Law firm

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A law firm is a business entity formed by one or more lawyers to engage in the practice
of law. The primary service rendered by a law firm is to advise clients (individuals or
corporations) about their legal rights and responsibilities, and to represent clients in civil
or criminal cases, business transactions, and other matters in which legal advice and
other assistance are sought.

Contents
[hide]

1 Arrangements
o 1.1 Restrictions on ownership interests
o 1.2 Multinational law firms

2 Structure and promotion

o 2.1 Partnership

2.1.1 Termination of one's partnership

o 2.2 "Of counsel" role

o 2.3 Mergers and acquisitions between law firms

3 Size
o 3.1 Anglo-American development

3.1.1 Boutique law firms

3.1.2 Virtual Law Firms

3.1.3 "Megafirms" or Biglaw

o 3.2 "Full service" firms

o 3.3 Worldwide
o 3.4 Recession

4 Salaries
o 4.1 United States
o 4.2 United Kingdom
o 4.3 Australia
o 4.4 Hong Kong
o 4.5 Singapore
o 4.6 India

5 Location

6 Rankings

7 In popular culture

8 See also

9 References

10 External links

Arrangements[edit]
Law firms are organized in a variety of ways, depending on the jurisdiction in which the
firm practices. Common arrangements include:

Sole proprietorship, in which the attorney is the law firm and is responsible for
all profit, loss and liability;

General partnership, in which all the attorneys who are members of the firm
share ownership, profits and liabilities;

Professional corporations, which issue stock to the attorneys in a fashion similar

to that of a business corporation;

Limited liability company, in which the attorney-owners are called "members"

but are not directly liable to third party creditors of the law firm (prohibited as
against public policy in many jurisdictions but allowed in others in the form of a
"Professional Limited Liability Company" or "PLLC");

Professional association, which operates similarly to a professional corporation

or a limited liability company;

Limited liability partnership (LLP), in which the attorney-owners are partners

with one another, but no partner is liable to any creditor of the law firm nor is
any partner liable for any negligence on the part of any other partner. The LLP is
taxed as a partnership while enjoying the liability protection of a corporation.

Restrictions on ownership interests[edit]

In many countries, including the United States, there is a rule that only lawyers may
have an ownership interest in, or be managers of, a law firm. Thus, law firms cannot
quickly raise capital through initial public offerings on the stock market, like most
corporations. They must either raise capital through additional capital contributions
from existing or additional equity partners, or must take on debt, usually in the form of
a line of credit secured by their accounts receivable.
In the United States this complete bar to nonlawyer ownership has been codified by the
American Bar Association as paragraph (d) of Rule 5.4 of the Model Rules of
Professional Conduct and has been adopted in one form or another in all U.S.
jurisdictions,[1][2] except the District of Columbia.[3] However, D.C.'s rule is narrowly
tailored to allow equity ownership only by those nonlawyer partners who actively assist
the firm's lawyers in providing legal services, and does not allow for the sale of
ownership shares to mere passive nonlawyer investors. The U.K. had a similar rule
barring nonlawyer ownership, but under reforms implemented by the Legal Services
Act of 2007 law firms have been able to take on a limited number of non-lawyer
partners and lawyers have been allowed to enter into a wide variety of business
relationships with non-lawyers and non-lawyer owned businesses. This has allowed, for
example, grocery stores, banks and community organizations to hire lawyers to provide
in-store and online basic legal services to customers.
The rule is controversial. It is justified by many in the legal profession, notably the
American Bar Association which rejected a proposal to change the rule in its Ethics
20/20 reforms, as necessary to prevent conflicts of interest. In the adversarial system of
justice, a lawyer has a duty to be a zealous and loyal advocate on behalf of the client,
and also has a duty to not bill the client excessively. Also, as an officer of the court, a
lawyer has a duty to be honest and to not file frivolous cases or raise frivolous defenses.
Many in the legal profession believe that a lawyer working as a shareholder-employee
of a publicly traded law firm might be tempted to evaluate decisions in terms of their
effect on the stock price and the shareholders, which would directly conflict with the
lawyer's duties to the client and to the courts. Critics of the rule, however, believe that it
is an inappropriate way of protecting clients' interests and that it severely limits the
potential for the innovation of less costly and higher quality legal services that could
benefit both ordinary consumers and businesses.[4]

Multinational law firms[edit]

Law firms operating in multiple countries often have complex structures involving
multiple partnerships, particularly in jurisdictions such as Hong Kong and Japan which
restrict partnerships between local and foreign lawyers. One structure largely unique to
large multinational law firms is the Swiss Verein, pioneered by Baker & McKenzie in
2004, in which multiple national or regional partnerships form an association in which
they share branding, administrative functions and various operating costs, but maintain

separate revenue pools and often separate partner compensation structures. Other
multinational law firms operate as single worldwide partnerships, such as British or
American limited liability partnerships, in which partners also participate in local
operating entities in various countries as required by local regulations.[5]

