Book review – ‘A Comprehensive Guide to the Asia-Pacific Legal Markets’ by John Grimley
10 September, 2014
The rapid economic growth in Asia, particularly South East Asia, in recent years, has led experts to claim that the 21st century is the ‘Asian century’. As a result of this economic growth, the legal market in the Asia-Pacific region is predicted to double in size and become one of the most important legal markets in the not-too-distant future. Law firms that want to take advantage of this growth must ask themselves whether they want to enter into or expand within the Asia-Pacific region. John Grimley’s new book ‘A Comprehensive Guide to the Asia-Pacific Legal Markets’ provides the vital information that firms will need to answer this question.
In his book, Grimley analyses the legal markets of 17 countries within the region, covering fast growing nations like China, India and Singapore as well as emerging economies such as Vietnam, Indonesia and Myanmar. Focusing his analysis on the projections for growth, the challenges to economic growth, the major firms within the country and information regarding foreign lawyers practising in the country, Grimley paints a comprehensive picture detailing the opportunities and the challenges that exist in each country. A number of commentaries by key industry insiders are also included to provide unique insights into specific local markets.
The Asia-Pacific region has recently witnessed a rapid influx of international law firms into the region as well as the rise of local and regional firms. Grimley devotes the remainder of the book to examining the major opportunities and unique challenges international firms face in the region, as well as the challenges presented to local and regional law firms in light of globalisation. The book also includes a number of case studies, illustrating unique and successful approaches by a very diverse range of service providers in the region.
Being a consultant on strategy to professional services firms worldwide, Grimley is intimately aware of the impact the NewLaw business model has on the traditional BigLaw business model and its potential in the Asia-Pacific region. The experience of the Australian NewLaw firm AdventBalance is presented in the book as an example of how the NewLaw business model may compete with the BigLaw business model and thrive in a competitive market.
Written in an articulate style, the book presents comprehensive and detailed information that will allow law firms to create strategic future plans, making it a must read for legal practitioners who are considering entering into the Asia-Pacific markets or seeking to expand their practices within the region.
Our guest contributor is Xinyu Zhang, a recent JD graduate from Melbourne Law School. Xinyu may be contacted on email@example.com
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