WHAT WILL 2016 BRING?
Written on the 25 January 2016 by Brisbane Legal
BRISBANE lawyers are expecting a year propelled by the high-end corporate market, particularly in the areas of Mergers and Acquisitions, as the dollar continues to freefall and foreign investors take more of a shine to the property market.
What do you believe the legal landscape will look like in 2016 opposed to 2015?
Esteban Gomez, Piper Alderman (pictured right): It's an increasingly competitive environment and I'm expecting more of the same. We're in an industry that is continuously changing, I don't really see that change slowing up. You have to be nimble and dynamic and see that as the market changes the best you have to take those opportunities and subscribe is by adapting.
Where does the challenge exist?
Tim Sayer, Talbot Sayer (pictured left): While corporates now have strong balance sheets, I think the biggest challenge for the whole market is really just giving Mergers and Acquisitions teams within the corporate structure the confidence to go out and spend money. It's really just a matter of keeping confident in the face of these stock market troubles. To actually go out, make decisions and complete mergers and acquisitions, boards must really trust in the macro-economic climate.
What are some emerging pockets in Australian law?
Esteban Gomez, Piper Alderman: If you look at something like Allens Accelerate - a model that seeks to work more with startups and provide tailored solutions for services - I think that's very interesting considering the size, background and marketplace of such a firm. Everyone has identified the market changing very rapidly and sticking to a particular business model may not necessarily work. Challenges are created by participants acting disruptively, so we all have to look to not vying for work in a traditional sense.
Where do you believe key opportunities are in the near future?
Esteban Gomez, Piper Alderman: There are moves at the government level. If you look at what's happening in NSW with the privatisation of assets, you are led to believe that will unlock a lot of value down there and something like that could happen here. The privatisation of ports began in NSW and then carried through to Brisbane, Hastings and Darwin. Likewise, hopefully there will be a bit more stability in the QLD government going forward and therefore more infrastructure and construction activity. Also, free trade and the Transpacific Partnership with China and Japan - we are yet to see the real consequence of this.
What's changing on the client side?
Sandra Gibson, AdventBalance: There's so many law graduates now that many of them are looking at non-traditional careers. I think we will start to find more and more clients with legal backgrounds, which is a positive because it makes the system more collaborative.
Author: Brisbane Legal Connect via: Twitter