Legal Market Overview
Denmark is largely considered a safe choice for foreign investment due to its stable political and economic climate; GDP grew by 1.2% in 2018 and steady growth is predicted for the coming years. Nevertheless, the country’s relatively small size means it operates as an open economy and is susceptible to macro-economic conditions.
Pharmaceuticals is a domineering sector in the Danish market with Greater Copenhagen making up part of the region dubbed ‘The Medicon Valley’. Other key sectors include the maritime, renewable energy and agricultural industries. Similarly, Denmark, and particularly Copenhagen, is an attractive location for start-ups and SMEs with tech companies including Tradeshift and Zendesk being notable success stories. International companies with Danish origins are also active in the region; Carlsberg, Lego and Pandora are key examples.
The country’s legal market also remains highly competitive. The four firms which traditionally dominate are Bech-Bruun, Kromann Reumert, Gorrissen Federspiel and Plesner. However, this dynamic is no longer as clear-cut with Accura Advokatpartnerselskab, Bruun & Hjejle, Kammeradvokaten / Poul Schmith, Horten and Lundgrens all strengthening their presence in the region. DLA Piper Denmark has also bolstered its Copenhagen office through its merger with Delacour. Copenhagen remains the primary legal centre, although Aarhus is a popular second choice.