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What will the future of work look like? Indeed, what will the office of the future look like, particularly in the aftermath of the pandemic? These are questions that law firms, among other businesses, will likely be grappling with over the coming months and years. And with COVID leaving workplaces empty for prolonged periods, firms using this time to relook at their needs and options when it comes to workspaces.
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In May last year, six international law firms combined forces to create a set of universal best-practice arbitration guidelines. But Herbert Smith Freehills, Ashurst, CMS, DLA Piper, Hogan Lovells and Latham & Watkins were not aware that they would be releasing the draft protocol, which is out for consultation this month, in such a different climate.
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The COVID-19 pandemic has wreaked havoc across countries and industries, and the region’s legal services sector is not immune. Here’s how lawyers are currently weathering the storm, and what they need to do to rebound when it’s all over.
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With redundancies, pay cuts and the odd firm closing shop in Asia, lawyers in private practice face prolonged uncertainty. But while many firms are playing it safe and avoiding any additional costs, there are still a few that are hiring, and doing so strategically.
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The COVID-19 outbreak has had a devastating economic impact across the region, with businesses shuttered and markets crashing. To mitigate the impact locally, Singapore has responded by introducing a new bill that aims to ease economic pressures on businesses and individuals. The COVID-19 (Temporary Measures) Act, was passed in parliament in April, and is now fully in effect.
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As COVID-19 disrupts business and leaves lawyers working from home, one big impact has been on the mental health of legal professionals. Law firms say they are looking to bolster their existing resources to enable their lawyers to get through these uncertain times.
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Two international firms have announced their departures from Hong Kong— UK law firm Osborne Clarke will wind down its operations this month and U.S. law firm Orrick, Herrington & Sutcliffe will exit the market in August.
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The COVID-19 outbreak has severely disrupted normal life in Southeast Asia, forcing a big chunk of the region’s workforce to work from home, lawyers not exempted. But as the number of cases subsides in certain countries, and governments attempt to bring economies back on track, offices are beginning to reopen.
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Remote and flexible working arrangements have become a necessity for many businesses as COVID-19 continues to cast a shadow. Now, as such measures become more normal, firms are refining the formula.