The current landscape

The directories space continues to be dominated by the biggest groups, Chambers and Partners and Legal 500. A few other directories such as IFLR1000 are also prominent, as are some specialist directories covering particular areas such as Benchmark Litigation for Disputes, IP Stars for IP and WTR for tax.

Outside of this group, there are many other organisations that assess law firms, and the last few years have seen a major increase in their numbers. It should be noted however that very few of these new organisations are considered to be reputable. Many of these are described as “pay-to-play”, wherein law firms can buy products in order to improve their chances of being ranked by that directory. These rankings are therefore not considered to have much integrity. The larger directories know that they trade entirely on their reputation of being fair and equitable in their rankings, hence they are more reliable.

Growth of private equity

That said, the larger directories are starting to change their approach to their own rankings, particularly in how best to commercialise their data, engage with law firms and create new products. This increased focus on the commercial arm is largely driven by the fact that a number of the big directories are now owned by private equity. Chambers and Partners was first bought out in 2018 by the PE firm Inflexion, and in 2023 was sold on to Abry Partners- at this sale, Chambers was valued at over £400 million. Meanwhile, earlier this year, IFLR’s parent group Legal Benchmarking was bought out by Triple Private Equity in a similar deal.

In light of the value that is now placed on these companies, the directories have been bolstering their commercial arms to support these products, and sales groups within the key rankings are increasingly getting in touch with firms of their own accord, independently of the research process.

The directories understand that they have a certain tightrope to walk between maintaining the integrity of their rankings and commercial pursuits. They are fully aware that the independence and impartiality of their process is the absolute core of their business; nonetheless, these are businesses, and they are therefore exploring what they can do to maximise their commercial potential whilst also maintaining that integrity.

Directory expansion

As part of the directories’ drive for growth, as well as their goal to produce more comprehensive content, the rankings themselves are continually expanding. The main drive for this expansion is in new ranking tables as their coverage of legal markets deepens and researchers begin to look at new practice areas that are fast developing. For example, the most recent Chambers Europe 2025 guide introduced 17 new ranking tables across 7 key jurisdictions.

The ranking tables themselves have also grown, with more law firms now being recognised on average per practice area than previously. There is therefore an increasing opportunity for firms to achieve a ranking where previously they may have been overlooked. The particular beneficiaries are smaller law firms, those that have been founded more recently, and boutiques who have a very particular area of expertise. One example of this development in Chambers USA guide is known as USA Spotlight, which looks to award recognition to these kinds of smaller law firms in certain states.

They have also sought to release new products making use of the existing data they collect. For example, in the last month Chambers have rolled out a new product called Market Pulse, a tool which makes use of all the commentary the company receives about recent market trends, and identifies what the market considers to be the most pressing issues.

Changes in products: Profiles

Alongside expanding the rankings themselves, the directories are also interested in finding sources of revenue connected to their rankings and are increasingly inviting firms to engage with products relating to the rankings process. For example, one of the major sources of revenue for directories has always been the profile, where a firm can add information about themselves on the directories website.

However recent changes to try and improve the efficacy of the profiles have included displaying law firms with a profile more prominently in the list of rankings, as well as allowing you to post editorial directly to social media.

Changes in products: Expansion of Insight/Research+

Another longstanding tool that is seeing great expansions are the directories’ reports about their ranking decisions. At Chambers these are called Insight reports, whereas Legal 500 refers to them as Research+.

When they were first introduced, these reports were fairly simple breakdowns of the information that the researchers received and the logic behind their ranking decisions. Over the last five years however, these reports have become much more detailed in the information they offer.

Newer features they provide include historical ranking data, numerical ratings for the firm’s performance in key metrics, and comparative data which shows how a team is performing versus closely competing law firms. Legal 500 for example now produces an array of these reports with slightly different areas, such as submission analysis documents and Client satisfaction KPI reports. They have therefore become better value and can be more useful for marketing teams than previously.

Changes in products: Research Management Tool

Another key product that Chambers released a few years ago is the Research Management Tool, which has had a dramatic effect on the research process and the ability of the firms to keep control of the process. Legal 500 have announced that they are introducing a similar tool as part of their Premium subscription.

These tools keep track of the referee process during active research, flagging if somebody
has not responded or there has been an issue with contacting them. Many ranking decisions can come down to whether there is sufficient information to promote, so using this tool can make the difference.

AI

The question of AI and how the directories will use them is also an ongoing issue. So far, the directories have taken a cautious approach to adopting these new technologies internally. As it stands, research remains very labour intensive, backed by large teams (Legal 500 has approximately 50 researchers, whilst Chambers has over 200.)

This is something that may change in future, and no doubt they will be considering how best to use new technology to improve their process. We are keeping an eye out for any potential changes and will send out updates if so.

Continuity in ranking methodology

As much as these changes have significantly altered the approach of the directories and their relationships with law firms, there is a major continuity that should be noted, and that is their core methodology of the rankings. Each directory has a slightly different approach and they have been tried and tested. For example, Chambers places particular emphasis on the feedback they receive from sources, whilst Legal500 primarily focuses on the work evidence provided.

These methodologies have remained steady almost since they were founded over 30 years ago, and whilst the approach around this method may change, it is unlikely that the core process will see any significant transformation.

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If you liked this article, you might be interested reading Laurence’s latest article on How to prepare for the next directories cycle available here.

The post Trends in directories: What is changing and what to look out for appeared first on Tier One Rankings.

Understanding Your Insight Report

Analysis Tips

Insight reports have historically been constrained by strict word limits, meaning that analyses have not always been able to fully and clearly discuss all aspects and nuances around a firm’s performance and ranking decision.

