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The internationalization of legal services and the development of corporate law firms have led to profound changes in the practice of law, giving it a more commercial and international focus. These changes, coupled with a general intolerance of restrictions to competition, have led governments to reconsider the way they regulate the profession.
Liberalization of trade in legal services takes place both at the multilateral level within the World Trade Organization's General Agreement on Trade in Services (GATS) and at the regional level within preferential trade agreements (PTAs). This book analyses the liberalization process that takes place at both levels. It is the first publication to undertake an in-depth analysis of the obligations contained in these agreements.
Starting from an overview of the regulations related to legal services--and focusing on barriers to cross-border legal services that result from these regulations--the analysis goes a long way towards pinpointing which regulations should be removed and which adopted or preserved in order to facilitate international trade in legal services. Insightful considerations explore the cross-border features of such elements as the following:
- cross-border mergers and acquisitions;
- intellectual property rights;
- new financial instruments;
- business-to-business dispute resolution mechanisms;
- business permits;
- company formation;
- tax burdens;
- regulatory compliance;
- transparency rules;
- residency and local presence requirements;
- restrictions on (e.g.) ownership, investment, entry, fee-setting, and advertising; and
- extension of accountancy disciplines to legal services.
- Sales Rank: #6481084 in Books
- Published on: 2013-08-26
- Original language: English
- Dimensions: 9.50" h x 6.25" w x 1.00" l, 1.45 pounds
- Binding: Hardcover
- 336 pages
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Liberalization of trade in legal services in the context of WTO
By Legal Abstract
The reviewed book belongs to Gilles Muller. It discusses the issues of regulation of legal services in the context of WTO.
It is written in difficult language and students are not likely to understand it. It is also not for those, who is simply interested in legal business. It is an analogy of technical guidance to specific equipment.
The book comprises of three major chapters. The first chapter discusses regulation and liberalization of legal services. The second chapter discusses regulation of legal services in GATS. The third chapter discusses separate aspects of liberalization of legal services on trade preferential agreement in EU and Switzerland.
All three chapters contain large amount of information, written in a very laconic and concise manner. The author was able to fit the topics, which normally took up to several volumes, in 250 pages. In the one chapter, he discusses eight large topics, which are also subdivided into small topics.
On the other hand, it is praiseworthy that the author could discuss some many topics in such concise manner, and not only discuss, but also adduce useful examples.
In a relevant way, the author indicates the issues surround definition of legal services. Thus, in “Definition of legal services” paragraph, he does not straightforwardly adduce ready definition, but admits that the definition of this term is complicated by presence of divergent views of WTO members. The author refers to collective declaration of WTO members, where “legal services” notion is divided into several constituent parts. These are, namely, legal advisory services, representational services and international arbitration and mediation services.
Moreover, the author points to the existence of four modes of legal service supply: (1) cross-border supply; (2) consumption abroad; (3) commercial presence; and (4) movement of natural persons.
It is not clear what “movement of natural persons” means. Author explains it by reference to representation of interests of person who is in WTO Member-State through another natural person, who is in different WTO Member-State. If so, why is it a movement of natural persons? Why is it not a representation through natural persons? These issues can be in principle explained by idiosyncrasy of WTO terminology.
The book also discusses five major principles of liberalization of legal services in the context of WTO. It is transparency, absence of discrimination, prevention of unnecessary burdensome measures, recognition and promotion of competition rules.
The author also underlines the importance of preferential trade agreements. Such agreements are implemented through four instruments: (1) free trade agreements; (2) customs unions; (3) common markets; and (4) economic unions. Along with that, he also discusses the difficulties of implementation of these agreements.
Thus, for instance, he writes that slow pace of negotiations forced many countries to speed up the process of liberalization of legal services market through preferential trade agreements, and that Switzerland was compelled to conclude these agreements along with multilateral negotiations. Particularly, Switzerland has established four criteria, necessary for finding relevant partners. These are: economic significance of the country, current or potential discrimination against Swiss exporters, readiness of partner-countries to conclude preferential trade agreements and political opportunities, deriving from such agreements.
Discussing the legal services market in Singapore, the author adduces very interesting fact. He writes that Singapore authorities are very sensitive in regards to legal education and demand that candidates for law practicing licenses receive a diploma from one of four American universities or ten Australian universities. This list includes: Harvard University, New York University, Columbia University and Michigan University. Interestingly, there are no such universities in the list as Yale University and Georgetown University, which has highest ratings amount U.S. universities. Such discriminative attitude is also characteristic to some law firms in Moscow and St. Petersburg, who require from their candidates a diploma from Moscow State Institute of International Relations, Moscow State Academy of Law or Moscow State University. You do not even know who is better or worse: Singapore authorities or some law firms in Moscow and St. Petersburg.
Deriving from above said, one should note that the book is difficult to comprehend but is very informative and useful for those who is interested in the field of regulation and promotion of legal business. These are PR managers, directors of law firms, partners of law firms as well as representatives of academia, who is interested in comparative analysis of legal markets of the world.
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