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This comprehensive score-based ranking system evaluates the top law firms in SurePoint Legal Insights’ database, utilizing key indicators such as success, profitability, viability, growth, and potential opportunity.
Latham & Watkins LLP tops the list, maintaining a perfect score of 500 for over half of 2023. The top 20 also features seven new entrants, including Skadden, Arps, Slate, Meagher & Flom LLP, Jones Day, Wilmer Cutler Pickering Hale and Dorr LLP, Orrick Herrington & Sutcliffe LLP, Ogletree, Deakins, Nash, Smoak & Stewart, McDermott Will & Emory, and Littler Mendelson. Remarkably, Jones Day experienced the most significant year-over-year turnaround, climbing 158 spots to secure 11th place overall.
Ogletree Deakins, which made the LLFI top 20 despite being 77th in the Am Law top-firm ranking by gross revenue, did so by continuing to dominate the labor and employment space, where over 1,000 of its attorneys are concentrated. Additionally, among the eight key indicators the LLFI bases its score on, Ogletree excelled in employee retention and gender diversity at the partnership level.
Paul, Weiss, Rifkind, Wharton & Garrison LLP joined the leaderboard despite a lackluster 2022, during which it declined by 10%, the worst decline among the Am Law 50, even though Am Law 50 firms grew by 6% in general during the same time. However, Paul, Weiss was able to climb back up and now ranks within the LLFI top 20 by focusing on its growth and retention strategies.
The Leopard Law Firm Index, established in 2020, has become an indispensable tool for legal leaders to gauge law firm growth and stability. It enables firms to better understand their performance, identify potential issues, and proactively plan recruitment and growth strategies. In-house counsel can also make informed decisions about engaging law firms for specific legal service needs.
The scoring system of the Leopard Law Firm Index ranges from 0 to 500:
- Poor (0-124)
- Fair (125-249)
- Good (250-374)
- Very Good (375-500)
The top 10 law firms that made the 2023 leaderboard:
- Latham & Watkins LLP
- Holland & Knight LLP
- Kirkland & Ellis LLP
- Greenberg Traurig LLP
- Morgan, Lewis & Bockius LLP
- DLA Piper
- Ropes & Gray LLP
- Gibson, Dunn & Crutcher LLP
- Goodwin
- Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates
Firms demonstrating sustained excellence throughout the year will retain their positions on the Leopard Law Firm Index (LLFI), updated twice weekly.
The LLFI Report is available for comprehensive and timely analysis on Legal Insights’ Business Intelligence (BI) platform.
