Britain will flourish as global legal centre despite Brexit, says Law Society

Britain will continue to be an attractive place to do business whatever the outcome of Brexit, the Law Society of England and Wales said.

Britain will continue to be an attractive place to do business whatever the outcome of Brexit, the Law Society of England and Wales said.

A Law Society report published today - England and Wales – A world jurisdiction of choice - outlines the benefits of English law, our courts and judiciary and our “highly respected” arbitration system which it says will continue for years to come.

English court judgments have a world-wide reputation for quality and are often highly persuasive in the courts in other jurisdictions, as the report points out.

The Society’s president, Simon Davis, said Britain’s appeal to businesses is “underpinned by a system of law that has fairness and business sense at its heart” and people come from around the world to do deals in Britain because English law is flexible, business friendly and moves with the times.

Launching the report, he added: “That is true today, it was true before the referendum and it will be true regardless of the outcome of Brexit.”

More than 200 foreign law firms currently have offices in the UK and, in 2018, 76 per cent of arbitrations in the commercial courts were international disputes.

Mostly unaffected by EU law, English common law is, said Davis, “common sense for business”.

He highlighted key factors attracting foreign businesses to the UK including its “unrivalled infrastructure of professional support, specialist courts, a world-renowned system of arbitration and a high-calibre judiciary with an international reputation for rigour and independence”.

English law is also accepted and used by the financial markets; and solicitors are highly skilled and bound by the highest professional standards.

Also, we have an open jurisdiction “allowing lawyers from around the globe to build their careers here”.

Davis said this particularly makes London a place where global legal expertise is convened and that is invaluable for international businesses.

He added that under our common law system, the predictability of the interpretation of contracts means commercial parties can ensure “with considerable certainty” whether a particular course of action will stand up.

“The principle of clients being able to opt for their law of choice in commercial contracts is respected in the EU and will be upheld in EU courts just as it is in the UK,” he said.

The report includes testimonials from individuals and businesses, both within the UK and in other jurisdictions, demonstrating their positive experiences and confidence in the British legal system and the courts.

A Japanese lawyer, for example, said: “English law provides a high degree of certainty… Whilst English law is quite complicated and has some complexity… that also means there is a certain level of certainty or transparency for the users’ contracts…

“Users can trust and rely on how the terms of contract in English law operate.”

And as Scott Hopkins, an England and Wales-qualified lawyer at Skadden, succinctly said: ”