The latest boom in transactional work from emerging economies is a welcome antidote to difficult home markets for international firms. LB looks at the differing approaches to growth and who the clients of the future might be
It is easy to understand how law firms get carried away by the opportunities that new, emerging markets present. In the past five years there has been a rush to set up offices in places that a generation ago would have held little attraction. The shift of transactional power has now fundamentally moved to emerging economies led by Brazil, Russia, India and China (the BRIC countries).New York and English law may still hold sway but there has been a marked rise in deals between these new markets, bypassing the traditional business centres in Europe and the US.
