Fisheries and aquaculture are one of our most important industries. Norway is Europe's largest fishing nation and a world leader in Atlantic salmon farming and rainbow trout. Seafood is our largest export product after oil and gas, with exports exceeding 90 per cent of production. The industry is thus a significant player in the global market, while at the same time being strictly regulated by a number of national and international framework conditions.
The fishing and aquaculture industry is largely based on utilization of natural resources and is subject to catch quotas, production licenses, regulation for distribution channels and other requirements for the environment and sustainability. In addition, the regulation of the industry has become an increasingly important political debate, where, among other things, the taxation of aquaculture is central. Furthermore, the industry has experienced a period of strong growth in recent years, and several players are gradually looking at the possibilities for consolidation or stock exchange listing.
All this requires extensive knowledge of the markets in which the industry competes, as well as legal expertise in the regulations and conditions under which it operates at all times. Wiersholm's interdisciplinary industry group for fisheries and aquaculture is composed especially with a view to the needs of clients in this industry. We offer effective project management and consulting in the relevant business law areas with a focus on our clients' value creation.
Our clients are large and medium-sized Norwegian companies in the marine industry. We assist with acquisitions and mergers, IPOs, financing, reorganization, negotiations and contracting, public relations, public regulations and framework conditions, tax law issues, as well as litigation and dispute resolution. Our attorneys also have extensive experience in patent litigation which requires particular insight into and experience of the industry.