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Are you looking into Dentons Dacheng? This is a legal practice between the global law firm (Dentons) and the Chinese firm Dacheng law offices. Dentons is the largest law firm in the world. It has offices in Asia, the Middle East, and the United States. In recent years it has undergone a digital transformation to focus on innovation.
Dentons was created when law firms from Canada and the United Kingdom joined. They then went on to join with Dacheng, which added over 3500 more lawyers to their company. Dentons now has around 6000 lawyers. They are in 50 countries.
Dentons Dacheng is now in most of the major cities in China. They decided to do a merger since Mallesons was growing very fast. They were a number of other Chinese law firms that were also growing due to their ability to raise investment capital. One example of another successful Chinese law office group is Yingke.
Dentons Dacheng Empire
Dentons is by far the biggest law firm these days. They have more than 2500 lawyers more than the next largest law firm. The economy of China is still growing fast, even though it has slowed down. It was the first global firm that could practice law in China. Also, it enabled them to provide legal services to Chinese companies and even the government. Many Chinese corporations and governments are now doing deals in other countries. The average Chinese law firm doesn’t know the law of countries like the United States.
Big law has been on a decline in many countries around the world. This is why many law firms are wanting to go to China. Because the legal market is new in China, it will offer a lot of opportunities for the next few decades. The world is smaller these days with globalization. Many law firms are trying to offer a one-stop-shop. This is also known as one throat to choke.
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Dentons Dacheng Law Offices
It is likely that other international law firms will soon try to merge with a Chinese law firm. These law firms mostly work in areas of business law, transactions, and capital markets. Other law firms also provide family law, divorce, real estate litigation, and criminal law services. China law offices need to grow into the United States, as it’s the largest legal market by far in the world. However, these Chinese firms might be banned from working for many US companies due to the second cold war that is going on between the US and China.
It was hard when Dacheng and Dentons joined from a cultural point of view. Chinese and American culture is very different. However, if managing partners are happy, the culture is happy at the law office. If the lawyers are happy with how much they get paid, the law firm will do well. If someone provides a referral, they should be compensated.
The future of legal innovation will depend on if law firms can raise money from non-lawyers. Most law firms do not want to create a debt structure. Lawyers do not like massive risk. You cannot grow your way out of debt. Law firms in the UK and Australia can raise capital. In the USA or Canada law firms cannot raise money.
China Legal Registration | Lawyer Locations
China is a massive country. There is a lot of business going into China, and coming out of it. There is a big opportunity for lawyers to advise on all of these transactions. Most of these Chinese law firms have only been around for ten years. The practice of law is brand new. The government of China now wants to see their local law firms to go across borders and to be world leaders. China is around forty years behind the United States legal market.
Many large companies are also now hiring in-house counsel, which has been putting pressure on large law firms. This is why some large law firms want to grow to China.
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Author: Alistair Vigier is the CEO of ClearWay Law