Even the legal scene in Singapore looks set to move into the cyberspace arena in this era of the "new world economy" and Information Technology.
The Singapore Academy of Law has set up a Think-Tank on IT law to give input to the Government regarding the many challenges posed by information technology developments and electronic commerce. It will also promote awareness and proficiency in information technology and e-commerce laws in the Singapore legal profession. One of the main concerns of the Government is that inadequate legal skills and knowledge can impede the effectiveness of the judiciary and the Government has implemented measures to ensure that Singapore has relevant legal competencies to support business in the now crucial areas of information technology and e-commerce. One such measure is the opening up of the legal sector, allowing foreign law firms to enter into joint ventures or formal alliances with Singapore law firms in order to upgrade the legal capabilities in the banking and financial sector.
The Singapore Government has been actively initiating projects to make various industries, namely the financial and info-communications sectors more competitive, and this recent impetus in the legal sector is seen by many as an effort in line with the Singapore Government's initiatives in catalysing the digital transformation of Singapore's economy.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.