Lawyers split over value of legal directories, poll finds
22 April 2021
Readers survey finds respondents in two equal camps over whether rankings boost transparency
Alexander Limbach; Shutterstock The legal profession is divided on the value of the legal directories with an even split between those who believe they improve transparency and those who dispute this, according to the latest Global Legal Post snapshot survey. However, a majority of lawyers and other professionals working in the market believe directory rankings are at least ‘somewhat accurate’ and nearly two thirds think clients refer to directories to choose advisers at least sometimes. Chambers and Partners, meanwhile, was ranked ahead of The Legal 500 as the market leader.
You can t charm directory researchers - it is about getting the process right
15 April 2021
Consultant Alex Holtum argues that prioritisation is the key to maximising directory rankings
Ken stocker; Shutterstock The key to maximising law firm directory rankings is a systematic approach to the submissions process that focuses on the areas that matter most. You have to follow the process, tick the right boxes, get references to respond, put in the right information about work highlights and if you don t, you won t get the rankings you deserve, says Holtum, who is hosting an online Global Legal Post course on 28 April on how law law firms can maximise their directory rankings. In the past people thought you could charm the researchers into ranking them higher; maybe once upon a time you could but that s certainly not the case anymore.
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Mid-sized New York firm trumps Kirkland and Skadden in $77bn SPAC IPO bonanza
16 March 2021
Ellenoff Grossman & Schole advises on 71 IPOs amid surge in SPAC issuance in 2021
Rocket Lab s go public deal was completed earlier this month Rocket Lab New York firm Ellenoff Grossman & Schole (EGS) is cashing in on a record run of special purpose acquisition company (SPAC) IPOs this year, advising on more deals than its closest rivals, international giants Kirkland & Ellis and Skadden, according to data supplied by Refinitiv Deals Intelligence. EGS, which lays claim to have had the most active SPAC programme over the last decade, has advised on 71 IPOs valued at $17.6bn – either as legal adviser to the issuer or underwriter – in the period to 11 March this year. That is comparable to its entire 2020 tally.
Nearly a third of global legal departments are increasing their technology spending, study finds
12 March 2021
Rise in investment comes despite frozen or falling budgets and a coronavirus-fuelled rise in workloads
Shutterstock Nearly a third of legal departments globally are upping their spend on technology, with 44% increasing their use of tech tools, according to new research from Thomson Reuters. Some 30% of departments are investing more in tech, the 2021 State of Corporate Law Departments report found, and they are doing so against the background of frozen or declining overall budgets and rising workloads, both as a direct result of the Covid-19 pandemic.