Who Uses Legal 500?

Legal 500 is one of the leading global legal directories, attracting over 6.1 million unique visitors annually, with more than 21.5 million page views. It has become a go-to resource for 90% of Fortune 500 companies, 95% of FTSE 350 companies, and 100% of Fortune 500 financial institutions and pharmaceutical firms. This extensive user base highlights its importance for law firms looking to increase their visibility among high-profile clients.

Why Submit to Legal 500?

Legal 500’s rankings are determined based on feedback from over 300,000 clients worldwide. The directory focuses on law firms that deliver innovative and cutting-edge advice to corporate counsel. With over 316 firms ranked, the focus is on exclusivity, with many firms earning only a few rankings across their various practice areas. Legal 500 emphasizes quality over quantity, making it a prestigious platform for law firms to showcase their expertise.

Submission Best Practice:

• Matter Descriptions

Submissions should include matters that occurred between November 2023 and November 2024, summarizing key aspects of the case individually rather than grouping them together.

Each firm is allowed to submit up to 20 matters, and the same matter may appear in multiple submissions if tailored for different practice areas. Ensure all relevant details, such as dates, team members, and opposing parties, are included. This attention to detail helps Legal 500 accurately evaluate the scope and complexity of the work.

• Confidentiality

Non-publishable work highlights (WHs) and client names should be included in the designated confidential sections of the submission.

While confidential WHs are treated equally for ranking purposes, it’s critical that firms disclose significant aspects of the work.

The matter summary section should be clear and concise, offering a one-line synopsis of the work handled, ensuring it’s ready for publication.

• Team Information

Providing comprehensive team details is key to a successful submission. Include information about any significant arrivals or departures within the senior team that are relevant to the practice area. Legal 500 is interested in how these changes impact the firm’s ability to deliver cutting-edge services. The team’s role in significant matters should be clearly reflected in the submission to highlight the firm’s bench strength.

Categories of Lawyers

• Leading Partners: Partners leading market-defining work.
• Next Generation Partners: Partners with three to five years’ experience.
• Leading Associates: Key associates or of-counsel driving major matters.
• Recommended Lawyers: Any individual mentioned in the editorial, client testimonials, or as heads of practice.

Client Referees

Referees are a critical part of the Legal 500 evaluation process. Firms should submit their client referees in the correct format without altering the template. The number of referees is unlimited, and firms can use the same referee across multiple practice areas if necessary.

Legal 500 will contact referees directly via email (editorial@legal500.com) and maintain their anonymity to ensure honest feedback. The feedback is then used to assess the firm’s service quality and client relations.

How Firms Are Ranked

Legal 500’s rankings are based on a rigorous, evidence-based approach. The most important factors are the work presented in submissions, the firm’s track record, and the calibre of the client base. Rankings also consider market share, bench strength, and team developments, such as new hires or departures.

In addition to these factors, referee feedback and the firm’s perception in the market influence rankings. However, unlike other directories, academic achievements or industry awards are not considered. Legal 500 focuses solely on a firm’s ability to deliver high-quality legal services.

What’s New? Key Ranking Updates for US Law Firms

The Legal 500 2025 US edition introduces several new and amended ranking categories that US law firms should be aware of.

New Ranking Categories

• International Business Reorganizations (Corporate M&A)
• National Security (under the renamed International Trade and National Security BPA)
• Commercial Lending – Advice to Direct Lenders/Private Credit

Amended Categories

Several practice areas have undergone renaming or have been divided into separate subsections, including:

• International Trade and national security – updated BPA
• Cartel (Investigations and criminal litigation) – RENAMED SECTION
• Civil litigation (incl. class actions) – defence – RENAMED SECTION
• Civil litigation (incl. class actions) – plaintiff – RENAMED SECTION
• Commercial Lending: advice to borrowers – NOW A SEPARATE TABLE
• Commercial Lending: Advice to bank lenders – RENAMED SECTION
• Financial services regulation: Banking – NOW A SEPARATE TABLE
• Financial services regulation: Consumer finance and broker-dealers – RENAMED SECTION, NOW A SEPARATE TABLE

A full list of new and amended categories is available on the Legal 500 US Submissions Information page.

