Daily Archives: May 14, 2021

I am hugely optimistic about our future, says Dr. Chen Fong, CM, MD, FACR, who will receive the Haskayne School of Business and Calgary Chambers 2021 Distinguished Business Leader Award on June 17.

We are certainly facing a substantial anexistential threat to our economy right now, but thats what it takes to get people to act, he says. There's a whole world of business opportunities out there. The resource industry has creative people who are innovating to create greener alternatives. There are areas where young people are using their brains to create whole new product lines and industries.

We can use human resources as well as natural resources to fuel the new economy.

Having invested in and mentored over 60 startups, Fong is uniquely positioned to see the glass as more than just half full.

After a successful career as a radiologist at the Foothills Hospital and the University of Calgary, he turned his passion in investing to a vocation. He helped to build Ultrasonix Medical Corporation, which was sold in 2012 and he is the co-founder of Pureweb Inc. Fong has since helped 11 groups to turn university-based intellectual properties into successful companies.

We are pleased to recognize Dr. Fongs outstanding achievements, says Brent Cooper, Calgary Chamber of Commerce board chair. By creating a community of innovators and helping them launch successful companies, Dr. Fongs work has created a ripple effect, making a tremendous impact in our economy.

In 2015, Fong joined the Creative Destruction Lab (CDL) at the University of Toronto as a Fellow. The mandate of the CDL is to commercialize science to benefit all mankind. CDL mentors help science and technology-based companies to rapidly achieve objectives to validate their product and scale their venture.

He is widely credited with launching CDL-Rockies at Haskayne, bringing together seasoned business leaders from Alberta, Canada and the U.S. to grow budding companies. Fong is now the co-chair of the Global CDL Strategic Board and Honorary Founding Fellow, CDL Rockies.

Chen is an outstanding connector who prefers to make others shine rather than taking the spotlight himself, says Dr. Jim Dewald, dean, Haskayne School of Business. CDL has been a platform for Chen to use his medical innovation knowledge, entrepreneurial mindset and deep connections to foster a whole new generation of ventures.

Fong was invested into the Order of Canada in 2017 for his contributions to medical technology innovation and philanthropy. He has been inducted as a laureate of the Alberta Business Hall of Fame and is a University of Calgary honorary degree recipient.

Fong sees CDL as a force that unites community in the common goal of accelerating the creation of new business. By bringing together startup incubators, business angels and venture capitalists in one place, CDL gets all players devoting their resources to scaling new ventures.

Another impact of CDL is how it engages seasoned business leaders in the mentorship of the next generation of entrepreneurs.

We have so many people now in the baby boomer generation who have so much experience and are now in the late stage of their own career, says Fong of the Mentors and Fellows mobilized in the CDL. Suddenly they figure out this new way to give back. So instead of people going to retirement they are a part of creating this culture of giving back to young people.

Fong will become the 28th recipient of the Distinguished Business Leader Award, which recognizes ethical leadership, career success and community service. The gala will be as unique as its recipient. The online format will bring together attendees from across Canada, Asia and Europe. Taking the spotlight will be four ventures that Fong has mentored or successfully helped to pivot.

The annual celebration raises money for the Distinguished Business Leaders Scholarship Endowment and Fong, in keeping with his driven style, is determined to exceed previous fundraising goals and has started with his own $100,000 contribution.

The gala is co-presented by Haskayne and the Calgary Chamber of Commerce, with support from gala partner Calgary Foundation. Tickets for the June 17 Distinguished Business Leader Award gala are now availablefree of charge for this virtual event. Donationsto honour Dr. Chen Fong as our Distinguished Business Leader are encouraged, to fund scholarships for future leaders and entrepreneurs.

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Human ingenuity is the engine of the new economy, says Distinguished Business Leader Award recipient - UCalgary News

Eating produce with the seasons can help consumers access fresher, more nutritious while directly supporting their local farmers and economies.

