How are the rankings determined?

The IFLR1000 rankings are determined based on a comprehensive evaluation process that involves the following four key components:

1. Deal Highlight:

This aspect focuses on the significant legal transactions and projects undertaken by law firms. It assesses the complexity, innovation, and impact of these deals, allowing firms to showcase their expertise in various practice areas.

2. Client Survey:

Client feedback plays a crucial role in the IFLR1000 rankings. The client survey component involves obtaining input from clients who have worked with the law firm during the research period. The survey seeks to gauge client satisfaction, the effectiveness of legal services, and the overall client-firm relationship.

3. Partner Interviews:

Partner interviews provide an opportunity for IFLR1000 researchers to engage directly with key partners at law firms. These interviews delve into the firm’s capabilities, expertise, and notable achievements. Partners may provide insights into the strategic direction of the firm and elaborate on their roles in significant deals.

4. Lawyer Survey:

The lawyer survey is a critical component and will be relied on more heavily this year, especially in light of the change from evaluating 20 matters to 10. It allows lawyers, especially junior lawyers nominated in the Rising Stars categories, to highlight their individual contributions. This survey provides a more nuanced view of the firm’s talent pool and acknowledges the diverse contributions of legal professionals.

Why the Shift from 20 Matters to 10?

• The shift from evaluating 20 matters to 10 is a strategic move aimed at enhancing the competitive aspect of rankings. The change encourages law firms to focus on the most impactful and impressive projects, providing detailed insights into innovative, impactful, and challenging cases.

What are the main guidelines when crafting the work highlights: 

• Context is Key: avoid leaving sections blank, as it makes it harder for researchers to judge.
• Ensure that you are looking at practice areas relevant to your jurisdiction and reviewing the definitions before selecting matters.
• Provide articulate and digestible information that can be easily benchmarked against other firms.
• Focus on the most impactful work and explain why a case was innovative, impactful, or challenging.
• Deal Values: Include deal values when possible. 
• DEI & ESG: Fill in information related to Diversity, Equity, and Inclusion, as well as Environmental, Social, and Governance initiatives. It can demonstrate the firms level of sophistication. 

How many referees can I include?

• Include as many client referees as possible, picking those willing to participate.
• Inform clients beforehand to increase engagement
• Nominate referees capable of providing comparative, tailored feedback about lawyers and the firm. This feedback is more valuable to your ranking than a generic one. 

Please note: IFLR1000 is also considering introducing client discovery calls to enhance the quality of feedback so your refers may be approached to set up a call. 

How can I boost my individual ranking? 

• Add significant work in the work highlights
• Use the lawyer nomination section of the submission to make your case in a short concise matter that is relevant for the research period, highlight evidence, wins, and recognitions, and DON’T repeat your website biography information. 
• Provide valuable, available referees.
• The lawyer survey – given the change from 20 matters to 10, the lawyer survey provides an opportunity for all lawyers, especially rising star partners, and rising star associates to showcase their contributions. 

If I was interviewed last year, will I be interviewed this year as well?

IFLR1000 tries to rotate the firms getting interviewed to get an objective view of the market so you may not be approached year after year. However, firms can reach out to IFLR1000 if they wish to participate in partner interviews.

Staying informed about the IFLR1000’s ranking criteria and incorporating the recommended tips into your submissions will not only enhance your firm’s visibility but also contribute to a more accurate and comprehensive assessment of your legal expertise.

The post IFLR1000 2024: Insights from a Q&A Webinar by IFLR1000 Global Editor, Danielle Ngwana-Joseph  appeared first on Tier One Rankings.

Firms are assessed based on their technical legal ability, commercial awareness, business understanding, diligence, and, significantly, the depth of their team and the quality of client service. Despite the weight of client feedback, a firm must focus its efforts on demonstrating market-leading work.

Chambers’ own practical tips underline clarity and impact. It advises firms to be concise, avoid marketing jargon, and prioritize verifiable information over other directory rankings. Highlight descriptions should address the significance of the work, ideally falling within 12 months of the submission deadline. Moreover, firms are encouraged to update ongoing matters to reflect recent progress.

Expansion in Referee Submissions and New Sections

Recognizing areas with high potential for economic growth and legal market expansion, Chambers has increased the limit of accepted referees from 20 to 30 in certain jurisdictions. This applies to markets such as the Cayman Islands, Israel, Nigeria, Kenya, South Africa, and the United Arab Emirates.

New submissions sections have also been unveiled, addressing specific areas of legal practice. Notably, the Africa-wide Banking and Finance category is seeking firms that excel in cross-border transactions, excluding project finance which is reserved for the Projects and Energy section. Furthermore, Chambers is sharpening its focus on Kenya and Nigeria with the introduction of competition and tax submissions. In the United Arab Emirates, a new section dedicated to Venture Capital and Emerging Companies has been distinguished from the broader Corporate M&A coverage, spotlighting transactional work for startups.

Upcoming Events and Key Dates The webinar culminated with the announcement of key dates and upcoming events. Law firms are urged to note these carefully, as submission deadlines have varied from previous years.

• Chambers Africa Awards: Virtual ceremony on January 24, 2024.
• Middle East Awards: In-person at Conrad Hotel, Dubai, March 7, 2024.
• 2024 Rankings Release: February 15, 2024.

Submission Deadlines for 2024 Research Cycle:

• February 21
• April 17
• May 30

The post From Submission to Ranking: Chambers Explained appeared first on Tier One Rankings.