US City Focus: A New Regional Ranking Initiative

Legal 500 has introduced the US City Focus, which aims to recognize law firms that stand out on a regional and national level. This initiative initially targets firms in New York, Chicago, and Washington D.C., with a second phase covering Boston, Charlotte, and Miami. It will highlight partner-led firms outside the global elite, offering a fresh perspective on legal powerhouses in key US cities.

While Legal 500 will adopt a shortlisting approach, law firms are encouraged to submit if they believe their lawyers are well-suited for consideration. To inquire about submissions or further details, contact Barnaby Merrill or Nathan Oseroff-Spicer at nathan.oseroff-spicer@legal500.com.

Why Subscribe to Legal 500?

Subscribing to Legal 500 offers significant advantages, particularly for firms aiming to boost their visibility and engagement within the legal market. Here’s why subscribing is worthwhile:

• New Platform: The platform has undergone significant enhancements, including new rankings, client satisfaction scores, and the ability to filter firms by national or international approaches, offering users a tailored experience.
• Massive Audience Reach: Legal 500’s vast audience provides subscriber firms the opportunity to engage with an expansive, global market. By subscribing, your firm can increase its visibility and reach within Legal 500’s audience of influential companies and decision-makers.
• Proven Marketing Effectiveness: Legal 500 has consistently demonstrated its effectiveness as a legal marketing tool. The platform enables firms to stand out in a competitive market, helping build a strong reputation with existing and potential clients.
• 2025 Updates: The 2025 edition comes with a brand-new user interface, improved functionality, and over 500 new tables. The new platform is also AI-optimized to ensure maximum impact, allowing firms to better leverage data and user engagement to enhance their profiles.
• Enhanced Visibility: Subscriber firms enjoy significantly increased visibility on the platform, ensuring that their profiles stand out among competitors. This visibility is critical in the highly competitive legal industry, where client engagement and brand differentiation are key to success.

By subscribing to Legal 500, your firm will be better positioned to showcase its strengths, attract new clients, and solidify its place in the legal market. The combination of enhanced functionality and a proven track record makes this platform a valuable tool for law firm marketing and growth.

Research+ Program: Gain Strategic Insights

The Research+ Program offers law firms strategic insights through early access to rankings and submission feedback. The program evaluates the firm’s market reputation, client feedback, and compares it to industry peers. This detailed analysis, conducted by the Legal 500 research team, provides actionable suggestions for improving submissions and identifying growth opportunities. For more information on Research+, contact Tim Verbrugge at Tim.verbrugge@legal500.com.

The post Legal 500 US ‘Meet the Editor’ Webinar Watch: Key Takeaways for US Law Firms appeared first on Tier One Rankings.

Anna Bauböck and Daniela Costa, Editors for The Legal 500 Europe, Middle East and Africa, addressed F&Qs and covered a wide range of expectations, requirements and practices Legal 500 look for when reviewing submissions and referees.

We also had the opportunity to hear from Jordan Lincoln, Head of Business Development for EMEA, on the ways in which law firms can stand out in the upcoming Legal 500 2025 edition. This article summarizes the key takeaways from the webinar to guide legal professionals in optimizing their Legal 500 rankings.

Why submit to Legal 500?

Legal 500 reported 5.9 million users access the Legal 500 website annually, meaning it has been visited 2.5 times more than their biggest competitor. Alongside its popularity, the Legal 500 rankings and awards are used extensively by various in-house lawyers, business leaders and law firms – according to their research, they have received feedback from over 300,000 clients worldwide!

Due to their comprehensive research programs, Legal 500 rankings are based on a series of criteria which require law firms to highlight their most elite in their areas of practice. Brand reputation alone does not help in this regard, only outstanding work must be submitted within the research period (past 12 months).