Eating seasonally often coincides with eating locally, Jerusha Klemperer, FoodPrint director, tells Food Tank. Local shopping and eating is more likely to be seasonal shopping and eating.

This also comes with a number of benefits. According to FoodPrint, seasonal foods can be fresher, tastier, and more nutritious than out of season produce because it is likely picked at its nutrient-dense peak, rather than harvested early and transported elsewhere.

Buying locally also helps lower consumers carbon footprint, because there are fewer carbon emissions associated with transporting that food shorter distances.

Money spent on local food also supports local farmers and farmland and contributes to the local economy. Through farmers markets and Community Supported Agriculture (CSA), consumers can help local farmers.

To help everyone eat with the seasons and access local distributors, Food Tank is highlighting educational guides for consumers.

1. The Agricultural Market Information System (AMIS) Crop Calendar

First published by the Mexican Agri-food and Fishery Information Service in collaboration with AMIS, this online resource provides an in-depth report of wheat, rice, maize, and soybeans around the world. For each crop, the report provides a table for the seasonality of planting and harvesting across two years. The report includes information on each crop as well and has a secondary resource formatted in a table.

2. Cuerpomente Seasonal Calendar (Spain)

Cuerpomente is a Spain-based health and wellness community with a website and magazine. The seasonal calendar shows what fruits and vegetables are in season by each month, and even differentiates produce that is generally in season and produce that is at its peak The calendar comes with illustrated digital graphics and a user-friendly table. Users can also visit web pages for each month that provide more information about the in-season produce and its health benefits.

3. Das Bundeszentrum fr Ernhrung (BZfE) Germanys Seasonal Calendar (Central and Northern Europe)

BZfE, the Federal Center for Nutrition in Germany, provides a Seasonal Calendar of produce that can also be downloaded as a mobile application. The information of the foods provided also applies to most of central and northern Europe. While the website is available in German, English speakers can also find an illustrated version with translations in a drawing series here.

4. Eat Seasonably UK (United Kingdom)

The Eat Seasonably campaign, based in the United Kingdom (U.K.), is a nationwide campaign to promote the consumption of seasonal food. They offer an interactive, online calendar and free, downloadable calendar poster that contains all the seasonal information of produce in the U.K. The Eat Seasonable campaign also has online profiles of the current in-season produce and tips to help growers determine what plant that month.

5. FAO Ethiopia Crop Calendar for (Ethiopia)

The U.N. Food and Agriculture Organization(FAO) country profile on Ethiopias agriculture system also features a crop calendar. It includes the major types of cereals and Meher crops those grown during the main crop season. The full agricultural profile on Ethiopia also includes data on vegetation and precipitation indicators and threats to crops. Users can search the websites country profiles for any countrys agricultural data.

6. FAOs Searchable Crop Calendar Database (International)

The FAOs information tool for seed security acts as a searchable database for different crops and countries around the world. Users can search the database by crop, category of crop, or country. The results even differentiate between agro-ecological zones. The database incorporates information on 44 countries and more than 130 different types of crops. It also provides information on the sowing rates of seed and planting material and the main agricultural practices.

7. The FoodPrint Seasonal Food Guide (U.S.)

FoodPrints Seasonal Food Guide draws from a database of more than 140 types of fruits, veggies, legumes, nuts, and herbs. The Guide allows users to search for produce by location in the United States time of year or food item. It also includes information about each produce item including its nutritional value, environmental impact, appearance when most ripe, and length of peak freshness. Access the Seasonal Food Guide online or via a phone app.

8. Harvest Select the Best Produce (U.S.)

Harvest is an iPhone application that allows users to see what produce is currently in-season by inputting a location and month. It then provides a guide for selecting the freshest, ripest, healthiest, and best-tasting produce using visual, touch- or feel-based cues. Harvest also provides tips on how to best store the produce and how long it will stay fresh. Finally, the application provides estimated pesticide levels in popular fruits and vegetables.

