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During the past five years, the percentage of revenue generated by U.K. law firms outside their home country was three times greater than that of U.S. firms, according to a study released by PricewaterhouseCoopers International. At the same time, profits for U.K. firms were almost four times greater, the study found. And while U.K. firms identify litigation as one of their top profit generators, U.S. firms cite intellectual property work among their big money-makers, the 2008 Strategic Law Firm Study found. Law firms in the United Kingdom and the United States reported that they expected 10% profit growth in China in 2008. The availability of laterals when opening a foreign office was a major concern for both firm groups, with U.S. law firms more dependant on laterals to generate business than their U.K. counterparts.

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