We continue the ongoing discussion about the search for strategic relationships with foreign law firms.
One of the big mistakes that some firms make when looking for a strategic partner is to expect to form an "exclusive" relationship with another firm. Although, in the past, some law firm networks have tried to promote an informal referral preference for member firms, "exclusivity" seldom works, and is usually overwhelmed by exceptions, the largest of which is client choice.
Most international law firms based in Europe, the Americas, or elsewhere want to be able to offer their clients a choice of at least two - and preferably more - foreign law firms to serve as local counsel or to manage the client's foreign matter completely. Even when an informal referral relationship becomes virtually exclusive, it is usually the product of years of mutually satisfying and productive experiences, less than the result of a grand strategy.
Read more on the Walker Clark Worldview Blog.