Law firms take care of the legal matters and are formed by a number of lawyers coming together. When it comes to international law, not many people have knowledge about that and are required mainly by big businesses, etc.
What is the international law network?
The international legal network refers to a membership organization that consists of various independent law firms. They work to expand the resources available to provide the best professional services to the clients. There are more than 10,000 lawyers located at various locations, in the biggest law firms. All the firms that are a part of the international legal network are connected to each other either formally or informally.
Functions and importance of international law network
Everything exists for a reason and benefits. The international law serves a greater purpose and international legal network helps in serving that purpose. Let us have a look at the functions of international law networks that define its importance.
- Retaining independence: International law network helps the legal firms to maintain their independence while providing extended expert client services on legal matters. It also helps the firms to increase their reach and capabilities in new areas and markets. A legal network can help you to increase your economies by pooling resources and use it in an effective way to offer the best services and also get good revenues.
- Better client retention: The network of legal firms has lawyers from all corners of the world, helping small-sized firms to reach new territories. This network helps to get in contact with other lawyers and firms in other countries and cities. The small and mid-sized firms benefit from it as it is cost-effective when you can’t have a separate office in parts of the country. The network helps to provide clients with the best lawyers with the required communication skills and reliability. The clients get the reassurance of the best services and also minimizes the risk for them.
- Practice development: As the network goes global, the business for lawyers and law firms has been increasing day-by-day. Involvement in international law networks helps in dealing with different clients and jurisdictions providing them with an opportunity to increase their legal practice.
- Exclusivity: Every network has its exclusivity meaning there is a particular practice area in a particular city or country. It has its own rights over its jurisdiction areas and territories that helps it in building better and trusting client relationships. Exclusivity also provides the legal services network to set up its marketing or promotion to bring new clients and revenue. The international legal network helps in positioning lawyers in different parts of countries, where probably that particular legal expertise is not that easily available. Every professional has his/her own expertise in some particular area in their fields that makes them stand apart from the rest. By being a part of the legal network, even small firms with special expertise can extend their services to a wider clientele.
- Helps in branding: Just like the right of exclusivity, the international legal network helps various lawyers and law firms to set up and promote their brand by providing their resources wherever it is required. The members can promote their brands by using their logos in any area and it will give them an opportunity to increase their reach. Good branding also increases the trust factor of the clients in the service providers. The branding can be done by using the logos on the firms’ stationery, brochures, web pages, etc. By using the international network logo, it spreads out the firm as an international brand and it is good for repute and reach among the clients in various states and countries.
- Discussions in the non-competitive environment: Many firms that are not competitive get the opportunity to discuss the problems faced by them open to other similar service providers when a part of the international legal network. Open discussions help them in solving their own issues and might also, in turn, help some other lawyer or firm to learn something new.
- Globalization: Globalisation of economies affects all parts of the country and the world. The services are required on a global level now, but the demand and supply are not always met in a local community by the local service providers. The international law firm network helps in providing the required services in the best way possible into the areas where that particular service is required but not readily available. It is a cost-effective and practical approach to achieving the goal of globalization. Members can easily discuss the political, legal and economic situations of their area among themselves helping to extend resources and find a justifiable solution.
When it comes to international law firm networks, Interlegal is a big part of the network. The firm has experienced and expert lawyers who are always up for good services and helping others in dealing with their international or local legal issues.