Dentons is a multinational law firm based in the United States.
62-522: Dentons was founded in March 2013 by the merger of SNR Denton , Fraser Milner Casgrain and Salans . Following its merger with Chinese law firm Dacheng in November 2015, Dentons became the largest law firm in the world by number of lawyers and has the most offices of any law firm in the world. As of April 2023, Dentons operated in 80+ countries and had 160+ offices. The firm has no headquarters, although
124-766: A basis in a national ethos , being ultimate without a specific nationhood, and that this lack of an ethos appears in their ways of operating as they enter into contracts with countries that have low human rights or environmental standards . In the world economy facilitated by multinational corporations, capital will increasingly be able to play workers, communities, and nations off against one another as they demand tax, regulation and wage concessions while threatening to move. In other words, increased mobility of multinational corporations benefits capital while workers and communities lose. Some negative outcomes generated by multinational corporations include increased inequality , unemployment , and wage stagnation . Raymond Vernon presents
186-722: A business accelerator focused on new technologies., in May 2015. Dentons also announced in November 2016 that it would become the first global law firm with a footprint in Central America by combining with Muñoz Global, adding offices in Panama, Nicaragua and Costa Rica operating as Dentons Muñoz was created as the Costa Rican and Central American chapter of Dentons. In April 2016, Dentons launched in Singapore by combining with
248-508: A corporation invests in a country in which it is not domiciled, it is called foreign direct investment (FDI). Countries may place restrictions on direct investment; for example, China has historically required partnerships with local firms or special approval for certain types of investments by foreigners, although some of these restrictions were eased in 2019. Similarly, the United States Committee on Foreign Investment in
310-429: A free market system where there is little government interference. As a result, international wealth is maximized with free exchange of goods and services. To many economic liberals, multinational corporations are the vanguard of the liberal order. They are the embodiment par excellence of the liberal ideal of an interdependent world economy. They have taken the integration of national economies beyond trade and money to
372-609: A law firm that became Wilde Sapte. In 1788, Denton Hall Burgin was established by Sam Denton. In 1906, Edward Sonnenschein and partners opened a law firm in Chicago that eventually became Sonnenschein Nath Rosenthal. In 2000, the City of London -based law firms Denton Hall and Wilde Sapte merged to form Denton Wilde Sapte. In 2009, 100 lawyers (including 40 partners) joined Sonnenschein from Thacher Proffitt & Wood , doubling
434-490: A million troops to help, and by February 1991, Iraqi forces were expelled from Kuwait. Due to the oil boycott from Kuwait and Iran, oil prices rose and quickly recovered. Saudi Arabia once again led OPEC, and thanks to assistance in defending Kuwait, new relations emerged between the USA and OPEC. Operation "Desert Storm" brought mutual dependence among the main oil producers. OPEC continued to influence global oil prices but recognized
496-431: Is considered an important aspect of an MNC to distinguish it from international portfolio investment organizations , such as some international mutual funds that invest in corporations abroad solely to diversify financial risks. Black's Law Dictionary suggests that a company or group should be considered a multi-national corporation "if it derives 25% or more of its revenue from out-of-home-country operations". Most of
558-410: Is often handled through international arbitration . The actions of multinational corporations are strongly supported by economic liberalism and free market system in a globalized international society. According to the economic realist view, individuals act in rational ways to maximize their self-interest and therefore, when individuals act rationally, markets are created and they function best in
620-865: Is usually a large corporation incorporated in one country that produces or sells goods or services in various countries. Two common characteristics shared by MNCs are their large size and centrally controlled worldwide activities. MNCs may gain from their global presence in a variety of ways. First of all, MNCs can benefit from the economy of scale by spreading R&D expenditures and advertising costs over their global sales, pooling global purchasing power over suppliers, and utilizing their technological and managerial experience globally with minimal additional costs. Furthermore, MNCs can use their global presence to take advantage of underpriced labor services available in certain developing countries and gain access to special R&D capabilities residing in advanced foreign countries. The problem of moral and legal constraints upon
