A question frequently asked of law firms is “who are your star individuals?” The unspoken implication is that you can only be successful if you have big name lawyers and actively promote them as such. While this may be true for some firms, it overlooks a real issue that many practices, particularly the growing regional law firms, face when deciding whether to place the emphasis on promoting stars or developing a brand.
The largest firms rely on promoting an ‘umbrella brand’ and a magic circle firm or a national firm has, almost by definition, achieved its position by having a strong brand. Having a recognised and valued name opens many doors and provides the client with the ultimate comfort factor. No-one was ever fired for hiring IBM…
