SINGAPORE: Last year, a man-versus-machine showdown took place in the United States. 20 top corporate lawyers from across the country were pitted against an artificial intelligence (AI) software developed by legal technology firm LawGeex, where they reviewed and approved everyday contracts over a period of two months.The results were astounding. The AI notched a 94 per cent accuracy rate, compared to the human lawyers’ 85 per cent. For one of the tasks — to review five non-disclosure agreements — the five human lawyers took more than 90 minutes.The longest time taken by an individual lawyer was 156 minutes and the shortest 51 minutes. In contrast, the AI took a mere 26 seconds.While AI is unlikely to replace human lawyers anytime soon, if at all, the outcome reflects how this cutting-edge technology can play an important role in the Bar.Indeed, other forms of technology have already made their presence felt in Singapore’s legal sector.For the past decade, local … [Read more...] about The Big Read: Rise of the machine — how technology is disrupting Singapore’s law firms
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By Kristine Owram Bloomberg Wed., Nov. 21, 2018 The legalization of cannabis in Canada may have diminished the need for criminal lawyers, but it’s created a booming business for the country’s most prestigious corporate law firms. The cannabis sector has seen 27 major deals worth $10.6 billion (U.S.) announced this year, according to data compiled by Bloomberg. Add in 127 stock sales worth $2.65 billion, and advice to clients on how to navigate a complex new regulatory environment, and it’s been a boon for Toronto’s biggest law firms, many of whom had regarded it with trepidation for years. “I’ve never seen an industry start to dominate our practice in the way that this one has,” said Patricia Olasker, partner at Davies Ward Phillips & Vineberg LLP. “It’s unprecedented in the lifetime of most practicing lawyers.” Davies ranks first among its peers for working on $5.8 billion worth of cannabis M&A this … [Read more...] about Pot is becoming an earner for once reluctant Toronto law firms
By Alex Ballingall Ottawa Bureau Sat., April 21, 2018 OTTAWA—Nicola Di Iorio sleeps five hours a night, but he says that’s enough to keep his motor going overtime — which is exactly what he has to do. For not only is he the federal representative for some 114,000 Montrealers, he maintains a side hustle as an active litigator who co-manages a gaggle of labour lawyers at a firm in Quebec’s biggest city. The Liberal MP for St-Léonard—St-Michel is, in effect, moonlighting as a labour lawyer, making him one of the few members of the House of Commons who have declared income from second jobs since the 2015 election, according to a Star analysis of records published on the federal Conflict of Interest and Ethics Commissioner’s website. In Di Iorio’s case, he also teaches classes at a local university, volunteers for three non-profit organizations, and is writing a book on labour law. “MPs ought to keep something … [Read more...] about Moonlighting MPs: Does your representative in the House of Commons have a second job?
RIGOBERTO D. TIGLAO RAPPLER, Inc., massively funded by foreign entities, is now practically a fake corporation, peddling fake news about itself. All but two of its seven board members in 2016 have abandoned it, with one, Glenda Gloria, on an academic fellowship in the US until September this year. That leaves it without a functioning board, and therefore according to our corporate laws, no longer a genuine corporation that can conduct business in the country as a “juridical person.” Only its “chairman” Manny Ayala—who is also a director of the Energy Development Corp., owned by the Lopez clan that had been supporters of President Aquino—and its editor Maria Ressa remain to claim as its board members. The Corporation Code requires corporations to have a minimum five members in its board of directors. In Rappler’s “About Us” section, it lists only its “2014-2016 Board of Directors.” Aside from Ayala, Ressa, and Gloria, … [Read more...] about Rappler is now a fake firm peddling fake news
Daymond John grew his clothing line FUBU from a few sewing machines in his mother’s house into a $350 million company. In 2009 he became one of the original celebrity investors on the hit TV show “Shark Tank.” He’s invested millions in a variety of companies, written books, and opened a coworking space in Manhattan. His newest title, “Rise and Grind,” looks at examples of people who succeeded despite the odds. Daymond John grew up in Queens, New York, where he dreamed of making clothes for the coolest, most famous rappers. That dream became a reality in the 1990s when FUBU became one of hip-hop’s hottest brands. He started off with nothing, turning his mom’s house into a factory, using graffiti as marketing, and talking his way on to the sets of music videos. John built FUBU into a global brand that brought in $350 million in annual sales at its peak. In … [Read more...] about Daymond John reveals how he started a $350 million business out of his mom’s house, became a ‘Shark Tank’ star, and gained a new perspective after beating cancer