In-house Counsel

Acritas Reveals Brand Growth is Linked to Revenue Growth in Law Firms
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

Acritas has revealed the law firms with the strongest growth patterns, based on surveys taken over the past four years.

Summary: Acritas has revealed the law firms with the strongest growth patterns, based on surveys taken over the past four years.

According to PRWeb, during the last four years, Acritas has been busy conducting over 2,500 interviews with senior legal buyers across America to track and analyze the brand strength of law firms and trends in buyer behavior. When compared to the published financial data of these firms, the “Rising Star Brands” are revealed, as well as a positive correlation between financial growth and brand growth. The “Rising Stars” are those that perform much better than their competitors. The Rising Stars range in size from regional firms such as Katten Munchin, Shepard Mullin, Nixon Peabody, and ” href=”https://www.lawcrossing.com/lawfirmprofile/706xe490fedoac1d732sf20dc8cl18f649df/Foley-Hoag/” target=”_blank”>Foley Hoag, to major global firms such as Dentons .

  
What
Where


According to the Global Legal Post, a good reputation is not enough for law firms. In the United States, it has become apparent that, if a firm wants to increase its market share, it must find a way to stand out—and a strong brand will do just that.

Prestigious law firms show impressive growth in revenue.

In 2014, Acritas interviewed 691 U.S. based general counsel. These individuals mentioned a total of 295 different law firms, which was 29% more than four years prior.

Get JD Journal in Your Mail

Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!




Acritas analyzed the 295 firms’ performance in six areas.

In 2014, Paul Weiss topped one billion dollars in revenue.



BakerHostetler was the winner, ranking as a Rising Star in three categories: favorability, awareness, and consideration for top-level litigation. Dentons was also near the top of the list, ranking as one of the fastest growing brands for favorability and awareness.

Foley & Lardner and Perkins Coie saw the most growth in high value work. For firms who represent foreign clients with their legal needs in the United States, K&L Gates and ” href=”https://www.lawcrossing.com/lawfirmprofile/d16xd90240boa0a930cs460d24alc5c40451/Clifford-Chance/” target=”_blank”>Clifford Chance saw the biggest increase in inbound usage from general counsel worldwide.

Baker & McKenzie was the only Rising Star firm for major mergers and acquisitions consideration.

In 2013, the top 100 law firms saw revenue rise.

Elizabeth Duffy, the Vice President of Acritas US, said, “No one can deny that market forces, client trends and law firm consolidation have altered the landscape of the legal market and that it is continuing to evolve. Firms can no longer rely solely on their reputation to be memorable; every firm has an obligation to keep reminding the market of their capabilities, presence and relevance if they want to achieve their maximum growth potential.”

Do you think these same firms will be at the top of the list four years from now?

View Results

Loading ... Loading ...

Although expertise was once the most important factor for clients when choosing a firm, it now appears that an appropriate level of resources is now the most important.

Duffy added that brand alignment is the most important factor for increasing revenue. She said, “What all these Rising Star Brands are doing to win out over the competition is better aligning with client demand, behavior and their evolving needs. They are also investing in raising awareness and building favorability to accelerate their firm’s progression to the top tiers of their chosen niche.”

According to the American Lawyer, Norton Rose Fulbright claimed the top spot in Acritas’ Canadian Brand Survey.

Source: PRWeb

Photo credit: rynek.polskiprawnik.pl



 

Interesting Legal Sites You May Like


BCG FEATURED JOB

Locations:

Keyword:



Search Now

General Municipal Law Attorney with land use experience

USA-CA-Oakland

Oakland office of our client seeks general municipal law attorney with experience advising public ag...

Apply Now

Senior Land Use Attorney with experience

USA-CA-San Francisco

San Francisco office of our client seeks senior land use attorney with 7+ years of experience. The c...

Apply Now

Immigration Attorney with portable business

USA-VA-McLean

McLean office is seeking an immigration attorney with $500,000+ in portable business.

Apply Now

Commercial Litigation Attorney with 4+ years of experience

USA-IL-Chicago

Chicago office of our client seeks commercial litigation attorney with 4+ years of experience. The c...

Apply Now

RELEVANT JOBS

Litigation Associate (Junior to Mid-Level) - Medical Malpractice - Garden City, NY

USA-NY-Garden City

Defense firm seeking junior to mid-level associate for Garden City office to fill Medical Malpractic...

Apply now

Experienced Insurance Defense Attorney Needed

USA-NY-Bohemia

Insurance Defense firm (with 15 attorneys in Suffolk and Mineola location), seeks attorneys with 5+ ...

Apply now

CIVIL LITIGATION ATTORNEY - Employment

USA-CA-Fresno

Lang, Richert & Patch a Fresno area AV-rated law firm located in the highly desirable Fig Garden Fin...

Apply now

ASSOCIATE ATTORNEY

USA-TX-Houston

INSURANCE DEFENSE / TRANSPORTATION LITIGATION Law firm located in North Houston seeking an associ...

Apply now

Most Popular

SEARCH IN ARCHIVE

To Top