Unlike some of its European neighbours, relatively low unemployment and dynamic growth have enabled Germany to fare well in the wake of the financial crisis. Regarded as a major player in the automotive and chemicals sectors, a strong industry-led surge brought with it the so called blitz-schnell recovery. Early 2011 saw a renewed sense of optimism as Germany’s prospects countered the shadow of weak growth, which lingered over continental Europe.
Unfortunately, as the year progressed the German economy shifted onto a flatter growth trajectory and this optimism began to fade. According to figures from the Federal Ministry of Economics and Technology, the second quarter of 2011 saw GDP grow by just 0.1 per cent over the previous quarter. There were additional “temporary factors”, such as the uncertainty created by the E. coli outbreak and the sovereign debt crisis, that were reported to contribute to the weak growth rate. Nevertheless, the Ministry remains hopeful that there are still encouraging factors to consider: industrial output remained strong at the start of the second quarter and foreign trade is expected to provide a positive, although relatively mild, stimulus during the remainder of 2011.
Despite the financial turbulence, a constant is that Germany’s actions and reactions to global events are watched closely by the rest of the world. The biggest economy in the EU and the fourth largest in the world by nominal GDP, its importance in the international arena is unquestionable. Germany is also the second biggest exporter of goods globally and boasts an impressive 34 companies in the Fortune Global 500. With statistics like this it is not surprising that international law firms have implemented strategies to give them a strong foothold in the market.
A combination of domestic leaders, international heavyweights and niche boutique practices make the German legal market a particularly interesting one. Perhaps what makes it stand out from some other European countries is that its leading law firms are distributed across the country. While some cities are recognised for particular work, such as Frankfurt for banking and capital markets matters, there is no single specific legal centre.
Competition law is an area that exemplifies the diversity across the country. Germany has vibrant antitrust markets in Düsseldorf, Hamburg, Frankfurt, Munich and Berlin and the corresponding chapter is one of the largest in the current edition with 47 listings. Evidence of the continuing development of the field in Germany is the Federal Cartel Office’s recently established division devoted solely to cartel prosecution, with more staff then ever dedicated to eliminating anti-competitive practices.
The corporate tax chapter has the highest number of listings with a staggering 57 experts selected to feature. A resilient practice area, given that tax advice is relevant during an uptick or downturn, controversy work in particular continues to be an evolving field. Innovative and technological industries also prove to be popular with a host of new regulations implemented in recent years. We list 50 names in the internet and e-commerce chapter and 34 and 32 names in the patents and trademarks chapters respectively.
On the disputes side, both business crime defence and arbitration feature 37 names. The EU Mediation Directive, implemented in 2008, also demonstrates the importance of this form of dispute resolution across the region. In Germany, mediation is becoming increasingly popular and we list nine specialists in the field.
In terms of the future, given the uncertainty across the financial markets, there are of course some concerns about activity in various legal sectors. In particular, the European debt crisis continues to raise questions around the world. Germany, along with France, is playing a crucial role in steadying the situation – the two nations have pledged to put together a strategy to assist Greece, recapitalise banks and strengthen Europe’s economic governance. In spite of the current climate, what remains certain is the praise received by the talented and highly impressive German bar, making it a truly dynamic and diverse legal industry.
More than half of the leading firms we identify are international, with the UK magic circle firms having a particularly strong presence. Standing alongside these firms are the local practices, proving that they are a match for their international counterparts. With talent spread across the country, our research uncovers experts in 30 different practice areas.
Below we identify the leading ten firms in the country based on the number of listings they achieve in the chapters that follow.
Germany is home to one of the most sophisticated commercial arbitration bars in the world, and some of the world’s leading experts are to be found here. Our researchers identify the leading arbitrators and counsel based in the country, and in this chapter we list 37 outstanding practitioners.
Aviation is one of the leading industries in Germany. A major source of work for lawyers is asset and project financing. Due to the difficult European economy, the industry is experiencing a mild slowdown, but lawyers maintain their levels of activity by advising on regulatory and compliance issues and financial restructurings. We feature 13 lawyers in this chapter.
With a high exposure to Greek and Italian debt, German banks are facing uncertain times. Deutsche Bank, the country’s biggest bank, issued a recent profits warning in light of the intensifying European sovereign debt crisis. While lawyers remain active – in particular with re-financing and regulatory work – there is concern in the industry as to how things will pan out. We list 22 individuals with proven track records in banking work.
Increased regulatory focus on businesses in the wake of the global financial crisis has led to the exposure of numerous white-collar crimes in Germany. Not only is the number of cases increasing but so is the complexity of the matters themselves, becoming much more global in nature with prosecutors shifting their focus from individuals to companies. In this growing field, 37 lawyers are recognised as the pre-eminent defence specialists.
