The strategy focuses on identifying the most significant field of corporate law for Saudi lawyers through three main approaches. First, conducting market research involves surveying corporate law firms to pinpoint their primary areas of practice. For example, by analyzing trends in Saudi court cases, lawyers can discern emerging legal needs. Second, analyzing regulatory changes means listing recent amendments in corporate laws to understand their impact. This could involve attending seminars or interviewing compliance experts to grasp the nuances of regulatory updates. Lastly, focusing on economic developments includes mapping sectors driving Saudi GDP growth and identifying their legal needs, such as those arising from technological advancements or foreign investments.
The strategies
⛳️ Strategy 1: Conduct market research
- Survey existing corporate law firms to identify their main areas of practice
- Review industry reports related to corporate law practices in Saudi Arabia
- Analyse trends in corporate legal cases in Saudi courts
- Interview legal professionals about emerging legal needs in corporate sectors
- Examine economic sectors with the highest legal consultancy demands
- Conduct focus groups with corporate clients to learn their legal service priorities
- Assess the impact of Vision 2030 on corporate legal practices
- Identify the most consulted legal topics in professional forums and discussions
- Read publications and articles by leading corporate lawyers in Saudi Arabia
- Collaborate with legal associations to gather insight on industry priorities
⛳️ Strategy 2: Analyse regulatory changes
- List recent changes in Saudi corporate laws and regulations
- Identify regulatory bodies influencing corporate law practices
- Review the influence of international law on Saudi corporate practices
- Study government documents on corporate law amendments annually
- Attend legal seminars focusing on regulatory changes and implications
- Interview regulatory compliance experts for their opinions
- Track and analyse enforcement trends by relevant authorities
- Summarise key cases reflecting changes in regulatory practices
- Evaluate the ripple effect of regulatory changes on business activities
- Compile case studies highlighting successful compliance strategy improvements
⛳️ Strategy 3: Focus on economic developments
- Map key economic sectors driving Saudi Arabia's GDP growth
- Evaluate legal service demands in priority economic sectors
- Follow reports on foreign investments and joint ventures trends
- Assess the role of megaprojects in shaping corporate law needs
- Monitor international commercial partnerships and their legal requirements
- Research technological advancements and their legal implications
- Analyse the influence of renewable energy investments on corporate law
- Study the legal needs of the growing SME sector
- Draft legal policy briefs based on economic forecast data
- Engage with chambers of commerce to discuss economic shifts
Bringing accountability to your strategy
It's one thing to have a plan, it's another to stick to it. We hope that the examples above will help you get started with your own strategy, but we also know that it's easy to get lost in the day-to-day effort.
That's why we built Tability: to help you track your progress, keep your team aligned, and make sure you're always moving in the right direction.
Give it a try and see how it can help you bring accountability to your strategy.
