As more US companies seek to expand into the European market, there are a number of legal considerations that should be taken into account. One of the most common problems for US companies in international expansion is the drafting of appropriate legal documents. However, a skilled lawyer can help a company in this regard.
A strategic approach is crucial to successful international expansion. A company must identify gaps and selectively address them. Moreover, an effective balance of leadership is essential to succeed in this market. Many companies assume that they can copy-and-paste their US strategies when expanding in Europe. Nonetheless, a thorough analysis of different market entry strategies is necessary.
For instance, a US company should focus its efforts on its core business and local markets before expanding abroad. While a European market can be huge for a startup, it can be difficult for an established company to succeed without the help of a local partner. Hence, startups should consider Europe as a viable expansion option.
Despite the uncertainty of Brexit, most US companies are continuing to expand in Europe. The country’s market size is the largest overseas software market and represents 30% of global revenue. As such, companies that succeed in Europe are well-positioned for continued global expansion.