Why should you get a place in law rankings?

You have probably heard of Chambers and Partners or The Legal 500, especially if you are a lawyer or work with them. Maybe you have relate them to Law Rankings. But do you really know what they are?

These companies are generally known as ‘international directories‘ and they are legal publishers that, after an extensive research process, feature law firms and their practitioners in different positions in various law rankings by region, country or jurisdiction and practice area.

There are numerous international directories currently operating, but the most prestigious and longest established are undoubtedly the British publications Chambers and Partners and The Legal 500.

The former is often referred to as the gold standard of corporate law and is where everyone wants to get a place, and unsurprisingly, the one with the reputation of being the most difficult to rank for the first time.

Now, why are these law rankings important? Firstly, it is an objective way to get recognition, as the decisions are based on independent research and you cannot pay for a place there. Also, as they present the departments of each firm in different bands, a standard can be defined in each practice and this serves to analyse current competitors. It is an external seal of quality and assurance, which additionally serves to consolidate the firm’s reputation and attract national and international opportunities.

Last but not least, many decision-makers (Legal Directors, CEOs) consult these lists before deciding to engage a firm to advise them on their legal needs.

In times of the Covid-19 pandemic, many lawyers have seen that they have more time to dedicate to business development and focusing on the positioning that a listing in an international directory can provide is a very good way to work for the firm’s present and future. Obtaining a ranking is a job that involves many hours of dedication if you do not have a department (internal or external) in charge of compiling the information and presenting it in the submissions that you then have to submit to each directory.

Recommendations to achieve a place in Law Rankings

• Plan the submission with time and attention, coordinate and define roles within the team to report the work internally throughout the year.
• Prepare the list of referrals or referee spreadsheet thoroughly. Referrals are usually clients who have worked with the firm in the last 12 months and can give references on the service received.
• Follow up with publications to which they have applied, and keep track of new deadlines or key dates.
• Seek external professional advice if you do not have an in-house team with the necessary expertise.
• Don’t get discouraged if you don’t get a ranking the first time: it is a job that can take up to three years, as most directories are based on trends that they observe year after year.

International directories in Mexico

Mexico is a very interesting country for these publications, as it has a developed and specialised legal market. This is why they tend to cover new practice areas every year and keep an eye on new  rankings that are published and events that are held online and in person.

Chambers and Partners presents approximately 30 different tables with rankings by practice area in the country, and includes specific tables for Monterrey and Guadalajara, so the opportunities to find a niche for each firm are numerous.

For its part, The Legal 500 covers fewer areas, approximately 20, and with the novelty that, in the next edition, expected for the second half of 2020, there will be new tables for Compliance and Life Sciences, in addition to launching a City Focus for Monterrey and Guadalajara, similar to the style of Chambers.

In addition to the aforementioned directories, there are many more publications, some more prestigious than others. The key to deciding which ones to apply to will depend on the firm’s speciality, size and objectives, but it is always recommended to make a prior analysis to determine which ones to allocate more resources to.

Gericó Associates is pioneer on Legal Marketing Consultancy services, LegalCom and Business Development in Europe and Latin America. If your firm needs councelling looking for new trends and challenges within the legal sector, do not hesitate to contact us by clicking here.