English law and London courts continue to lead the world in commercial dispute resolution despite challenges from elsewhere, the Law Society has revealed in a new report.
English law governs around 40% of all international business and financial transactions and dominates international arbitration. It is chosen for the majority of cases in London and ranks second in major world arbitration centres such as Singapore, Stockholm and Hong Kong.
UK legal services exports continue to rise, reaching £9 billion in 2024, contributing to the economy and reflecting growing international demand in the expertise of English and Welsh lawyers.
'The UK is a leading international legal centre recognised and respected the world over because of our laws and top legal professionals,' Society of England and Wales president Richard Atkinson said. 'However, the government needs to invest more in the country’s court infrastructure and people to ensure we maintain our global standing. The Law Society is working hard to help our legal professionals access markets worldwide, collaborating closely with relevant authorities and international bodies.
'Our report provides great insight into the widespread use of English law, London’s world-leading commercial dispute courts and our strong legal exports that power the country’s global influence, fuel the UK economy and create more jobs.'
The Society found that the number of litigants appearing before the London Commercial Court continued to increase, with six out of 10 coming from abroad, representing a record of 93 nationalities. The London court remains ahead of the Civil and Commercial Division of the Dubai International Financial Centre and the New York Commercial Division.
More than half (54%) of contested trials before the court between October 2023 and September 2024 were completed in four working days.
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