The year started off promisingly for the German capital markets with some record-breaking IPOs, but the second half of this year has seen activity hit a low due to the eurozone debt crisis and resulting volatile markets. Our research found that many lawyers saw a sudden decline in work as planned transactions were put on hold until early 2012, including the high-profile IPO of German chemicals maker Evonik. With uncertain times ahead, German lawyers expect to see more capital raising and refinancing. In this demanding sector we select 29 lawyers to feature.
Commercial litigation is booming according to our sources. The industry is seeing high volumes of activity in corporate, company, pharmaceutical and banking disputes, perhaps unsurprisingly as the companies see litigation as a long-term strategy to maintain their positions in the market. Lawyers with strong expertise and experience are in high demand, 25 of whom we feature in this chapter.
The past year has been an active period for German competition law, with the Federal Cartel Office (BKartA) establishing a dedicated cartel prosecution unit and drafting revised merger guidelines, and the Supreme Court handing down a precedent-setting judgement allowing the passing-on defence in competition damage claims. Sources note that the BKartA has been increasingly active – initiating numerous dawn raids at more than 100 companies since the beginning of 2010 – and the 47 lawyers we list in this section expect to see the strong demand for their services continue in the months to come.
While the construction industry is traditionally one of the first to feel the effects of an economic downturn, the sector in Germany remains relatively active. Our research identifies 22 lawyers recognised for their work on behalf of owners, contractors, subcontractors and design professionals.
Corporate governance issues have become increasingly important in boardrooms across the world, and our research picks out 31 individuals who are recognised for the quality of their business advisory work to boards, directors and officers.
Germany is considered to be a pro-immigration country, following the introduction in 2005 of a new law making it easier for highly skilled professionals, academics and scientists to enter the country. Last year, corporate immigration lawyers remarked on the willingness for foreign companies to expand their German operations, and this year is no different. There has been more of a shift towards traditional labour law issues, such as employee pension rights and income tax issues, but the number of immigration cases remains steady. Although the German immigration legal industry is small, the calibre of experts is high.
An uptick in M&A activity early on in 2011 saw a corresponding increase in transactional-related corporate tax activity in Germany. With uncertain market conditions casting a shadow over Europe, it will be interesting to see the impact on this type of work. As tax authorities become more aggressive globally, tax controversy work has been particularly active. Our research uncovers 57 leading practitioners recommended for their domestic and international expertise.
The past year has seen numerous developments in Germany’s environmental policy. Recently announced plans to close all German nuclear power plants by 2022 in the wake of the Fukushima Daiichi crisis, as well as the implementation of the European Commission’s Waste Framework directive, REACH regulations on the safe use of chemicals, and the WEEE (waste electrical and electronic equipment) directive have all created demand for regulatory advice, while cautious market recovery has seen a return to larger projects and transactions. The following 15 lawyers are the most highly regarded practitioners in this busy and dynamic marketplace.
Despite the economic downturn, franchising has continued to grow at a fast pace in Germany due to entrepreneurs looking to start their own businesses and franchising being viewed as a relatively safe option. With both domestic and international franchises increasing their presence in Germany it is a particularly busy time for lawyers and we have selected 11 of the country’s best in this section.
While the recent economic downturn has affected countries across Europe, Germany has weathered the storm better than most. However, demand for the country’s leading bankruptcy and restructuring lawyers is growing, and we identify 27 practitioners who stand out for their counsel to domestic and international clients in this field.
A key development in insurance and reinsurance law is the increase in regulation in the form of the EU Directive Solvency II, which aims to modernise supervision and increase the competitiveness of European insurers by requiring insurers to take account of all types of risk and manage them more effectively and with increased transparency. Lawyers are playing a key role in helping insurers understand these regulations and the compliance issues that derive from them. In this chapter we feature 15 leading individuals who are well equipped to deal with changes in the sector.
Information technology is such an essential part of business in all industries that companies cannot afford not to invest and develop their IT capabilities, whether internally or through outsourcing contracts, and seek advice on internal strategies to protect against data breaches, even in tough economic times. The German internet, e-commerce and data protection bar is highly sophisticated, and this chapter is one of the largest in the current edition, with notable inclusions from the big European firms as well as specialist boutiques. We feature 50 lawyers in this chapter.
Home to such industry giants as Bayer HealthCare, MorphoSys and GPC Biotech, the life sciences sector in Germany is one of the most sophisticated in Europe. With an EU-wide focus on innovation, research and market development in biotechnology, the following 22 members of the country’s already highly advanced life sciences market have seen their skills continually put to the test in recent years.
