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Understanding US law firms in the UK
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<blockquote data-quote="ALYH" data-source="post: 123219" data-attributes="member: 13128"><p>Hi TCLA!</p><p></p><p>I am trying to understand how US law firms operate in the UK. Take Reed Smith as an example, Reed Smith is not a Swiss Verein law firm so my understanding is that it Reed Smith has one global profit (Reed Smith UK shares its profit with other Reed Smith entities). My questions are:</p><p></p><p>1. How does Reed Smith UK bill its clients? Would they bill its clients in US$ or £? </p><p>2. In terms of expenses, do you know if they are done in US$ or £? </p><p>3. Do they pay their lawyers in the UK in ££ or US$?</p><p>4. How do you think the surge in US$ is affecting US law firms operating in the UK? In particular, the tech industry. I was thinking that in relation to M&A, it would be cheaper for US companies to invest in the UK which would increase M&A deals but it would weaken UK's tech industry in that there would be less UK tech companies in the market as they would essentially be owned by US companies. It seems that this would be beneficial for US law firms in the US but not US law firms. Am I right to think that? Additionally, how do you think the surge in $$ would affect UK tech industry?</p><p>5. Additionally, I believe that impact of the strong $$ on the tech industry and therefore the legal profession can be discussed alongside interest rates that have recently been increased in the US and the UK. What do you think? </p><p></p><p>Thank you for your help on this!</p></blockquote><p></p>
[QUOTE="ALYH, post: 123219, member: 13128"] Hi TCLA! I am trying to understand how US law firms operate in the UK. Take Reed Smith as an example, Reed Smith is not a Swiss Verein law firm so my understanding is that it Reed Smith has one global profit (Reed Smith UK shares its profit with other Reed Smith entities). My questions are: 1. How does Reed Smith UK bill its clients? Would they bill its clients in US$ or £? 2. In terms of expenses, do you know if they are done in US$ or £? 3. Do they pay their lawyers in the UK in ££ or US$? 4. How do you think the surge in US$ is affecting US law firms operating in the UK? In particular, the tech industry. I was thinking that in relation to M&A, it would be cheaper for US companies to invest in the UK which would increase M&A deals but it would weaken UK's tech industry in that there would be less UK tech companies in the market as they would essentially be owned by US companies. It seems that this would be beneficial for US law firms in the US but not US law firms. Am I right to think that? Additionally, how do you think the surge in $$ would affect UK tech industry? 5. Additionally, I believe that impact of the strong $$ on the tech industry and therefore the legal profession can be discussed alongside interest rates that have recently been increased in the US and the UK. What do you think? Thank you for your help on this! [/QUOTE]
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