682-848: The Dutch East India Company (VOC) founded in 1602. In addition to carrying on trade between Great Britain and its colonies, the British East India Company became a quasi-government in its own right, with local government officials and its own army in India. Other examples include the Swedish Africa Company founded in 1649 and the Hudson's Bay Company founded in 1670. These early corporations engaged in international trade and exploration and set up trading posts. The Dutch government took over
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#1732794625924744-653: The combination, Dentons surpassed Baker & McKenzie and DLA Piper , the world's previous top law firms by headcount, by at least 2,500 lawyers. In April 2015, Dentons US agreed to a merger with Atlanta -based law firm McKenna Long & Aldridge which was completed in June of that year. The firm also opened new offices in Hungary, Luxembourg and South Africa during 2015 and announced combinations with firms in Australia, Colombia, and Mexico. It also launched Nextlaw Labs,
806-670: The 19th century, such as the Rio Tinto company founded in 1873, which started with the purchase of sulfur and copper mines from the Spanish government. Rio Tinto, now based in London and Melbourne , Australia, has made many acquisitions and expanded globally to mine aluminum , iron ore , copper , uranium , and diamonds . European mines in South Africa began opening in the late 19th century, producing gold and other minerals for
868-602: The Canada-based Fraser Milner Casgrain announced a three-way merger, forming a new law firm structured as a Swiss Verein and named Dentons. The partners of the three firms ratified the merger on 28 November 2012 and the new firm was planned to begin operations in early 2013. In January 2013, SNR Denton entered into an association with the Kuwaiti law firm Jamal Ahmed Al-Shehab. The merger between SNR Denton, Fraser Milner Casgrain and Salans
930-551: The English language. Senior officials, although mostly still Swedish, all learned English and all major internal documents were in English, the lingua franca of multinational corporations. After the war, the number of businesses having at least one foreign country operation rose drastically from a few thousand to 78,411 in 2007. Meanwhile, 74% of parent companies are located in economically advanced countries. Developing and former communist countries such as China, India, and Brazil are
992-890: The Global CEO, Broer acts as a special advisor to the Dentons Global Board, guides the Firmwide leadership, and develops and drives the strategy forward. In 2022 Dentons combined with Zaanouni Law Firm & Associates in Tunisia and LuatViet in Vietnam. In October 2022, the Firm announced a combination with Indian law firm Link Legal. Also in 2022, Dentons hired Aragon St-Charles as the firm's first ever Global ESG Officer. In March 2023, Dentons announced its intention to combine with Philippines-based PJS Law. In February 2024,
1054-488: The Global Chairman of Dentons, which was a position he held since the inception of the firm. In December 2023, Elliott announced his intention to stand down as Global CEO in November 2024. On 11 November 2012, SNR Denton, Salans and the Canada-based Fraser Milner Casgrain announced a three-way merger, forming a new law firm structured as a Swiss Verein and named Dentons. The partners of the three firms ratified
1116-575: The International Energy Agency (IEA), enabling states to coordinate policy, gather data, and monitor global oil reserves. In the 1970s, OPEC gradually nationalized the Seven Sisters. The Kingdom of Saudi Arabia, as the only largest world oil producer, could leverage this. However, Saudi Arabia opted for the correct approach and maintained consistent oil prices throughout the 1970s. In 1979, the "second oil shock" came from
1178-574: The Netherlands has become a popular choice, as its company laws have fewer requirements for meetings, compensation, and audit committees, and Great Britain had advantages due to laws on withholding dividends and a double-taxation treaty with the United States. Corporations can legally engage in tax avoidance through their choice of jurisdiction but must be careful to avoid illegal tax evasion . Corporations that are broadly active across
1240-558: The OLI framework. The other theoretical dimension of the role of multinational corporations concerns the relationship between the globalization of economic engagement and the culture of national and local responses. This has a history of self-conscious cultural management going back at least to the 60s. For example: Ernest Dichter, architect, of Exxon's international campaign, writing in the Harvard Business Review in 1963,
1302-464: The Third World colonies. That changed dramatically after 1945 as investors turned to industrialized countries and invested in manufacturing (especially high-tech electronics, chemicals, drugs, and vehicles) as well as trade. Sweden's leading manufacturing concern was SKF , a leading maker of bearings for machinery. In order to expand its international business, it decided in 1966 it needed to use
