If anything characterizes the Spanish legal sector, it is its fragmentation. Despite the mergers of recent times, the consolidation expected by many has not yet taken place. Around half a thousand firms (most of them small) compete in a market where the estimated turnover is 6 billion euros.

And although the cake is being shared out, foreign firms interested in taking the leap into our country are continually emerging. In a sectorial environment like the current one, the competition to gain share is very strong and exerts a strong pressure on the fees.

Jaime Olleros, Managing Partner of Andersen Tax & Legal, says that, the political and economic situation limits the demand for legal services, mainly in some areas and in a cyclical way, and the global market and new business models require services that are far from the traditional ones.

Andersen Tax & Legal sees room for growth in regulatory changes, in new market niches focused mainly on new technologies and in highly specialized sectors. "It is in this area where there are opportunities for the legal profession and allows new players to make room and take positions and continue to grow the existing ones", Olleros summarizes.

You can read the full article in Confilegal.