As national economies emerge and distinct regional economies begin to develop, the legal profession faces new opportunities. The profession also must manage new, complex business risks. Some law firms will survive these challenges and use the new forces at work in emerging legal markets to build sustainable business success. Many more will not.
By understanding the dynamics of emerging economies and their legal markets, and by incorporating that understanding into well-informed, realistic strategies, any law firm can succeed.
Managing the Opportunities and Risks: Strategies for Law Firms in Emerging Economies is a comprehensive and in-depth investigation of the actual and potential impacts of economic development on the legal profession in Africa, with particular attention to the necessity for local and national law firms to execute business strategies that will maximise their ability to compete against formidable new entrants into their legal markets.
This paper is based on a presentation by Walker Clark founding principal Norman K. Clark to the Second Business Law Conference of the Nigerian Bar Association / Section of Business Law at Abuja, Nigeria, on 13 March 2007.