From the Los Angeles Times:

When Liu Chuan-zhi started a personal computer business in 1984 off “Swindler’s Alley,” Beijing’s electronics black market, he could never have imagined it would one day buy IBM Corp.’s PC business.

Similarly, the firm of Clifford Chance, which handled the Lenovo-IBM deal, would have had little idea that within 20 years of becoming the first European firm to set up shop on the mainland it would be acting in 65 jurisdictions on such a significant deal for a company based in the People’s Republic of China.

The IBM-Lenovo deal is a powerful symbol of the opportunity that is developing for international law firms in China. Although much of the work handled by foreign firms still relates to inward investment, or Chinese companies listing on the Hong Kong stock exchange, the development of Chinese companies into dynamic global entities is exciting for lawyers.