Management labour and employment lawyers are busy regardless of the state of the economy and those we spoke to reported that redundancies and M&A activity among companies has provided a significant number of restructuring cases over the last year. Furthermore, legislative changes to the finance and insurance sector bonus systems has generated advisory work on implementing new remuneration schemes. In this busy and dynamic sector we recognise 35 industry experts.
The implementation of the EU Mediation Directive in 2008 highlights the increasing importance of this method of dispute resolution. Part of a European-wide initiative to promote and regulate the development of mediation, the recitals to the directive focus on the cost, speed and overall efficiency of the process. In Germany, mediation is becoming an increasingly popular method of alternative dispute resolution and we list nine leading specialists in this area.
In the first half of 2011 there was a feeling of cautious optimism among German M&A lawyers. Although big ticket deals had not returned to Germany, mid-market activity was picking up momentum. With uncertainty across Europe as a result of the European debt crisis and recent stock market turmoil, the mood has returned to one of caution. Our research uncovers 23 lawyers who lead the field for M&A.
The German government expects to meet half of the country’s energy requirements from renewable energy by 2050. Despite this, it is likely that the oil and gas industry will continue to make a significant contribution to the country’s energy sector. One of the biggest energy consumers in the world, Germany’s central location also makes it a major hub for natural gas pipeline transit from Russia and the North Sea. Our research identifies four individuals with a proven track record in oil and gas work.
Recent decisions handed down from the German Federal Supreme Court on the assessment or novelty, inventive step and computer-implemented inventions have given rise to new and complex challenges for the country’s highly sophisticated intellectual property bar. We recognise 34 lawyers in this chapter whose skills and experience place them in the front rank of the German patent law marketplace.
Before the financial crisis hit, German private funds lawyers reported high levels of work: there was a lot of capital creation and a renewal of the investment market with company restructurings. Five years on, lawyers cannot ignore the effect that high-risk funds and investments have had on the dire European economic situation. Without a financial cushion all it took was one bad investment to lead to the collapse of many funds, including pension and real estate funds, leading to economic instability. As a result, a new EU directive has been introduced to monitor the behaviour of fund managers, which, as German lawyers remarked, has seen a reduction in funds deals in their country and shifted the focus to regulatory and compliance work. We feature 16 lawyers in this chapter.
Our research picks out 11 practitioners from across the country who are recognised both nationally and beyond for their expertise in the defence of product liability-related claims across a range of industries.
The use of public private partnerships (PPP) and similar combinations of state and private funding has been the main talking point for German and European project finance lawyers in the last few years. Recently, the level of public investment has been reduced due to government deficits and austerity policies, and a waning confidence in the European markets. But PPP remains a viable option among investors, and the four lawyers we feature in this chapter expect their practices to remain busy for the foreseeable future.
German public procurement lawyers, like their counterparts elsewhere in the EU, have had to grapple with the host of new regulations that have been handed down from the Commission in recent years. The adoption of the Remedies Directive among member states in 2009, which improves unsuccessful bidders’ rights to challenge contract awards, and the implementations of new rules in 2011 to improve market access for small and mid-sized companies and allow for greater cross-border procurement activity, have led to more activity in both contentious and non-contentious work. As EU-wide scrutiny of public spending takes centre stage in the ongoing sovereign debt crisis, the 12 lawyers we list in this section will continue to see their skills tested.
The global economic crisis dented the level of activity in the real estate sector globally. Although work in this sector has not yet returned to pre-crisis levels, German real estate lawyers are finding themselves busy once more. In total, 30 exceptional individuals are featured for their expert counsel in this discipline.
Germany is one of the trail-blazers in the race to 4G, having held its spectrum auction back in 2010. The next question is how the operators will finance the network. In addition, convergence is still a definite trend and is subsequently requiring lawyers to have a sound knowledge of general consumer protection legislation and the compliance issues applicable. Eighteen lawyers are recognised for their dynamic practices in this fast-moving practice area.
The sanctions and export controls against Iran and Libya have required a great number of due diligence reviews and investigations on behalf of companies engaged in international business. Furthermore, our research identified that there has been an increase in anti-dumping proceedings and a steady level of customs work. We recognise seven pre-eminent lawyers in this dynamic field.
In early 2011, the Munich-based Max Planck Institute and the European Commission (EC) published their Study on the Overall Functioning of the European Trade Mark System, which makes numerous recommendations in preparation for the future review of community wide regulations and directives. Proposals to increase competition and brand protection as well as community-wide standards on the remedies for trademark infringement will all have strong implications for the European trademark bar. The 31 lawyers we recognise below are at the cutting edge of the trademark law marketplace in Germany and are well placed to assist their clients through the developments of the coming years.
