Uría Menendez remains top Spanish brand, while EY and PwC's profiles are growing – meanwhile, VdA is now the leading brand in Portugal

The total value of M&A deals in Spain and Portugal doubled in 2014 – a further increase is expected this year, though imminent elections are causing uncertainty.

Portugal attracting lion’s share of Iberian investment, but Wanda deals show Spain is catching the eye, with law firms finalising their strategies in order to capitalise on trend.

Meanwhile, real estate for the logistics sector is particularly in demand as consumer appetite for online shopping increases.

While the new surge in M&A activity in Iberia has come as a welcome boost for corporate lawyers in Spain and Portugal, it has also presented firms with a host of new challenges relating to the motivation and retention of corporate lawyers.

Cases relating to sale of bank shares as well as clauses in loan agreements on the rise in Spain, while BES fallout and swap agreement-related disputes increasing in Portugal.

With a strong appetite from investors for non-performing loans in Spain – and desire on the part of banks to sell – clients need legal advice on restructuring and acquisitions

Spanish mid-market private equity firms also seeking to complete deals, as well as funds using convertible bonds, warrants and 'unitranche' loans

The market for telecommunications, media and technology-related (TMT) legal advice in Iberia is being shaken up by smaller, innovative niche law firms that are successfully challenging the larger, more traditional firms for market share.

Law firms' inability to innovate is due to their "short-termism" – partners have little incentive to build-up the long-term value of their firm as a business

A new study reveals majority of lawyers in the trade bloc believe regulatory changes, new service lines and a ‘more positive outlook' will lead to law firms expanding.

The combined headcount of Portugal's leading law firms increased by five per cent in the last year, according to data collated by Iberian Lawyer.

Good lawyers should be able to help their clients solve problems and provide practical advice that can be easily implemented, says Hiscox's Mónica Calonje Conde

Urbaser has a number of preferred firms it works with on a regular basis.

The other opportunity for law firms is in litigation, he says.

Most businesses in Spain and Portugal have recently dropped at least one of their external legal advisers due to poor service or because they found a cheaper option

Investors in Spain are targeting a broad range of sectors including consumer, finance, energy, retail and real estate

Law firms planning to recruit real estate lawyers as the value and volume of property deals increases with hotels and shopping centres driving growth.

US law firms are benefiting from Iberian infrastructure and capital markets investment in both North America and Latin America...

A significant number of in-house legal departments in Iberia are paying more for legal services than they were a year ago, but if law firms want to earn even higher fees, they must improve their understanding of their clients' business