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E-business: design an effective legal strategy and risk management framework

The emergence of the so-called ''internet economy''(1) and the e-business (2) revolution necessitate a different way of thinking about the traditional way in which legal advice is provided to clients of law firms. In fact, some aspects of the practice and management of law as we know it today has to be fundamentally realigned to face new challenges and new models of businesses in the electronic business environment.

2 October 2001

The emergence of the so-called 'internet economy'(1) and the e-business (2) revolution necessitate a different way of thinking about the traditional way in which legal advice is provided to clients of law firms. In fact, some aspects of the practice and management of law as we know it today has to be fundamentally realigned to face new challenges and new models of businesses in the electronic business environment.

I hold the view that as e-businesses become increasingly entrenched in the fabric of our economic life, lawyers must go beyond being good 'legal technicians' and transform themselves into effective e-business legal strategists in advising their clients as the latter make their inroads into the e-business world.

While legal issues do not drive e-businesses most of the time, it is often one of the critical success factors. I would suggest that we need a new way of thinking about strategising legal service delivery in e-business for...

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