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Northwestern Pritzker School of Law
International free trade; liberalization; legal markets; foreign law firms; foreign direct investment
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More Than Best Friends: Expansion Of Global Law Firms Into The Indian Legal Market, Chris Vena
More Than Best Friends: Expansion Of Global Law Firms Into The Indian Legal Market, Chris Vena
Northwestern Journal of International Law & Business
Over the past half century, there has been an accelerating trend towards liberalization in the legal services industry. International free trade agreements have sought to promote open markets for legal services. The United States, United Kingdom, many European countries, Australia, Japan, Russia, China, and Singapore have all opened their legal markets to foreign law firms. India is something of an anomaly in this regard. Although it has one of the world's largest economies and has benefited greatly from liberalization in many industries, India's legal industry remains closed. Competition for foreign capital with other developing nations, particularly China, makes this an …