UK legal system sets global standard

In a recent report, the Law Society of England and Wales underscored the UK's continued leadership in global justice, with English law governing approximately 40% of international business and financial transactions. London, renowned for its arbitration prowess, dominates as a jurisdiction of choice, drawing parties from an expansive array of nations. The London Commercial Court, a pivotal player in resolving commercial disputes, reports that over half of its cases are concluded in under a week, reflecting an increased international demand for its services.

According to Richard Atkinson, president of the Law Society, "The UK is a leading international legal centre recognised and respected the world over because of our laws and top legal professionals." This remarkable standing is evidenced by the UK legal services export figures, which have surged to a substantial £9 billion in 2024. However, Atkinson emphasised the necessity for further governmental investment in court infrastructure to maintain this competitive edge.

With six out of ten litigants in the London Commercial Court hailing from abroad and representative of a record 93 nationalities, London’s commercial dispute resolution capabilities remain unmatched. The court outperforms other leading arbitration centres globally, including Dubai and New York, increasingly affirming English law's strength. Notably, 78% of arbitration cases in the London Court of International Arbitration relate to contracts under English law, illustrating its preeminence.

Despite these successes, Atkinson highlighted the importance of sustained investment in legal services, noting, “The Law Society is working hard to help our legal professionals access markets worldwide, collaborating closely with relevant authorities and international bodies." The report showcases the significant contribution of the legal services sector to the UK economy, with legal exports showing a remarkable increase from £6.48 billion in 2020 to £9.02 billion in just four years.

As the UK solidifies its position as a top global legal centre, the ongoing commitment to enhancing the court system will be vital for sustaining its influence and fostering continued growth in the legal sector.