It is the best of times, it is the worst of times. In a world where the only thing that doesn't change is change itself, opportunities and risks are too obvious to ignore, and the legal market is no exception. As a nearly $300 billion industry and one of the most profitable in the world, the U.S. legal industry is under fundamental transformation. Whether in-house counsel or law firms, only those with far-ranging sights, clear thoughts and quick action can survive and thrive.
Small and medium sized enterprises and family businesses dominate the Italian economic landscape. The high quality of niche and luxury “made in Italy” products, and the strong potential of its market, have ignited the interest of foreign investors. After a long economic downturn, the country has regained international credibility, creating opportunities for independent law firms.
Raw materials, innovation, culture … Africa is an inexhaustible source of wealth. From north to south and from west to east, foreign investors are working hand in hand with local entrepreneurs. This alliance is a safe bet for a continent that is counting heavily on the new generation to create the Africa of tomorrow.
With a population of only half a million, Luxembourg is one of the world’s most developed economies and a key seat of the European Union. Thanks to its strategic location at the heart of Western Europe, social and political stability, innovative and international orientation, as well as modern legal and regulatory framework, the Grand Duchy is the Eurozone’s premier private banking center and the world’s second largest fund center, attracting banks, insurance companies, investment fund promoters and specialized service providers worldwide. Both international firms and local firms need to adapt themselves to the changing landscape of legal market.
Small, stable and diverse, with Geneva and Zurich serving as hubs for various industries and thus law practices, the Swiss legal market reflects the country’s situation. The banking paradise that served as a safe haven for private clients is changing: some international law firms are trying to establish themselves in this market dominated by local law firms, while local law firms compete for recognition in international commercial arbitration.
Peru is considered one of the leading emerging markets in the region in terms of economic development and despite the economic slowdown the prospects are better than in neighboring countries. According to the IMF Peru will grow at a faster rate than Chile, Colombia and Mexico. The recently elected president should provide a basis for this notably through several infrastructure projects that should launch in the coming years.