This can lead to an analysis sounding positive while the firm’s or individual’s ranking remains the same. To help explain this, here are a few reasons why a promotion might not have occurred despite an apparently strong performance.

• Lacking similar performances. Chambers aims to avoid kneejerk reactions to performances, so Research might be waiting for evidence that this year’s showing is part of a trend rather than a one-off. Consistently demonstrating strong performances can therefore be beneficial.

• Promoted last year. A strong performance after a promotion is encouraging, as it helps justify the decision to move up. However, Chambers typically looks for evidence that the promoted party can succeed at this level before it is considered for a further promotion. As above, one data point is usually not enough.

• Lacking something compared with higher ranked competitors. The thing lacking might not be clearly stated but only mentioned in passing, for example: “although client feedback is limited“, it is highly effusive. Keeping an eye out for structures like this can alert you to potential shortcomings which could be differentiating you or your lawyer from those in the tiers above.
  
  Note that CMI purchasers can also cross-reference such phrases with the comparative analyses, to further see how they compare with higher ranked competitors.

It is worth noting that Chambers has recently removed the word limits from Insight reports. It remains to be seen how this affects the analyses, but it could potentially mean that reports are clearer and better able to explain the research.

Submission & Rankings Page Tips

What is it? The page that explains your team’s ranking, gives tips for improvement, and provides information about scores, rankings, and referee response rates.

Tip for reading 1: The analysis will generally only touch upon the most important or interesting aspects of your performance. Therefore, if an aspect is not mentioned, this might actually indicate that you’re already on the right track there.

Tip for reading 2: An Insight report will always provide a tip for improving your submission, but you might not always get a referee tip if your referee response rate was above average. In these cases, continuing to put forward a full complement of referees who would be willing to discuss your team and individuals could be beneficial, as it might show consistent satisfaction with the group’s performance.

Individuals Page Tips

What is it? A page containing feedback, analysis, and data about all of your ranked and Potential lawyers and those who have lost their ranking or Potential status this year.

Tip for reading: This is perhaps obvious, but worth reiterating nonetheless: things that might be detrimental to one lawyer might not necessarily be detrimental to another – a lack of work, for instance. There are various reasons for this, such as:

• Trends: Consistently minimal evidence of activity or feedback will likely be more of a concern than a blip in an otherwise strong track record.
  
• Ranking: Although Chambers generally looks for convincing evidence of market involvement for ranked lawyers, there can be more leeway for Senior Statespeople and Associates to Watch (given where they are in their careers) and Eminent Practitioners (given their management responsibilities). Chambers understands that such individuals are usually less heavily involved in frontline practice and might therefore have less evidence of lead roles on work and consequently recent feedback.

Recognising that Chambers prioritises long-term evidence over potential one-off anomalies can help you plan your submission strategy, while being clear on the band definitions can help explain certain ranking decisions.

Competitors page tips

What is it? The page that analyses the performance of up to three other firms, usually in higher tiers.

Tip for reading 1: The Insight team tends to pick competitors based on their ranking relative to your firm’s. This might result in you being compared with groups that you might not consider natural competitors; however, these choices are designed to aid you on your journey up the table by highlighting comparisons with firms in the bands immediately above you.

Firms typically move up one band at a time, making these insights potentially more valuable than comparisons between, say, an unranked group and the market’s most famous teams which all happen to be at the top of the table.

Tip for reading 2: The comparatives should correlate with what was raised on the Submission & Rankings page, giving you concrete examples of good practice that might shed light on how to address the issues raised in Submission & Rankings.

The comparatives might also touch upon issues not previously mentioned, thereby providing extra insight into Chambers’ thought processes around what constitutes standout activity or feedback for that band in that area. This in turn could influence your future submissions and lead to greater similarities with higher placed competitors.

Client Feedback and Market Feedback pages tips

What is it? These pages contain feedback on the department, grouped into themes.

Tip for reading 1: The number of client and third-party comments here might not necessarily align with the data on the Submission & Rankings page. Feedback might be received from non-referee sources (e.g. clients put forward by other firms), or perhaps some of your referees were contacted but didn’t provide usable feedback on this practice area.

Tip for reading 2: Rankings should not be decided on the contents of peer feedback alone, but your standing in the market might be taken into consideration. This could well happen in a competitive section in which all firms are well regarded by clients but not all have comparable peer recognition. The latter might therefore act as another possible differentiating factor between firms.

Modest peer recognition could be symptomatic of poor brand visibility, so approaching your market feedback objectively and understanding the themes within might help spark discussions around how to increase your team’s exposure in the field. Nishlis Legal Marketing works extensively with firms on professional development to help them grow their brands and become recognised as leading experts in their fields.

Other Individuals Page Tips

What is it? The page containing the unranked individuals who garnered feedback in this practice area this year and their comments.

Tip for reading 1: Remember that any individual who is designated internally as a Potential for a ranking or who has lost this designation or a ranking this year will not appear on this page. They will be in the Individuals screen, as they will have an analysis of their performance.

Tip for reading 2: Unfortunately, Chambers does not provide analysis about all unranked lawyers – only those who lost their rankings or are considered internally as Potentials for a listing.

Final Tips and Tricks

• Chambers no longer emails PDF Insight reports; instead, they have to be accessed through the Digital Insight web portal.
• Reports can be downloaded as PDFs and other formats from Digital Insight.
• Digital Insight lets you download your entire report or just certain chapters, enabling you to send only the relevant parts to the relevant people without having to manually divide a PDF.
• Chambers assigns access to Digital Insight to a nominated contact within your firm, so knowing who that is and promptly informing Chambers if you need to change this contact can be useful for maintaining access to your report or
  distributing it internally.

As always, we remain available if you have any questions!

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