Structure and promotion[edit]

Partnership[edit]
Law firms are typically organized around partners, who are joint owners and business
directors of the legal operation; associates, who are employees of the firm with the
prospect of becoming partners; and a variety of staff employees, providing paralegal,
clerical, and other support services. An associate may have to wait as long as 11 years
before the decision is made as to whether the associate "makes partner." Many law firms
have an "up or out policy" (pioneered around 1900 by partner Paul Cravath of Cravath,
Swaine & Moore):[6] associates who do not make partner are required to resign and join
another firm, go it alone as a solo practitioner, go to work in-house in a corporate legal
department, or change professions (burnout rates are very high in law).[7]
Making partner is very prestigious at large or midsized firms, due to the competition
that naturally results from higher associate-to-partner ratios. Such firms may take out
advertisements in professional publications to announce who has made partner.
Traditionally, partners shared directly in the profits of the firm, after paying salaried
employees, the landlord, and the usual costs of furniture, office supplies, and books for
the law library (or a database subscription). Partners in a limited liability partnership can
largely operate autonomously with regard to cultivating new business and servicing
existing clients within their book of business. However, many large law firms have
moved to a two-tiered partnership model, with equity and non-equity partners. Equity
partners are considered to have ownership stakes in the firm, and share in the profits
(and losses) of the firm. Non-equity partners are generally paid a fixed salary (albeit
much higher than associates), and they are often granted certain limited voting rights
with respect to firm operations. The oldest continuing partnership in the United States is
that of Cadwalader, Wickersham & Taft, founded in 1792 in New York City. The oldest
law firm in continuous practice in the United States is Rawle & Henderson LLP,
founded in 1783 in Philadelphia.
Termination of one's partnership[edit]
It is rare for a partner to be forced out by fellow partners, although that can happen if
the partner commits a crime or malpractice, experiences disruptive mental illness, or is
not contributing to the firm's overall profitability. However, some large firms have
written into their partnership agreement a forced retirement age for partners, which can
be anywhere from age 65 on up. In contrast, most corporate executives are at much
higher risk of being fired, even when the underlying cause is not directly their fault,
such as a drop in the company's stock price. Worldwide, partner retirement ages can be
difficult to estimate and often vary widely, particularly because in many countries it is
illegal to mandate a retirement age.[8]

"Of counsel" role[edit]

In the United States, Canada and Japan, many large and midsize firms have attorneys
with the job title of "counsel", "special counsel" or "of counsel." As the Supreme Court
of California has noted, the title has acquired several related but distinct definitions
which do not easily fit into the traditional partner-associate structure.[9] These attorneys
are people who work for the firm, like associates, although some firms have an
independent contractor relationship with their counsel. But unlike associates, and more
like partners, they generally have their own clients, manage their own cases, and
supervise associates. These relationships are structured to allow more senior attorneys to
share in the resources and "brand name" of the firm without being a part of management
or profit sharing decisions. The title is often seen among former associates who do not
make partner, or who are laterally recruited to other firms, or who work as in-house
counsel and then return to the big firm environment. At some firms, the title "of
counsel" is given to retired partners who maintain ties to the firm. Sometimes "of
counsel" refers to senior or experienced attorneys, such as foreign legal consultants,
with specialized experience in particular aspects of law and practice. They are hired as
independent contractors by large firms as a special arrangement, which may lead to
profitable results for the partnership. In certain situations "of counsel" could be
considered to be a transitional status in the firm.

Mergers and acquisitions between law firms[edit]

Mergers, acquisitions, division and reorganizations occur between law firms as in other
businesses. The specific books of business and specialization of attorneys as well as the
professional ethical structures surrounding conflict of interest can lead to firms splitting
up to pursue different clients or practices, or merging or recruiting experienced
attorneys to acquire new clients or practice areas. Results often vary between firms
experiencing such transitions. Firms that gain new practice areas or departments through
recruiting or mergers that are more complex and demanding (and typically more
profitable) may see the focus, organization and resources of the firm shift dramatically
towards those new departments. Conversely, firms may be merged among experienced
attorneys as partners for purposes of shared financing and resources, while the different
departments and practice areas within the new firm retain a significant degree of
autonomy.
Law firm mergers tend to be assortative, in that only law firms operating in similar legal
systems are likely to merge. For example, U.S. firms will often merge with English law
firms, or law firms from other common law jurisdictions. A notable exception is King &
Wood Mallesons, a multinational law firm that is the result of a merger between an
Australian law firm and a Chinese law firm.
Though mergers are more common among better economies, slowing down a bit during
recessions, big firms sometimes use mergers as a strategy to boost revenue during a
recession. Nevertheless, data from Altman Weil indicates that only four firms merged in
the first half of 2013, as compared to eight in the same period in 2012, and this was
taken by them as indicating a dip in morale regarding the legal economy and the amount
of demand.[10]

