{"id":6489,"date":"2022-02-16T12:23:09","date_gmt":"2022-02-16T01:23:09","guid":{"rendered":"https:\/\/insight.thomsonreuters.com.au\/legal\/?post_type=insight_resource&p=6489"},"modified":"2022-05-16T14:54:11","modified_gmt":"2022-05-16T03:54:11","slug":"trust-relationships-key-to-brand-success-global-elite-law-firm-brand-index-2022","status":"publish","type":"insight_resource","link":"https:\/\/insight.thomsonreuters.com.au\/legal\/resources\/resource\/trust-relationships-key-to-brand-success-global-elite-law-firm-brand-index-2022","title":{"rendered":"Global Elite Law Firm Brand Index 2022"},"content":{"rendered":"\n

The newly published 12th annual Global Elite Law Firm Brand Index 2022<\/em> shows how important client trust & maintaining key relationships are to brand success<\/h4>\n\n\n\n

If there is one aspect that was brought into sharp focus as the global pandemic greatly disrupted worldwide business in 2020 and 2021, it was how important a strong and clearly defined brand is when it comes to attracting clients and gaining their trust.<\/p>\n\n\n\n

And within the legal industry, that proved to be especially true. As many clients sought out their most trusted legal advisors during the crisis, strong relationships, favorability, and brand awareness continued to be viewed as critically important.<\/p>\n\n\n\n

Thomson Reuters\u2019 newly published 12th ann<\/em>ual Global Elite Law Firm Brand Index 2022<\/em> shows that those law firms that clients most strongly associate with M&A and those which were among the most favored by clients saw the most growth in this year\u2019s Index. (You can download the full report below.)<\/p>\n\n\n\n

The Global Law Firm Brand Index score for each law firm was based on four different measures related to how legal clients choose law firms for work. Two of the measures \u2014 Top-of-mind awareness and favorability<\/em> \u2014 relate directly to a client\u2019s perception of a law firm\u2019s brand, and, as our research has shown, are the first steps in determining which law firms will be selected for client work. The other two measures \u2014 consideration for multi-jurisdictional litigation<\/em> and consideration for multi-jurisdictional deals<\/em> \u2014 illustrate the importance of law firms being global in scope and able to handle a wide variety of legal matters in multiple jurisdictions.<\/p>\n\n\n\n

This Year’s Top 20<\/h2>\n\n\n\n

\u201cLooking at this year\u2019s Top 20, it is clear that brand favorability and multi-jurisdictional deals have been the most important success factors this year for global law firm brands,\u201d says Elizabeth Duffy, Senior Director of Global Client Services at Thomson Reuters. Five of the seven fastest growing law firm brands showed above-average consideration levels for multi-jurisdictional deals, Duffy notes, and it is the strength of their brand for M&A that has truly elevated their overall Brand Index position this year. Another two of the fastest growing brands this year have above-average levels of favorability, indicating a close alignment between these firms\u2019 client offerings and the drivers of legal service demand.<\/p>\n\n\n\n

\u201cIn 2021, as businesses emerged from the crisis, legal service buying patterns focus on forward-facing factors like understanding the client\u2019s business and knowledge of their sector,\u201d Duffy explains. \u201cAnd we still see clients prioritizing specialist expertise over historical relationships or reputation.\u201d<\/p>\n\n\n\n

In this year\u2019s index, Baker McKenzie continues to hold the top spot, marking its dominance for the 12th consecutive year ever since the Index was first launched. DLA Piper, which moved into second place in 2020, continued to hold that spot, even nudging slightly closer to Baker McKenzie in this year\u2019s Index.<\/p>\n\n\n\n

The first big movement among the top firms occurred as Clifford Chance became the third-strongest global brand, raising its Brand Index score 9 points and elevating itself from a fifth-place tie in the 2021 Index. Dentons, in fourth place, has been one of the biggest rising legal brands over the past decade, breaking into the top 10 in last year\u2019s Index and further increasing its Index score again this year. Only one new firm joined the Global Elite Law Firm top 20 this year, Gibson Dunn.<\/p>\n\n\n\n

Access your free copy of the Thomson Reuters Institute’s
<\/strong>Global Elite Law Firm Brand Index 2022
via the form on this page<\/strong><\/h3>\n\n\n\n

This article was originally published by the Thomson Reuters Institute<\/a>, and has been published on Legal Insight with permission.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The 2022 Law Firm Brand Index highlights client trust & relationships are key to brand success.<\/p>\n","protected":false},"author":5,"featured_media":6555,"template":"","categories":[1694,1693,1448,1691,634],"tags":[1695,1336,117,1689,1696],"resource_type":[],"insight_job_role":[1315,1573,1457,628],"insight_practice_area":[],"class_list":["entry","author-traus","has-excerpt","post-6489","insight_resource","type-insight_resource","status-publish","has-post-thumbnail","category-12th-annual-global-elite-law-firm-brand-index-2022","category-law-firm-brand-index","category-leadership-strategy","category-legal-marketplace","category-trends-and-the-future-of-law","tag-12th-annual-global-elite-law-firm-brand-index-2022","tag-client-relationships","tag-client-service","tag-legal-marketplace","tag-trends-and-the-future-of-law","insight_job_role-barrister","insight_job_role-lawyer","insight_job_role-managing-partner","insight_job_role-solicitor","hentry"],"acf":[],"yoast_head":"\nGlobal Elite Law Firm Brand Index 2022 - 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