Survey: Skadden Is Best-Known U.S. Legal Brand Among GCs
MP McQueen, The Am Law Daily
February 1, 2016
"For the fifth consecutive year, Skadden, Arps, Slate, Meagher & Flom is the strongest U.S. law firm brand, according to an annual survey of general counsel.
Jones Day came in second place and DLA Piper and Kirkland & Ellis tied for third in the survey, the Acritas U.S. Brand Index 2016, which measures awareness and usage by hundreds of chief legal officers and senior counsel. Acritas is a U.K.-based market research firm that has conducted the survey since 2012.
Seven of the top 20 firms made significant gains in brand strength from last year. They include in order of improvement, Sidley Austin; Morgan Lewis; Latham & Watkins; Hogan Lovells; Wachtell, Lipton, Rosen & Katz; Morrison & Foerster and Paul, Weiss, Rifkind, Wharton & Garrison, reflecting the tightening of competition among the entire field.
Elizabeth Duffy, vice president of Acritas U.S., said the survey findings show some firms are gaining on more established ones by clearly defining their brand and value proposition. The average large company uses 12 different law firms for its legal business and is pitched by many more, according to the organization.
“For all of the firms in the market it is becoming harder to stand out and differentiate and to build credible brand strength,” Duffy said. “And it is impacting on the share of total brand power others have in the market, especially Skadden...”
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