What does the Research timeline look like?

May: New submission guidelines (i.e. submission information page) released. It is possible that new or amended ranking categories are introduced, so make sure to check every year. It is advised that you download the submission template and referee spreadsheet to familiarize yourself with the format of Legal 500 and be aware of any changes made to submission fields or commentary sections.

August: Referee deadline (including Nordics) is 5^th August 2024. Editorial submission deadline is also 5^th August 2024. However, for Nordic jurisdictions the editorial deadline is 30^th August 2024. Please submit via the submission portal on Legal 500 as emailed documents will not be accepted. Ensure you send separate submissions and referee spreadsheets for each practice area.

September – November: During this period, interviews take place. Updates can still be made to the submission as long as you reupload the updated submission on the Legal 500 submission page. Interviews should involve senior practitioners and practice management, last 30 minutes and try to request interviews proactively – if you feel like you really want an interview, major developments in the relevant practice area or team. If you had a recent submission update (e.g., team change or matter changed confidentiality), you can still update and re-upload on L500 portal, replacing the older version. If done so correctly, please notify the researcher with reasonable notice so they have ample time to analyse all recent developments.

December – March: By this point,research has concluded. This means updates about matter highlights can no longer be applied to uploaded submission, but exceptions still apply. For example, major developments like team restructuring or a recent merger will be regarded as acceptable updates at this stage. Once finalised, Editors start working on ranking decisions.

March: Legal 500 EMEA 2025 edition released. Queries via FAQS (legal500.com/faqs).

What’s new with Legal 500 EMEA?

Legal 500 have introduced new ranking categories for the EMEA regions:

• Spain – Financial Services Regulatory
• Spain – Venture capital

Alongside these additions, they have also amended certain categories as they believe it is best to merge all energy related submissions into one:

• Netherlands – Energy Transactional & Regulatory work is now merged into one consolidated ranking
• Norway – Offshore Construction & Shipbuilding is now split into: Offshore Construction and Shipping & Maritime law (include shipbuilding work)

Additionally, Legal 500 announced they will split Real estate & Construction for Switzerland:

• Switzerland – Real estate & Construction is now split into: Real estate and Construction.

Lastly, the following category was removed from Legal 500 EMEA:

• Switzerland – Leading Firms: Italian-speaking Switzerland

Submission best practices?

1. Matter highlights:

Remember to include the recommended number of highlights (20) that fall within the research time period (past 12 months). Identify what is significant about your role in the matter (don’t just provide a description). It is important you complete all submission fields, including dates, team members and opposing parties if relevant. You are allowed to include the same matter in more than one submission but please tailor the matter description to the relevant practice area.

2. Confidentiality:

Work marked as confidential must stay confidential (only used for internal research). Many believe confidentiality will lead to a weaker submission. However, the editors at Legal 500 have confirmed you will not be penalised for providing confidential information. This is because they are treated the same from a ranking perspective as publishable highlights.

3. Team information:

It is ideal that you do not include lawyers who have spent less than 50% of their time practising in a practice area you are submitting. Please do not put forward practice heads or recommended lawyers for recognition who do not feature in the matter highlights.

4. Lawyer categories:

Acclimatize yourself with the following Legal 500 lawyer categories:

1. ‘Hall of Fame’: Lawyers widely regarded as being at the very top of the profession, and consistently ranked as leading individuals for several years.
2. ‘Leading Partner’: True market leaders with long-established reputation, lead roles in multiple recent significant matters, and exceptional endorsement from peers and clients.
3. ‘Next Generation Partner’: Lawyers with generally five years or fewer at partner level, significant recognition from client and peers, and recent lead roles on multiple matters.
4. ‘Leading Associate’ (non-partner): Association level lawyers who appear frequently in significant matters.

What was said about client referees?

When submitting your referee list to Legal 500, ensure you submit in the correct format – also do not amend or add any additional fields to the spreadsheet Legal 500 supply.

