Even as generative AI sweeps the globe, Indian law firms have been slow to embrace it. Those that have done, though, are encountering lower costs and shorter turnaround times. But as with any new technology, it’s critical that firms move carefully. 

It’s been a record-setting year for India’s IPO market, and law firms have reaped the benefits, representing issuing companies and lead managers. And the party isn’t expected to end any time soon: Lawyers believe there is a lot more is to come in 2024 despite the upcoming general elections. 

India has experienced a record year in terms of patent filings and grants as per the latest international and government indicators, signalling an increase in innovation-driven growth in the country, and a rise in demand for technically savvy lawyers.

As in other years, ALB has identified top-notch intellectual property lawyers in India, acknowledged for their handling of cutting-edge legal matters and exceptional performance, with the selection being made based on submissions received by ALB. The list is in alphabetical order, and certain lawyers have been profiled.

During a technological revolution, the legal industry plays a pivotal role in ensuring continuous innovation by protecting intellectual property. In this context, two prominent intellectual property lawyers in the country shed light on the unique challenges faced by India’s IP market, providing insights into how their practice is navigating the growing challenges of IP protection in the digital age. 

The year gone by was a big one for the Indian legal market. The market opened to international law firms and disruptive technology-based tools and practices. More lawyers set up specialised firms, and in-house counsel got a lot more sophisticated. Continuous regulatory reforms promised new work as transactional lawyers looked to adapt to a global slowdown and a funding winter. Law firms say that 2024 will bring more investment in in-house capabilities, adoption of technology, focus on new laws like data privacy, and increase of sectoral and business knowledge. 

SGBS Unnati Foundation, a Bengaluru-based not-for-profit organisation (NPO), became the first such entity to be listed on India’s social stock exchanges (SSE) just a year after the authorities allowed for such listings in order to promote a transparent and credible way for NPOs to raise funds

India’s top competition regulator, the Competition Commission of India, has been leading the charge to modernise the country’s laws to bring them in line with India’s ever-evolving digital business environment.

The Web3 industry, covering the wide ambit of blockchain, crypto, DeFi, and now vying to engulf AI as well, is notorious for functioning in the grey. Mass media often associates it with the black market, dark web, and scams.

The pandemic might be (almost) over, but the sense of unease remains strong in Asia’s legal industry. While life might have returned to normal, and supply chains appear back on track, the region is continuing to experience uncertainty over slowing global economic momentum, tightening monetary policy affecting credit growth, and lingering concerns about inflation. China’s seemingly irreversible economic decline is also hanging heavy.