In business law, some firms simply execute transactions, while others are involved in the decisions that precede them. David Devesa set out to build his firm in that second space.

When he founded the firm almost two decades ago, he was clear that the role of a lawyer could not be limited to interpreting rules or implementing legal structures. In his view, the real value of legal advice lies in understanding the business logic, the assets and the people behind each key decision.

Over time, that idea has become the firm’s guiding principle. Today, Devesa advises business owners, wealthy families and investment funds on matters where the law is only one part of the equation. The other — and often more decisive — element is understanding the economic, human and strategic context in which those decisions are made.

Law as a strategic reading of the company

David Devesa avoids explaining his firm’s positioning based on specific legal specialties. Although the firm works in areas such as M&A, corporate taxation, capital markets, and complex litigation, its identity is not built around a particular practice, but rather on a particular way of approaching legal advice.

“Our differentiator is not in an isolated specialty, but in the ability to understand the human, economic, and strategic context behind each legal decision,” he states.

From his perspective, business law cannot be understood as a purely technical discipline. Every corporate transaction, every corporate dispute, or every asset management decision responds to a broader logic in which business interests, family dynamics, and long-term objectives converge.

That’s why, he explains, many conversations with clients begin before a specific legal question arises. Often, they involve ongoing business decisions: the sale of a company, the entry of an investor, the structuring of assets, or the management of a conflict within a family business.

“When a company considers going public, when a family office wants to structure a REIT or a fund, or when a complex lawsuit arises, the law ceases to be a mere formality. It becomes a strategic tool.”

Madrid as a turning point

The opening of the Madrid office in 2021 marked a turning point in the firm’s evolution. However, Devesa insists that the decision was not based on a conventional strategy of territorial expansion.

“Madrid was not a bet on quantitative growth, but on a qualitative and natural leap.”

At that time, the firm was already involved in transactions increasingly linked to investment funds, complex asset structures, and capital markets. Having a presence in the capital allowed them to be closer to the financial decision-making centers and the players involved in these types of transactions.

Four years later, the impact of that decision is reflected both in the firm’s activity and its positioning. The firm has expanded its presence throughout the country and has begun advising on transactions with an international dimension.

“Without Madrid, it would be impossible to understand why we operate throughout Spain today and why we have begun to provide international consulting services.”

But the change hasn’t been solely geographical. Their presence in the capital has also had a reputational impact within the legal market. As Devesa explains, the firm has begun to participate in more complex decisions and transactions.

“Today we are perceived as a trusted firm for important decisions, not just for technical executions.”

Between the family business and investment capital

One of the defining characteristics of the firm is the territorial focus that structures its activity: Madrid and the Valencian Community. Two distinct business environments that, combined, have shaped the firm’s profile.

Madrid concentrates a significant portion of the country’s financial and institutional power. The Valencian Community, for its part, maintains a business fabric deeply linked to industry, family businesses, and entrepreneurship. “This axis connects us with two complementary realities: the financial strength of Madrid and the entrepreneurial and industrial energy of the Valencian Community.”

The combination of both environments has also shaped the client profile that the firm works with: entrepreneurs, founders, wealthy families and investment funds that make decisions with a long-term vision.

In this context, the firm regularly participates in M&A transactions in the Spanish middle market, provides tax advice to companies and high-net-worth individuals, handles capital markets transactions, and manages complex corporate litigation. However, Devesa insists that the real differentiator is not technical specialization. “The differentiator is the ability to see the big picture.”

Law, heritage and culture

Within this broad vision of legal counsel, the firm’s relationship with the art world has become one of the most distinctive features of its identity. Participation in fairs such as Art Madrid and the creation of a corporate collection reflect a connection that, according to Devesa, is part of the firm’s founding DNA.

“Creativity, curiosity, and daring to push beyond the limits of appearances are at the heart of Devesa.”

Beyond its cultural component, art is also becoming an increasingly relevant legal sphere for business families and high-net-worth individuals. The taxation of artworks, their international mobility, estate planning for collections, and the creation of foundation structures are issues that require increasingly specialized advice. “Art is no longer just emotion or investment; it is heritage, legacy, and identity.”

Social Impact, Technology and Leadership

The firm’s identity is also reflected in its approach to social impact. Joining Ashoka, the world’s largest social entrepreneurship network, reflects its commitment to directing corporate social responsibility towards transformative initiatives. “It’s not about alleviating consequences, but about addressing root causes,” they state.

From their perspective, social entrepreneurship provides relevant lessons to the business world: leading with purpose, innovating in contexts of scarcity, and building sustainable projects.

At the same time, the legal sector is undergoing a technology-driven transformation. Artificial intelligence is already part of the daily work in many law firms, especially in tasks such as analysis and document review.

“AI already makes our work much easier, especially with repetitive tasks,” Devesa acknowledges. However, he believes its impact on more complex legal advice is still evolving. “There’s still a way to go before it’s truly reliable in higher-value legal services.”

Building a signature with identity

After nearly two decades building the firm, Devesa continues to define its role within the sector in a particular way.

“I have always considered myself more of a businessman in the legal sector than a lawyer.”

That perspective has shaped the way he runs the firm: as an organization with purpose, shared values, and an internal culture based on camaraderie, excellence, and professional ethics.

Over time, his own definition of success has also changed. “Success is being able to share your time with people who add value to your life and whom you appreciate.”

Looking ahead, their goal is to consolidate Devesa as a leading national firm with international reach for those who make important decisions in the business and asset management fields.

But if I could go back and give advice to the David Devesa who founded the firm, the reflection would be clear.

“Define early what kind of firm you don’t want to be and act accordingly.”

Because, in his opinion, business strategy isn’t always about growing faster than everyone else. In the long run, he explains, true competitive advantage is usually found elsewhere: in the ability to maintain a clear identity.

“Sometimes strategy also consists of knowing when to say no. Firms, like people, are also defined by what they choose not to be.”