Mercado Legal En Colombia
The Chamber of Legal Services of ANDI is an association of law firms that since 2006 has accompanied the development of legal services in Colombia and responds to the needs of the legal sector. The group of companies unites in response to the need to promote law as an instrument of economic and social development of the country, creating a legal environment that allows its development and offers national and international visibility to law firms. This fragmentation of the market is also evident at the regional level, as companies from cities other than Bogotá, which traditionally served local customers, have gained national relevance. “I don`t think we can talk about a wave of provincial companies, but now they are more relevant than they were a few years ago, like the case of Uribe Henao Abogados from Medellín,” Gervin noted. The ability to adapt to the unprecedented commercial, social, governmental and economic dynamics taking hold in the country, as well as the new legal framework, will be the main success factor for law firms by 2022. If in 2020 uncertainty shook the Colombian judicial authority and in 2021 the reactivation determined the strategy of many law firms, the motto until 2022 will be innovation, especially in the scenarios proposed by the Covid-19 pandemic. As legal services is an area of great value and social responsibility, the Chamber works on several fronts and, through committees, supports government or civil society initiatives on investment and economic development issues. It is questionable whether the market has the capacity to accommodate so many lawyers, and the figures show that it does: while the Colombian economy contracted by 6.8% in 2020, the legal services sector grew by 1.8%, recorded operating revenues of $ 2.55 billion and the number of companies reached 663, according to figures from Andi`s Chamber of Legal Services. In this sense, Guillermo Cáez, partner of Cáez Muñoz Mejía, pointed out that the current panorama is similar to that of 2015, when many boutique companies were born and then absorbed. “Those of us who survive are consolidated in the market, and more and more small and medium-sized businesses are competing because we have a differentiated value proposition, and this has led to changes in issues like pricing and talent retention,” he said. Regional companies are also an important pillar of the market. In addition, at the associate level, José Alejandro Vivas was recruited from the former Pardo boutique, while Juan Pablo Díaz joined Brigard in November 2021 Urrutia.In In addition, the firm continued in August with the creation of the law firm Montoya y Asociados, which strengthened the energy and raw material capacities of the office and the mines in particular.
with founding partner Milton Fernando Montoya, who is registered as a lawyer and has three partners. Finally, the market also welcomed several new spin-off companies this year. The former tax law firm Cañón & Cañón Abogados was restructured in early 2022 to form two new derivative tax boutiques: Cañón Thompson was founded in April 2022 by founding partners Carolina Cañón, who was also a founding partner of his previous firm, and Eric Thompson (former tax partner at KPMG). Similarly, Cañón Asociados was founded by Carlos Andrés Cañón, who co-headed the tax department of the inherited company. In addition, this is accompanied by a change that occurred gradually about 15 years ago, and that large companies, which traditionally sought almost exclusively consolidated executives, are increasingly willing to use the legal services offered by boutique companies for various issues, which has opened up opportunities for penetration. “Apart from Colombia, Chile is the only country in the region where we have seen this phenomenon, which has already experienced the explosion of many small shops for several years, also because it is a very dynamic economy with a very developed legal market, but at the same time small. There are several companies that have reached the upper limit of their own economy, they can no longer grow, and therefore they cannot name new partners, and people know and leave, and if they operate in relevant sectors, they create their own companies.