The world has a lot to worry about now that Donald Trump has been sworn in as President of the United States, but law firms have a lot to worry about no matter who occupies the White House. I'm Lisa Shuchman, Executive Editor of Law.com International, bringing you this week's edition of The Global Lawyer. |
When Donald Trump was sworn in on Monday to serve as President of the United States for the second time—a day that coincidentally fell on the public holiday honoring the legacy of the Rev. Martin Luther King Jr.—it marked the beginning of big changes for the U.S. and the rest of the world. But big changes are coming for Big Law as well. And some have little to do with who is occupying the highest office in the United States. Law firms will have to come to terms with the impact of generative AI. They will face unintended consequences as they move away from single-tier partnerships. They will contend with the costs associated with an increasingly competitive legal market in London. They will also need to be smart and agile as they advise clients on the growing retaliatory tariff regimes and other protectionist measures likely to be imposed by Canada, Mexico and Europe in response to the new Trump administration and its unbridled “America First” policies. And they will have to prepare for more global disputes and international class actions in a world where geopolitical rifts will lead to increased commercial conflicts. |
