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The crisis has had a significant impact on the market, and law firms are no exception. However, it has also meant a business opportunity in so-far undeveloped areas, improved management and a closer approach to client needs. In terms of its adaptation to the phenomenon of globalisation and the challenges ahead, we speak to is major players.
ESADE ALUMNI LAW CLUB
Rafael Matas Partner at Compas Private Equity and Vice-president of the Board of the ESADE Alumni Law Club
Challenges of globalisation
The globalisation and internationalisation of business has also changed the way we work in the Law sector. Some of the measures being taken by Spanish law firms to respond to it include opening new branches in other countries, affiliation with foreign offices to advise companies on their global operations and mergers between firms on a regional and global scale. For Ramón Gil (Lic&MD 99), Partner in Commercial Law at Cuatrecasas Gonçalves Pereira in Barcelona “business law has largely become globalised in order to accompany clients in their international activity and to take part in cross-border actions without losing its identity. It aspires to be local in global environments. To do this, law firms are adopting various strategies. In our case, our goal is to accompany our client in any international market, whether it be Shanghai or Nigeria, and this means having the ability to know how to manoeuvre in global environments”. Special interest has awoken the Latin American market, where we find several countries with relatively stable economies, growth rates well above the European rates and a strong presence of Spanish investment. This combination of factors, together with cultural and linguistic similarities, provides undeniable opportunities and challenges for the
Spanish legal sector, explains Raimon Tagliavini (Lic&MD 01), partner at the Uría Menéndez Barcelona office. Some firms are also pushing for hiring lawyers with a knowledge of foreign languages, which, until recently, was not common. Therefore, professionals with Chinese and Japanese are no longer the ‘rara avis’ of law firms. In international operations it is becoming common practice to accompany clients in closing a transaction and to receive advice from local lawyers only to verify the adequacy of the local legislation,” explains Rafael Matas (Lic&MD 00), partner at Compas Private Equity and Vice-president of the Board of the ESADE Alumni Law Club.
“Our goal is to facilitate practising law by teaching current regulations and creating debate forums. In addition, we contribute to the professional development of its members by examining how the legal market works, its agents, the issues involved in practising and the skills needed to optimise work, specifically strengthening networking activities. Among the activities that the Club is currently developing, those that stand out are the organisation of the Aptíssimi - Business Law Awards, where every year more than 300 professionals from leading law firms, legal advisers of the most important companies, Government lawyers, notaries, registrars, magistrates and professionals from other sectors of the legal profession are recognised”.
Contact: clubderecho@alumni.esade.edu More information: www.esadealumni.net/ea/alumni_network/ functional_sectorial_clubs/law_club
Effects of the crisis
The economic crisis has had a significant impact on the sector, although it has also created a business opportunity in areas that until now have been undeveloped in law firms (such as distress operations). This has given way to facing new legal challenges, and thus, new clients. Furthermore, clients are much more demanding in terms of pricing and the quality of services provided. As a result, the legal sector has become much more competitive in recent years, explains Marilí Cuello (Lic&MD 08), senior associate of Real Estate Law at Garrigues Abogados y Asesores Tributarios.
The Spanish law sector remains one of the most solid and competitive in Europe
ESADE ALUMNI