Legal Market Overview
Much like fellow Scandinavian countries, Denmark has a highly stable and diversified economy with income and taxation among the highest in the world. Businesses maintain close trade relations with non-EU and EU countries, especially with Sweden, the wider Nordic region and Germany. Some signs of recession in other European countries have sparked speculation of a potential similar Danish downturn, and while annual growth has slowed, unemployment levels remain historically low and the economic situation continues to be relatively robust.
Key industries in the jurisdiction include the pharmaceuticals, agriculture, gas and renewable energy industries as well as the maritime sector. Denmark is also an important hub for technology and start-ups with both Tradeshift and Zendesk being notable success stories. Alongside the presence of international players from Europe, the USA, China and Japan, significant local companies include Lego, Carlsberg and energy company Ørsted. Major domestic banks include Danske Bank, Arbejdernes Landsbak and Nykredit.
Many of the market’s major firms deliver full-service practices, with key areas of expertise encompassing banking and finance work, real estate and construction mandates, energy issues, M&A transactional advice and employment mandates; most firms also field media, telecoms, IP and IT practices to align themselves with recent market trends. Bech-Bruun, Kromann Reumert, Gorissen Federspiel and Plesner are among the biggest firms in the market, with Accura Advokatpartnerselskab, Bruun & Hjejle, DLA Piper Denmark, Horten and Lundgrens also key names to note. Due to its close ties to government institutions and its increasing activity in the private sector, Poul Schmith maintains a unique position in the jurisdiction.
Copenhagen is the main centre for most firms, but other Danish cities are also increasingly seeing a law firm presence with Clemens and Innova Advokatfirma having offices in Aarhus, while Andersen Partners is a key firm in Kolding.