Corporate rebranding projects can be tricky. If you want a laugh, have a look at this short article listing 15 rebranding failures, including some shocking ones such as MasterCard and Gap:
So why are we rebranding?
We’ve come a long way since we first started in 2013. We now do more business in 2 weeks than we did in the whole of our first year. (Which sounds more impressive than it actually is – we started slow!)
We’ve also got a lot clearer about where we’re most needed – which is bridging the gap between ‘tax’ and ‘legal’, and helping multinational groups to maintain structures which give them genuine substance for tax and transfer pricing purposes. Obviously, those structures also need work from a legal and practical point of view, which is where our background as commercial lawyers comes in.
Within that space, we’ve helped multinational groups with a total revenue of more than US$ 130 billion. Most of those groups are not headquartered in the UK – they’re in places like the US, Switzerland, Dubai and Australia.
Recent developments such as the US Tax Court decision in Coca-Cola have highlighted what everyone already knew, but many were turning a blind eye to: adopting TP policies but forgetting to implement them was never a good idea, nor were ‘fake’ agreements which made no commercial sense, nor intercompany transactions which had not even been communicated to legal entity directors, let alone approved by them.
This has all meant that our focus has had to change, and our core offering is now providing outsourced maintenance of intercompany agreements and related structures, as opposed to ad hoc advice. (See our flyer here.)
Anyone who has followed us from the beginning will know that our business also serves the property market, including property joint ventures, funds and SPVs. As part of our rebranding, we’ve decided to separate that out into its own website, so that it can run its own course.
How did we come to choose the new logo for our ‘main’ business serving multinational groups?
The dots around the ‘L’ in ‘LCN’ symbolise the different stakeholders for each multinational group which is the heart and central focus of business. Although we are admittedly very smart when it comes to legal matters, we’re not the source of all knowledge. The legal architecture of a multinational group needs to reconcile potentially conflicting needs – including regulatory, tax, customs, asset protection, sales and so on. A cross-functional, collaborative approach is essential for making this work.
You can see our new website in all its glory here.
Finally, we would like to say thank you to everyone who has supported us on our way, and to you in particular, if you’ve bothered to read this far. As you may have gathered, we’re passionate about providing the best possible support for our communities, and to expanding our awareness of whether we need to improve our knowledge. Now, more than ever, we are extremely grateful for your support, and for holding us to account as we continue to improve.
Get practical advice & insights on the Legal Implementation of Transfer Pricing for Multinational Groups