Abstract
This chapter examines the evolution of the Spanish legal market as it pertains to business law firms with a particular focus on Spain’s “Big Law” firms. The Spanish legal market, as it is known today, began its evolution in the late 1970s. It was then when a series of internal and external forces (such as the penetration of the Spanish market by international law firms—primarily UK and US firms and the increasing needs of clients) began to disrupt the apparent harmony enjoyed by its lawyers. These forces drove law firms’ leadership to leave behind the classic law office model and to embrace a more sophisticated commercial model following the example of their UK and US counterparts. The result is a complex and diverse market, where both domestic (also known as independent) and international law firms navigate and fiercely compete for the same finite client pool, led by different strategies, and governed by different corporate governance structures. This work is based on both quantitative and qualitative data updated in December 2013 and June 2014, respectively. The author has employed a wide array of qualified secondary resources including books, articles, legal directories as well as primary resources such as interviews with some of the main players as well as discussions with industry watchers and experts. All bibliographic information is set forth at the end of the document.
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