Last month, Dentons announced its plan to combine with Indian law firm Link Legal to form Dentons Link Legal, marking a likely first for that country’s legal market. Atul Sharma, recently appointed as chairman of the firm, describes the combination in detail, as well as how he hopes it will benefit his firm.
ALB: Can you talk briefly about how the combination with Dentons came about? Did it build on an existing relationship?
Atul Sharma: Dentons and Link Legal have been in discussions since 2018. Link Legal was a member of the Nextlaw Referral Network, the first global legal referral network that was not "pay to play" but based solely on quality and has more than 750 members across 200 countries.
During our past interactions with Dentons, we realised that Dentons and Link Legal share the same vision for the future and that the combination would enable both firms to connect talent to opportunities in India and worldwide.
ALB: From your firm’s perspective, what were some of the drivers behind this?
Atul Sharma: Link Legal approached Dentons because we recognised that a combination of our firms would help us meet and exceed the needs of our clients, who are increasingly becoming global.
Importantly, the combination allows us to be both local and global, helping us connect our clients to leading legal talent in global markets, while continuing to retain our local culture and be wholly owned, controlled and managed by Indian lawyers at Link Legal in India.
ALB: Can you describe the combination and why it’s unique? Will it change your internal structures or processes in any way?
Atul Sharma: The Bar Council of India does not permit the registration of foreigners to the council. One can only practice law in India if registered at the Bar Council. This is not unlike the majority of places where Dentons has combined with a local firm, and Dentons' structure does not require lawyers to practice in places where they are not in and of the community.
Dentons’ polycentric business model means that Dentons does not fly lawyers into a country to practice law. Dentons Link Legal Indian lawyers will represent clients inside India, and Dentons' lawyers will represent Link Legal’s clients outside of India, becoming one firm consistent with the rules and regulations of India. The legal practice in India will continue to be wholly owned, controlled and managed by Indian lawyers at Link Legal in India with no foreign ownership or control. We are not aware of any other global firm whose business model would facilitate a full combination with an Indian law firm.
The unique polycentric structure, which is based on a Swiss Verein, strives to identify the positive attributes of a partnership, allowing Dentons to combine with high-quality firms in many jurisdictions respecting the legal and regulatory requirements of each jurisdiction.
Dentons is not acquiring, merging, or investing in Link Legal, nor is it sending foreign lawyers to control the Indian office or practice law in India. As is the case with each part of Dentons, it is one firm but allows multiple underlying organisations, and each local practice retains control of its operations, finance and office leadership.
As has been the case with Dentons around the globe, decisions and actions to grow our Indian offices, retain and attract additional talent and make strategic investments will be the responsibility of Link Legal's leadership.
ALB: How do you expect Link Legal to evolve after the combination? What new practice areas/sectors do you envision the firm will explore?
Atul Sharma: Link Legal plans to leverage its combination with Dentons to increase its brand profile and to connect India-based clients to top-tier legal talent around the globe. The combination with Dentons will provide access to sophisticated new technology and leading talent, allowing us to provide seamless, integrated services to clients both in India and across more than 200 locations worldwide.
Our firm is a full-service firm, and Dentons and Link Legal will collaborate in all practice areas, including dispute resolution, exchange control and foreign investment, employment, intellectual property rights, projects, claims and disputes management, general corporate and commercial, M&A, joint ventures and private equity, restructuring and insolvency, securities market, statutory risk management programme and white collar crime and industry sectors including aviation, real estate, technology, media and telecommunications, banking and finance, healthcare, life sciences and agriculture, infrastructure, energy, oil and gas, manufacturing, cryptocurrency, fintech and pharmaceuticals.
