find the latest legal job
Corporate Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Highly-respected, innovative and entrepreneurial Not-for-Profit · Competency based Board
View details
Chief Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Dynamic, high growth organisation · ASX listed market leader
View details
In-house Projects Lawyer | Renewables / Solar | 2-5 Years PQE
Category: Generalists - In House | Location: All Australia
· Help design the future · NASDAQ Listed
View details
Insurance Lawyer (3-5 PAE)
Category: Insurance and Superannuation Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Dynamic organisation ·
View details
Legal Counsel
Category: Corporate and Commercial Law | Location: North Sydney NSW 2060
· 18 month fixed term contract · 3-5 years PQE with TMT exposure
View details
Bakers brand proves tough to beat

Bakers brand proves tough to beat

Baker & McKenzie has retained the number one spot in a list of the world’s best law firm brands, but Norton Rose Fulbright and DLA Piper are closing in.

Acritas released its fifth annual Global Elite Law Firm Brand Index today (30 September). The Index looks at which firms are most successfully adapting to the changing market and winning client loyalty and favourability as a result.

Bakers has topped the list for the fifth year in a row, with a clear 39-point lead over its nearest competitor. The firm’s unmatched global footprint and its strength in multi-jurisdictional deals and litigation are driving its brand awareness and favourability levels among in-house counsel, according to Acritas.

In second place is Clifford Chance, which has safeguarded its position as the strongest Magic Circle brand.

But the most notable change since last year’s Index has been the rise of Norton Rose Fulbright and DLA Piper to third and fourth place, respectively.

NRF has achieved the greatest rise of any firm since it entered the Index in 15th place in 2010.

Acritas has claimed that NRF has benefited from expanded reach since its widely-publicised mergers, including the recent tie-up with Fulbright & Jaworski.

DLA Piper has also reaped the rewards of merging with a recognised brand in the US. This coupled with the firm’s reputation in cross-border litigation, notably in the technology sector, have moved the firm’s ranking up by six places since 2011.

Herbert Smith Freehills (11th) and King & Wood Mallesons (14th) have also improved their rankings in the wake of their respective mergers.

Brand domination

Acritas research has found that the top 20 control a disproportionate share of total global brand equity: 34 per cent of awareness, 28 per cent of favourability, 56 per cent of consideration for multi-jurisdictional deals and 57 per cent of consideration for multi-jurisdictional litigation.

Lisa Hart Shepherd, the CEO of Acritas, said successful brands engender confidence and higher levels of client satisfaction and loyalty, which lead to greater market share and profits.

“The firms gaining brand strength most rapidly are those which consistently invest in understanding the market and who aren’t afraid to take new approaches,” she said, adding that firms that choose to ignore this route in favour of short-term profits do so “at their peril”.

The research also highlighted the power of market differentiation in industry sectors, with NRF leading in energy, utilities and mining, while Bakers was ahead of other firms in technology, media and telecommunications.

The majority of firms, however, are not differentiated and share an almost identical brand profile.

Acritas’ Global Elite Brand Index 2014 is compiled using data from 1185 interviews with individuals with senior responsibility for buying legal services in $1 billion+ revenue organisations around the world.

Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

Bakers brand proves tough to beat
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
LCA president Fiona McLeod SC
Aug 17 2017
Where social fault lines meet the justice gap in Aus
After just returning from a tour of the Northern Territory, LCA president Fiona McLeod SC speaks wit...
Marriage equality flag
Aug 17 2017
ALHR backs High Court challenge to marriage equality postal vote
Australian Lawyers for Human Rights (ALHR) has voiced its support for a constitutional challenge to ...
Give advice
Aug 17 2017
A-G issues advice on judiciary’s public presence
Commonwealth Attorney-General George Brandis QC has offered his advice on the public presence of jud...
APPOINTMENTS
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
opinion
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
Help
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...