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Aspiring Lawyers - Applications & General Advice
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Ask 3 future trainees (Magic & Silver Circle, International Elite) ANYTHING! *New TCLA Team Members*
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<blockquote data-quote="Dheepa" data-source="post: 83407" data-attributes="member: 1572"><p>Hey, I don't think I know of a specific resource on this unfortunately. You can check out the first half an hour or so of L.M.'s lecture in the TCLA's Law Firms as a Business course as he does cover some of this and the pros and cons. As I understand it, I think there are three predominate models: </p><p></p><ol> <li data-xf-list-type="ol">One firm - The firm opens up its own offices everywhere. US firms tend to operate on this basis. </li> <li data-xf-list-type="ol">Swiss verein - These are when firms share the name and branding but not necessarily profit pools. DLA Piper, Hogan Lovells and Baker McKenzie operate this way.</li> <li data-xf-list-type="ol">Alliances/Best friend models - A lot of law firms that operate broadly under 1) and 2) still have local alliances in jurisdictions where foreign lawyers are not allowed to practice. For example, India, Indonesia some parts of the Middle East. </li> </ol><p>Law firms don't necessarily stick to only one strategy and may adopt whichever they see fit. Instead of trying to understand each model in isolation, I'd encourage you to try to understand why a firm might pursue different strategies in different regions. For example, alliances happen when there are legal restrictions on practicing in jurisdictions, mergers may happen when a firm wants to open an office directly but also wants to tap into local talent immediately, etc. Hope that helps!</p></blockquote><p></p>
[QUOTE="Dheepa, post: 83407, member: 1572"] Hey, I don't think I know of a specific resource on this unfortunately. You can check out the first half an hour or so of L.M.'s lecture in the TCLA's Law Firms as a Business course as he does cover some of this and the pros and cons. As I understand it, I think there are three predominate models: [LIST=1] [*]One firm - The firm opens up its own offices everywhere. US firms tend to operate on this basis. [*]Swiss verein - These are when firms share the name and branding but not necessarily profit pools. DLA Piper, Hogan Lovells and Baker McKenzie operate this way. [*]Alliances/Best friend models - A lot of law firms that operate broadly under 1) and 2) still have local alliances in jurisdictions where foreign lawyers are not allowed to practice. For example, India, Indonesia some parts of the Middle East. [/LIST] Law firms don't necessarily stick to only one strategy and may adopt whichever they see fit. Instead of trying to understand each model in isolation, I'd encourage you to try to understand why a firm might pursue different strategies in different regions. For example, alliances happen when there are legal restrictions on practicing in jurisdictions, mergers may happen when a firm wants to open an office directly but also wants to tap into local talent immediately, etc. Hope that helps! [/QUOTE]
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