Is the global economy heading towards a recession, or is this just a passing phase? As companies prepare to handle the turbulence, offshore jurisdictions have offered much-needed stability, at least in certain operational and regulatory aspects. With 2023 beckoning, offshore firms talk about how they are ready to help their clients tackle uncertain economic conditions and put in place strategies for the future.

Years in the making, Indonesia’s first comprehensive data protection law was finally passed by lawmakers on Sept. 20 as the COVID-19 pandemic prolonged the bill’s already thorny deliberations. That made Indonesia the fifth country in Southeast Asia to have its own data regulatory framework.

Cyber-attacks have been vexing law firms over the past few years: According to the 2019 ABA Cybersecurity Tech Report, 26 percent of law firms experienced a form of data breach, while the UK’s SRA believes about 75 percent of firms have been hit. But the threat to law firms extends beyond that, with incidents like power outages, equipment failures, terrorist attacks and natural disasters threatening infrastructure and sensitive data. Leaders say a comprehensive disaster recovery plan requires both hardware competency and a sharp level of alertness.

Intensifying climate disasters along with stark warnings by global scientists in recent years have illustrated a perilous future for the planet if inaction continues. Hurricanes, floods, heatwaves, and wildfires are wreaking havoc in advanced and developing economies alike, even though poorer countries often bear more of the brunt.

As most of the world starts shaking off the shadow of the COVID-19 pandemic, an increasing number of companies, including industry titans such as Apple and Tesla, are demanding an end to remote work and that employees return to the office. But some employers have found themselves still dangling hybrid options to lure back workers acclimated to the flexibility and autonomy of the work-from-home arrangements.

Renowned arbitrator and counsel Jern-Fei Ng now calls Singapore home after living in the UK for 25 years. The Malaysia-born star disputes lawyer shares with ALB about the trends and talents in Asia’s arbitration scene, and why he’s confident that the region will continue to grow as a disputes powerhouse.

With the pandemic resulting in a shifting of business priorities, Alternative Legal Service Providers (ALSPs) are having their moment in the sun. One segment that’s rising in prominence is that of flexible lawyers, who are able to provide in-house teams with a high level of expertise at a manageable cost. Players in this segment share with ALB how the pandemic is facilitating their growth, how they are staying competitive, and what the future holds.  

General counsel working in China’s financial sector have endured a particularly challenging period of late. On the one hand, regulation and innovation continue to intensify; on the other hand, new concepts such as ESG and green financing also require legal departments to employ new ideas to support the research and development of financial products. On top of that, in times of uncertainty, financial institutions are increasingly looking to their GCs to play a strategic leadership role. GCs in China’s financial sector discuss how these trends are impacting their work, and what they expect the future to bring.

As part of its green transition, the United States recently introduced a tax-break scheme that favoured domestically produced electric vehicles. This has excluded Asian automakers, which currently produce a significant number of the electric vehicles purchased in the U.S., leading them to accuse the Biden administration of breaching international law. Trade lawyers dissect the potential disputes arising from the law, the legal remedies in place, and the ramifications ahead. 

This annual ranking spotlights the top 15 IP lawyers across Asia, who have consistently delivered high-quality IP work and set high standards in the IP space, while earning accolades from their colleagues, superiors, and clients.