4 Legal Directory: A big-ticket and resilient industry As a distinct industry in its own right, reports suggest that the legal directories business (as a subset of the broader legal publishing and media industry) is worth USD 250 million a year. Legal directories are not new — the first directory, Martindale-Hubbell, began publication in the nineteenth century in the US — but the modern form of the industry took shape in the 1980s and 1990s and is based mostly in London and New York, though this has begun to change. What are legal directories? The term “legal directories” describes a broad range of products and services that research, list, rank, analyze, and assess lawyers and law firms. Depending on whether you are in a large international firm or a small consumer-focused firm, a directory can be a basic, Yellow Pages-style listing, or synonymous with preparing detailed written submissions, as we do for Chambers, Legal 500 and IFLR1000, among others. These directories employ large teams of researchers to assess the relative qualities of different law firms, each with slightly different methodologies, templates and deadlines. Why do law firms work with them? Legal directories are a fixture of the legal industry, and most law firms engage to some extent with them as a way of promoting their practices to the outside world. How? A ranking in the guide, especially a top tier ranking is considered to be: • A prestigious showcase of your reputation to an international audience • One tool to win clients in a competitive market as it is an independent and objective verification of your abilities
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