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Girdle-the-globe transactions as the counterpart of bet-the-company litigation – blue moon events

The gigantic law firms that circled the globe always talk about how valuable they are in a huge transaction that requires lawyers to combine from multiple countries. Of course, there are huge deals that require legal advice in many countries, and of course when there is a blue moon it would be an advantage to have one law the firm that combines and coordinates all that knowledge. But, like the apocryphal bet-the-company lawsuit, sightings are few and far between – once in a blue moon.

Legal departments only rarely get sufficient benefit from girdle-the-globe firms on more local matters to offset their higher overhead and rates (See my post of Feb. 28, 2006: bet-the-company litigation, rare but often cited; Jan. 18, 2009: lawsuits don’t account for much stock volatility; and June 17, 2009: operational and financial risks are deemed much more worrisome.).

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One response to “Girdle-the-globe transactions as the counterpart of bet-the-company litigation – blue moon events”

  1. When the managing partners for First Law International were corporate counsel, they recognized the inefficiencies inherent in the structure of these global firms and decided to create a firm that emphasized more efficiencies both from a cost and a time perspective. By streamlining the process, not only can a company use the firm for these “blue moon” projects, but also for more traditional support globally.