Canadian Lawyer

54 A u g u s t 2 0 1 4 w w w . C A N A D I A N L a w y e r m a g . c o m by jiM MiddleMiSS BaCk pagE O P I N I O N Canadian legal brands shaping up a mazon founder Jeff Bezos once said "your brand is what people say about you when you're not in the room." It's an astute observation and particularly rele- vant in the world of professional services, where people, more than products, define an organization. Lawyers are synonymous with a law firm brand. A lawyer who is seen as shady or someone who pads a docket will weigh on the overall perception of the firm. The flip side is also true. If you're viewed as smart and efficient, that, too, rubs off on the brand, in a good way. When it comes to Big Law, more focus is being placed on brand and most of Canada's biggest law firms have gone through at least one, if not more, "rebrandings" since the raft of mergers creating national law firms. Law firm logos, tag lines, firm colours, and vision statements are much different today than a decade ago. We can argue whether managing partners should run and hide when the 'R' word is raised (rebranding), since it is usually expensive and, some argue, futile, but the reality is brand plays an increasingly important role in the legal business as competi- tion heats up. "Firms are really starting to wake up to the importance of brands in Canada," said Elizabeth Duffy, vice president U.S. for Acritas, a research firm that publishes the Canadian Law Firm Brand Index, as well as indexes for other countries. According to Acritas, Canada's top 10 legal brands in 2014 are: 1. Blakes 2. Norton Rose Fulbright 3. Stikeman Elliott 4. Osler 5. Fasken Martineau 6. McCarthy Tétrault 7. Torys 8. Gowlings 9. Dentons 10. BLG It's based on a survey of 191 senior general counsel in Canadian organiza- tions with revenues exceeding $50 mil- lion — half have revenues exceeding $1 billion and half under. Another 77 senior in-house counsel at organizations outside of Canada are asked which firms they use for their legal needs. The survey canvasses participants on six categories: • top-of-mind awareness; • favorability; • consideration for major M&A; • consideration for top-level litigation; • most used for high-value work; and • most used for inbound work. The categories are then weighted and a score is ascribed. The top firm scores 100. The survey is measuring recognition, said Duffy, and not "calibre or quality." That partly explains the absence of firms such as Davies Ward Philips & Vineberg or Goodmans LLP from the top 10, since they would be on many general counsel's go-to lists for hostile mergers or big- ticket litigation. This year's biggest advancer was Oslers, jumping four spots from last year's eight, followed by Burnet Duckworth & Palmer, which was 11, up from 14 last year. The biggest decline was McCarthys, down four spots. Davies made the list this year for the first time, ranking 15, tied with McMillan. Heenan Blaikie also made the list at 14, down two spots from last year, showing the staying power of a brand. This is the third year Acritas has pub- lished the survey and the fifth it has gath- ered Canadian information prompting Duffy to make some observations. First, Canada has a strong group of leading legal brands, compared to other coun- tries, where there are a few established brands and many others competing for recognition. Second, she said, "the 'brandscape' has changed quite dramatically" with mergers. For example, she said Norton Rose "has done a sterling job transferring from the Ogilvy Renault and Macleod Dixon names" because it "invested heav- ily" in the brand. Another interesting development is among the Canadian-based survey par- ticipants. In 2008, 51 per cent of organi- zations said they had a need for interna- tional legal advice. Today, that number is 69 per cent. Also, despite attempts by legal departments to cut their roster of law firms, the number of firms used is actually rising. In 2008 it was eight and today it is 10. There is also a growing separation between the top recognized brands and other law firms. For example, Blakes, Norton Rose, and Stikes all scored 87 or higher. Two years ago, four firms scored in the 90-range. Also, the middle seg- ment seems to be hollowing out. For example, the score between seventh place Torys and eighth place Gowlings drops off more than in past years. "We are starting to see tiers emerge in the top 10," noted Duffy. Obviously, the survey captures only a portion of legal decision-makers, but it provides a glimpse into who is moving up and down. It also shows who isn't making a mark. Firms like Davis LLP or Miller Thomson are notably absent from the top 15, despite having a national network of offices, and placing in the top 15 in 2012. Apparently, some firms have more work to do when it comes to building their brand. And if you think your law firm is building a premium brand, here's some sobering thought from investment guru Warren Buffett: "Your premium brand had better be delivering some- thing special, or it's not going to get the business." Jim Middlemiss is a principal at WebNewsManagement.com. You can follow him on Twitter @JimMiddlemiss.

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