The Irish Times reports:
Dentons, the world’s largest law firm by number of lawyers, plans to open an Irish office led by former senior William Fry partner Eavan Saunders.
It aims to build out a corporate practice with 50 lawyers within the next two years.
The firm, which has more than 10,000 lawyers in 181 locations across 73 countries around the globe, plans to be fully up and running in the second quarter of this year and “intends to grow the office quickly”, it said on Wednesday.
World’s largest law firm Dentons to open Dublin office (Joe Brennan, The Irish Times)
Dentons appoints two partners from rival firms as it breaks ground in Ireland (Irish Legal News)
Well, that’s some good news. Expect the usual naysayers along any minute.
Explain to me why it’s good news.
I’d also like to know why it’s good news.
Well, I am sure that the 50 lawyers hired will be pleased to be working there, not to mention the support and administrative staff hired as well. I’m sure that the companies supplying services to the new law firm will be pleased with the uptick in business. I’m sure Paschal will be happy with the increased tax take from the income tax & corporation tax that the company pays.
They’ll just get the staff from the small law firms that won’t be able to compete against them in such a small market and end up going to the wall.
Doubtful. I imagine a large proportion of people will be brought in from the larger Irish law firms on the promise of access to greater, global resources, higher wages, getting in on the ground floor and potentially climbing the ladder etc
Nonsense; the supply of solicitors/barristers is way higher than demand; it was ever thus.
the supply of solicitors/barristers is way higher than demand;
is that why they are so cheap?
– that’s why we shouldn’t interfere with the workings for the free market ;)
What makes you imagine that?
Ah yes. The untamed free market. Do some research on Dentons. Your answer is what I expected in that you support a large company moving here. No specifics to this company or profession.
@Yep -I’d rather not; can you give me the condensed version as to why them in particular setting up shop in Dublin is bad?
The vast majority of ‘smaller’ firms in Ireland work in areas a million miles away from what Dentons do and what they likely will be doing in Ireland. they’ve already poached partners from 2 of the traditional big 5 firms and will be focusing on work in areas traditionally dominated by them too. they’re going to want to bring in people with experience of managing and being involved in large scale transactions and those are most typically done by the top 10/15/20 firms in the country.
I think there’s a definite risk of the arse falling out of the legal industry here at some point (there’s been a huge influx of foreign firms setting up here the last few years throwing money around like nobody’s business and if it turns out Ireland isn’t as fertile for business as they thought, I reckon they’ll be upping sticks fairly sharpish) but I don’t think it’ll be from them hoovering up people from smaller firms, no more so than the big firms have been doing already anyway
Cheers for that wario. Much appreciated.
Dentons? Jesus Christ!
haha, the first thing that popped into my head, too :)
Well it wouldn’t be the 1st tax haven they open in…
Any chance a bit of competition might reduce the eye-watering amounts of money lawyers make here?
I didn’t think so.