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#17327946259241364-636: The U.S. applies its corporate taxation "extraterritorially", which has motivated tax inversions to change the home state. By 2019, most OECD nations, with the notable exception of the U.S., had moved to territorial tax in which only revenue inside the border was taxed; however, these nations typically scrutinize foreign income with controlled foreign corporation (CFC) rules to avoid base erosion and profit shifting . In practice, even under an extraterritorial system, taxes may be deferred until remittance, with possible repatriation tax holidays , and subject to foreign tax credits . Countries generally cannot tax
1426-541: The United States sanctions against Iran ; European companies faced with the possibility of losing access to the U.S. market by trading with Iran. International investment agreements also facilitate direct investment between two countries, such as the North American Free Trade Agreement and most favored nation status. Raymond Vernon reported in 1977 that of the largest multinationals focused on manufacturing, 250 were headquartered in
1488-506: The United States scrutinizes foreign investments. In addition, corporations may be prohibited from various business transactions by international sanctions or domestic laws. For example, Chinese domestic corporations or citizens have limitations on their ability to make foreign investments outside China, in part to reduce capital outflow . Countries can impose extraterritorial sanctions on foreign corporations even for doing business with other foreign corporations, which occurred in 2019 with
1550-614: The United States as the largest consumer and guarantor of the existing oil security order. Since the Iraq War, OPEC has had only a minor influence on oil prices, but it has expanded to 11 members, accounting for about 40 percent of total global oil production, although this is a decline from nearly 50 percent in 1974. Oil has practically become a common commodity, leading to much more volatile prices. Most OPEC members are wealthy, and most remain dependent on oil revenues, which has serious consequences, such as when OPEC members were pressured by
1612-461: The United States from 2010. The USA became the leading oil producer, creating tension with OPEC. In 2014, Saudi Arabia increased production to push new American producers out of the market, leading to lower prices. OPEC then reduced production in 2016 to raise prices, further worsening relations with the United States. By 2012, only 7% of the world's known oil reserves were in countries that allowed private international companies free rein; 65% were in
1674-629: The United States, 115 in Western Europe, 70 in Japan, and 20 in the rest of the world. The multinationals in banking numbered 20 headquartered in the United States, 13 in Europe, nine in Japan and three in Canada. Today multinationals can select from a variety of jurisdictions for various subsidiaries, but the ultimate parent company can select a single legal domicile ; The Economist suggests that
1736-766: The VOC in 1799, and during the 19th century, other governments increasingly took over private companies, most notably in British India. During the process of decolonization , the European colonial charter companies were disbanded, with the final colonial corporation, the Mozambique Company , dissolving in 1972. Mining of gold, silver, copper, and oil was a major activity early on and remains so today. International mining companies became prominent in Britain in
1798-507: The West to the post-colonial South and invest either in foreign expenditures or ostentatious economic development projects. After 1974, most of the money from OPEC members ceased as payments for goods and services or investments in Western industry. In February 1974, the first Washington Energy Conference was convened. The most significant contribution of this conference was the establishment of
1860-469: The behavior of multinational corporations, given that they are effectively "stateless" actors, is one of several urgent global socioeconomic problems that has emerged during the late twentieth century. Potentially, the best concept for analyzing society's governance limitations over modern corporations is the concept of "stateless corporations". Coined at least as early as 1991 in Business Week ,
1922-742: The collapse of the Shah's regime in Iran. Iran became a regional power due to oil money and American weapons. The Shah eventually abdicated and fled the country. This prompted a strike by thousands of Iranian oil workers, significantly reducing oil production in Iran. Saudi Arabia tried to cope with the crisis by increasing production, but oil prices still soared, leading to the "second oil shock." Saudi Arabia significantly reduced oil production, losing most of its revenues. In 1986, Riyadh changed course, and oil production in Saudi Arabia sharply increased, flooding