9. El Libro Sabio de Las Frutas y Las Verduras (Spain)

The Spanish Government s Ministerio de Agricultura, Pesca, y Alimentacin, created El Libro Sabio de Las Frutas y Las Verduras, which translates to The Wise Book of Fruits and Vegetables. This resource provides a look into 24 fruits and 29 vegetables in an easy-to-read, family-friendly format. The book provides information about the produce, its production in Spain, its nutrition, and its seasonality.

10. LocalHarvests Community Supported Agriculture (CSA), Farms, and Farmers Markets National Directory (U.S.)

LocalHarvest provides online tools to connect people looking for local food with the farmers who produce it. Their National Directory provides a search tool that allows users to search for CSAs, local farms, farmers markets, farm stands, U-Picks, grocery co-ops, and more, by inputting their zip code. The directory contains over 40,000 entries and is used by over 7 million people each year.

11. Por Precio y Sabor, Prefiera Frutas y Verduras de Estacin Campaign by the Chilean Government (Chile)

This health campaign, translated to For Price and Flavor, Choose Seasonal Fruits and Vegetables, was promoted by the Ministerio de Agricultura for World Food Day. The campaign includes four graphs of of seasonal produce by geographical area of Chile: Norte Grande (Arica-Parinacota, Tarapac and Antofagasta), Norte Chico (Atacama and Coquimbo), Central (from Valparaso to Maule) and South (from Biobo to Magallanes).

12. SeasonEats (U.S. and U.K.)

SeasonEats is a mobile application providing seasonal data for more than 130 items of produce in all 50 U.S. states and the United Kingdom. Its design allows users to search by location and month, sort by location or produce, or view by the whole year. It is iOS supported and also has an Apple Watch App for searching on the go.

13. South Africa Seasonal Calendar (South Africa)

EatOut provides a visual infographic calendar of the seasonality of produce in South Africa. The printable calendar is beautifully illustrated and provides a month-by-month look at what produce is in season, in addition to a section dedicated to a list of produce that is in-season year-round. The guide contains 54 different types of produce grown in South Africa.

14. Supplemental Nutrition Assistance Program Education (SNAP-Ed) Seasonal Produce Guide (U.S.)

SNAP-Ed is a national grant program aimed at increasing nutrition education, social marketing, and policy, systems, and environmental change, and it can help people stretch their SNAP dollars further. The SNAP-Ed Seasonal Produce Guide provides an overview of the more commonly eaten produce sorted by season. The website allows the viewer to explore the different major fruits and vegetables through nutrition fact labels and external links to recipes, and other educational resources.

15. Union Freshs Seasonal Charts (Thailand)

Based in the Chiang Mai Province of Thailand, Union Fresh sources and distributes traditional Thai vegetables and tropical fruits. They provide a seasonal chart for both Thai Vegetables and Tropical Fruit for viewers all over the world. The color-coded chart features produce like carambola, mangosteen, rambutan, and durian.

16. U.S. Department of Agriculture (USDA) National Farmers Market Directory (U.S.)

Maintained by the Agricultural Marketing Service, the USDA National Farmers Market Directory is designed to provide customers with updated listings of farmers markets across the U.S. The directory can be searched within an adjustable radius around the users zip code. The directory provides farmers market information like market locations, directions, operating times, product offerings, and accepted forms of payment. Each listing has an external link to the website.

Photo courtesy of Jakub Kapusnak on Unsplash

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16 Resources for Eating Seasonally Around the World Food Tank - Food Tank

By Letter to the Editor on May 13, 2021.

