Page 71 - The Handbook - Legal and Accounting Networks 81
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Law and Accounting Networks and Associations
(3) When members of a network see that their network is recognized, this enhances their image. If the
network wins an award, it will be prominently featured on the website.292
(4) Members of the network are hired by large firms that do not have offices in a country but are
seeking vetted firms for their clients. Being members of a recognized network that does not compete
with these firms enhances the chances of selection.
(5) Being well known externally assists in recruiting members to the network.
(6) An external brand can also create cooperative agreements with other associations, such as bar
associations, which require the perception of the legitimacy of the network.
Professional services networks need recognition in their own right, even though they do not perform services
for clients. The network is primarily responsible for creating the external brand. The network holds its own
copyright(s) and trademark(s). As part of membership, the members may be officially licensed to use the
intellectual property. The network is directly responsible for advertisements and all other forms of marketing.
Creating an external brand increases the internal awareness when members see the network in context.
At the point where the network is successful, the members may want to market the network to their clients and
other organizations. Ultimately, this extends to marketing the network to both the profession and the public.
At each level there are many considerations.
Accounting networks regularly are mentioned in the accounting press. Annual detailed comparison is made
regionally, nationally, internationally and globally among the accounting networks. The legal networks cannot
distinguish themselves from one another in the media. This is evident in many articles where the leading
networks are not all represented.293 The networks are at the mercy of the media or their members to establish
the brand.294 Advertising in the media is not necessarily for the client but for the members of the network to
see the network.
The professional services media in the legal profession is essentially controlled by a number of publishers,
each of which has carved out its niche. The publishers may focus on a practice area (such as the financial
market), a type of profession, or a market within the profession. Some are new sources of information for the
profession. Others may be directories, ranking agencies, and/or bar or other professional associations. There
are also now online services, such as the International Law Office. Together they control the medium for
advertising networks.
These publications offer an extensive readership to law and accounting firms and networks. In the legal
profession the focus is on the 100,295 250,296 500,297 and 1,000298 largest firms. Law firms that advertise and
promote themselves pay a lot of money. A number of the publications also expect advertisements if a firm or
network is referred to in an article.
Technology has not radically changed the external marketing for networks. There does not seem to be any
organized program for advertising a specific network or networks in general. This is a significant missed
292 European Law Firm Network of the Year, LEX MUNDI, www.lexmundi.org.
293 Joining the Alliance, ASIAN LEGAL BUSINESS (July 2011).
294 The legal media has distinguished between the traditional hierarchical law firm and the network. The law firm gets virtually all attention. Networks
may have to pay to be included in lists of law networks. See CHAMBERS AND PARTNERS, www.chambersandpartners.com/15649/2433/editorial/2/4; see
also Network Directory, LEGAL 500, www.legal500.com/assets/pages/networks/network_listings.html.
295 AM LAW 100, www.law.com/jsp/tal/PubArticleTAL.jsp?id=1202489912232&slreturn=1&hbxlogin=1.
296 NLJ JOURNAL 250, www.law.com/jsp/nlj/PubArticleNLJ.jsp?id=1202474471097.
297 LEGAL 500, www.legal500.com/.
298 IFLR 1,000, www.iflr1000.com/.
59
(3) When members of a network see that their network is recognized, this enhances their image. If the
network wins an award, it will be prominently featured on the website.292
(4) Members of the network are hired by large firms that do not have offices in a country but are
seeking vetted firms for their clients. Being members of a recognized network that does not compete
with these firms enhances the chances of selection.
(5) Being well known externally assists in recruiting members to the network.
(6) An external brand can also create cooperative agreements with other associations, such as bar
associations, which require the perception of the legitimacy of the network.
Professional services networks need recognition in their own right, even though they do not perform services
for clients. The network is primarily responsible for creating the external brand. The network holds its own
copyright(s) and trademark(s). As part of membership, the members may be officially licensed to use the
intellectual property. The network is directly responsible for advertisements and all other forms of marketing.
Creating an external brand increases the internal awareness when members see the network in context.
At the point where the network is successful, the members may want to market the network to their clients and
other organizations. Ultimately, this extends to marketing the network to both the profession and the public.
At each level there are many considerations.
Accounting networks regularly are mentioned in the accounting press. Annual detailed comparison is made
regionally, nationally, internationally and globally among the accounting networks. The legal networks cannot
distinguish themselves from one another in the media. This is evident in many articles where the leading
networks are not all represented.293 The networks are at the mercy of the media or their members to establish
the brand.294 Advertising in the media is not necessarily for the client but for the members of the network to
see the network.
The professional services media in the legal profession is essentially controlled by a number of publishers,
each of which has carved out its niche. The publishers may focus on a practice area (such as the financial
market), a type of profession, or a market within the profession. Some are new sources of information for the
profession. Others may be directories, ranking agencies, and/or bar or other professional associations. There
are also now online services, such as the International Law Office. Together they control the medium for
advertising networks.
These publications offer an extensive readership to law and accounting firms and networks. In the legal
profession the focus is on the 100,295 250,296 500,297 and 1,000298 largest firms. Law firms that advertise and
promote themselves pay a lot of money. A number of the publications also expect advertisements if a firm or
network is referred to in an article.
Technology has not radically changed the external marketing for networks. There does not seem to be any
organized program for advertising a specific network or networks in general. This is a significant missed
292 European Law Firm Network of the Year, LEX MUNDI, www.lexmundi.org.
293 Joining the Alliance, ASIAN LEGAL BUSINESS (July 2011).
294 The legal media has distinguished between the traditional hierarchical law firm and the network. The law firm gets virtually all attention. Networks
may have to pay to be included in lists of law networks. See CHAMBERS AND PARTNERS, www.chambersandpartners.com/15649/2433/editorial/2/4; see
also Network Directory, LEGAL 500, www.legal500.com/assets/pages/networks/network_listings.html.
295 AM LAW 100, www.law.com/jsp/tal/PubArticleTAL.jsp?id=1202489912232&slreturn=1&hbxlogin=1.
296 NLJ JOURNAL 250, www.law.com/jsp/nlj/PubArticleNLJ.jsp?id=1202474471097.
297 LEGAL 500, www.legal500.com/.
298 IFLR 1,000, www.iflr1000.com/.
59
