Schoenherr expects 2m-euro revenues

Schoenherr, one of Austria”s largest legal firms, has begun exporting know-how from the Romanian legal services market to less developed markets in the South-East Europe region. Schoenherr has set an average revenue target per lawyer in line with conditions on the local market. Market data show that average annual revenues are in the region of 100,000 euros. Given that Schoenherr has 20 lawyers this should amount to 2 million euros. “Our most important office outside Austria is Romania. We came here with a client, Brau Union Romania, in 1996, which had just started its local acquisition campaign. Austrian investments have been growing ever since,” said Markus Piuk, the co-ordinator of Schoenherr”s Bucharest office. He also supervises the firm”s business in Bulgaria, Croatia and Serbia. “The Romanian business law market is competitive and dynamic. The market is slightly atomised, but it is mature,” said Piuk. “We are already exporting know-how through our lawyers here, who provide assistance to Schoenherr”s offices in Sofia, Belgrade and Ljubljana.” The Austrian company”s strategy for development will rely on organic growth, says Piuk, with there being no plans for acquisitions. Schoenherr is a medium-sized player on the business law market in Romania, estimated at approximately 25-30 million euros. ZF