2. Firms will develop offerings that transcend jurisdiction.
Our findings: As the pace of globalization quickens, the nature of jurisdiction will change. It’s not just that corporations and other institutions will need to navigate dozens or hundreds of sets of rules and regulations — they’ll also have a significantly greater need to choose among them. These clients will expect their counsel to keep up.
The opportunity: Firms will employ technologies to help them rapidly understand how a transaction might play out across all possible jurisdictions. Then, crucially, they’ll use their human ingenuity to craft offerings that transcend jurisdiction, maximizing clients’ freedom to act across the globe in real time. Top legal minds will help regulatory bodies and intergovernmental organizations figure out how to make sure everyone plays fair in this new arena.