The world’s top law firms will be given an independent valuation over the next six months, in a ground-breaking venture that look set to provide a benchmark for future investment in legal services.

Professional services association the Managing Partners’ Forum (MPF) and specialist consultant Brand Finance have launched the first initiative, to assign a brand value to the world’s largest 500 professional services institutions, which includes around 200 law firms. Twenty-seven of these are from the UK.