Acritas, now part of Thomson Reuters, announced the 2020 Canadian Law Firm Brand Index, the ninth annual edition of the report. For a fifth consecutive year, Blakes and McCarthy Tétrault hold the top two positions. But, this year, McCarthy is closing the gap on Blakes, proving that no matter the power of a brand in any given market, there will always be firms challenging those at the top.
For the first eight years of the Index, the top 10 firms remained the same. Now, for the first time, a new firm enters the top 10: Bennett Jones. The firm breaks into a concentrated and highly competitive market, both of which can make it difficult for firms to achieve a distinctive brand. However, Torys has been successful at this: the firm is the biggest riser in the Index due to unprecedent brand growth, particularly among corporate clients with the largest revenues. It now sits in fifth position. Other consistently leading brands holding positions in the Index include: Norton Rose Fulbright and Osler who sit tied for third, while Fasken, Stikeman Elliott, Dentons and Borden Ladner Gervais (BLG) round out the top 10.
“Corporate clients are hyper-focused on efficiency and effectiveness, and clients are gravitating towards firms that are able to position themselves to provide support in these two areas, especially when it comes to their most strategic, high-risk work,” said Genna Stainforth, senior manager for North America, Thomson Reuters. “Firms often struggle in how to talk about ways they can help clients control their legal costs while still helping the client achieve their business goals. The top 10 firms stand out as a group because they have been successful in talking about their legal services in a business-oriented manner.”
The Acritas Canadian Brand Index measures the firms that: are most top of mind and most favoured by Canadian buyers of legal services; are most considered for top-level litigation and M&A; and sit at the top of clients’ rosters. The Index, compiled from feedback from Canadian organizations with more than US$50M+ in revenues, also includes the views of non-Canadian-based corporate clients who were asked which firms they used for their Canada-based legal needs.
For more information about Acritas and its Canadian Law Firm Brand Index, please contact:
Genna Stainforth on +44(0) 808 178 3020 / email@example.com
Sarah Thompson on +44(0) 808 178 3020 / firstname.lastname@example.org
Now in its ninth year, the Acritas Canada Law Firm Brand Index measures the brand strength of law firms across six metrics: top-of-mind awareness, favorability, consideration for top-level deals and litigation, overall usage among Canadian organizations, and usage among multinationals with interests in Canada. Firms receive points per mention in each of these categories and are assigned a total points score. The firm with the most points sets the index at 100, and all other scores are calculated off of this.
The Index uses data collected from an independent telephone survey conducted between November 2018 and October 2019 of 251 senior in-house counsel or their equivalent at Canadian organizations, as well as 69 multinationals with legal needs in Canada. Respondents represented organizations from a cross-section of industries. The breakout of respondents by province is as follows: 49 percent from Ontario, 19 percent from Alberta; 13 percent Québec; 12 percent from British Columbia and the remaining 7 percent were from other Canadian provinces.