But detractors of the BRIC grouping have long-claimed that it has served its purpose – partly because it overlooks some of the greatest stories the world economy has to tell.
Turkey – the world’s 15th largest economy and EU wannabe – is a case in point. Not one to shy away from the challenge of entering a relatively untapped market, DLA Piper is poised to establish a presence in Turkey through a tie-up with Istanbul’s Yüksel Karkin Küçük (YKK) (see story ).
This comes after the firm earmarked Sao Paulo as a base from which to tap into the rest of Latin America (see story ) and formed a Kenyan association to gain further exposure to the South African market (see story ).
The challenges posed by India – where DLA Piper is understood to want to hone down the number of parties it works with – were highlighted by a recent Bombay High Court decision, which sent Ashurst packing (see story ). But given that BTIC or BICS just doesn’t have that same ring to it, BRIC is probably destined to stay. Even if the law firms aren’t.
For more on the Turkish market click here for our Turkey Special Report
Also on TheLawyer.com: Quinn Emanuel launches in Germany with A&O IP team; the Master of the Rolls slams the convoluted regulation of UK legal services; and can BLP re-brand itself through hiring a PR and marketing guru? Also, check out the latest Bad Law blog here .