RECAP: TOPIC 6 – INTERNATIONAL EXPANSION STRATEGY & NECESSARY LEGAL FRAMEWORK | ONLINE EVENT SERIES "PROFESSIONAL LAW FIRM MANAGEMENT – REAL AND FICTIONAL STORIES"
On the afternoon of March 21, 2025, the sixth and final online discussion, "International Expansion Strategy & Necessary Legal Framework", successfully concluded the “Professional Law Firm Management – Real and Fictional Stories” series, organized by ADR Vietnam Chambers in collaboration with 17 leading commercial law firms in Vietnam.
During the event, guests, speakers, and participants discussed various topics related to law firm organizational structures under Vietnamese law, key factors influencing management structures, international expansion strategies, and the necessary legal and financial frameworks for such expansion.
The event was held with the participation of coordinators, guests, and speakers:
- Lawyer Nguyễn Mạnh Dũng, Director, ADR Vietnam Chambers (Coordinator)
- Ms. Đặng Kim Hoa, Senior Specialist, Deputy Director of the Department of Legal Aid (Special Guest)
- Lawyer Trần Anh Đức, Member, Allen Overy Shearman Sterling Law Firm (Vietnam) (Speaker)
- Lawyer Phạm Bá Linh, Managing Partner, Lexcomm Vietnam LLC (Speaker)
- Lawyer Trương Nhật Quang, Managing Partner, YKVN Law Firm (Speaker)
- Lawyer Ngô Thanh Tùng, Managing Partner, Vietnam International Law Firm VILAF (Speaker)
Key Discussion Points:
Types of Law Firm Structures in Vietnam:
Most law firms in Vietnam are organized as limited liability companies (LLCs) with two or more members, and very few law firms operate as partnerships. The main reason is the limited liability of partners in an LLC, compared to unlimited liability in a partnership. Another structure discussed was the Limited Liability Partnership (LLP), which is widely used in countries like the UK and Singapore but not yet regulated in Vietnamese law. The suitability of allowing LLPs in Vietnam was explored as it combines features of partnerships and LLCs, offering limited liability while allowing flexibility in the number of partners.
International Expansion Strategy for Vietnamese Law Firms:
The speakers, who are partners in both Vietnamese and international law firms, shared their insights and experiences about internationalization. While each firm has its own approach, the consensus was that international expansion is a challenge requiring a well-thought-out strategy. Factors such as human resources, costs, and legal culture must be considered. Methods for expanding abroad include seconding staff to foreign law firms and establishing branch offices overseas. Ms. Đặng Kim Hoa shared that the Ministry of Justice welcomes the internationalization of Vietnamese law firms and is ready to offer support when needed.
Support from Professional Organizations and Legal Framework Changes:
As Vietnam’s state apparatus, including the Ministry of Justice, undergoes reforms, and with the Law on Lawyers being reviewed for amendments, the discussion also focused on how professional organizations like the Vietnam Lawyers Association and local Bar Associations could impact law firm management. Speakers and guests discussed potential changes in the legal framework that could help Vietnamese lawyers compete regionally and prepare for a new era of legal practice. While legal reforms are necessary, it was emphasized that law firms must proactively improve their legal services and management practices to adapt to international integration. Additionally, professional organizations in Vietnam can take cues from global associations like the International Bar Association (IBA) and the American Bar Association (ABA) in supporting law firm management.
Mini Survey Results on Law Firm Management Practices:
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- 61% of law firms have established and documented their governance structure and decision-making processes and have clearly outlined how profits are shared among partners.
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- 52% of law firms have all members officially recognized, regardless of the legal and financial agreements between them.
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- 43% of law firms have set up mechanisms for communication among members and with management, have clarified the firm's capital structure, and defined roles and responsibilities for partners.
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- 39% of law firms have transparent processes for selecting leadership and appointing management positions.
For more information about the "Online Law Firm Management Series 2025" with the theme "Professional Law Firm Management – Real and Fictional Stories", see here: link
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