Olisa Agbakoba Legal (OAL), one of Nigeria’s leading commercial law firm, just announced a synergy with Capstone Legal, a fast-growing law firm with its law offices headquartered in Jaipur, India.
In a press release announcing the synergy between Olisa Agbakoba Legal and Capstone Legal, Dr. Olisa Agbakoba, SAN, senior partner at OAL said that the “synergy between the two leading law firms is a very significant development in the context of growing Indo-Nigerian trade and bilateral relations which is now topping $10 billion annually.”
“. . .we believe that there is need for quality legal services involving a combination of Nigerian and Indian law,” says Vagish Kumar Singh, managing partner of Capstone Legal.
The synergy between Olisa Agbakoba Legal and Capstone Legal is the first (public) tie-up between a Nigerian law firm and an Indian law firm geared at expanding international cross-border work for the two law firms.
International law firm collaboration Analysis
In a fast-shrinking, increasingly global world, Law firms and lawyers now actively work to become international players with strong international, cross-border focus. Gaining international collaboration opportunities helps law firms to be able to service international multinational clients with seats of operations across multiple jurisdictions in order to provide a seamless work experience and ensure speedy transactions delivery for these multinational clients.
Furthermore, with companies facing more complex business problems that require solutions cutting across more than one jurisdiction, each with differing primary legislation, it becomes imperative that collaborations or “synergies” or “tie-ups” become important so that speedy resolution of these complex business problems can be guaranteed.
That is what makes international law firm networks an important facet of the process of collaboration because member firms in these law firm networks get to actively work to learn more about the other law firms in their network and can reach out if and when the opportunity to collaborate arises.
“Law firms now value synergies and local participation,” says Kingsley Ugochukwu Ani, head Legal Business Marketing at Kabbiz. “These cross-border collaborations enable law firms seeking to expand their operational market to do that while sharing the client lists of these other firms to handle transaction in their jurisdictions. Furthermore, companies—both multinationals and smaller ones—have confidence when they are sure that their business interests are protected across borders by a team working across jurisdictions or in collaboration with competent firms in these local jurisdictions.”
With law practice regulations and legislations usually precluding international law firms from operating in many local jurisdictions (eg: Nigeria), the need for collaborations on cross-border works and creating tie-ups become necessary.
“In Nigeria, there are several such arrangements between Nigeria’s leading law firms and international firms, though low key,” says Kingsley Ani. “However, we have the more popular—read Public—collaboration between the Lagos-based Olajide Oyewole LLP and the global Swiss Verein DLA Piper wherein the former became a part of the latter’s Africa practice.”
So, we do hope other firms deeply scrutinize this new synergy between Olisa Agbakoba Legal and Capstone Legal for insights.
About the Firms
Olisa Agbakoba Legal is a leading commercial law firm headquartered in Lagos, Nigeria. The firm’s fee earners work across practice areas ranging from commercial litigation, commercial arbitration, debt recovery and insolvency, sports, entertainment law and Tech.
Capstone Legal specializes in cross-border commercial disputes and corporate advisory. The firm is one of India’s fast-rising law firms.