The Acritas 2017 Canadian Law Firm Brand Index Reveals Blakes is #1 by the Widest Margin Ever
Blake, Cassels & Graydon (Blakes) is Canada’s strongest law firm brand for the second year in a row and the third time in six years, according to Acritas' Canadian Law Firm Brand Index 2017. This year, Blakes takes the top spot with considerable breathing room from the rest of the pack: McCarthy Tétrault holds its number two spot, but 15 points separates the top two brands, the widest gap since the Index was first published by Acritas six years ago.
Launched in 2012, Acritas’ Canadian Law Firm Brand Index has since revealed that the strongest brands are those that perform well across multiple metrics amid an increasingly competitive and discerning market.
“Law firms realize that a strong legal brand has tangible value, resulting in more new business opportunities and a greater share of spend from clients,” said Elizabeth Duffy, vice president of Acritas. “Blakes continues to hold onto mindshare in all the right categories, including: awareness, favorability, consideration for top-level M&A work and usage among the inbound international buyers in Canada. They are to be congratulated.”
In addition to ranking first in 2016, Blakes also held the top spot in 2014.
Compared to last year, there were minimal shifts among this year's Top 10: Osler Hoskin, climbed two spots to sixth place; BLG and Tory's each dropped one spot to seventh and eighth places respectively; and Dentons and Gowling WLG swapped places to round out the top 10.
The biggest jumps in rankings over the last six years are some of the strongest Canadian brands. Norton Rose Fulbright has gained 33 points since 2012; and Blakes and Fasken have each gained 15 points.
Now in its sixth year, Acritas’ Canadian 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 for litigation, overall usage among Canadian organizations, and usage among multinational firms 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 January and October 2016 of 341 senior in-house counsel or their equivalent from Canadian organizations and from multinationals with legal needs in Canada. Respondents represented organizations from a cross-section of industries. The breakout of respondents by province is as follows: 52 percent from Ontario, 17 percent from Alberta; 14 percent Quebec; 11 percent from British Columbia; and the remaining 7 percent were from other provinces.