Walker Clark
Worldview Archives
Does your law firm have a war plan?
At no time since the 1960s have the signs been more ominous.
One increasingly has the sense that the increasing tensions between the United States and North Korea will not end well.
If your practice involves Asian clients, cases, or transactions, especially in northeastern Asia, you should develop a "war plan" now.
The International Challenge to Asian Law Firms
As international law firms from outside the region become more deeply embedded in the legal markets of Asia, the leading local and national law firms, which previously may have held relatively secure market positions, must respond quickly and accurately to these new competitors, or face relegation to the lower, less-profitable levels of the market.
Five Asian Legal Markets to Watch: Vietnam
Vietnam will experience substantial growth in its economy and legal market in the next five years. In our view, it already is a "must be there" location for any international firm that is seriously interested in developing a Southeast Asian practice, especially law firms based in other parts of the Asia-Pacific region.
We also expect that a group of well-regarded independent Vietnamese law firms can continue to compete effectively against the local offices of foreign law firms.
This is the second of our series of briefings on high-potential legal markets in Asia for the next five years.
Five Asian Markets to Watch: Philippines
Our recent evaluation of the growth prospects of Asian legal markets between now and 2020 persuade us that the Philippines will present great opportunities for local and foreign law firms. We expect more foreign law firms to increase their activities and, for some, their presence in the Philippines.
We also expect that increased competition will challenge the strategic thinking and management acumen of Philippine law firms, including well-established market leaders, as perhaps never before.
Five Asia-Pacific Legal Markets to Watch in the Next Five Years
This is the first of a series of six posts that will be published over the next three months and that will report our firm's analysis and forecasts for five Asia-Pacific legal markets that we believe will offer the greatest growth in the demand for legal services from international law firms and well-established national and local firms.
What is the ROI for your partner compensation system?
At Walker Clark we view partnership compensation as a strategic issue. Our experience advising law firms worldwide demonstrates that a fully informed, well thought-out partner compensation system can produce a clear and measurable positive return on investment in less than two years. A good compensation system is also a major factor in creating long-term sustainable profitability.
A bad system, however, usually produces no ROI at all, and sometimes even a negative one.
Seven Keys to the Future of Independent Law Firms in Asia
The effects of globalization of legal markets pose a unique set of risks and opportunities for independent law firms in Asia.
This brief article outlines seven observations of Walker Clark LLC members, some of whom have more than 20 years’ experience advising Asian law firms on strategic and operational matters.
