Last week The Lawyer hosted its first European Legal Networks Summit in London.
The summit was attended by delegates from independent law firms, both small and big. The participants of the summit debated about managing their cross-border relationships with other law firms. Perhaps one of the biggest challenges for independent law firms today is receiving referrals.
There are different models of cross-border relationships between firms. They range from best friends, which is a very informal and non-exclusive type of relationship, to alliances with institutionalized membership. They both have their own advantages and disadvantages, which were discussed at the summit.
The speakers at the summit also focused on working effectively with US law firms. This is of particular importance, given the advance stage of negotiations concerning the Transatlantic Trade and Investment Partnership (TTIP).
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