My people are destroyed from a lack of knowledge. Hosea 4:6.
As we close out 2022, it’s customary to look back and highlight the most noteworthy events or discuss all the things we are thankful for during the year.
While I have a lot of things to be thankful for, I want to focus on what we have to be most grateful for from a legal tech standpoint. Looking back at 2022, what had the most significant positive impact on legal? And its data. What can data do for lawyers? What it can show us. Information we never had before.
The impact data can have in legal was driven home to me in a recent discussion with Jackie Bell, Research & Data Editor, Law360 Pulse. Law360 Pulse recently released its second annual Leaderboard law firm rankings. The rankings are supported by data from Intelligize and Lex Machina.
The rankings highlight and rank firms across a broad range of criteria. