Recent years have seen law firms' international investment going firmly in the direction of the emerging markets, whether that be Asia, the Middle East or Africa.

It's a theme that appears to be very much backed by this week's front page story, where we unveil Linklaters' latest global expansion initiative: a planned alliance in South Africa that will, if all goes to plan, follow a similar path to its deal with Australia's Allens earlier this year.

But while UK practices are still continuing their developing markets push – albeit in Linklaters' case, limiting its upfront investment and risk by opting for the alliance route – behind the scenes, even before the Asian markets started to tumble, attention had already started shifting back to the perpetual elephant in the room: cracking the US market.

True, approaches vary hugely between firms, but in their effort they look increasingly consistent. One only needs to look at Freshfields, Ashurst and CMS to see the lengths firms go to in their bid to break into the world's largest legal market.

For the CMS network, it means that adding a national US practice to the international alliance has gone to the top of its list of strategic priorities for the coming 12 months, with CMS chairman Cornelius Brandi leading the efforts, which will also include a refreshed branding initiative across the pond.

Meanwhile, Ashurst and Norton Rose are being linked with potential US merger partners on an almost weekly basis.

Most telling, though, is Freshfields. In contrast to the majority of its magic circle rivals – particularly Clifford Chance and Allen & Overy (A&O) – its strategy in recent years has largely involved differentiating itself by leaving overseas flag posting well alone.

It's what made its talks to secure the hire of now defunct Dewey & LeBoeuf's star West Coast corporate practice, led by former Cooley partner Richard Climan, all the more staggering, as the hires would have clearly necessitated a base in Silicon Valley.

Of course, Freshfields subsequently lost out on the team to Weil Gotshal & Manges, so any plans to open there are firmly on hold for the time being. But partners suggest the US is very much on the agenda.

For now, the emphasis is on building out its corporate practice in New York and Washington, where recent years have seen the firm grow a more than credible contentious practice.

But in the longer term, those within Freshfields suggest an additional office either in the West Coast – where it counts the likes of Apple among its client base – or Houston is a distinct possibility. Moves that would take it far closer to A&O, currently mulling the same ideas, than the rest of its international strategy.

And why not? For all the talk of emerging markets, they are clearly a drop in the ocean compared with the $250bn (£159bn) US legal market.