Size[edit]

Law firms can vary widely in size. The smallest law firms are lawyers practicing alone,
who form the vast majority of lawyers in nearly all countries.[11][12]
Smaller firms tend to focus on particular specialties of the law (e.g. patent law, labor
law, tax law, criminal defense, personal injury); larger firms may be composed of
several specialized practice groups, allowing the firm to diversify their client base and
market, and to offer a variety of services to their clients.[13]
Large law firms usually have separate litigation and transactional departments. The
transactional department advises clients and handles transactional legal work, such as
drafting contracts, handling necessary legal applications and filings, and evaluating and
ensuring compliance with relevant law; while the litigation department represents
clients in court and handles necessary matters (such as discovery and motions filed with
the court) throughout the process of litigation.

Anglo-American development[edit]
Boutique law firms[edit]
Lawyers in small cities and towns may still have old-fashioned general practices, but
most urban lawyers tend to be highly specialized due to the overwhelming complexity
of the law today.[14] Thus, some small firms in the cities specialize in practicing only one
kind of law (like employment, antitrust, intellectual property, telecommunications or
aviation) and are called boutique law firms.[15]
Virtual Law Firms[edit]
A 21st Century development has been the appearance of the virtual law firm, a firm with
a virtual business address but no brick & mortar office location open to the public, using
modern telecommunications to operate from remote locations and provide its services to
international clients, avoiding the costs of maintaining a physical premises with lower
overheads than traditional law firms. This lower cost structure allows virtual law firms
to bill clients on a contingency basis rather than by billable hours paid in advance by
retainer.[16]
"Megafirms" or Biglaw[edit]
The largest law firms have more than 1,000 lawyers. These firms, often colloquially
called "megafirms" or "biglaw", generally have offices on several continents, bill
US$750 per hour or higher, and have a high ratio of support staff per attorney.[17][18]
Because of the localized and regional nature of firms, the relative size of a firm varies.[19]

"Full service" firms[edit]

The largest firms like to call themselves "Big-Law" firms because they have sections
specializing on each category of legal work, which in the U.S. usually means mergers
and acquisitions transactions,[20] banking, and certain types of high-stakes corporate
litigation. These firms rarely do plaintiffs' personal injury work. However the largest
law firms are not very large compared to other major businesses (or even other
professional services firms). In 2008, the largest law firm in the world was the British

firm Clifford Chance, which had revenue of over US$2 billion. This can be compared
with $404 billion for the world's largest firm by turnover Exxon Mobil and $28 billion
for the largest professional services firm Deloitte.[21]

Worldwide[edit]
The largest law firms in the world are headquartered primarily in the United Kingdom
and the United States. However, large firms of more than 1,000 lawyers are also found
in Australia (Minter Ellison (1,500 attorneys), China (Dacheng 2,100 attorneys) and
Spain (Garrigues, 2,100 attorneys). The American system of licensing attorneys on a
state-by-state basis, the tradition of having a headquarters in a single U.S. state and a
close focus on profits per partner (as opposed to sheer scale) has to date limited the size
of most American law firms. Thus, whilst the most profitable law firms in the world
remain in New York, four of the six largest firms in the world are based in London in
the United Kingdom.[22] But the huge size of the United States results in a larger number
of large firms overall a 2003 survey found that the United States alone had 901 law
firms with more than 50 lawyers, while there were only 58 such firms in Canada, 44 in
Great Britain, 14 in France, and 9 in Germany.[23] There is an increasing tendency
towards globalisation of law firms.
Due to their size, the U.S.- and U.K.-based law firms are the most prestigious and
powerful in the world, and they tend to dominate the international market for legal
services. A 2007 research paper noted that firms from other countries merely pick up
their leftovers: "[M]uch of the competition is relatively orderly whereby predominantly
Australian, New Zealand, and Canadian firms compete for business not required by
English or American law firms."[24]

Recession[edit]
As a result of the U.S. recession in 2008 and 2009 many U.S. law firms have downsized
staff considerably, and some have closed. The Denver Post reported that major law
firms have cut more than 10,000 jobs nationwide in 2009.[25] On February 12, 2009,
Bloomberg reported that 700 jobs were cut that one day at law firms across the country.
[26]
Among the firms closed included Heller Ehrman, a San Francisco-based firm
established in 1890[27] and Halliwells of the UK.[28] Among those that survived, law firm
layoffs became so common that trade publications like American Lawyer produced an
ongoing Layoff List of the law firms nationwide that cut jobs.[29]

