Services Sector

Lawyers sell services–and services are increasingly sold across international borders. In fact, services generally are becoming the new game. In 2004, services, sold alone or as support features to the sale of good and products, accounted for over 65% of the gross domestic product (GDP) in the US, 50% of the United Kingdom’s GDP and 90% of Hong Kong’s. Our clients sell both goods and services. The growing “global economy”, the expansion of the services sector, the Internet and the resulting ability to partner with people and entities all over the world permit our smallest clients to do business abroad. And lawyers in all jurisdictions can act for interests outside their borders. You, me, our clients and our partners are now international players. Every day we meet new ideas, new markets, new regulatory schemes, new traders and new customs. Our new world may not be exactly “flat” yet. But it’s certainly become busier and smaller very quickly.