IBA Annual Conference Seoul 2019

22 Sep - 27 Sep 2019

Room 327 A, Floor 3

Session information

Alternative business structures (ABS) crowdfunding, initial coin offerings (ICOs) and alternative dispute resolution (ADR): digital solutions for resolving cross-border legal disputes from the inception (funding) to implementation of blockchain ADR?

Wednesday 25 September (1430 - 1545)

Room 327 A, Floor 3

Committee(s)

Alternative and New Law Business Structures Committee (Lead)
BIC International Trade in Legal Services Committee
Professional Ethics Committee
Technology Law Committee

Description

Crowdfunding websites are designed to connect entrepreneurs in need of funding with those who have money to invest or provide. Different websites offer different types of funding, such as equity, rewards-based or debt peer-to-peer crowdfunding. In addition, the use of artificial intelligence (AI) on crowdfunding platforms can enable AI engineers to pitch their project ideas to investors and individuals around the world. They can also take into account the ethical dimension of AI projects. Only the projects that make a positive contribution to society and adequately address risks will qualify for fundraising on the crowdfunding websites. These new business structure opportunities could give rise to new law ADR structures for dispute resolution via blockchain mechanisms or online dispute resolution services. This session addresses the regulatory and other challenges and potential opportunities arising from crowdfunding, as well as the responsibilities of the crowdfunding organisers and legal ethics issues arising from blockchain, AI and ICOs in the context of ABS. The session examines how regulation, consumer litigation and consumer dispute resolution can co-exist and whether it should be possible outside of B2B networks. Can this be a means of delivery of new law legal services to address the access to justice affordability gap? Panelists will discuss the new business structure opportunities this brings to law firms or ABS, and how they could be used in terms of international dispute resolution (setting up ADR bodies) and enforcement procedures.

Session / Workshop Chair(s)

Anurag Bana International Bar Association, London, England
Riccardo Cajola Cajola & Associati, Milan, Italy; Chair, Artificial Intelligence Working Group
Silvia Fazio Norton Rose Fulbright, São Paulo, Brazil
Emily Foges Luminance, London, England
Vivek Kathpalia Cyril Amarchand Mangaldas , Singapore, Singapore
Sönke Lund ÉCIJA, Barcelona, Spain; Membership Officer, Agriculture and Food Section
Sajai Singh JSA, Bengaluru, Karnataka, India
Maarten Van Buuren WLP-Law, Amsterdam, Netherlands

Speakers

Patrick Dorgan IBA Council MemberLaw Society of Ireland
Stefan Loesch LexByte, London, England
Joyce A Tan Joyce A Tan & Partners LLC, Singapore, Singapore