Salaries[edit]
Law firm salary structures typically depend on firm size. Small-firm salaries vary
widely within countries and from one country to the next, and are not often publicly
available. Because most countries do not have unified legal professions, there are often
significant disparities in income among the various legal professions within a particular
country. Finally, the availability of salary data also depends upon the existence of
journalists and sociologists able to collect and analyze such data. The Association of
Legal Administrators (ALA) produces an annual study on Law Firm Compensation and
Benefits, and can be found at http://alanet.org/compsurvey

United States[edit]
The U.S. is presently the only country with enough lawyers, as well as journalists and
sociologists who specialize in studying them, to have widely available data on salary
structures at major law firms.
In 2006, median salaries of new graduates ranged from US$50,000 per year in small
firms (2 to 10 attorneys) to US$160,000 per year in very large firms (more than 501
attorneys). The distribution of these salaries was highly bimodal, with the majority of
new lawyers earning at either the high end or the low end of the scale, and a median
salary of US$62,000.[30] Since 2007, the $160,000 starting salary has remained the norm
among large firms in New York City, Chicago, Los Angeles, Washington DC, Boston,
and other major markets, but outside of these cities the median starting salary is slightly
less. As of 2013, $145,000 was slightly more common than $160,000 among large firms
in San Francisco, while cities in the American South had a typical starting salary of
$145,000, Seattle had a typical starting salary of $120,000, and Minneapolis, St. Louis,
and Pittsburgh each had a typical starting salary of $110,000.[31]
The traditional salary model for law firm associates is lockstep compensation, in which
associate salaries go up by a fixed amount each year from the associate's law school
graduation. However, many firms have switched to a level-based compensation system,
in which associates are divided into three (or sometimes four) levels based on skills
mastered. In 2013, the median salaries for the three associate levels were $152,500,
$185,000 and $216,000 among large firms (more than 700 lawyers), and $122,000,
$143,500 and $160,000 among all firms.[31]
Some prominent law firms, like Goodwin Procter and Paul Hastings, give generous
signing bonuses (e.g., $20k)[32][33] to incoming first-year associates who hold JD/MBA
degrees.
Another way law firm associates increase their earnings and /or improve their
employment conditions is through a lateral move to another law firm. A recent survey
by LexisNexis, indicated that over 95% of law firms consulted intended to hire lateral
attorneys within the next two years.[34] Though the success for both the attorney and the
law firms in lateral hiring has been questioned. The National Law Review reported that
the cost of recruiting, compensating, and integrating a lateral attorney can be upwards of
$600,000 and that 60% of lateral attorney hires fail to thrive at their new law firms.[35]

United Kingdom[edit]
British firms typically practise lockstep compensation. In London, entry-level solicitor
salaries (NQ - Newly Qualified) are typically: (i) 38,000-54,500 at niche and boutique
firms (ii) 61,000-65,500 at national firms (iii) 65,000-105,000 at international firms.
A senior associate with six years' experience may make 68,000-120,000 at a national
firm or upwards of 160,000 at a global firm. Salary levels are lower in areas outside
London.[36]

Australia[edit]

Australia also has regional variation in lawyer salaries, with the highest salary levels in
Western Australia. At top-tier firms, associate salaries start in the $62,000 to $82,000
range and salaried partners may make anywhere from $200,000 to more than $350,000.
At smaller firms, starting salaries may be as low as $41,000.[37]

Hong Kong[edit]
Newly qualified associates at leading firms in Hong Kong typically make HK$840,000
to HK$948,000, with partners in the HK$1.6 million to HK$4 million+ range; many
firms pay New York salaries with cost of living adjustments.[38]

Singapore[edit]
At local firms in Singapore, associates in their first three years typically make $60,000
to $100,000, while midlevel (47 years) associates make $110,000 to $180,000 and
senior (8+ years) associates make $160,000 or more. International firms pay
significantly more, with senior associates often making more than $250,000.[39]

India[edit]
There is more information available for entry level lawyers. First year lawyers earn
anywhere between INR 25,000 to INR 1,10,000 a month. Tier 1 law firms provide the
best pay package, of about INR 15,00,000 a year.[40]There is wide difference in the salary
range in big cities like Delhi and Mumbai as opposed to other cities like Hyderabad and
Kolkata. [41]

Location[edit]
Most law firms are located in office buildings of various sizes, ranging from modest
one-story buildings to some of the tallest skyscrapers in the world (though only in 2004,
Paul Hastings was the first firm to put its name on a skyscraper).
In late 2001, it was widely publicized that John C. Dearie's personal injury plaintiffs'
firm in the state of New York has been experimenting with bus-sized "mobile law
offices."[42] The firm insists that it does not "chase ambulances". It claims that a law
office on wheels is more convenient for personal injury plaintiffs, who are often
recovering from severe injuries and thus find it difficult to travel far from their homes
for an intake interview.

