The Lawyer magazine (UK) has reported that Chinese law firm Yingke has entered the newly liberalized Israeli legal market.
The Lawyer reported that Yingke “merged with Israeli boutique firm Eyal Khayat Zolty, Neiger & Co, for its first step into the jurisdiction. The local firm has rebranded itself as Yingke Israel and will cooperate closely (without financial integration) with Yingke’s 20 offices in China as well as the firm’s 16 overseas offices and alliances.
Israel’s high-tech sector, An area of specialty for Eyal Khayat Zolty, Neiger & Co, was one major motivator for the merger. Notably, ”Since 2010, Chinese companies, both state-owned and private enterprises have increasingly invested in Israel’s technology sectors”.
Legal market liberalization the catalyst
Israel’s legal market was recently liberalized and there has been interest from foreign law firms. Like other markets that have experienced recent legal market liberalization, incumbent domestic law firms see not only increased competition from overseas firms — but also potential opportunities, as this recent China-Israeli law alliance exemplifies.
What’s next? Chinese law firm Yingke in the Israeli legal market
The Israel Bar Association will conduct a full-day conference in Tel Aviv on June 27 to discuss these and other developments related to the liberalization of the Israeli legal market. Foreign law firms operating in Israel will attend the conference along with Israeli law firms operating abroad.
Zohar Fisher, CEO of Robus Legal Marketing will be the Academic Organizer and Moderator for the event. Zohar explained how significant conference participation of foreign law firms from around the world shows that this reform has the ability to change the Israeli legal sector.
Given the recent entry into the market by Yingke and the potential opportunities available for firms who enter the market – this conference should be a very interesting insight into what the future may hold.
