Nishith Desai – The Great Legal Minds Show
What does it take to build a law firm that lasts?
In Season 2 of The Great Legal Mind Show, Nishith Desai, founder of Nishith Desai Associates (NDA), looks back on 53 years in legal practice. He explains why he set out to build a firm focused on the future rather than the present.
Key takeaways
- Look ahead, not just at today’s cases. Desai noticed that most law firms were stuck in the present or the past. His point of difference was preparing clients for what is coming next.
- Every new development creates a new legal issue. New technology, business models and geopolitical shifts each bring fresh strategic, legal, tax or ethical questions.
- Values are the best succession plan. Formal structures only work if a shared value system sits underneath them.
- Talent can come from anywhere. Not only from the legal field.
From employment law to international tax
Desai began practising in 1973 with no contacts in the profession. He started in employment law, moved into a chartered accountancy firm, and became drawn to tax. After completing an LLM in international business law in 1977, he found that few people had studied the international tax side of cross-border transactions. He built his reputation by writing and lecturing, and much of his early work was published globally.
Building a firm around the future
In 1990, after four years of studying how great law firms survived and what values they followed, Desai set up his own practice. He asked himself why the world needed one more law firm, and the answer was to differentiate through foresight. Today the firm has futurists on its team, including a PhD in AI who has worked with them for around 20 years.
India’s funds industry and the Mauritius route
When India opened up in 1991, Desai worked on the double taxation problem facing foreign investors. That led him to the Mauritius treaty, and he helped set up some of the first funds there. He also helped develop regulations for venture capital funds in India.
Why values beat succession plans
Asked about the legacy he wants to leave, Desai points to values rather than the firm’s reputation or model. He cites Japanese companies that have lasted hundreds of years without formal succession plans as proof.
If not a lawyer?
His answer: a philosopher. In his words, “Law is a philosophy that is codified.”
Who should watch this episode
- Lawyers and law firm partners thinking about strategy and growth
- Law students and young lawyers planning their careers
- Founders and business leaders interested in legacy and succession
- Anyone curious about the future of the legal profession
FAQs
Who is Nishith Desai?
Nishith Desai is the founder of Nishith Desai Associates, a law firm he set up in 1990. He began practising in 1973.
What does “future-ready law firm” mean?
It means building a practice that anticipates new technologies, business models and regulations so clients are prepared before issues arise.
What does Nishith Desai say about succession planning?
He says a strong value system is the most sustainable form of succession planning, and that formal plans fail without it.
Where can I watch the full episode?
Watch it above, or on The Great Legal Mind Show YouTube channel.
