Page 22 - The Handbook - Law Firm Networks 2018
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The Handbook: Law Firm Networks
corporations, which they are not. Many of the large accounting firms — beyond the Big 4, BDO
International, and Grant Thornton International — are at Level 4 or seeking to become Level 4 networks. If
vereins in the legal profession are networks, they aspire to be Level 4 networks with full integration of their
members.
The following table illustrates the distinguishing elements of each level.
Exhibit 4 – Summary Four Levels of Network Development
Common Level 1 Level 2 Level 3 Level 4
description
Examples Club Network or Association Network Accounting Network
Club de Abogados Law Verein
Relative size of Mixed PRAC, USLFG, and American TerraLex, Lex Mundi, Big 4. Law firm
firms Counsel Association GGI, ILN, Multilaw, vereins (Baker
No MSI, WSG, TAGlaw McKenzie, DLA)
Website No Some with large firms like Mixed (SCGl, TerraLex), Large firms in each
No – part-time help PRAC, World Law Group. members all among country in the case of
Budget No Most with small and midsize largest (Lex Mundi and accounting. In law
Staff firms WSG); midsize (Meritas) anchor firms are large
Publications Semi-annual but many members are
meetings Yes – directory Yes – directory, smaller.
Meetings No interactive, member- Yes – directory,
No Yes – up to $500,000 focused interactive, third-party
Professional Yes – usually 1 or 2 Yes – up to $8 mm focused
education No Brochure Yes – 6 to 30 Yes – $8+ mm
Membership is No Brochure and member Yes – more than 30+
strategic Annual meeting and regional publications. Publications Brochure and member
Corporation No meetings directed to possible publications
clients
Board of directors No Annual meetings, Annual meetings,
regional meetings, regional meetings,
Executive No – focus is exclusively or practice group meetings practice group
committee primarily internal to network meetings
Staff Yes – can be quite Yes
No extensive82
Board of General Yes – internal and Yes – very strategic
Counsel Advisors Yes – may be called advisory external marketing for each firm
board from membership. functions
Board memberships do not Yes – independent Yes – potentially
change. corporation owned by multiple corporations
No members.
Yes – succession plan Yes
Yes Yes
No Yes – staff operates at the Yes – staff responsible Yes – staff responsible
requests of members. for all operations. CEO for all operations.
leads. CEO leads.
No No Some Yes
Financial Accounting Standards Board to define the Generally Accepted Accounting Principles (GAAP) with the Public Company Accounting
Oversight Board to develop audit requirements, and with the International Accounting Standards Board to promote International Financial Reporting
Standards.
82 Joanne Harris, Law Firm Networks: Distance Learning, THE LAWYER, Sept. 2, 2013, www.thelawyer.com/news/people/education-and-training/law-
firm-networks-distance-learning/3008615.article.
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corporations, which they are not. Many of the large accounting firms — beyond the Big 4, BDO
International, and Grant Thornton International — are at Level 4 or seeking to become Level 4 networks. If
vereins in the legal profession are networks, they aspire to be Level 4 networks with full integration of their
members.
The following table illustrates the distinguishing elements of each level.
Exhibit 4 – Summary Four Levels of Network Development
Common Level 1 Level 2 Level 3 Level 4
description
Examples Club Network or Association Network Accounting Network
Club de Abogados Law Verein
Relative size of Mixed PRAC, USLFG, and American TerraLex, Lex Mundi, Big 4. Law firm
firms Counsel Association GGI, ILN, Multilaw, vereins (Baker
No MSI, WSG, TAGlaw McKenzie, DLA)
Website No Some with large firms like Mixed (SCGl, TerraLex), Large firms in each
No – part-time help PRAC, World Law Group. members all among country in the case of
Budget No Most with small and midsize largest (Lex Mundi and accounting. In law
Staff firms WSG); midsize (Meritas) anchor firms are large
Publications Semi-annual but many members are
meetings Yes – directory Yes – directory, smaller.
Meetings No interactive, member- Yes – directory,
No Yes – up to $500,000 focused interactive, third-party
Professional Yes – usually 1 or 2 Yes – up to $8 mm focused
education No Brochure Yes – 6 to 30 Yes – $8+ mm
Membership is No Brochure and member Yes – more than 30+
strategic Annual meeting and regional publications. Publications Brochure and member
Corporation No meetings directed to possible publications
clients
Board of directors No Annual meetings, Annual meetings,
regional meetings, regional meetings,
Executive No – focus is exclusively or practice group meetings practice group
committee primarily internal to network meetings
Staff Yes – can be quite Yes
No extensive82
Board of General Yes – internal and Yes – very strategic
Counsel Advisors Yes – may be called advisory external marketing for each firm
board from membership. functions
Board memberships do not Yes – independent Yes – potentially
change. corporation owned by multiple corporations
No members.
Yes – succession plan Yes
Yes Yes
No Yes – staff operates at the Yes – staff responsible Yes – staff responsible
requests of members. for all operations. CEO for all operations.
leads. CEO leads.
No No Some Yes
Financial Accounting Standards Board to define the Generally Accepted Accounting Principles (GAAP) with the Public Company Accounting
Oversight Board to develop audit requirements, and with the International Accounting Standards Board to promote International Financial Reporting
Standards.
82 Joanne Harris, Law Firm Networks: Distance Learning, THE LAWYER, Sept. 2, 2013, www.thelawyer.com/news/people/education-and-training/law-
firm-networks-distance-learning/3008615.article.
-9-
