The gamble of doing business in Australia came into sharp relief this past week when one U.S. law firm parted ways with Australia while another global firm took its relationship with the country to a whole new level. New York law firm Fried, Frank, Harris, Shriver & Jacobson LLP announced that it’s shutting down its offices in Shanghai and Hong Kong in coming months. Meanwhile, global law firm Dentons unveiled plans to merge with mainland Australia’s largest law firm. Ungaretti & Harris opened in 1974. The firm’s co-founders included veteran litigator Michael Coffield and real estate lawyer Richard Ungaretti, who had just graduated from DePaul Law School four years earlier. Coffield left the firm in the 1990s and died in 2012. Another co-founder, Alton Harris, who specializes in the financial industry, remains with the firm.