Law Firm Rankings for 2014 Published by US News & World Reports
Even though market trends show clearly that a larger number of general counsel are opting to hire smaller and focused law firms than the behemoths, unless the need is clear, Big Law refuses to give up and claims to be reborn. Law Insider pointed out the trends of this rebirth of Big Law is evinced in patterns where work is no longer the sole responsibility of a senior partner and "a cadre of freshly minted associates." Big Law is quickly learning from its corporate clients how to manage their business in the 21st Century. With clients becoming cost conscious hourly billing is being replaced by flat fee structures and other arrangements that are more convenient or transparent to clients. This is sometimes also taking the shape of fixed budget work. Also new practice areas like biotechnology, pharmaceuticals, health care, and financial services regulations have enriched the prospects of law firms who have kept up with changes in market requirements and trends.
Even with all the upheavals in the legal industry, Big Law continues to survive and outdo with almost the same names reappearing year after year in the rankings. The Best Law Firm of the Year awards list saw Gibson Dunn topping Antitrust, Mayer Brown as the best in Appellate Practice, Jones Day in Bankruptcy, Latham & Watkins in Banking and Finance, Baker Botts in Administrative/Regulatory, Skadden Arps in Commercial Litigation, Sidley Austin in Corporate law, Weil Gotshal & Manges in Corporate Governance Law, K & L Gates in White Collar Criminal Defense, Ogletree Deakins in Employment law, Pillsbury in Environment, Morrison and Foerster in Financial Services Regulation, DLA Piper in Franchise, and Reed Smith top in Insurance law among others.
The full rankings are present on the US News Website.