Acritas is delighted to release its sixth annual US Law Firm Brand Index 2017. Topping the Index, for the first time, is Jones Day which moves into first place from second in 2016 — a testament to the firm’s consistent delivery of quality and client service, which is described by clients in our research, in addition to its sustained domestic and global expansion efforts and further improvement of a well-established strong reputation in the market.
Combined, these factors have seen the firm steadily closing the gap on the Index lead over recent years. Although substantial movement across the Index is typical, reflecting the dynamic and competitive nature of the US legal services market, Skadden’s presence at the top of the table has been consistent until this year, making the 2017 Index particularly noteworthy.
Download a copy of Acritas’ US Law Firm Brand Index 2017 here.
Other significant climbers in the top 20 brands are Ropes & Gray, moving up 20 places; and Latham & Watkins, which increased its ranking by 10 places. Other climbers included Baker McKenzie; Littler; Hogan Lovells and Dentons.
Six different, non-related measures go into the Index: the first five are driven by US-based clients and comprise:
- top of mind awareness;
- consideration for top-level litigation;
- consideration for top-level M&A; and
- most-used firms for high value work.
This latter metric is also asked of non-US based multinationals about high-value work in the US, forming the sixth measure in the Index.
The Brand Index, therefore, is a direct reflection of which firms are uppermost in client’s minds, which they are most attracted to, and which they are most likely to give their work to. Perception of technical expertise undoubtedly contributes to all of the measures used, to varying degrees, as quality of expertise and specialized knowledge are the two largest individual components of brand favorability.
In total, the 2017 Index is based on data from 765 objective interviews with random-sampled clients across demographic breaks which represent the US commercial legal services market.
This blog was written by Elizabeth Duffy, Vice-President of Acritas US