The digital economy in the Asia-Pacific market and its intersection with legal services in the region are one highlight of a new book by this author which provides “A Comprehensive Guide to the Asia-Pacific Legal Markets“. Integral to the the book was the participation of the regions lawyers and legal services sector professionals — who provide commentary and analysis of many issues and trends afoot within Asia-Pacific’s legal markets.
Over the course of the next weeks and months we will highlight those contributions and those authors. In this installment of that series, Stephen Lai, Managing Director of Hong Kong-based Conventus Law, provides insight into the unique business model Conventus Law is utilizing to create a place for itself in the highly-competitive legal media market in the region.
In particular, Conventus Law utilizes digital technology and branded social media platforms to exchange information and solidify its presence in the minds of those in the regions legal market. Too, Conventus Law maintains a focus on the region’s elite law firms and the publishing of quality legal content from those publishers – to underpin its unique offering.
In a case-study written for the book, Conventus Law’s unique market approach is outlined. As the report explains:
“Typically, ‘legal media’ companies generate revenue through advertising, listings and event sponsorships from law firms and legal solution providers such as recruitment firms and translation companies. It is a competitive and congested market with the main players having established media relationships that make it hard for new entrants to break their way in. Conventus Law – an Asia Pacific legal media business set up in 2011 – approached this challenge from a totally new angle, eschewing the traditional revenue streams to become a competitive presence in the legal media space.”
“Conventus Law was founded by Stephen Lai, who had over 13 years’ experience in the sector having worked in both London and Hong Kong. He had a simple vision: help investors doing business in the Asia Pacific turn legal challenges into business advantages. To do this he created Conventus Law as an online platform that offers members the latest legal analysis through white papers, blogs, videos and audio, as well as invitations to networking events. Members may also connect with expert legal advisors directly through the [Conventus Law] website or, more discreetly, by emailing an introduction request through in-house staff.
Today, the company partners with over 21 of the most respected law firms in the Asia Pacific [region] to provide up-to-date legal analysis to its approximately 7,000 members. And this has all been achieved without the sale of advertising space or creation of another legal ranking. So, how did he do it? . Lai puts it down to the simple reason that , “whilst we understand figures are important, our focus is on quality and this must come before everything else, including the number of members, law firm partners and profit.”
For more information about Conventus Law, please see their website. The LinkedIn profile of Stephen Lai, Managing Director of Conventus Law, is located here. For more information about the book, please see the Ark Group website.