Vial Abogados law firm in Santiago, Chile. Engaged in active law
practice since 1986, he has been very active in telecommunications,
mergers and acquisitions, estate planning and arbitration.
Avenida El Bosque Norte, 0177
Oficina 602, Piso 6
Las Condes, Santiago, Chile
56-2-713 9000 Phone
56-2-713 9099 Fax
jolivares@grupovial.cl
www.grupovial.cl
Latin American legal systems were very
restrictive to foreign investment, from
and towards private entities.
The average Latin American law
student had little or no interest in
studying or working abroad, since the
chances of achieving an international
law practice were few, and the majority
of them were tied to public law,
governmental banks or entities, or to
international diplomatic organizations.
The average private entrepreneur
from the northern hemisphere was
used to associating our continent with
red tape, bureaucratic sluggishness,
discretional powers of the authority,
restrictive licenses required for foreign
trade, discriminatory access to tax rates
or foreign exchange rates, etc.
Private Investment
many other nations on other continents
foster and protect foreign private
investment, and to encourage cost
efficient foreign trade. The countries
have adapted their economic systems
consequentially.
Speaking as a layman in economics,
these private equity investments in Latin
America have been positive for our
countries and hopefully will remain such
in the future.
As for Latin American lawyers,
this trend has strongly increased the
importance of international law practice,
and the number of potential clients
for Latin American law firms has also
experienced substantial growth.
Master of Laws studies in American
universities, or equivalent programs
in relevant European countries, have
become a standard for those Latin
American law graduates wishing to
develop a fruitful career in private law.
Practicing for some time at a foreign law
firm has become an important goal.
of the legal profession in our countries
that is obviously welcome.
legal Profession
process which would help both the host
countries and the incoming foreign
investors. The desks and computer
screens of any businessperson in the
northern hemisphere are constantly
flooded with much economic information
about our countries. Figures, statistics,
graphics and reports on GBP, bond
yields, interest rates, inflation rates,
stock markets, exchange rates and
many other economic facts, abound.
Universities, thinks tanks and investment
bankers, strive to keep that information
updated. Thus, lawyers should focus
on the Rule of Law, its present
accomplishment and the improvement
thereof, as our most relevant contribution
to strengthen the benefits and to reduce
the imperfect effects of foreign private
investment in our countries.
Since their early days in university,
lawyers learn that the law aims to
provide certainty and safety for human
and the Practice of Law