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Business Down in US, Law Firms Move Out

Posted: October 9th, 2008
By: Zach Heller
Category: Law Firms, The News Beat

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Business Down in US, Law Firms Move Out

Law firms in the United States are in one of two positions. Either they are taking advantage of the rise in certain types of legal work that comes from a struggling economy, or they are struggling to find enough work because their clients are cutting costs.

Either way, one way to diversify in a down economy is to expand your international presence. That is what DLA Piper, a major global firm, has done once again. This time, they have joined forces with the largest law firm in Kuwait. The new venture will be called, DLA Piper Kuwait, and you can read more about it here.

Earlier in the year we talked about many law firms that were looking to merge or purchase other firms to help defend themselves from the economic pressures facing the industry. Now, in a new move, we see many law firms doing the same thing in other countries. Instead of closing up shop, cutting costs, laying people off, and doing everything else you can do to keep from going under, law firms are looking for new solutions. Teaming up with an established firm in another part of the world can help shift assets to more meaningful work, and help deflect some of the pressures felt at home.

This is also a great strategy for a future of the global economy. Establishing a presence overseas is one way to set yourself up for more aggressive growth down the road. It may go against conventional wisdom to grow during a down economy, but if you can make those connections, it may be easier than you think.

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