The United States is about to be invaded by a variety of foreign law firms and alternative providers of legal services from all four corners of the globe. These new market entrants are bent on providing a full array of legal services in direct competition to American law firms
The era of law firm globalization is not simply one in which American and United Kingdom based law firms sprout branches around the world. Rather, in many important business centers of the world, particularly in China and India, major law firms and alternate providers of legal services are simply taking the position that what’s good for the goose is good for the gander.
In recent years, we have seen a fairly mighty British invasion on these shores. A substantial number of British Magic Circle firms have emerged as prominent and potent competitors on American shores. That invasion is hardly over.
But, even as these British Magic Circle firms take increasingly large market share in the United States, a new wave of law firms are taking a hard look at entering the United States market. These new invaders are likely to launch their attacks from China and India. Not all of these new market entrants will be traditional law firms; many will be alternate providers of legal services. They will have a long global reach, serious market power and in many instances, the ability to provide legal services at extremely competitive prices to the disadvantage of existing United Sates law firms.
We invaded many foreign shores and now law firms from those far away lands are likely to retuen the favor.
It’s time to prepare for the upcoming new invasion and be prepared to meet these new challenges.
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