Editor: The UCP governments sector by sector approach to economic stimulus (Lethbridge Herald 30 April 2021 MLA Neudorf presents partys sector-based approach for economic recovery) is out-of-date, and out-of-step.It is this narrow focus on promoting one industry absent a broader land use, environmental, social and public interest context that made Alberta a petro-state and has brought the current frenzy of opportunistic proposals for coal exploration and extraction in our Eastern Slopes.Thankfully many Albertans think more broadly.The public conversation about coal, in spite of government attempts to constrain it, has expanded to include long-term impacts of open-pit coal mines on tourism, recreation, human health, biodiversity and climate.No topic has evoked more concern than impacts on water.Water flowing down from headwater tributaries to the rivers of semi-arid southern Alberta and on to Saskatchewan is arguably our most precious natural resource.Water is the life blood of another industry sector being narrowly targeted for UCP government stimulus irrigation agriculture. The provinces announcement in fall 2020 of an $815 million deal with the Canada Infrastructure Bank and eight irrigation districts in the Bow River and Oldman River basins boasts plans for new pipelines, reservoirs and a 15 per cent increase in irrigated acres. The amount of water needed to irrigate an additional 208,000 acres of cropland dwarfs the amount that would accommodate coal mine development.Irrigation agriculture over the past 120 years has acquired licenses to withdraw over half of the mean natural annual flow in the Oldman River and Bow River that converge to form the South Saskatchewan River.This one sector controls three quarters of all water allocated in these basins.Because of over-commitments, since 2006 no new allocations have been allowed for any purpose because of risk of shortage for meeting existing commitments including a requirement to pass half of mean natural annual flow to Saskatchewan.Rivers in southern Alberta are suffering from huge amounts of water extracted by the irrigation agriculture sector especially during prolonged dry periods.With climate change, stress on rivers is predicted to increase as is the risk of shortage to meet existing licensed allocations and accommodate future population and economic growth.Broad-thinking Albertans are asking how best to manage demand on our limited water resources to reduce, not increase, environmental, social and economic risk today and in the future.Were these impacts or forgone opportunities for other sectors of our economy considered in governments decision to focus on stimulating expansion of the irrigation agriculture sector?Those of us who have asked are still waiting for answers.Cheryl BradleySouthern Alberta Group for Environment

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Albertans want to know how to manage the demand on limited water resources - Lethbridge Herald

Santo Domingo, May 12, 2021 -The Dominican Republics Ministry ofFinance and Ministry ofEnvironment and Natural Resourcessigned a landmark agreement today with the WorldBanksForest Carbon Partnership Facility(FCPF), unlockingpayments ofup to US$25millionforverifiedcarbon emissionreductionsbetween now and2025through the countrys emissions reduction program.

This agreement is a country achievement, a reason for celebration and progress in the fight against the challenges of climate change and is the result of four years of preparation of the Program for the Reduction of Emissions from Deforestation and Forest Degradation (REDD+), which will be implemented by the Ministry of Environment and Natural Resources, with the direct involvement of the Ministry of Agriculture and the Ministry of Economy, Planning and Development (MEPyD), said Milagros De Camps, Vice Minister of International Cooperation of the Ministry of Environment and Natural Resources.

TheDominican Republics Emission Reductions Programis a nationalinitiativefocused onloweringforest emissionsfrom deforestation and forest degradationacrossthecountry's4.8million hectaresof biodiversity and forest-rich land,to improve local livelihoodsand protectnatural ecosystems.With this Emission Reductions Payment Agreement (ERPA) in place,the Dominican Republicis expected to reduce5million tons offorest-related carbon emissions.

The Dominican Republic hasa long and rich history of protecting its natural resources, having dedicated significant efforts to the conservation and development of its forests,saidAlexandria Valerio, World BankRepresentativefor the Dominican Republic. This agreementis further proof of the countryscontinuedcommitment to sustainableforest management and economicdevelopment.

Thecountrys Emission Reductionsprogramwill work with the government and civil society tostrengthensustainable agroforestryinitiativesthataimtocurb agricultural expansion into forest areas.The program also aims to promote broader andmoresustainable natural resource management that can contribute to the growth of small and medium-sizedforest enterprises, and the conservation of forests.

