Firm jumps ahead of blockchain deployment with iTRACE partnership to deliver enhanced brand enforcement and secure supply chains.
Baker McKenzie has partnered with iTRACE Technologies, a provider of secure anti-counterfeit and supply chain security solutions for brand owners, to deliver a new solution for clients looking to secure their products and supply chains against counterfeiting.
iTRACE's “2DMI” technology helps companies secure their products and supply chains from manufacturer to retail, providing control, security and insight into the entire production process, irrespective of location. The software enables companies to secure each product itself - not just the packaging or label. “We initially started looking at iTRACE for its ability to track the physical products to the emerging blockchain ledgers, but quickly realized that its technology and solutions could really help our clients today, without having to immediately start using a blockchain deployment,” said Ben Allgrove, chair of Baker McKenzie's global intellectual property and technology practice and the global R&D lead. Mr Allgove said the partnership “is a great example of providing a valuable and bespoke business solution, combined with ecosystem thinking."
In the last two years, Baker McKenzie has made several major tech deployments or expansions. In 2017, the Firm announced the selection of eBrevia as its main Artificial Intelligence (AI) tool of choice to be used on M&A and other transactional work for its global clients. The Firm partnered with LitiGate, a Tel Aviv-based legal tech venture, to develop and test a litigation platform that uses AI to automate legal research and argument assessment in relation to court applications. The Firm is also working with the Accord Project to assist in the development of industry-wide standards for smart legal contracts. Mr Allgrove explained, "We are focused on adapting quickly to our clients' changing needs - moving at their speed, not our own speed. Too often the conversation is focused on what technology law firms are deploying. But that is the wrong question. Instead, the focus needs to be on what issues our clients are trying to solve.”