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1984-435: The combination with PJS Law was officially launched. In May 2023, Dentons launched its combination with Indian law firm Link Legal, making it the first global law firm to combine with a law firm in India. In August 2023, Dentons modified its relationship with Dacheng which now operates as Beijing Dacheng Law Offices (大成) — a separate law firm under a "preferred firm" relationship with Dentons. SNR Denton SNR Denton
2046-654: The companies. This occurred in 1960. Prior to the 1973 oil crisis , the Seven Sisters controlled around 85 percent of the world's petroleum reserves . In the 1970s, most countries with large reserves nationalized their reserves that had been owned by major oil companies. Since then, industry dominance has shifted to the OPEC cartel and state-owned oil and gas companies, such as Saudi Aramco , Gazprom (Russia), China National Petroleum Corporation , National Iranian Oil Company , PDVSA (Venezuela), Petrobras (Brazil), and Petronas (Malaysia). A unilateral increase in oil prices
2108-510: The conception was theoretically clarified in 1993: that an empirical strategy for defining a stateless corporation is with analytical tools at the intersection between demographic analysis and transportation research. This intersection is known as logistics management , and it describes the importance of rapidly increasing global mobility of resources. In a long history of analysis of multinational corporations, we are some quarter-century into an era of stateless corporations—corporations that meet
2170-643: The creation of a "world customer". The idea of a global corporate village entailed the management and reconstitution of parochial attachments to one's nation. It involved not a denial of the naturalness of national attachments, but an internationalization of the way a nation defines itself. "Multinational enterprise" (MNE) is the term used by international economist and similarly defined with the multinational corporation (MNC) as an enterprise that controls and manages production establishments, known as plants located in at least two countries. The multinational enterprise (MNE) will engage in foreign direct investment (FDI) as
2232-487: The current largest and most influential companies are publicly traded multinational corporations, including Forbes Global 2000 companies. The history of multinational corporations began with the history of colonialism . The first multi-national corporations were founded to set up colonial "factories" or port cities. The two main examples were the British East India Company founded in 1600 and
2294-885: The firm formed a strategic alliance with opposition research firm Definers Public Affairs , dubbed 3D Global Affairs. As of April 12 of 2018, Dentons announced partnerships in Kenya, Mauritius, Caribbean, Indonesia and Malaysia. On June 2, 2021, Denton announced the launch of Dentons Global Advisors, composed of founding member Albright Stonebridge Group along with a team of seasoned advisory industry leaders, including Ed Reilly, who serves as chief executive officer (CEO). On July 27, 2021, Interel, an award-winning pan-European public affairs consultancy, joined Dentons Global Advisors, now known as Dentons Global Advisors Interel. In June 2024, Dentons Global Advisors rebranded to DGA Group. Also in 2021, Dentons appointed its first Global Inclusion & Diversity Officer, Kate Broer. Reporting directly to
2356-481: The firm makes direct investments in host country plants for equity ownership and managerial control to avoid some transaction costs . Sanjaya Lall in 1974 proposed a spectrum of scholarly analysis of multinational corporations, from the political right to the left. He put the business school how-to-do-it writers at the extreme right, followed by the liberal laissez-faire economists, and the neoliberals (they remain right of center but do allow for occasional mistakes of
2418-626: The firm's number of lawyers in New York. In May 2010, Denton Wilde Sapte and Sonnenschein Nath & Rosenthal announced their intention to merge. On 30 September 2010, the merger between Denton Wilde Sapte and Sonnenschein Nath & Rosenthal was formally completed, establishing SNR Denton. In January 2011, SNR Denton opened in Hong Kong following the assimilation of the Hong Kong office of Hammonds . On 11 November 2012, SNR Denton, Salans and
2480-556: The firm's senior leadership are primarily based in London and Washington, D.C. Dentons is structured as a Swiss Verein called Dentons Group, which does not itself provide legal services. The verein encapsulates multiple co-operating legal entities, namely Dentons Canada LLP, Dentons Europe LLP, Dentons UK and Middle East LLP, and Dentons US LLP, amongst others. Elliott Portnoy is the Global Chief Executive Officer. In March 2023, Joseph Andrew stepped down as
2542-416: The hands of state-owned companies that operated in one country and sold oil to multinationals such as BP, Shell, ExxonMobil and Chevron. Down through the 1930s, about 80% of the international investments by multinational corporations were concentrated in the primary sector, especially mining (especially oil) and agriculture (rubber, tobacco, sugar, palm oil , coffee, cocoa, and tropical fruits). Most went to
