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CC eyes Indian market with Amarchand hire

Wah wah! (2) I wonder if the blame for Indian lawyers leaving Indian law firms in droves is attributable to law firms being run like personal fiefdoms in India instead of somehow to international firms offering a professional atmosphere and a pleasant alternative to what most law firms in India are - the 'family' (or to be fair, the single owner in some cases) gets the lion's share of the equity, special treatment, generally treat other partners and associates terribly and finally, appoint family in turn to continue to run the firm. Why would any self respecting individual, who has other options, continue to work in such a firm unless he or she has to? Add to this the generally dismal approach to client management, to enabling associates to develop their careers, a non professional work environment and it is no surprise that associates and partners who can, elect to leave. Make no mistake, the apparent uproar that there is in the Indian legal community about liberalisation of the legal services industry and entry of foreign law firms is attributable almost entirely to the owners of existing law firms in India. They make ridiculous arguments about limitations on partnership numbers (has this stopped Indian law firms from growing beyond 20 partners – no!), limits on advertising (shortly to be eased (finally)) and ‘law being a just / noble profession’ (which is an assertion so ridiculous and irrelevant to the argument, it does not even merit any text in brackets!) to essentially perpetuate their ridiculous monopoly. This medieval guild like stranglehold over the legal market must give way to a free trade consistent approach! Law students, young graduates, associates and even regular partners in existing law firms would likely welcome liberalisation of the legal services industry and the entry of foreign law firms in to India and frankly, God knows, many secretly hope to make exactly the same move that Guptan has today!

19-Aug-2008

3:32 pm