The Dominican Republic is thethirdcountry in Latin Americaand the Caribbean(after Chile and Costa Rica)and 14th globally to reach such a milestone agreement with the FCPF, which together have unlocked nearly $670m in results-based financing. ERPAs are innovative instruments that incentivize sustainableland management at scale and help to connect countries with other sources of climate financing. The resources from the FCPF provide new opportunities to conserve and regenerate forest landscapes and biodiversity while supporting sustainable economic growth, which is critical forthe Dominican Republics development going forward.

The Forest Carbon Partnership Facility (FCPF) is a global partnership of governments, businesses, civil society, and Indigenous Peoples' organizations focused on reducing emissions from deforestation and forest degradation, forest carbon stock conservation, the sustainable management of forests, and the enhancement of forest carbon stocks in developing countries, activities commonly referred to as REDD+. Launched in 2008, the FCPF has worked with 47 developing countries across Africa, Asia, and Latin America and the Caribbean, along with 17 donors that have made contributions and commitments totaling US$1.3 billion.

Website:https://www.worldbank.org/en/country/dominicanrepublic

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Dominican Republic Signs Agreement with the World Bank to Curb Carbon Emissions and Reduce Deforestation - World Bank Group

For global commercial lawyers, advising on cross-border deals between local investors and foreign capital raisers is difficult at the best of times. But when the deal involves US and Chinese interests in the middle of a trade war, risk rises to a new level of complexity.

So, Ting Wang, of counsel at law firm Paul Hastings in Shanghai, had a challenge on his hands when his team tried to broker a strategic alliance between Chinese health group Fosun Pharma and Nasdaq-listed BioNTech to help develop and commercialise a Covid-19 vaccine.

Scroll down to read case studies in the following categories: healthcare; digital advisers; frictionless law; liquidity and finance; and legal design

At the time of the negotiations, Germany-based BioNTechs designs for the vaccine were unproven and a deal with US pharmaceuticals group Pfizer had yet to be signed. Fosun offered co-development resources and clinical trials in China in exchange for distribution in the region. BioNTech wanted a sizeable equity investment and access to patients, who initially were found predominantly in China. To reach a deal as the virus spread required significant cultural and legal differences to be bridged, recalls Wang.

Both parties had to step outside their comfort zones to reach compromises, he says. It required exceptional cultural sensitivity and an understanding of three very different legal systems. Under the agreement, Fosun paid $85m in licensing fees and made a $50m equity investment in BioNTech.

Communicating with parties across China, Germany, the UK and the US before the widespread use of Zoom video calls was a challenge for negotiators used to face-to-face interaction. Yet the deal was made within three weeks, over the phone from home and under lockdown.

Yong Kai Wong, now a co-general counsel at Citic Capital, has also played a leading role in cross-border transactions during his career both for Citic, where he heads special projects, and previously for Dutch pension company APG Asset Management Asia.

He says general counsel who are effective in cross-border deals are aware and sensitive to different cultures, beliefs and the societal implications for stakeholders. Lawyers need to be creative, adaptable and conscious [of] the needs of both sides of the deal not just focused on the legal and compliance issues, Wong argues. Often, decisions at the transaction level may have a large impact on stakeholders and the constituents around them. It is important to try to keep an open line of communication with all relevant parties to proactively address issues that inevitably arise.

Lawyers need to be creative, adaptable and conscious [of] the needs of both sides of the deal not just focused on the legal and compliance issues

Parallel to the US-China trade war, Europe was also making moves to protect itself from economic threats from abroad. By the time the pandemic took hold, the European Commission was calling for tougher measures against foreign takeovers, fearing that raiders might take advantage of wild market fluctuations wreaked by the pandemic. Caught in this net were two deals that law firm Freshfields Bruckhaus Deringer had initiated in 2019. China Railways CRCC International Investment Group was trying to acquire a 75 per cent controlling stake in Spanish construction company Aldesa. At the same time, Guangdong Wencan Die Casting was proposing a 251.3m public tender offer for French global foundry group Le Blier, which had dealings with Frances defence ministry.

