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Hastings International and Comparative Law Review

Abstract

The development of a legal system under globalization has impacted the legal practice of cross-border transactions. Businesses are confronted with several legal systems in foreign jurisdictions, as well as, foreign languages. On the other hand, the role of the legal system of each country becomes relatively diminished in the area of cross border transactions. The legal risk may materialize as uncertain knowledge and recognition of foreign legal systems and international law. From this perspective, it is more important to understand the roles of lawyers who support solving legal issues in transnational business. Cross-border transactions involve several different jurisdictions where the lawyers need to consider both global and local aspects. One should also consider the two major legal systems: common law and civil law. It is essential for Japanese lawyers is to create ways to form a bridge between different jurisdictions, especially with common law countries. With regard to legal education and training, one of essential methods for young lawyers in Japan is to take an LL.M., or other degree, at law schools in common law countries, such as the United States.

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