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2604-576: The international oil market. Iran was unable to sell any of its oil. In August 1953, the then-prime minister was overthrown by a pro-American dictatorship led by the Shah, and in October 1954, the Iranian industry was denationalized. Worldwide oil consumption increased rapidly between 1949 and 1970, a period known as the 'golden age of oil'. This increase in consumption was caused not only by the growth of production by multinational oil companies but also by
2666-415: The internationalization of production. For the first time in history, production, marketing, and investment are being organized on a global scale rather than in terms of isolated national economies. International business is also a specialist field of academic research. Economic theories of the multinational corporation include internalization theory and the eclectic paradigm . The latter is also known as
2728-460: The largest recipients. However, 70% of foreign direct investment went into developed countries in the form of stocks and cash flows. The rise in the number of multinational companies could be due to a stable political environment that encourages cooperation, advances in technology that enable management of faraway regions, and favorable organizational development that encourages business expansion into other countries. A multinational corporation (MNC)
2790-474: The laws and regulations of both their domicile and the additional jurisdictions where they are engaged in business. In some cases, the jurisdiction can help to avoid burdensome laws, but regulatory statutes often target the "enterprise" with statutory language around "control". As of 1992 , the United States and most OECD countries have the donot legal authority to tax a domiciled parent corporation on its worldwide revenue, including subsidiaries. As of 2019 ,
2852-494: The market with cheap oil. This caused a worldwide drop in oil prices, hence the "third oil shock" or "counter-shock." However, this shock represented something much bigger—the end of OPEC's dominance and its control over oil prices. Iraqi President Saddam Hussein decided to attack Kuwait. The invasion sparked a crisis in the Middle East, prompting Saudi Arabia to request assistance from the United States. The United States sent
2914-543: The marketplace such as externalities). Moving to the left side of the line are nationalists, who prioritize national interests over corporate profits, then the "dependencia" school in Latin America that focuses on the evils of imperialism, and on the far left the Marxists. The range is so broad that scholarly consensus is hard to discern. Anti-corporate advocates criticize multinational corporations for being without
2976-626: The merger on 28 November 2012, and it was completed on 28 March 2013. Dentons opened an office in Houston , Texas in September 2013. On January 26, 2015, Dentons announced that it was combining with a Chinese firm, Dacheng ( Chinese : 大成 ) which was completed in November 2015. The new firm was called 大成 (Dacheng) in Chinese and "Dentons" in other languages, with a logo featuring the Chinese and English names combined as "大成 Dentons." Following
3038-806: The oldest and one of the most prestigious law firms in Singapore, Rodyk & Davidson . In December 2016, Dentons launched in Australia and Papua New Guinea by combining with leading Australian law firm Gadens . The Sydney, Perth and Port Moresby offices of Gadens joined Dentons, while the Adelaide and Brisbane offices became "associate offices" and the Melbourne office remained independent. The Gadens combination resulted in Dentons having approximately 7,600 lawyers serving 57 countries. In 2017, Dentons merged with Scottish firm Maclay Murray & Spens . In 2017
3100-560: The price collapse in 1998–1999. The United States still maintains close relations with Saudi Arabia. In 2003, U.S. forces invaded Iraq with the aim of removing the dictatorship and gaining access to Iraqi oil reserves, giving the United States greater strategic importance from 2000 to 2008. During this period, there was a constant shortage of oil, but its consumption continued to rise, maintaining high prices and leading to concerns about "peak oil". From 2005 to 2012, there were advances in oil and gas extraction, leading to increased production in
3162-611: The realities of the needs of source materials on a worldwide basis and to produce and customize products for individual countries. One of the first multinational business organizations, the East India Company , was established in 1601. After the East India Company came the Dutch East India Company , founded on March 20, 1603, which would become the largest company in the world for nearly 200 years. The main characteristics of multinational companies are: When
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#17327946259243224-501: The strong influence of the United States on the global oil market. In 1959, companies lowered the price of oil due to a surplus in the market. This reduction dealt a significant blow to the finances of producers. Saudi oil minister Abdullah Tariki and Venezuela’s Juan Perez Alfonso entered into a secret agreement (the Mahdi Pact), promising that if the price of oil was lowered a second time, they would take collective action against
