Top legal brands grow 45pc faster than others over last four years
The list of top US brands identified by researcher Acritas includes BakerHostetler, Dentons, Foley Hoag, Clifford Chance and K&L Gates.
Among the regional firms highlighted are Sheppard Mullin, Nixon Peabody and Katten Munchin. Baker & McKenzie is the only 'Rising Star Brand' mentioned in relation to major M&A. Acritas has analysed the brands and calculated that revenue growth is clearly associated with strong brand definition.
Reputation is not enough
Elizabeth Duffy, 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.'
Ms Duffy added: '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.' Source: PrWeb