The importance of legal rankings, their role in globalisation and the new challenges for firms

“A huge difference that I have detected between what is considered a good lawyer in Latin America and Spain is the specific importance given in these regions to academic prestige”

When asked what elements they take into consideration when recognising firms and offices, he explains that the perception of law firms and their work in Latin America is very different to what, for example, is considered outstanding in countries such as the United Kingdom, Spain, the United States or the Netherlands. He adds that “an enormous difference that I have detected between what is considered, for example, a good lawyer in Latin America and Spain is the specific importance given in these regions to academic prestige”.

Objective: to appear in international directories

As experts in legal directories, Gericó Associates explains the steps that firms aiming to appear in the most prestigious rankings should follow:

1. Submit work that is relevant to the practice area to which they are applying, “Chambers rewards specialisation vs. the ‘generalist’ legal practice model,”.
2. Develop and implement a strategy to refer clients who provide feedback about the firm by talking about the work they have done for them in the past 12 months. They also need to provide concrete feedback on the quality of the work as a team and of individual lawyers.
3. Follow up for client feedback once the research has started.

They point out that it is very important to ask clients for feedback, “it is not a heavy burden. They are usually quite willing to support those who have done a good job for them”.

The metaverse when asked about his views on the role of these rankings today. The Chambers and Partners ecosystem, for example, “is a parallel and virtual reality that has as much weight as that of the analogue world in which, if firms want to stand out in a globalised world, they must participate. Even if as a firm you consider yourself to be important and relevant in the analogue world, if you are not in Chambers, you probably won’t be in the real world“.

It is important to know that directories such as this one have allowed Spanish and Latin American firms to make the leap into markets such as India or China, as investors in these countries rely on the international rankings to identify local counsels in those jurisdictions unknown to them.

The directories, although not usually recognised, have influenced the way in which legal professionals provide their services, particularly in Latin America, from a client service perspective, from personal presentation to punctuality, for example. “Other elements in which Chambers could also be said to be influencing client services is the greater concern for a more commercial and dynamic approach, as opposed to the traditional, more static and ceremonial view of the nineteenth-century lawyer,”.

New ways of promoting work and getting it recognised

There are many ways, and Gericó Associates is convinced of this. There is a need on the part of clients to receive regular newsletters with information of interest to them. Our team give as an example sending information on regulatory developments relevant to their area of practice or relevant events in the market in which they operate, among others.

Another way to stand out is by making use of digital platforms, on which they can view the status of their proceedings online, for example, in the case of litigation.

“I believe that every law firm has at least one aspect that differentiates it from its competitors, and this needs to be properly showcased and highlighted. Finally, and especially in Latin America, I believe that law firms in their digital strategy need to shed some of the weight of the image of traditional and old law firms and integrate more with other activities.”

New challenges for directories

Chambers and Partners is working on developing methodologies that allow its research to better reflect key aspects of the legal profession, such as female representation. Among the changes that the expert considers should take place soon, “the coverage of areas more focused on issues of importance to society, such as ESG, replicating some areas, such as Human Rights and Civil Liberties in other jurisdictions, in addition to the UK, or continuing to improve and implement best practices for communication with referrals for the purpose of collecting data from their research”.

Gericó Associates relationship with firms and our role in the field of Legal Marketing

Our consultancy seeks to be the link between Spain, the UK and Latin America, both in terms of connecting law firms with each other and helping them to enter and participate in those markets, as Espinoza points out during the interview.

“In particular, in our international directories department we have ex-Chambers and Partners and people with experience in law firms in Latin America. What we offer our clients is a highly specialised service focused on the needs of the firms, but with a special care for managing expectations in relation to the time required for a firm, whether it is entering for the first time or progressing in global rankings,”.

In conclusion, Espinoza adds that he enjoys working closely with the firms, “our conversations, our interaction, so I can guarantee that the service is highly personalised”.