Rankings[edit]
As legal practice is adversarial, law firm rankings are widely relied on by prospective
associates, lateral hires and legal clients. Substantive rankings typically cover practice
areas such as The American Lawyer's Corporate Scorecard[43] and Top IP Firms. Work
place rankings are directed toward lawyers or law students, and cover such topics as
quality of life, hours, family friendliness and salaries.[44] Finally, statistical rankings
generally cover profit-related data such as profits per partner and revenue per lawyer.[45]

In an October 2007 press conference reported in The Wall Street Journal and The New
York Times, the law student group Building a Better Legal Profession released its first
annual ranking of top law firms by average billable hours, pro bono participation, and
demographic diversity.[46][47] Most notably, the report ranked the percentages of women,
African-Americans, Hispanics, Asian-Americans, and gays & lesbians at America's top
law firms. The group has sent the information to top law schools around the country,
encouraging students to take this demographic data into account when choosing where
to work after graduation.[48] As more students choose where to work based on the firms'
diversity rankings, firms face an increasing market pressure in order to attract top
recruits.[49]

In popular culture[edit]
Main articles: Legal drama and Law firms in fiction
A number of television shows have revolved around relationships occurring in fictional
law firms, highlighting both public fascination with and misperception of the lives of
lawyers in high-powered settings.

Skadden, Arps, Slate, Meagher & Flom

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Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates

Cond Nast Building

Headquarters

New York City[1]

United States

No. of offices

23

No. of attorneys 1,886 [2]

No. of
employees

4,500 (estimate)

Major practice Mergers and acquisitions, litigation and

areas

arbitration, corporate finance, corporate

restructuring, securities law, banking,

project finance, energy and infrastructure,
antitrust, tax and intellectual property,
among others[3]
Eric J. Friedman[4]
Key people

Executive partner

Earle Yaffa[5]
Managing director

Revenue
Date founded

Founder

US$ 2.17 billion (2011)[6]

April 1, 1948
Marshall Skadden, John Slate, and Les
Arps

Company type Limited liability partnership

Website
www.skadden.com

Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates (often shortened to
Skadden Arps; Skadden; or SASM&F), founded in 1948, is a law firm based in New
York City. With nearly 2,000 attorneys, it is one of the highest-grossing law firms in the
world.[7] Forbes magazine called Skadden "Wall Street's most powerful law firm," and
the firm has been named as America's best Corporate Law firm every year since 2001.[8]
[9]

Skadden's world headquarters in the Cond Nast Building, Times Square, New York

Contents
[hide]

1 Rankings

2 Key people

3 History

4 Locations

5 Skadden Fellowship Foundation

6 Notable alumni

7 Political contributions

8 Further reading

9 References

10 External links

Rankings[edit]
In 2014, Skadden was the fourth largest law firm in the U.S. by revenue;[10] in 2010 it
was the second-largest in the world by revenue.[7][11] Skadden had about 1,886[2] attorneys
in 23 offices in 2011.[12] The total number of employees at the firm is nearly 4,200.
Measured by the number of attorneys, Skadden is the second-largest law firm in the

state of New York, the sixth largest in the United States.[2] In 2010, the National Law
Journal ranked Skadden 4th in its list of the 250 largest law firms in the United States.
[citation needed]
In 1995, Forbes's Largest Private Companies ranked Skadden as 335th[13] on the
list of the largest private U.S. companies by revenue. By 2003 Skadden had risen to
194th[14] before falling back to 213th[15] in 2010.
According to a branche-internal survey by Vault.com in 2015, Skadden is the third most
prestigious law firm to work for in the United States,[16] and according to the advisory
firm FTI Consulting, Skadden has been named as the America's best Corporate Law
firm in 2013 (a position held since 2001).[8]

Key people[edit]
As of February 2011, there are 432 partners at Skadden.[17] As of 2015, there are 326 US
partners.[18] Unlike some firms that have introduced two-tier partnerships with equity and
non-equity partners, Skadden maintains a one-tier partnership, in which all partners are
equity partners and share ownership of the firm.[19] Among the more notable partners and
Counsel are:

Greg Craig, former White House Counsel to President Barack Obama, heads the
firm's global policy and litigation strategy group.

Judith Kaye, former Chief Judge of the State of New York, is of counsel, and in
March 2010 was tapped to lead the investigation of New York Governor David
Paterson.

