Globalization

Law has traditionally been the province of the nation state, whose courts and police enforce legal rules. By contrast, international law has been comparatively weak, with little effective enforcement powers. But globalization is changing the contours of law and creating new global legal institutions and norms. The International Criminal Court promises to bring to justic odious public offenders based on a worldwide criminal code, while inter-governmental cooperation increasingly brings to trial some of the most notorious international criminals. Business law is globalizing fastest of all, as nations agree to standard regulations, rules and legal practices. Diplomats and jurists are creating international rules for bankruptcy, intellectual property, banking procedures and many other areas of corporate law. In response to this internationalization, and in order to serve giant, transnational companies, law firms are globalizing their practice. The biggest firms are merging across borders, creating mega practices with several thousand professionals in dozens of countries.