International clients are increasingly turning to Australian law firms for advice on local law issues in the Asia-Pacific region, Gilbert + Tobin partner Michael Williams told Lawyers Weekly.
Australian firms have employed different models to infiltrate the Asia-Pacific region market, including opening offices in the region and forming relationships with local providers, such as that which Deacons did with Chinese law firm King & Wood, Williams said.
"Companies that are seeking to invest, for example in Asia, are bringing with them the knowledge and the expectations of how businesses are structured and how deals are done in the sophisticated markets," he said.
"[Companies] are expecting people in other markets will understand [these expectations] and accept more rigorous frameworks, but you have to have lawyers there that understand what those are."
Williams said helping China to combat piracy and counter infringement has been an area in which law firms have been able to advise foreign companies looking to invest and a way for local businesses to learn from techniques and strategies developed elsewhere in the world.
"That's where Australian firms I think are increasingly getting a look in because they're seen as good value ... compared to some of the much more expensive options in the US or UK," he said.
- Sarah Sharples