Page 128 - The Handbook - Legal and Accounting Networks 81
P. 128
Law and Accounting Networks and Associations
without real integration because of residual fiscal and significant operational autonomy. The reality is that
for the first 5-10 years, the firms will not be organically integrated in any meaningful way except by a
common brand and common systems, policies and procedures.
One of the vereins, is known for proclaiming itself to be the largest law firm in the world. If it is a network,
it would objectively be characterized as mid-size, though it would also be recognized as one of the most
integrated and operationally well-funded networks. The brand obscures the exact status of each of their
operations.413
These claims to be the largest law firm in the world have significant marketing value that results in many
hundreds of published articles. Under current media treatment, if a verein were categorized as a network, it
would not be ranked and recognized. (This is not the case in accounting where networks and associations
are the models.) Even though other networks are many times larger, and their members provide more legal
services, the do not get the recognition as providing more than 20% of all legal services on earth.
Summary: There is no doubt that legal vereins are world-class organizations. The Big 4 accounting and
consulting organizations proudly state they are networks. In the legal profession the term verein obscures
the fact that members are independent. The preferable term is law firm. One verein has self-conferred
themselves as the “polycentric law firm”. There are implications as the firm has found out related to
conflicts of interest.
This characterization as a firm serves the marketing objective of the organization. It plays into the traditional
elements of a firm, assuring various ranking. However, it confuses the true nature of the organization.
Recruitment becomes a “merger”. The merged firm remains independent financially and operationally just
like in a network.
Transparency is in the best interests of the clients and the legal profession. This can be easily accomplished
using the accounting professions approach to rank all structures and models that facilitate services. If this
is the case, clearly the network would be recognized for their achievements of providing legal services to
virtually every significant business on earth.
Over the last several years, these characterizations has been questioned by many authors. Readers should
judge for themselves. The bibliography sets out virtually all of the articles and videos that have addressed
this subject over the last several years. Table 1 is a summary.
413 See DENTONS, GLOBAL PRESENCE, available at http://www.dentons.com/en/global-presence.aspx.
116
without real integration because of residual fiscal and significant operational autonomy. The reality is that
for the first 5-10 years, the firms will not be organically integrated in any meaningful way except by a
common brand and common systems, policies and procedures.
One of the vereins, is known for proclaiming itself to be the largest law firm in the world. If it is a network,
it would objectively be characterized as mid-size, though it would also be recognized as one of the most
integrated and operationally well-funded networks. The brand obscures the exact status of each of their
operations.413
These claims to be the largest law firm in the world have significant marketing value that results in many
hundreds of published articles. Under current media treatment, if a verein were categorized as a network, it
would not be ranked and recognized. (This is not the case in accounting where networks and associations
are the models.) Even though other networks are many times larger, and their members provide more legal
services, the do not get the recognition as providing more than 20% of all legal services on earth.
Summary: There is no doubt that legal vereins are world-class organizations. The Big 4 accounting and
consulting organizations proudly state they are networks. In the legal profession the term verein obscures
the fact that members are independent. The preferable term is law firm. One verein has self-conferred
themselves as the “polycentric law firm”. There are implications as the firm has found out related to
conflicts of interest.
This characterization as a firm serves the marketing objective of the organization. It plays into the traditional
elements of a firm, assuring various ranking. However, it confuses the true nature of the organization.
Recruitment becomes a “merger”. The merged firm remains independent financially and operationally just
like in a network.
Transparency is in the best interests of the clients and the legal profession. This can be easily accomplished
using the accounting professions approach to rank all structures and models that facilitate services. If this
is the case, clearly the network would be recognized for their achievements of providing legal services to
virtually every significant business on earth.
Over the last several years, these characterizations has been questioned by many authors. Readers should
judge for themselves. The bibliography sets out virtually all of the articles and videos that have addressed
this subject over the last several years. Table 1 is a summary.
413 See DENTONS, GLOBAL PRESENCE, available at http://www.dentons.com/en/global-presence.aspx.
116
