Study finds emerging markets are still a driving force as law firms pursue global goals.
The recession has done little to deter law firms from pursuing their global goals, with most continuing to see growth in emerging markets and the need to develop an international footprint as a priority.
A study of 130 general counsel and 80 law firm partners around the world conducted by law firm Eversheds found that most saw having a well developed practice in emerging markets as a significant factor in forming a premium firm in the future. In fact, many of the law firm leaders questioned are considering moving their firms’ headquarters east to China or India.
“For Western law firms, the shift to the east is well underway both as a move to follow a global economic trend but also as the drive to efficiency dictates that low-cost jurisdictions are a key component of cost base reductions,” the report concludes.
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