Fewer law firms are worth paying top dollar for, according to new research released by BTI which found that a 16 per cent decline in the number of firms providing a service which was worth paying premium rates for.  The research concluded that one major factor contributing to the change was the decline of high-rate bet-the-company work. Clients are also using a smaller law firm roster than prior years. This combination of factors results in more intense competition for the highest octane work, according to the newly-released BTI Brand Elite 2015: Client Perceptions of the Best-Branded Law Firms. The company  talked to 648 corporate counsel at Fortune 1000 and large organisations to find out the law firms with the biggest imprint on corporate counsel in one of the key brand differentiators: premium-worthy rates.

Premium Worthy

With Skadden Arps Meagher Slate & Flom topping the Brand elite list, the research named law firms joining the Premium Worthy Best of Best ranks this year as Alston & Bird, Sidley Austin and Sullivan & Cromwell.  Baker Botts, Debevoise & Plimpton, DLA Piper, K&L Gates, Norton Rose Fulbright, Paul Hastings, Ropes & Gray, and Vinson & Elkins join the ranks of the Premium Worthy Leaders this year. 'Premium law firms stand apart from peers in legal abilities and enjoy a well-established track record of delivering superior client service,' commented Michael Rynowecer, President of The BTI Consulting Group. 'These firms deliver a combination of skill, client focus, and outsized value, even while charging top market rates.'