One major development this year for Hungary was the election of Viktor Orban as prime minister. One of the most important tasks for him was to boost Hungrary's lagging economy. The devastating effect of the financial crisis meant that there was pressure...
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One major development this year for Hungary was the election of Viktor Orban as prime minister. One of the most important tasks for him was to boost Hungrary's lagging economy. The devastating effect of the financial crisis meant that there was pressure upon client budgets. One IP lawyer says: "The economic climate has made clients more focused on price."
Putting that aside, many international firms have seen Hungary as a developing economy where they have decided to open new offices. At the moment, Bird & Bird and Baker & McKenzie are both international firms that are trying to find their feet in a jurisdiction where clients are used to going to the local players rather than the big names. "The time hasn't come yet where our clients have been poached from the big boys," says one IP lawyer.
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