What makes an Elite Awarded Law Firm & Lawyer
On our The Lawyers Global ranking system, we evaluate approximately 20,000 global law firms, which are selected from several different and credible sources’ listings.
Published on Monday, 6th August 2018 – 11:35:05 am by The Lawyers Global
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Article update note:
This article was updated on December 9, 2020. To read the updated article click here.
On our The Lawyers Global ranking system, we evaluate approximately 20,000 global law firms, which are selected from several different and credible sources’ listings (Bloomberg, BTI, Legal 500, and others). All data collected is then processed through our proprietary algorithms that, in its inner logic, process data for different metrics and delivers the semi-final rankings list.
The process
Although some of the metrics are common to other law firms and lawyers’ rankings, we take into account data that isn’t generally considered by other ranking processes. Also, we discard other metrics that we believe in producing less reliable results – as an example, and we do not take into consideration peer reviews. In contrast, client reviews are considered; however, having a small weight in the overall processed data for the final results.
The metrics
We believe that some of the metrics used by other ranking systems have a subjective and less reliable overall result. In an analogy, one might have 500k followers on a social network and not converting in business value or, another example, a firm might have 2000 followers, and most of them are friends and family of their partners or associates. Some of those metrics or data somewhat weaken the rankings and their true value and reliability.
The main metrics we consider, not disclosing others that are part of our proprietary algorithm logic, are the following:
- Total Revenue by year;
- Average Revenue – the last ten years figures (when data is made available);
- Total Revenue by Quarter;
- Total Global announced Deals by volume and count
- Total Regional announced Deals by volume and count;
- Total Profit by partner;
- Total Profit by non-equity partner;
- Total Revenue per Lawyer;
- Total Practice Areas – Globally and by Country;
- Brand value ranking.
- Brand value evaluated;
- Total Countries and jurisdictions (where the firm operates);
- Total Offices globally;
- Total Offices by Country (where the firm operates);
- Total Partners;
- Total non–equity Partners;
- Total Lawyers count;
- Total Counsels count;
- Total Paralegal count;
- Total Associates;
- Total headcount;
- Social responsibility actions;
- Gender gap reduction rating;
- Best firm to Work rankings;
- Recognized Professional Merit and Performance (for Lawyers rankings only);
These metrics, when viewed or analyzed individually, have their own readings’ value.
In some cases, the higher the values or rankings may end up having a negative effect, depending on which prism they are evaluated. For instance, a high value of Total Partners may be read by candidates as a barrier for their future career progress when compared with the firm’s Total headcount, or not. This is just an example, although each metric, as said before, has its readings, and some may even be entirely subjective.
Summary
In summary, what makes a The Lawyers Global Elite Winner or Outstanding Law Firm/Lawyer, is greater than the sum of all the parts (metrics) that produce the semi-final ranking.
The final ranking is then compiled from the top listed and ranked firms/lawyers by their Country and Global ranking positions.
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2018 Global Awards or the 2018 Country Awards
Disclaimer
The Lawyers Global Law Firms and Lawyers Awards list is based on the criteria and methodology summarized above.
All firm names, when referenced, and logos are trademarks™ or registered® trademarks of their respective holders. The use of them does not imply any affiliation with or endorsement by them.
The Lawyers Global has no direct affiliation or hold shares with any of the law firms or lawyers evaluated or awarded and does not contain any content which might present conflicts of interest.
