This month, Plexal co-hosted the Rule of Law: Powering business success, investment and innovation event at our Stratford HQ with the Attorney General’s Office to discuss how the rule of law underpins growth for startups and scaleups.
“When we talk about innovation and growth, we often focus on the UK’s entrepreneurial ecosystem, research base, talent and academic institutions,” began Saj Huq, Plexal CEO, opening the event.
“But really, trust in the rule of law is beneath all our success in the UK and globally. This creates the UK’s ability to provide certainty in disruption and drive business trust, which is a crucial catalyst for growth, investment, success and innovation.”
Taking to the stage to deliver his keynote, Attorney General Richard Hermer, reflected on the synergy between British traditions of business and the rule of law, which he attributed to the UK’s commercial success.
Looking back at the rule of law rollout in the 1800s, the Attorney General championed its significance. “By recognising a company as a separate legal entity, the law gave entrepreneurs the opportunity to take risk – knowing their personal lives wouldn’t be destroyed if a venture failed,” he said. “It established a principle at the heart of modern business that through the rule of law you could have a platform for change that showed agreements are respected, obligations are clear and companies can operate in a way that’s predictable and trustworthy.”
Positioning the UK as an environment for entrepreneurship, the Attorney General declared: “If the legal foundations are strong, innovation doesn’t just survive – it grows. Fast. And that’s exactly the environment the government wants to support. The rule of law makes us one of the finest jurisdictions in the world for everyone to grow ideas, protect intellectual property and create world-class businesses.
“This government’s ambition is to build world leading innovation corridors across the UK – places where ideas, talent and investment come together, where businesses can grow. My message to you is the next great UK global company might not start in a traditional boardroom – it may start in student flat, a shared workspace or here.
“What makes a difference is if people feel confident enough to take that first step. And the UK’s rule of law tradition has been giving entrepreneurs that confidence for a century. The job of the government is to make sure that continues. If you have an idea, even a small one, don’t dismiss it. We want you to be part of that Great British success story. This government is behind you and so is our rule of law heritage. Go for gold.”
Thank you to our speakers, Richard Hermer, Dr Sofia Gonzalez De Aguinaga from Bingham Centre for the Rule of Law, Brendan Vickers from the International Chamber of Commerce and Technology and IP Lawyer Victoria Thompson, as well as our attendees, for being part of this stimulating conversation.
