Legal services consist of a wide range of legal solutions for businesses. The requirement for legal services varies from company to company – some require legal assistance occasionally while others may require it on a regular basis. Generally, large companies hire a corporate law firm that has expertise in a variety of legal fields including contract law, tax law, mergers and acquisitions, and bankruptcy. Some businesses also employ in-house attorneys and only require outside legal services in special or unusual circumstances. Legal services are utilized by attorneys for a number of purposes including billing, research, and case management. In addition to these, some of the other common legal services include arbitration, mediation, and notary public services. (Source: Global Legal Services Procurement Intelligence Report) Some of the top legal services companies in the world are:
Latham & Watkins
Latham & Watkins is a legal services company that was founded in the year 1934. They employ more than 2,600 lawyers in 30 offices located in 14 countries. Interestingly, Latham attorneys speak more than 60 languages. The company is committed to helping clients achieve their business strategies and providing outstanding legal services around the world. In 2007, Latham & Watkins became the first American law firm to earn more than $2 billion in yearly revenue.
Allen & Overy
Allen & Overy was founded 88 years ago (1930) by George Allen and Thomas Overy. The company has a network spanning 44 offices in 31 countries. They are known to have developed strong ties with relationship law firms in over 100 countries where they do not have a presence. This network makes them one of the largest and most connected law firms in the world. The company is headquartered in London, UK.
Hogan Lovells was earlier known as Hogan & Hartson and was founded in the year 1904. The company’s name was changed to Hogan Lovells in the year 2010 – from the combination of two firms with international credentials, U.S.-based firm Hogan & Hartson and European-based firm Lovells. In the year 2013, the company merged with South African firm Routledge Modise. Hogan Lovells employs over 2500 attorneys in more than 40 facilities in the United States, Europe, the Middle East, Asia, and Latin America.
Freshfields Bruckhaus Deringer
Freshfields Bruckhaus Deringer is a multinational legal services company headquartered in London, known to be one of the oldest international law firms in the world. Founded as early as 1743, the company celebrated its 275th anniversary in 2018. The company is a member of the Magic Circle of elite British law firms. Freshfields was appointed a solicitor to the Bank of England. It continues to advise the Bank of England even today.
Linklaters is a legal services company headquartered in the United Kingdom. The company employs approximately 2300 qualified attorneys (excluding partners) and operates in 201 countries around the globe. Their area of expertise includes corporate/M&A, capital markets, litigation, banking and finance, restructuring and insolvency, antitrust and tax.
The procurement market intelligence reports from SpendEdge offer a comprehensive cost and supply market analysis. This procurement report also offers insights into the legal services market and sheds light on the major cost and volume drivers and procurement best practices to save costs.