Only provide one referee spreadsheet per practice area and if you are struggling to gather enough referees, remind yourself that anyone (e.g., another firm or someone who isn’t an in-house counsel or CEO) who can provide an informed opinion about the sophistication of work involved, are eligible.

Due to the sensitive nature of certain matters, Legal 500 guarantee client referee anonymity. Before you decide including referees in your submission to Legal 500, always ask for their permission first as Legal 500 does not want to contact referees who didn’t provide consent. Another important practice is to double check (annually) your referees will respond in a timely manner.

How Legal 500 rank firms

Legal 500 rank firms on several factors based on the matters you submit and the referees you choose. Please consider the following:

• Evidence based approach to the rankings – work presented in the submission
• Track record in a practice area
• Calibre of the client base
• Market share
• Bench strength
• Team developments
• Sector strengths
• Referee feedback

How do you make a good submission?

When determining the strength of your submission, you should ask yourself this question: what really differentiates you from your peers? This will help you sell yourself as an individual and a representative of your firm. To answer this question effectively, it is crucial you focus on facts to demonstrate your position. Tell the researcher about team growth, new clients and new areas of work.

Due to the limited number of work highlights you can include, use matter highlights wisely. You must emphasise your role and why its special – don’t just describe the work you were involved in. Talk about strategic growth plans for the practice rather than. Don’t make matters confusing by including legal jargon as not all Legal 500 researchers/editors have a legal background. Finally, submit on time and in the right format – including referee data.

The post Legal 500 EMEA 2025: Insights from ‘Meet The Editor’ Webinar appeared first on Tier One Rankings.

With the latest Chambers USA launched today, the guide received over 58,000 responses from US law firm departments and individuals, by way of interview or survey (between August 2023 and February 2024).

Trends discussed on today’s webinar referenced how embattled GCs face post-pandemic interest rates and inflationary pressures, proving difficult for many law firms across various practice areas (e.g., there was a 10-12% decrease in M&A aggregate value). Yet, there were strong revenues in the upper ranks and for those who have become a destination practice for strategic or bet-the-company work.

This year shows a remarkably stable and resilient US economy and legal market.

Chambers USA Regional Spotlight:

Chambers continues its mission to spotlight the best-performing firms, ranging from small to medium-sized firms that are considered go-to counsel for legal buyers seeking wider options and localised expertise.

This year, Chambers returned to Texas and continued to delve into the legal markets of Florida, New York, and North Carolina. In addition, Chambers announced they will spotlight law firms based in Ohio and Illinois.

New Submission Areas for Chambers USA 2025:

In each state, Chambers ranks the top US law firms in four areas of law: Corporate/Commercial, Labor & Employment, Litigation, and Real Estate. Despite covering over 50 different practice areas/sectors on a state and national level, Chambers has announced that they will be introducing new coverage areas this year.

The new areas of coverage are as follows:

• Nationwide: Construction: International Disputes
• Nationwide: Higher Education
• Nationwide: Impact Investing
• Nationwide: Energy: PHMSA Specialists
• Nationwide: Transportation: Aviation: Transactional

Practice areas ranked at the state level are based on the location in which a law firm or individual lawyer practices, regardless of where their clients are located or where most of their deals take place.

USA Research Expansion:

Research for the Chambers USA 2025 Guide will begin in August this year.

The upcoming edition will cover numerous emerging and expanding practice areas across the US legal market, expanding existing areas of coverage into new jurisdictions.

The full list of research coverage can be found here.

When should I submit?

Submissions for the Chambers USA 2025 Guide are now open!

The first submission deadline is 11 July 2024. The full research scedule can be found here.

Upcoming Events:

• Annual Chambers USA Awards – June 13^th, 2024

Sources:

https://chambers.com/legal-guide/usa-5

https://chambers.com/topics/new-submission-areas-for-chambers-usa-2025

The post Chambers USA 2024 Guide Launch appeared first on Tier One Rankings.