The United States And International Business Transactions

The United States is a leader in international business transactions. As a result the law surrounding international business structures and business dealings has flourished in the United States. Companies around the world who have no ties to the United States use this country in forum selection clauses because they want the efficient structure of our legal system and alternative dispute resolution options. For being so advanced in most other areas of international business transaction law, one would think that the practice of law here in the United States would also be efficient and groundbreaking. Not only is the legal market in the United States behind the eight ball, but current legal ethics rules prevent law firms from utilizing some more flexible business structures. One of these is allowing law firms to be owned by non-lawyers, for example becoming a publically held company. By allowing law firms the option of being publically held, they have a better opportunity to reach greater potential. Like in most other fields the world is becoming smaller, and it is normal to do business internationally. Without changes in the ethics rules that affect the ownership and management of law firms in the United States, they will be left behind in a world where it is becoming increasingly important to be first and stay first in the international market of legal services. There is no denying that United States based law firms have some ability to compete in the internationalShow MoreRelatedCorruption International Business Concerns The Making Of An Unlawful Payment1503 Words   |  7 Pages Corruption international business concerns the making of an unlawful payment to the politician’s government officials of a host company. 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