Legal Market Overview
The Danish legal market is dominated by major domestic firms including Accura Advokatpartnerselskab, Bech-Bruun, Bruun & Hjejle, Gorrissen Federspiel, Horten, Kromann Reumert, Lundgrens, Moalem Weitemeyer and Plesner. International firms like DLA Piper Denmark and Bird & Bird Advokatpartnerselskab are also extremely active in the market, while Poul Schmith, which mainly acts for the public sector and the Danish government, continues to strengthen its practice by increasingly focusing its efforts on the private sector.
Similar to other regions across the globe, the Danish legal market experienced a temporary slow-down due to Covid-19 but after the initial shock, there was a significant uptick and demand for M&A work from a broad range of industries. Overall, the Danish economy remains extremely stable and attractive to international shareholders.
Due to low-interest rates and macroeconomic factors such as aggressive monetary policies by the ECP and the US, the Danish market has remained extremely liquid, with stocks fluctuating slightly due to Covid-19. In the banking and finance sector, Danish domestic banks hold 87.52% of the industry’s total assets, enjoying a strong position in this area. Elsewhere, firms have seen major dispute resolution cases such as the continued investigation into the Danske Bank money laundering case. There has also been a high level of activity within the real estate and construction sector, which has also seen increased interest from international contractors as the Danish market remains extremely stable, with price levels staying low.
In 2020, the #MeToo wave hit Denmark and continues to play a huge role in the market, with employment lawyers being instructed on investigations and claims. Denmark also maintains a strong reputation for its exportation and manufacturing of wind turbines, and is focusing on increasing other renewable energy projects.