Wilfredo Murillo: “In Peru, we believe that the legal areas are a fundamental part of this new economic stage”

As we explained in our previous article, legal services in Peru are in an expanding market. It is common that, in times of crisis, legal services in the areas of Labour and Tax are activated in the business environment. However, Peru has also seen an increase in recent times in the areas of Litigation and Arbitration, as well as Restructuring, given the current context of social upheaval.

Wilfredo Murillo, partner at Gericó Associates, has contributed to an article in El Peruano, in which he analyses the current situation of legal services in the country. “It is estimated that in 2022 the turnover of law firms registered with the National Superintendency of Customs and Tax Administration (Sunat) will total 1.7 billion soles,” Murillo says.

In his opinion, “the projected increase would remain in double digits (10%), mainly due to the growing regulation in various industries and the necessary economic reactivation, in which the activity of the legal sector will be more necessary to make investment plans viable and to resolve disputes arising from the health and social situation”.

The author of this article asks: What is the outlook for this area? Gericó Associates’ partner explains that it is still a market that has a lot of potential for development, with various providers automating their services and preventing the client from using online platforms for certain recurring procedures to deal with queries.

“We can observe in the market offers for downloading model contracts for house rental, staff employment contracts, purchase and sale contracts, which include an online review from a lawyer. In addition, we see offers to develop claims on consumer issues,” he says.

New products

Regarding the possibility of implementing new trend-setting products in other countries, Murillo assures that one factor that would encourage the diversification of the service offer and the arrival of other trend-setting legal services is to address the technological infrastructure gap around regulatory and justice administration entities.

“An additional aspect is to strengthen the technology-related skills of lawyers and to improve the trust factor of society for the legal profession and legal services,” he stresses.

If you want to read the full interview in El Peruano, click here.