Bruce Buck, chairman of Chelsea Football Club, partner in charge of firm's

European offices.[20]

Stephen C. Robinson, former federal district court judge sitting in the United
States District Court for the Southern District of New York and former United
States Attorney for the District of Connecticut.[21]

Patrick Fitzgerald, former United States Attorney for the Northern District of
Illinois who was, as special counsel for the U.S. Department of Justice Office of
Special Counsel, the federal prosecutor in charge of the investigation of the
Valerie Plame Affair.[22]

Fred T. Goldberg, Jr., Commissioner of Internal Revenue from 198992,

Assistant Secretary for Tax Policy in the United States Department of the
Treasury in 1992.[23]

Cyrus Amir-Mokri, former Assistant Secretary of the Treasury for Financial

Institutions of the U.S. Treasury Department.[24]

History[edit]

1948 The firm was founded in New York by Marshall Skadden, John Slate
and Les Arps.

1954 Joseph Flom became a partner.

1959 William Meagher joined the firm. Elizabeth Head, the firm's first
female attorney, was hired.

1961 The firm's name became Skadden, Arps, Slate, Meagher & Flom.

1973 The firm opened its Boston office, the firm's second.

1981 Peggy Kerr became the first female partner.

1985 Skadden became one of the U.S.'s three largest law firms.

1987 The firm opened its first international office in Tokyo.

1988 The firm founded the Skadden Fellowship Foundation.

2000 New York City headquarters moved to Four Times Square, also called
the Cond Nast Building.

2011 Joseph Flom, the last living name partner, dies.

Locations[edit]
As of April 2014, Skadden has 23 offices worldwide.[25]

Skadden Fellowship Foundation[edit]

Through the Skadden Fellowship Foundation, the firm sponsors law school graduates
who wish to practice public interest law. The foundation was established in 1988 at the
time of the firm's 40th anniversary. The Los Angeles Times has called the program "a
legal Peace Corps."[26] Fellows work with a sponsoring organization in the field of
providing legal services to the poor, the elderly, the homeless, the disabled, and the
disenfranchised. Skadden pays fellows a salary of $46,000 (as of 2006), plus all fringe
benefits the sponsoring organization offers its employees. As of 2006, the firm has
awarded 473 fellowships.[26]

Notable alumni[edit]
In addition to numerous professors and partners, both at Skadden and other firms, some
of the more notable former Skadden attorneys include:

Preeta D. Bansal, former General Counsel for the federal Office of Management
and Budget; former Solicitor General of the State of New York

George B. Daniels, judge, United States District Court for the Southern District
of New York (2000)

Mark Filip, former Acting Attorney General and Deputy Attorney General of the
United States; former judge, United States District Court for the Northern
District of Illinois

Greg Giraldo, international comedian

Robert Reynolds, manager of multi-platinum, international recording artists The

Killers and Brandon Flowers

Irving S. Shapiro, former CEO, DuPont

Eliot Spitzer, former Governor of New York,[27] and his wife, Silda Wall Spitzer[28]

Leo Strine, Chief Justice of the Delaware Supreme Court (2014present);

previously Chancellor (20112014) and Vice-Chancellor (19982011) of the
Delaware Court of Chancery

Laura Ingraham, conservative talk radio host

Chad S. Johnson, former President of the Stonewall Democrats

Faryar Shirzad, Managing Director and Global Head of Government Affairs at

Goldman Sachs

Keith Gottfried, General Counsel for the U.S. Department of Housing and Urban
Development (2005)

John Feerick, former Dean of Fordham University School of Law

Robert Del Tufo, former New Jersey Attorney General

Douglas Rediker, U.S. Alternate Executive Director, International Monetary

Fund (2010)

Mary L. Smith, current official, United States Department of Justice Civil

Division; former nominee, Assistant Attorney General, United States
Department of Justice Tax Division

Robert W. Sweet, judge, United States District Court for the Southern District of
New York (1978, senior status 1991)

William H. Timbers, former judge, United States Court of Appeals for the
Second Circuit (19711981, senior status 19811994); Chief Judge (1964
1971), judge (19601971), United States District Court for the District of
Connecticut

Richard Albert, Comparative constitutional law professor [29]

Harold M. Williams, former Securities and Exchange Commission Chair (1977

1981)

Political contributions[edit]
Skadden partners and employees tend to support and contribute more to Democratic
political candidates than to Republicans.[30]
Prominent lawyers at the firm endorsed and financially supported John Kerry in his
campaign to become president of the United States in 2004.[31][32]
In the run-up to Super Tuesday, 2008, Skadden hosted a phone bank in support of
Barack Obama.[33][34]

Thomson Financial League Tables

Linklaters
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Linklaters LLP

Headquarters

One Silk Street

London, U.K.

