We’ve mentioned them a few times over the last 12 months. They have now made the hallowed pages of Forbes.
Dragon Law Makes Creating Legal Documents In Hong Kong Affordable And Easy
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The line “The first thing we do, let’s kill all the lawyers,” (Henry VI, Part II, act IV, Scene II, Line 73) was not meant as a slight against corrupt peddlers of legal services, but more likely as a compliment to the law and order Shakespeare felt lawyers and judges brought to society. Regardless, the popular modern-day interpretation of the line speaks volumes about how much of society feels about attorneys today.
Like many of you, I used to harbor less than positive feeling about attorneys–until I needed to hire one. Now I have a huge amount of respect for the attorneys I work with. They provide services that are valuable to my business. I’m less enamored, however, with government regulations that force me into a position of requiring so many of their services. After all, attorneys are anything but inexpensive. Companies like LegalZoom and Rocket Lawyer have entered the legal space in the US to take care of simple and repetitive tasks at lower costs. Now a new startup, Dragon Law, is doing the same in Hong Kong, and as of June, 2015, in Singapore.
(Credit: iStock)
(Credit: iStock)
Dragon Law offers a cheaper and quicker alternative to hiring a traditional law firm by selling subscriptions to templates for routine contracts, empowering companies to do some of their legal administration themselves. The legal services startup launched in January of this year and has raised USD 1.5 million in funding. It boasts a staff of 30 people headed up by CEO, and former lawyer, Daniel Walker. Stephan Hablutzel is the most recent addition to the team, joining as COO, bringing with him 22 years of Asia-Pacific experience, most recently as managing director of consultancy firm Rhumb Line Management International. The company’s chairman is Jake Fisch, co-founder of entrepreneurial outfit NEST Hong Kong, which invests “in startups and the founders behind them.” The skills that Fisch and Walker bring to the company are representative of the company as a whole–Dragon Law is using technology to ease the burden of legal administration.
Central to its offering is software that guides clients through the process of creating their own legal documents. When I signed up to create an employment contract for a new hire, the software asked me questions, and once I answered them it presented me with a completed document, ready for electronic signature by myself and my new team member. The “DoubleCheck” service Dragon Law offers at the end of the process allows you to have a lawyer review your document if you’re unsure about the final product or have any questions. Creating a document can cost as little as HK$100 or roughly $13 USD, while the annual subscription packages range in price from $1,000 to $4,000 USD.
“Dragon Law sees itself as part of an ecosystem of different providers who will help the client,” says Emmanuel Pitsilis, an angel investor in and board director of Dragon Law. “We are already working closely with eight leading local and international law firms in Hong Kong who can support our clients either for legal opinions on a document they created with our system or for high value added legal advice when the needs arise.” His personal hope is that the company can change how SMEs work across Asia by not only offering a cheaper method of making documents, but also by creating a bridge between clients and law firms. This bridge, called DragonLink, allows clients to post what they need and then wait for a qualified lawyer to quote for the job. There is also an independent lawyer review service, which matches a client’s need to a lawyer’s expertise.
These are new concepts for many Hong Kong companies. Pitsilis relates that the company’s biggest initial challenge was getting clients to analyze exactly what their needs were and recognize how Dragon Law could help: “People didn’t wake up in the morning and think ‘I need a subscription based legal service that I can access on my computer’ because people didn’t even know such a thing existed,” he says.
Since then, companies big and small, established and new, have become clients, including the Hong Kong Visa Centre and startup VenueHub. Pitsilis says he has been surprised by the size and scope of some of the companies coming to Dragon Law. “Some have needs across several countries and some are not based in Hong Kong but wanted it as the jurisdiction in their contracts”, he says. To meet demand Dragon Law will soon to release a new offering geared towards larger companies.
The company will continue to innovate from its home in Hong Kong tech hub Cyberport, which houses many Hong Kong based tech startups. While Hong Kong provides a great opportunity and environment for Dragon Law’s services, the company has faced challenges recruiting the right technical talent to grow the business. “Hong Kong has a very strong legal talent pool,” Pitsilis says, “But it is difficult for a startup to recruit senior programmers. We have attracted strong programmers from mainland China, New Zealand, France, Nepal and the US, but less than a handful from Hong Kong. They seem to prefer what they see as more stable jobs with banks as opposed to taking their chances with a startup.” This startup, however, is growing steadily and the model it uses will be replicated in other countries beyond Hong Kong and Singapore. Shakespeare would be impressed.
Joshua Steimle is the CEO of MWI, a digital marketing agency with offices in the US and Hong Kong.