Freshfields partner Yuxin Shen says the firm sets out to advise clients on the operational and cultural commitments they should make to assuage European concerns. Even so, the new restrictions posed problems. Although the CRCC-Aldesa deal had been signed before the EU policies had taken effect, the Spanish government chose to review it anyway. Meanwhile, in France, the new policies added to uncertainty over its foreign investment review regime and hopes for the Wencan-Le Blier deal.

Freshfields engaged with the Spanish and French authorities to find a mutually acceptable position for each deal. These were new restrictions that even the various ministries were trying to come to grips with, says Hazel Yin, the Freshfields partner who advised on the Spanish deal. Our role was to help them understand why these deals were outside the parameters of the restrictions and did not constitute any threat to national sovereignty, economies or citizens.

Having multi-practice teams in China and Europe that not only understood the transaction but could also work with European governments helped greatly, says Freshfields partner Ninette Dodoo, who was involved in the French deal. You need to be able to see through the governments strategic lens, she says.

Charles Ruck, global chair of Latham & Watkins corporate department, believes Covid-19 has greatly changed dealmaking. Companies have responded to the pandemic conditions by rethinking their geographies, core businesses and supply chains, he says. With the growing complexity of high-profile cross-border deals...the commonality behind all successful mega transactions is a top-notch team of experts from around the world who can work together.

How will cross-border deals with China evolve? Kathleen Claussen who is a professor of law at the University of Miami and an expert on international trade, having worked on policy during the Obama and Trump administrations says the risk for US businesses accepting Chinese investment has evolved.

The present White House shares at least one view with the previous administration: it has said a lot more should be done to protect the supply chain, US businesses and American consumers, Claussen points out.

In the Obama years, a central policy tool to deal with China was the World Trade Organizations enforcement mechanism. UnderTrump, it was tariffs and sanctions. Its not entirely clear yet what the Biden administration will do.

In such a fast-moving policy environment, Claussen says, firms working on cross-border deals need expertise in public law as well as commercial transaction prowess.

She categorises the past six years of US policy as a series of trade tool experiments and counsels lawyers conducting cross-border transactions to be keenly aware of changes coming out of Washington.

Think about the risk implications of regulatory or policy shifts, Claussen advises. Pay attention to the relevant federal bodies and what they are doing.

Researched and compiled by RSG Consulting. Winner indicates the organisation won an FT Innovative Lawyers 2021 award; other organisations are listed alphabetically.

Lawyers have been helping pharmaceutical companies to overcome operational, regulatoryand risk challenges as Covid-19 vaccine programmes get under way.

WINNER: Latham & WatkinsThe law firm devised a financing structure to attract early-stage investment for CoronVac, the Covid-19 vaccine being developed by Chinese pharmaceuticals company Sinovac. This approach resulted in a substantial return to investors.

The financing structure involved loans converted into equity interest in Sinovac Life Sciences, a research and development subsidiary. Latham & Watkinss work resulted in a total of $515m being raised.

Anand and AnandThe firm succeeded in opposing pre-grant opposition to a patent sought by its client, Pfizer, in India. Opposition is a legal process that allows third parties to halt the award of a patent after an application is published.

The ruling means a party bringing pre-grant opposition in India must now establish its identity and show it has relevant domain knowledge, which will help prevent opportunistic parties challenging patents in future.

Baker McKenzie

The healthcare and life sciences team advised AstraZeneca on its Covid-19 vaccine rollout in Thailand, helping the Anglo-Swedish pharmaceuticals company to navigate legal restrictions and draft contracts to protect its interests.

Baker McKenzie also advised US immunotherapy company CytoSorbents on agreements that enable the use of its medical device to treat critically ill Covid-19 patients inChina.

