The Latin American Lawyer September 2018 LATAM MAGAZINE SEPT18 | Page 3

Editorial
“
Some firms are struggling
to meet clients’ demands
”
Law firms in Latin America are experiencing a boom in M&A
work. As we report on page 4 of this issue, some leading firms
in the region have reported increases of up to 50 per cent in
transactional activity as foreign investors take advantage
of government reforms aimed at making investment more
attractive.
That’s the good news. What will be of more concern is
that the foreign investors who are snapping up assets in the
region may expect certain standards of service from their
legal advisers that some firms may struggle to deliver. As
highlighted in our report, few firms in Latin America are able
to completely satisfy all the needs of clients, many of whom are
now demanding enhanced levels of accountability, availability,
consistency and delivery, for example.
These are tests that law firms will have to pass if they are
to thrive in this rapidly evolving market. One way in which
clients are heaping the pressure on their legal advisers is by
insisting they make greater use of technology. As we highlight
in our feature on pages 14 and 15, this trend is forcing law
firms in Latin America to explore the opportunities offered by
artificial intelligence (AI). However, it’s a fine line managing
partners have to tread – AI will undoubtedly increase law
firm efficiency, but, as some law firm leaders point out, it
must not be implemented at the expense of some of the
profession’s fundamental principles, such as responsibility and
confidentiality.
www.iberianlawyer.com/latin-america
September 2018 • THE LATIN AMERICAN LAWYER •
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