) is likely to have significant impact in the law industry by introducing automation, driving new practices in the industry particularly in the area of eDiscovery.
The change can be challenging for law firms, but the companies have to recognize the repercussions of not investing in the technology since it will hinder their ability to compete effectively in the legal market.
The summit was primarily focused on bringing together the legal fraternity for sharing ideas on India’s legal framework and developing strategies to manage legal business efficiently.
Technology Likely To Change the Industry
The jury comprised of eminent legal personalities like Mahaveer Singhvi, Director, Ministry of External Affairs, Lalit Bhasin, President, Society of Indian Law Firms, Mr. Soli Sorabjee, Former Attorney General of India Mr.Badrinath Durvasula, Senior Vice President at Adani Group and Mr. Pranav Mago, Head (South Asia),Singapore International Arbitration Centre
In his address in the event, Mr. Soli Sorabjee noted that technology was changing learning methods and education with tools like computer, video conferencing tools, mobile apps making it easy to communicate across the world. He pointed out that the world was going digital and the aim should be to “use the technology to make a world better place.”
According to Lalit Bhasin, this was the first time that such an innovative theme was being discussed.
He noted that the panel discussion had been fruitful as it allowed more people to under how technology was impacting law. He also introduced the concept of “Co-opetition” which he said was a combination of “competition and cooperation “ which was a “mutually rewarding association” that would be beneficial for strengthening the rule of law.
Biz Integration organized the India Legal Awards event, with the support of Society of Indian Law Firms and also Singapore International Arbitration Society.
