Formula for success
Top 50 Leading Law Firms in Ukraine survey: configuration of the Ukrainian legal market is based on a comprehensive analysis of the key performance indicators of law firms
The Top 50 Leading Law Firms of Ukraine survey has been conducted by Legal Practice since 1997. Its key feature is to undertake a comprehensive assessment of the activities of law firms by both quantitative and qualitative criteria: number of lawyers, profitability, complexity of transactions and litigations supported by them, financial efficiency. Reputation within professional circles is also taken into account. The place of a law firm in the final results table of the Top 50 Leading Law Firms of Ukraine in 2018, Bronze League and regional listing is determined by its rating calculated on the basis of the above indicators using weighted coefficients. Leaders in individual industrial practices were named on the basis of survey results in Ukrainian Law Firms 2018. A Handbook for Foreign Clients, as carried out by the Legal Practice publishing house, taking into account the necessary correction due to change of employment by some recommended lawyers, up to retirement from the legal business.
The period under the survey covers 12 calendar months: I-III quarters of the current year and IV quarter of last year. All the data has been aggregated using weighted coefficients, the value of which is related to commercial information and is not disclosed. In assessing the work of law firms, a common approach was applied to all, and in this regard, all survey participants are on an equal footing. The coefficient ratio is chosen in such a way that it is most natural to integrate all indicators in the survey into the final results table, while none of the criteria are of decisive importance. On the other hand, the most balanced results are achieved by law firms that provide complete information and confirm it in accordance with the established requirements. The analytical group reserves the right to selectively verify the data specified in the survey. Companies that did not submit questionnaires are also included in the survey, on which there is enough public information, thus enabling evaluation of their performance in accordance with the methodology used.
The income of a law firm means, for survey purposes, the income received from the sale of legal services. If the services are provided by several legal entities of different legal form, but under a common "brand", or lawyers registered as individual entrepreneurs are involved, the income of a law firm is defined as the amount of income of these legal entities and/or individual entrepreneurs. Accordingly, the income of a Ukrainian law firm with several offices, including those in other countries, is determined by summing up the income received by each office. The income of representative offices of foreign law firms operating in the country was defined as income of the office operating in the territory of Ukraine. If a law firm refused to provide information on financial indicators due to certain circumstances, the method of income recovery is applied. It is based on the assumption that law firms with a formally identical profile receive approximately the same income per lawyer; only full-time lawyers (including partners) are taken into account.
We fully comply with confidentiality requirements and do not disclose information provided solely for the purposes of calculations. However, we believe it is possible to disclose data, for example, on a firm's profitability and its financial performance, restored in accordance with developed methodology or obtained from open sources.
Confidentiality rules also apply to the practical section of activities of law firms; only public projects are included in the lists of major transactions and court/arbitration cases supported by law firms during the period under review.
In calculating the final results table for the Top 50 Leading Law Firms of Ukraine survey, one of the key factors is the firm's reputation. The absence of "recognition" points reduces the final position of a firm regardless of the amount of income and the number of lawyers employed in it. Both the overall level of recognition of a law firm and its reputation in the context of individual practices are assessed. It is worth noting that the firms included in the number of leaders of the overall rating, as a rule, confirmed their reputation in individual practices. The voting procedure was changed this year. All participants of the Top 50 Leading Law Firms of Ukraine survey were asked to name law firms with the highest professional reputation, as well as leading, in their opinion, law firms practicing in Ukraine. And when answering each of these questions, it was possible to name up to 10 law firms in five groups. What's interesting is that the results of voting showed that a high level business reputation does not always correspond to leading positions on the market. On the other hand, the survey’s leaders are also listed at the top of the reputation rating.
At the final stage of the survey, the results obtained in the course of sociological calculations were evaluated by our expert council. Experts can change the positions of no more than 15 firms represented, which, in their opinion, need to be adjusted.
The data obtained from experts are summarized, the correction coefficients are calculated which determine the final place of a law firm among the Top 50 Leading Law Firms of Ukraine survey. The objectivity of expert evaluations is achieved thanks to confidentiality; as the organizers do not disclose the list of experts until the actual publication of the survey’s findings. In addition, there is partial rotation of members of the expert council every year.