Despite its population numbering some 23 million, Taiwan punches above its weight in terms of the global economic market due to its leading position as a producer of hi-tech products. However, this export-driven economy has suffered recently with 2015’s GDP figures showing a growth of 0.7%, down sharply from the previous year’s 3.9%. This downturn can be partly attributed to increased competition from neighbouring East Asian countries, as well as China’s increased investment in developing its own IT industries. Therefore, new President Tsai Ing-wen’s initial soundings regarding a reduced economic dependence on mainland China are certainly a bold statement of intent and one that has not gone down well with China’s communist party leaders who still lay claim to the island.
Lee and Li remains the largest local law firm by far. Numerous other firms – including Tsar & Tsai Law Firm, Formosan Brothers Attorneys at Law and Formosa Transnational Attorneys at Law – provide considerable opposition in select areas.
Several international law firms are also present in the country, including Baker & McKenzie, which is at or near the top of the majority of the practice areas. Jones Day has a significant presence in the market and is accomplished at handling major cross-border M&A transactions, while K&L Gates is highly regarded across various practice areas.
Trade mark and patent filing and prosecution is undertaken by law firms and patent and trade mark firms, with the most significant being Saint Island Group, TIPLO Attorneys-at-Law and Top Team International Patent & Trademark Office.
Firms in the spotlight
TSAR & TSAI LAW FIRM
Tsar & Tsai Law Firm is a Taiwan-based partnership engaged in the provision of legal services relating to all aspects of international and domestic business transactions, as well as dispute resolution and litigation. The firm was founded in 1965 by Ruchin Tsar and Paul C Tsai, and has grown to over 50 attorneys admitted to practice in various jurisdictions. It is one of the largest law firms in Taiwan and its team of 120 employees includes translators, paralegals and accountants.
Formosa Transnational Attorneys at Law
Established in 1974, Formosa Transnational (FT) has endeavored to provide high-quality legal service, foster social justice and advocate the rule of law. With a spirit of specialisation, teamwork and professionalism, FT always stands along with its clients, assisting companies, entrepreneurs, agencies and organisations, multinational or domestic, to plan ahead for their business operation and development, or to resolve various and myriad problems that clients may encounter from time to time.