Legal and consulting practices are increasingly adding foreign trade compliance services to their portfolios. Few companies today are without foreign trade transactions, and many have or want to increase their access to global markets. The area is ripe with opportunities including:
Law firms often participate in client mergers and acquisitions as a way to expand their practice and stay competitive. In addition to helping structure the transaction, additional service offerings can include performing due diligence prior to the transaction. Thereby helping clients to better:
In the information-intensive world of law and consulting firms, knowledge management provides a competitive advantage. Access to both current and historical information in areas of rapid change is a cornerstone of the value-add legal and consulting firms offer their clients, and with superior access come sustainable improvements in talent productivity, a cornerstone of costs and business growth.
For firms seeking to expand their global presence and serve an increasing number of international clients, local experience is said to be critical to working overseas. However, for export and financial controls, U.S. expertise serves as a very robust model with its origin re-export frameworks, dual export control classification regimes, and vigorous restricted, denied, blocked and embargoed entity and country screening mandates.
With a solid practice in and access to U.S. export control statutes, regulations, content and screening technologies firms have a valuable global asset on which to build.