Jeffrey Naqvi, managing director of Pier Advisory, a firm which concentrates particularly on cross-border strategies, told Lawyers Weekly that firms need to be careful to avoid hyperbole when entering new markets, particularly the Asian ones that have held up well in the last few years. 'It’s a relationship-based approach, and it’s all about time served and building the right relationship networks,' he said. He emphasised the importance of developing good relationships with governments and regulators and of not offending concerns that those countries may already have about foreign enterprises 'parachuting' in.

Public statements amended

Clifford Chance had to amend its public statements after Singapore regulators objected to claims it made which could have been interpreted as saying it was able to practice litigation in the country. In fact, foreign firms cannot practice litigation there, and any such litigation would have been handled by its local partner.