Seven Pillars Law, an international law firm headquartered in the Astana International Financial Centre (AIFC) in Kazakhstan, has established a company in space. In a statement on its website, Asgardia made the announcement that Seven Pillars Law is the first company to be established in space.
His Excellency Ben Dell, Minister of Trade and Commerce for Asgardia, said “As a nation of the future, and the world’s only truly digital democracy, I am delighted to offer opportunities for businesses to establish and flourish in Asgardia. Seven Pillars is the first of many enterprises looking to establish in Asgardia, a nation at the forefront of innovation and entrepreneurialism and I wish all Asgardian companies well.”
John Fine, Chairman of the Trade and Commerce Committee for Asgardia said “I am extremely happy to see the first business registered in Asgardia, and an earth state business at that”.
Seven Pillars Law was registered by Asgardia and is housed on the satellite Asgardia-1. This means that not only can Seven Pillars Law provide its stellar legal advice across the globe, it can also support those looking to access the rest of the universe. This reflects Seven Pillars’ commitment to space exploration and builds on Kazakhstan’s many firsts in space.
“In addition to Space and Aerospace being one of the firm’s core offerings, we pride ourselves on being at the forefront of innovation and being a market leader. So seeing Seven Pillars become the first company registered in space, I find it very fitting,” said Matthew Farmer of Seven Pillars.
This is not Seven Pillar’s only connection to space. Recently, it signed a Memorandum of Understanding with the Kazakhstan Space Agency. Seven Pillars association with Space is fitting given Kazakhstan’s inextricable links to the history of space travel and development, evidenced by the fact that Kazakhstan played a key role in both sending the first man to space as well as bring the first to launch a satellite into space as part of a collective effort by the region.
This pioneering spirit, which has been thriving and ever-present in Kazakhstan, is mirrored by Seven Pillars. A commitment to space and innovation closely ties into Seven Pillars’ core areas of expertise.
The global space industry is still in its infancy. However, it has been estimated by Morgan Stanley that it will grow to be worth US$1 Trillion by 2040. The space tourism industry alone has been estimated by UBS to grow to a $3 Billion industry by 2030. The general consensus is that there are opportunities to be had and this could be arguably one of the greatest inflexion points in the history of mankind as we move into what has long been thought to be the final frontier. There are certainly going to be challenges and having a partner with a similar vision and commitment to innovation will be key. As the first law firm in space, Seven Pillars Law should very well be your first call.
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