Global Economic Conditions have a widespread impact on the markets worldwide. They can influence the economy of every country in the world. The commodity and the services industry get equally affected by the prevailing conditions of a country’s economy like the world’s. The recent global economic crisis has crushed the financial structure of many powerful economies of the world. The figures of cumulative loss and gains compared to the GDP are a clear-cut indication of the status of the economy worldwide. Recent COVID-19 situations have completely changed the ability and the way of foreseeing the future of experts. It tells the people that the level of uncertainty and unpredictability can’t be measured accurately. Such conditions give birth to disputes. These disputes can be of different types including business disputes, partnership disputes, employment disputes. Services like “Legal Services” & Debt Recovery Dubai are acquired for this purpose. Legal Services and Debt Recovery Services both can be acquired from one company. Such a Company is called a Law Firm. Law Firms in Dubai are known as one of the Best Law Firms in the region. Law Firms are the real-time need and the real-time support when it comes to resolving a case in court. Court Cases can’t be managed by the person himself. Research shows and tells us that when people try to fix the cases themselves they end up with defeat.
Boutique Law Firms Concept: The global recession has negatively impacted the services industry. Firms providing legal services carry the burden of it. Large-Scale Law Firms are facing the brunt of it exclusively. Their survival is difficult due to high operating costs. The novel concept of boutique law firms has emerged from the current scenario of economic recession. Boutique Law Firms are kind of small Law Firms usually managed by and with 20 or 15 people. Boutique Law Firm is a good concept nowadays. Boutique Law Firms employ a limited number of lawyers to form their legal teams. These attorneys come from larger firms and are already in practice. Such firms work on limited-liability partnerships. However, the highlight of such firms is the exclusive expertise of their attorneys in a niche domain of law. Boutique law firms have some attributes which distinctly distinguish them from conventional large-scale law firms. Boutique law firms generally operate on a smaller scale than the usual wide-scaled operating ones. Not more than two lawyers are engaged in this type of law firm. The hired attorneys of such firms are usually ex-employees of large-scale law firms. They voluntarily quit those jobs and come together to start a private practice-oriented firm to showcase their expertise. In addition to this, the patrons of such firms are motivated by passion. They intend to create a niche for themselves in the services industry, particularly in the legal services area. Therefore, they focus primarily on one or more areas of law. They don’t seek to provide expertise for all the fields of law. Their marketing strategy is to promote the firm’s name as specialists in a specific area of law like immigration laws or family law. This strategy is a winning formula when it comes to the services sector.