3286-496: The world market, jobs for locals, and business and profits for companies. Cecil Rhodes (1853–1902) was one of the few businessmen in the era who became Prime Minister (of South Africa 1890–1896). His mining enterprises included the British South Africa Company and De Beers . The latter company practically controlled the global diamond market from its base in southern Africa. In 1945, the United States
3348-573: The world without a concentration in one area have been called stateless or "transnational" (although "transnational corporation" is also used synonymously with "multinational corporation" ), but as of 1992, a corporation must be legally domiciled in a particular country and engage in other countries through foreign direct investment and the creation of foreign subsidiaries. Geographic diversification can be measured across various domains, including ownership and control, workforce, sales, and regulation and taxation. Multinational corporations may be subject to
3410-503: The worldwide revenue of a foreign subsidiary, and taxation is complicated by transfer pricing arrangements with parent corporations. For small corporations, registering a foreign subsidiary can be expensive and complex, involving fees, signatures, and forms; a professional employer organization (PEO) is sometimes advertised as a cheaper and simpler alternative, but not all jurisdictions have laws accepting these types of arrangements. Disputes between corporations in different nations
3472-665: Was a multinational law firm co-headquartered in London and Washington, D.C. The firm operated in 60 locations across 43 countries and had around 1,250 lawyers. It was one of the 25-largest law firms in the world , with revenues of around $ 750 million in 2011/12. SNR Denton was formed through the merger of the UK-based Denton Wilde Sapte LLP and the US-based Sonnenschein Nath & Rosenthal LLP in September 2010. The firm
3534-491: Was completed on 28 March 2013. SNR Denton's main practice areas included: Multinational corporation A multi-national corporation ( MNC ; also called a multi-national enterprise ( MNE ), trans-national enterprise ( TNE ), trans-national corporation ( TNC ), international corporation , or state less corporation , ) is a corporate organization that owns and controls the production of goods or services in at least one country other than its home country. Control
3596-438: Was enabled by multinational corporations known as the 'Seven Sisters'. The "Seven Sisters" was a common term for the seven multinational companies that dominated the global petroleum industry from the mid-1940s to the mid-1970s. The nationalization of the Iranian oil industry in 1951 by Iranian Prime Minister Mohammad Mosaddegh and the subsequent boycott of Iranian oil by all companies had dramatic consequences for Iran and
3658-448: Was fully aware that the means to overcoming cultural resistance depended on an "understanding" of the countries in which a corporation operated. He observed that companies with "foresight to capitalize on international opportunities" must recognize that " cultural anthropology will be an important tool for competitive marketing". However, the projected outcome of this was not the assimilation of international firms into national cultures, but
3720-546: Was labeled as "the largest nonviolent transfer of wealth in human history." The OPEC sought immediate discussions regarding participation in national oil industries. Companies were not inclined to object as the price hike benefited both them and OPEC members. In 1980, the Seven Sisters were entirely displaced and replaced by national oil companies (NOCs). The rise in oil prices burdened developing countries with balance of payments deficits, leading to an energy crisis. OPEC members had to abandon their plan of redistributing wealth from
3782-611: Was structured as a Swiss Verein and had a single management board but the partnerships of the predecessor firms were not financially integrated. In March 2013, SNR Denton merged with the international law firm Salans and the Canada-based law firm Fraser Milner Casgrain , forming Dentons . The American Lawyer estimated SNR Denton to be the 29th largest law firm in the world by number of lawyers and 43rd by annual revenue in 2012, its last full year of operation. In 1785, Thomas Wilde (1758-1821) and Samuel Archer Hussey founded
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#17327946259243844-513: Was the world's largest oil producer. However, their reserves were declining due to high demand. Therefore, the United States turned to foreign oil sources, which had a significant impact on the recovery of the West after World War II. Most of the world's oil was found in Latin America and the Middle East, particularly in the Arab states of the Persian Gulf. This increase in non-American production
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