No. of offices

29 in 20 countries[1]

No. of lawyers

2,164[1]

No. of employees

4,765[1]

Major practice areas

Key people

General practice
Gideon Moore
(Managing Partner)
Robert Elliott

(Senior Partner)
Revenue

1.27 billion (2015)[2]

Profit per equity partner

1.42 million (2015)[2]

Date founded

1838

Company type

Limited liability partnership

Website
linklaters.com

Linklaters LLP is a multinational law firm headquartered in London, United Kingdom.

It was founded in 1838 and is a member of the Magic Circle of elite British law firms. It
currently employs over 2,000 lawyers across 29 offices in 20 countries.[1]
In 2015, Linklaters achieved revenues of 1.27 billion ($2.15 billion) and profits per
equity partner of 1.42 million ($2.38 million),[2] making it the world's fourth highestgrossing law firm,[3] and the most profitable member of the Magic Circle.[4] In the UK,
the firm has top-tier rankings across many practice areas, including corporate/M&A,
capital markets, banking and finance.[5][6] Linklaters counts more FTSE 100 companies
among its clients than any other law firm.[7] In the 2012 Global Elite Brand Index,
Linklaters was named the third strongest global law firm brand.[8]
Gideon Moore was elected Managing Partner in November 2015.[9]

Contents
[hide]

1 History

2 Offices

3 References

4 External links

History[edit]
Linklaters was founded in London in 1838 when John Linklater entered into a
partnership with Julius Dods.[10] The firm, initially known as Dods & Linklater,

gradually developed a practice in corporate law, including advising on the creation of

the Metropolitan Water Board.[11] On 4 May 1920, the firm, now known as Linklater &
Co, merged with another renowned London firm, Paines Plythe & Huxtable,[12] which
had been founded by a descendant of Thomas Paine.
For most the twentieth century, Linklaters & Paines was predominately a domestic
commercial law firm, with only a small number of overseas offices. However, in 1998,
Linklaters & Alliance was created in partnership with many of Europe's leading law
firms, including De Brauw Blackstone Westbroek in Amsterdam, De Bandt van Hecke
Lagae in Brussels, Loesch & Wolter in Luxembourg, Lagerlf & Leman in Stockholm
and Oppenhoff & Rdler in Germany.[13][14] Over the next five years, Linklaters & Paines
merged with the last four of these Alliance firms, as well as several other European
firms, in Belgium, Luxembourg, Sweden, Germany, Czech Republic and Poland. The
firm opened new offices in Amsterdam, Bangkok, Beijing, Budapest, Bucharest,
Bratislava, Lisbon, Madrid, Milan, Rome, So Paulo, and Shanghai. In 1999, amid this
global expansion, the firm shortened its name to Linklaters.[15]
On 1 April 2005, after Japan enacted laws to allow certain international law firms to
open law offices in the country, Linklaters created Japans first fully merged law firm
practising Japanese, English and US law. Linklaters spun off its offices in Bratislava,
Bucharest, Budapest and Prague into a separate firm, Kinstellar (an anagram of
Linklaters) in 2007. Linklaters opened an office in Dubai in February 2006.[16] In the
aftermath of the credit crunch in 2008, Linklaters cut 270 jobs in London, consisting of
around 120 lawyers and 150 other staff.[17] This was reported to be part of managing
partner Simon Davies' plan to become a smaller, more profitable organisation.[18]
On 1 May 2012, Linklaters entered into an alliance with top-tier Australian law firm
Allens.[19] Allens and Linklaters operate two joint ventures in Asia: one focused on
energy, resources, and infrastructure services, and another on Indonesia in collaboration
with domestic firm Widyawan & Partners.[20] On 1 February 2013, the firm entered into
an alliance with leading South African law firm Webber Wentzel.[21] The same year,
Linklaters opened an office in Washington, D.C., its second North American office after
New York City. In 2013, the firm launched in Seoul, South Korea.[22]

Offices[edit]
Linklaters was founded and remains headquartered in London. As of 2015, the firm has
29 offices across 20 countries throughout Asia, the Middle East, North America, South
America and Europe.[23]

Allen & Overy

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Allen & Overy

Headquarters

London, U.K.

No. of offices

46 worldwide in 32 countries

No. of lawyers

approximately 2,821

No. of employees

approximately 5,077

Major practice areas

General practice
1.23 billion[1]

Revenue
Date founded

1 January 1930

Company type

Limited liability partnership

Website

www.allenovery.com

Allen & Overy is a multinational law firm headquartered in London.

A member of the UK's Magic Circle of leading law firms, Allen & Overy is widely
considered to be one of the world's elite law firms, advising national and multinational
corporations, financial institutions, and governments.[2]
Since its founding in 1930, Allen & Overy has grown to become one of the largest law
firms in the world, both by number of lawyers and revenue.[3] With approximately over
5,000 staff including over 500 partners in 46 offices worldwide, the firm provides legal
advice in Europe, the Americas, Asia, Australia, Africa and the Middle East.

