THe FT writes…
The FT’s Innovative Lawyers’ reports have for more than a decade provided a showcase for European and North American law firms’ innovations and the stories behind them. Those are the world’s leading legal sectors. But now, with the Asia-Pacific region home to the second-largest economy in the world, China, there is a sense of growing maturity among the region’s law firms. Their clients are hungry for legal expertise. Some of Asia’s biggest corporate names are on the hunt for acquisitions in the west and closer to home. Other smaller, but ambitious companies also seek to raise finance for expansion. Governments want funds to build bold infrastructure projects. They are pursuing their ambitions against a backdrop of caution among the authorities. For instance, Chinese regulators have moved to curb capital outflows from the country. In response, lawyers — homegrown and international — are developing their legal skills, whether it is in clever structuring of cross-border deals or negotiating complex rules; and they are also restructuring themselves, from their physical work space to the way they share out their work. They are even showing a willingness to ditch the partnership model. Throughout, they recognise that technology is critical to being able to offer the best service to clients. Just as would-be tech hubs sprout across the region, law firms are seeking to win a digital edge in what they can offer.
https://www.ft.com/content/5b17f0f4-3be2-11e7-ac89-b01cc67cfeec
