Gregory Abrams Davidson lawyer Jonathan Abrams is advising a growing number of UK businesses looking to expand to the US – and vice-versa. Tony McDonough reports

Liverpool law firm Gregory Abrams Davidson (GAD) is utilising the expertise and experience of one of its lawyers to grow its niche Transatlantic practice.

Jonathan Abrams’ qualification as both a US attorney and a UK solicitor, have opened up new opportunities through which GAD is advising a growing number of UK businesses looking to expand to the US. And he is also working with American entrepreneurs looking at British investments.

After graduating with a law degree from Leeds University years ago Jonathan, who has dual UK/US citizenship, moved to the US to tour with a band but, instead of following a musical career, he ended up passing the New York bar exam and working as a US attorney for six years.

During his time there he worked as a New York ‘suit’, specialising in mergers and acquisitions, both in private practice, most recently for Norton Rose Fulbright in New York, and in-house at Goldman Sachs.

After returning to the UK in 2009 he joined GAD. Having also qualified as a solicitor in the UK he initially worked on domestic law. But as word of his US qualification grew Jonathan began advising British businesses looking to get a foothold in the US.

This gave GAD a powerful new string to its bow. Today that side of the business has grown significantly, and continues to do so. The firm established a full-time US-UK unit in 2017.

Led by Jonathan’s expertise, it now advises companies across a range of industries and of different sizes.

While most are British companies looking to establish operations in the US there is also a growing number of American firms who are utilising Jonathan’s expertise to help guide their investments here in the UK.

This mainly business-to-business work covers areas such as mergers and acquisitions, investments, sales, finance and an array of commercial agreements including licences, joint ventures and advising on US corporate structures and disputes.

Jonathan told LBN: “We are quite sector agnostic. If there is one popular area it is probably IT-focused, software or e-commerce etc.

“We do sports work as well, particularly soccer, as well as service-based businesses where the UK operations can still acts as a central HQ, whilst the US business is being nurtured.

“There is a range but it is most often more a need for a US-led service than a need for specific expertise in a particular area. Other professional firms may come to us and say ‘we can’t advise on this, we need a US-qualified lawyer’.

“In addition to the work we do, our service is often supplemented by a list of experts on our contact list in the US who cover areas such as tax, immigration, regulatory matters, HR, finance, insurance and litigation support. We complement our expertise with others’ to offer a full US service from the UK.

“Post-Brexit we started seeing a lot more companies at least looking to the US and what a growing trend I have observed more recently is US companies looking to acquire UK companies and use them as an outsourced partner.”

Jonathan is based out of GAD’s London office but will also operate from both Liverpool and New York when need be. He says around a quarter to a third of his clients are based in Liverpool city region.

Key to successfully getting a foothold in the US is planning, capital and timing. He explained: “If you are well prepared and geared up financially then you have a greater chance to crack it. 

“However, it may take longer than you think. It’s a long-term commitment, which should be a part of the overall business strategy.

“Think of it as a market just like the UK but many many times bigger. If you have a product or service that appeals to people in the UK then there is a high chance it will appeal in the US to a similar demographic, but on a larger scale. Timing is also vital, so take advantage when the time is right.”

GAD’s Transatlantic business has grown to the point where it now accounts for one-third of all new business enquiries. However, with the re-election of Donald Trump as President, what will this mean for US-UK trade and business relations?

Trump has wasted little time in making his mark and is already using tariffs as a way of flexing the US’s economic power on the world stage. Canada, Mexico and China are all in his sights, with possible EU tariffs also mooted.

Jonathan believes the Republican President has a more favourable view of the UK due to his Scottish roots. He hopes this will lead to the opening up of increased trade opportunities between the two countries.

“I am going to be bold and say that I can’t see tariffs being placed on UK-US dealings. Britain poses little or no threat to US security or commerce, in the same way as the tariff-threatened countries do and is viewed as more of a partner, but commercially and culturally.

“The tariffs are a way for Trump and the US to flex their muscles and force counterparties to reach a deal on, for example, border security, as far as Mexico and Canada are concerned, which has already paid off.

“Trump and his advisors realise that one of the USA’s superpowers is its ability to “consume”, with many countries relying on the US Dollar.

“China is seen as a threat not only in business terms but also to the US’s status as the dominant global superpower and he is looking to drive a bargain to strengthen the USA’s position generally.

“It is difficult to know what will happen but I think Britain now needs America more than ever, especially in the face of a low-growth economic outlook. The longer term fallout from Brexit, which we are just starting to see, is that we have weaker links with our immediate neighbours in the EU.

“So we really need the US as a key trading partner. Problem that we have is that the only thing Trump is focused on is ‘making America great again. They have a very inward looking agenda.

“There is a lot going on in the UK. I am a member of British-American Business and I go to lots of events. There are lots of initiatives and a lot goes on behind the scenes. I think the US looks to Britain as an important strategic partner.

“Whether or not there will be a trade deal I don’t know. But from the work that I see there is already so much cooperation anyway. 

“There are lots of US companies, big and small, who are looking at the UK as a centre of skills and expertise and speaking the same language. The favourable exchange rate makes for cost-effective trading too.

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“I think Americans they do look on us favourably, as an ally. Unless there is a huge disincentive then they are still going to trade closely with the UK.

“I know of one client, an SME, that is picking up big US clients and contracts because they want a cost-effective, specialist service provider and it is a win-win.

“There are many things that work in favour of UK businesses and I am here to help and advise them to navigate the US commercial and legal landscape.”