Contents
[hide]

1 History

2 Offices

3 Corporate social responsibility

4 References

5 External links

History[edit]
Allen & Overy was founded in the City of London on 1 January 1930 by George Allen
and Thomas Overy, formerly partners at Roney & Co. The main purpose was to build a
commercial practice. The firm's reputation was made as a result of George Allen's role
as advisor to King Edward VIII during the abdication crisis of 1936.[4] By the time the
Second World War broke out in 1939, Allen & Overy had firmly established itself as a
leading City law firm.
Over the years, Allen & Overy has been involved in many developments in the legal
field. Such work has included advising on the first hostile takeover in the City of
London and acting for S. G. Warburg & Co. The firm arranged the first Eurobond
(issued by Italian motorway group Autostrada) in the 1960s. Some say that the
Eurobond issue in 1963 was the single most important transaction in its history.
The Eurobond transaction significantly diversified A&O's practice from a purely
commercial into commercial and financial firm. Through the 1970s the firm's finance
and corporate practice grew in the UK and internationally.
Although now a global player, the firm was quite international from the outset, advising
mostly Canadian banks and companies. In the last 15 years, Allen & Overy has opened
offices in international financial centres, branching out into newly emerging markets.
In 2000, Allen & Overy established an online subscription business, Derivative Services
LLP, which provides commoditised legal solutions.
In May 2004, the worldwide partnership of Allen & Overy converted to a limited
liability partnership, Allen & Overy LLP, which works together with associated
undertakings in some jurisdictions to form a worldwide legal practice. In July 2008
Allen & Overy broke the 1 billion turnover mark,[5] and, for the first time, over half of
its turnover was generated outside London.[6] Also in that year, Allen & Overy opened
five new offices in Riyadh, Abu Dhabi, Mannheim, Dsseldorf and So Paulo, and
announced a new association in Romania. The firm also announced a referral
arrangement with Trilegal in India. [7]
A&O built a sizable local law practice in Japan following the easing of restrictions on
foreign law firms in 2005, and at its peak employed 30 Japanese attorneys in its Tokyo
office, but reduced this team to five in the wake of the 2008 financial crisis.[8]
In 2008, former managing partner David Morley was elected Senior Partner while Wim
Dejonghe became A&O's Global Managing Partner.
In 2009, Allen and Overy completed a redundancy programme which saw 400 partners
and staff lose their jobs globally. As well as cutting 47 partners, the firm cut around 200
fee-earners and 200 members of support staff, half of which are based in London. Allen
& Overy de-equitised a further 35 partners.[9]

In 2011, the firm made the decision to outsource up to 180 support staff jobs to Belfast.
[10]

In 2010 A&O hit the headlines for offering full equity partners the option to work parttime. The move was hailed as a 'watershed moment' for the legal sector. It is believed to
be the first scheme of its kind by any major international law firm. In the same year,
expanded into Australia for the first time, opening offices in Sydney and Perth.[11]
In 2011 Allen & Overy became the first global law firm to open a Moroccan office,
located in Casablanca. This plan was announced shortly before rivals Clifford Chance
and Norton Rose followed suit. Their latest expansion has seen the firm open offices in
Istanbul, Hanoi and Ho Chi Minh City.
Some of the firm's notable personalities include two Lord Mayors of London, David
Wootton and Sir Christopher Walford who was the seventh solicitor since records began
in 1730 to become Lord Mayor. He also became the fifth person in A&O's history to
receive a knighthood.

Offices[edit]
Over the years Allen & Overy has built its international presence and network to 46
offices in 32 countries. Most recently the opening of offices in Toronto and
Johannesburg.
Allen & Overy has a network of relationship law firms in 100 countries around the
world.

Corporate social responsibility[edit]

Allen & Overy has an extensive global pro bono and community affairs programme,
which in 2011, undertook 44,945 hours of pro bono and CSR work, with a value of over
GBP15 million.
In 2009 A&O launched the Smart Start Experience the largest programme undertaken
in the UK by a law firm to broaden access to top professions for young people from
socially disadvantaged backgrounds. The scheme was praised in the UK Government's
report on Fair Access to the Profession s, and was profiled widely on BBC News and
BBC Radio 4's The World Tonight programme. In 2010 the scheme won a prestigious
Lord Mayor's Dragon Award, which celebrates community investment in London.
Allen & Overy held a three-year relationship with the Red Cross, during that time A&O
contributed to the development of a new Model Law on disaster relief as well as raised
and donated over 600,000 for the Red Cross's work around the world.
Allen & Overy has a global charity partnership with Afrikids which was formally
launched in May 2012.