Maxim Ali has provided his comments to the Novy Prospect on the prospects of Russian legal market in 2021

Maxim Ali, Partner at Maxima Legal, has shared with the Novy Prospect online edition his vision of the development of the Russian legal services market in 2021

“The pandemic affects the legal market in different ways, and it’s quite difficult to predict which factors will take over. On the one hand the economic situation is very difficult. Companies are trying to reduce costs, and all types of consultants are no exception. Drastic decrease of business communications is another negative impact. There are less trainings, seminars, conferences and even personal meetings so building relationship with new clients complicates. On the other hand, companies’ needs have not gone away: experienced clients understand that excessive savings on legal support may cause even greater losses (in courts, administrative proceedings) in the future. Moreover, in some areas (for example, disputes or bankruptcy) the number of requests has increased, so we can wait with guarded optimism that 2021, albeit not in full, but will make up for the mistakes of 2020.

The strategy of many firms, including law firms, is simply to wait out these difficult times and survive. But if a firm’s resources allow, it can also act more aggressively, such as adding promising talent to its team. Potential candidates might be more comfortable in their current position or have more offers at other times . In this regard, the cuts that some firms have made have enriched the job market with interesting professionals”

To read the full article (in Russian) please see the Novy Prospect website >>>