Allen & Overy LLP enjoys 16 listings across 11 practice areas. The firm is one of the biggest in the world for international business law, and the German inclusions reflect this reputation. With notable representations in capital markets, banking and corporate tax, the firm continues to showcase its corporate talent.
Baker & McKenzie LLP is one of the world’s largest and leading full service law firms. With nearly 4,000 lawyers in 69 offices worldwide, the firm is equipped to offer a diverse range of local and international expertise. The firm achieves 14 listings across 11 practice areas.
Clifford Chance LLP formed in 1987 and established its German presence through a merger in 2000 with Pünder Volhard Weber & Axster. Clifford Chance Germany has three offices in some of the country’s leading business centres: Düsseldorf, Frankfurt and Munich. The firm provides excellent local services with a global capability and attracts the very best national and international companies, banks, and investors as clients. Providing these clients with advice that looks beyond borders and spans multiple practice areas, the firm achieves 29 listings in 17 of the following practice sectors.
CMS Hasche Sigle is one of the largest German firms with over 600 lawyers and an extensive network that covers nine German cities with a further three offices outside of Germany, as well as being a part of the wider CMS network. The strong presence of the firm across Germany allows it to deliver a bespoke service to clients of the highest standard and it achieves 21 listings across 13 of the following sections.
With over 2,400 lawyers in 27 offices around the globe, Freshfields Bruckhaus Deringer LLP is a pre-eminent international law firm and is our global law firm of the year 2011. Freshfields was created after two mergers in 1999 and 2000 with German firms, establishing a strong position in the domestic market, and today the firm has more than 725 lawyers based in six offices in the country’s major business centres: Berlin, Cologne, Düsseldorf, Frankfurt, Hamburg and Munich. The firm is committed to providing clients with innovative solutions of the highest quality and the success of this strategy is demonstrated by our research: the firm has 58 listings across 24 practice sectors, with particularly strong showings in the competition and corporate tax chapters.
Gleiss Lutz is a well established full service law firm with over 280 lawyers at its disposal across six offices in Germany and one in Brussels. Gleiss Lutz prides itself on its ability to provide clients with top quality advice and an excellent service, and this strategy ensures that the firm is trusted by leading German and international businesses and public authorities. In addition, the firm maintains a global network of associated firms that it uses to great effect to ensure a client’s international needs are met. The firm achieves 36 listings in 15 chapters.
Hengeler Mueller is a national law firm with offices in Berlin, Düsseldorf, Frankfurt and Munich, as well as international offices in London and Brussels. With more than 250 lawyers, the firm is well equipped to serve major national and international clients in complex transactions. The excellence of the firm is evidenced by its impressive client list, which includes 22 of the 30 DAX companies, 31 of the EURO STOXX 50 and 14 of the Dow Jones 30. We recognised the firm as our German law firm of the year 2011, based on its impressive performance in our international rankings. In this special report we recognise 45 lawyers across 15 practice sectors.
Built upon the longstanding reputations of Hogan & Hartson and Lovells, the post-merger firm Hogan Lovells is a top 10 leading global law practice with a presence in the US, Europe, Asia, Latin America and the Middle East. The firm’s German operations are carried out in its five offices based in the country’s financial and business centres. The firm works tirelessly to guide clients through their business difficulties seeing itself as an addition to the client’s team. This commitment to client service has seen the firm achieve 22 listings across 13 practice sectors worthy of the title of being a “leader in their field”.
Linklaters LLP is a truly global firm – with over 2,200 lawyers spread across 26 offices in 19 countries – and a large portion of its work is multi-jurisdictional. With offices in Frankfurt, Düsseldorf, Munich and Berlin the firm offers clients a fully integrated service covering all their corporate, financial and commercial needs. The firm strives to support and guide clients through their legal problems arising from changing markets and regulation and our research indicates the success of this strategy with 22 lawyers selected in nine sectors.
From its German roots as a partnership in Munich in 1950, Noerr has developed into a large European firm with five offices in Germany, one in London, one in New York and a further seven across central and eastern Europe. The firm retains a strong presence and excellent reputation in its founding country and our research identifies its strength in the areas of competition and environmental law in particular. We recognise 19 lawyers across 11 sectors.
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Nominees have been selected based upon comprehensive, independent survey work with both general counsel and private practice lawyers worldwide. Only specialists who have met independent international research criteria are listed.
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