Big Law in Venezuela: From Globalization to Revolution
This chapter focuses on Venezuelan corporate lawyers during the period 1994~2014, a time in which the country experienced abrupt changes in its political orientation and economic policies. In 1989, as a response to a crisis partially credited by a failure of the model of import substitutions and national industrialization. Venezuela opened its economy to the world. allowing foreign investment. freeing export-import trade and eliminating currency exchange controls. In particular in 1994, following a policy of economic openness touted as "oil opening'' (apertura petrolera) Venezuela allowed the entry of foreign investors in the oil business- an acti-rity that had been reserved to the state since 1974--and conversely, Venezuela acquired important refineries and expanded its business presence into foreign countries. Even though the oil opening policy was short lived. it had a profound impact on the transformation of Venezuelan business law firms and the legal profession at large. Starting in the early 2000s, Venezuela's political social and economic landscape changed drastically, which affected all segments of society, including the business sector, and the lawyers that serve it.
New York, NY
legal profession, "big Law", Latin America, Spain, legal education, corporate sector
Commercial Law | Law
Manuel A. Gómez, Big Law in Venezuela: From Globalization to Revolution, in BIG LAW IN LATIN AMERICA AND SPAIN: GLOBALIZATION AND ADJUSTMENTS IN THE PROVISION OF HIGH-END LEGAL SERVICES 287, 319 (Manuel A. Gómez, Rogelio Pérez Perdomo et al. eds., Palgrave-MacMillan, 2018) (ebook).