Law firms are seeing more and more of their revenues generated from clients or projects outside the UK. The challenge for them is to ensure that partners and clients alike are supported overseas by law firms of the highest calibre. As a result, effective global networks such as Lawyers Associated Worldwide (LAW) have become important in meeting this challenge, ensuring that standards of advice and service are kept high.
Clients are now more active than ever in overseas jurisdictions: property clients venture into emerging markets; due diligence may be required in far-flung corners of the world; sales and manufacturing functions are being relocated; tax strategies involve several jurisdictions; cross-border insolvency and reconstruction is a growth area; and private clients may already hold or be seeking to acquire investments overseas.