Paul Hastings

The law firm advised Chinese pharmaceuticals group Fosun Pharma on a strategic partnershipwith Germanys BioNTech to develop a Covid-19 vaccine, which involved licensing BioNTechs mRNA vaccine technology.

The lawyers negotiatedthe arrangement in just three weeks, despite differing jurisdictional requirements and having to negotiate a combined equity investment and cash payment in order to get BioNTech on board.

Lawyers are using their expertise in blockchain, artificial intelligence and data to help clients with digital transformation and to accelerate their businesses.

WINNER: King & Wood MallesonsThe firm launched its digital economy legal service centre in November. This was set up to provide multidisciplinary, cross-practice area advice to clients on data use and compliance.

The centre has already helped one leading Chinese bank to design and implement its compliance programme for the European General Data Protection Regulation enabling it to share data between China and the rest of the world.

Anand and AnandActing on behalf of mobile technology company InterDigital, the firm filed the first anti-anti-suit injunction order in India. This is a court ruling to prevent a party pursuing an application for an anti-suit injunction.

Unlike in other anti-anti-suit injunction cases, the anti-suit injunction had already been granted by the court to Chinese electronics company Xiaomi. The ruling allows InterDigital to continue to pursue an infringement case against Xiaomi.

Nishimura & AsahiLast year, the firm set up a dedicated group that works across practice areas and industry sectors to help clients undertaking digital transformation.

The group advises companies on data, artificial intelligence, digital healthcare services and blockchain,as well as corporate governance andcyber security for public companies. Commended: Kazuhiro Takei.

Rajah & TannThe Singapore-based law firm launched a subsidiary, RTCyber, which provides a full suite of technical services to prevent or respond to cyber attacks.

This allows the firm to provide technicaland legal advice seamlessly to clients with concerns about cyber security.

Ropes & Gray

The firm advised Alibaba, the Chinese ecommerce company, on a strategic partnership with Richemont, the Switzerland-based luxury goods group, to establishFarfetch China as an upmarket online fashion retailer.

The$1.1bn investment in Farfetchallows Alibaba to providevirtual shopping experiences for customers and ishelping to accelerate the digitisation of the global luxury retail industry.

Law firms are using technology and data to enhance legal advice. By putting the user experience first, they have been able to solve problems and streamline processes.

WINNER: Yulchon

Corporate lawyers and legal operations executives used design thinking in which they start with end users in mind to collaborate on creating new tools. Their Incorporation Genie shortens protracted email exchanges with clients looking to set up new entities in South Korea. Clients can now access an online platform where they review and accept documents, and changes are automated, reducing the cost of legal advice by up to 50 per cent.

Yulchon has also created a dashboard for clients to navigate company maintenance requirements in South Korea.

Algo LegalThe firm developed VC Works, a technology platform to manage legal due diligence in venture capital transactions more efficiently and effectively. The tool enables the firm to complete due diligence three times faster than its previous process, which relied on lawyers going through paper files.

Allen & OveryThe law firm designed a free online portal to help individuals and companies that have been subject to a cyber attack retrieve their stolen funds. The tool enables users to freeze their bankaccounts automatically and also automates the process of notifying authorities in Hong Kong of any attack.

The portal has had more than 56 registered users from 19 jurisdictions.

Corrs Chambers WestgarthOn August 5 2020, all Melbourne residents learnt they would need a permit to leave home for work or childcare purposes. So the law firm helped National Australia Bank to secure 3,000 permits, automating their creation and secure filing, and setting up digital sign-off using the DocuSign esignature system.

The process was up and running within eight hours.

Gilbert + TobinEarlier this year, the law firm sold itsVerification product, developed in 2016, to legal tech company Litera Microsystems. Theproduct is used to verify documents in big corporate transactions. The deal marks one of the first times a law firm has developed and sold a piece of technology to a leading legal tech provider.