Akin Gump Strauss Hauer & Feld (Akin Gump) is proud of the diverse backgrounds of its attorneys and what it calls an unyielding commitment to excellence. The global firm has recently celebrated the opening of its new office in Beijing.
The latest addition to Akin Gump opened its doors in January 2007, and is one of the firm's 15 global offices, handling both in-bound and out-bound investment. This comes as a response to further Chinese economic liberalization and signifi cant foreign investment coming into the country.
Over the past decades, there has been dramatic change in Mainland China's economy. In 2006, foreign investment in the country totaled US$69.5bn, of which the US was the fifth largest source. Behind the scenes, however, there are reports that foreign investment is sometimes subjected to strict regulation by the ruling Communist Party. Therefore, navigating through the intricacies of Chinese law and doing outbound foreign transactions or investment can be quite daunting.
Akin Gump is able to help remove the confusion, with its senior advisors and bilingual lawyers, who have extensive experience in counselling on corporate, cross-border M&A, transaction and government matters. Some of these experts have previously helped draft new Chinese laws and regulations, including the recent Employment Contract Law and Franchising Regulations, placing them in a good position to liaise with Chinese partners and obtain approval from authorities.
Akin Gump values diversity and will help ensure that a client does not feel alienated. In 2005, its global team of 900 lawyers was acclaimed in the Minority Law Journal as having one of the highest percentages of ethnic minority partners.
They are admitted to practice in a range of areas, including acquisitions, private equity, intellectual property (IP), customs, employment law, international
trade and public law.
Understanding China
As many business people have discovered, the Chinese legal system differs greatly from that in the West. Many of Akin Gump's lawyers have graduated from law schools in the US or China, and practised law in the two countries, enabling them to help both
foreign and Chinese clients.
Advising on merger and acquisition deal structuring, craft and managing due diligence investigation is all in a day's work for Akin Gump. Its legal staff can also help draft acquisition documents, conduct pre-closing due diligence investigation and advise on post acquisition issues.
IP protection and royalties
In the past, foreign investment, and mergers and acquisitions have often brought the assessment and disposal of IP rights. However, since China became a signatory of the WIPO Copyright Treaty in June 2007, greater power has been given to law fi rms to stop IP theft.
Akin Gump can also advise on the 'dos' and 'don'ts' of making IP royalty payments outside of China, importing and exporting technology, and encrypting technology application in software and database products.
"We advise clients to properly structure and document the relevant business related to royalty payment. We help ensure that the underlying contracts of royalty payments are approved by the Chinese Ministry of Commerce before the contract becomes effective, or register the contract after it becomes effective," said Janet Tang, a partner at Akin Gump.
Regulatory issues
Identifying legislative and regulatory issues can be critical for the success of a transaction. Akin Gump's Beijing presence, together with its antitrust and regulated industries practices, helps prepare foreign companies for the filing and prosecution of regulatory approvals.
Customs law
Whether a client just wants to comply with Chinese Customs regulations, handle a smuggling case investigation or challenge a decision made by the authorities, Akin Gump can offer a simple explanation. This includes customs classifications for import and export goods, evaluation of dutiable goods and locating the origin of goods.
Antitrust law
Even though antitrust law is quite new to China, the legal team at Akin Gump is able to advise foreign clients on issues that date back several years. This includes preparation of a pre-merger antitrust filing or any potential issues that could be caused by a cross-border merger or acquisition.
Public policy
It has become increasingly important for national and multinational businesses to be informed about new laws and regulations in advance. Akin Gump recognises this and goes one step further to let clients know the significance of any changes and how to adapt.
"Clients are learning that they need to consider policy and political issues along with financial and legal issues when they are first contemplating major transactions. That is why Akin Gump is increasingly at the table," said partner in charge Eliot Cutler.
Unlike other in law firms, comprehensive business strategies are not necessary at Akin Gump, for clients wanting to resolve disputes, explore new opportunities or manage corporate communication.
Akin Gump has an alliance with Publicis Communications, a world leader in crisis communication, which offers global experience in communication, law and public policy.
Akin Gump has been named as one of the largest and most diverse public law and policy practices in the world.
American Lawyer ranked Akin Gump's litigation group as one of the top Public Policy firms that consider legal structure equally as important as political structure. "Akin Gump perennially is regarded by most observers as both one of the top public policy firms and one of the top international law firms. Yet, among the two or three leading lobbying firms in Washington, we are the only one that is a leading international law firm," said Cutler. ALB
| Eliot R Cutler is the partner in charge of the Beijing office and has over 35 years' experience as a lawyer, government official and political advisor in the US. He was a founding partner of Cutler & Stanfield LLP, which merged with Akin Gump in November 2000. Through his leadership, he has represented clients in airport, highway and other major project matters.
Janet Jie Tang is a partner at Akin Gump, with 14 years' experience in advising US and European clients on business transactions in China. Her main areas of practice are corporate, mergers, acquisitions, foreign direct investment and commercial law. Prior to joining, she was a partner at both DLA Piper and Coudert Brothers LLP. She was also the
assistant to the secretary-general of the Chinese Society of International Law and an assistant lecturer in public international law at the Foreign Affairs College in Beijing.
|
|
Q&A WITH JANET TANG AND ELIOT CUTLER
Q. What attracted you to work for Akin Gump?
A. Janet: From the inbound investment perspective, Akin Gump is brand new to China and needs the experience that my team and I have to counsel US clients on doing business in China. It is also brand new to Asia, so it will take time for this market to become familiar with Akin Gump in terms of its strength, namely its public policy practice.
Q. Not many foreign law firms in China provide a public policy service. Why do you have it?
A. Eliot: Cross border investment - whether it is from PE firms, sovereign wealth funds or corporations with M&A plans - will become increasingly challenged by rules and regulations that have political and public policy roots. Clients engaged in those transactions need integrated legal and policy advice, so we provide it.
Q. China is expected to do large-scale outbound investment in the next decade. How will this affect foreign business?
A. Eliot: The process has started and will continue to grow - it has to. Our studies suggest that Chinese companies with lots of cash and steady cash fl ows will be among the earliest active outbound investors: banks, insurance companies and telecoms are examples of this. Makers of consumer goods like clothing and accessories accessing
capital will consolidate, eliminating weaker players and then turn to the West to buy brand names that used to be their clients.
Q. How will this change the relationship between foreign and Chinese companies?
A. Eliot: The difference now is that the Chinese economy will be much more integrated with the rest of the world. That will require some accommodation on the part of both China and the rest of the world.
|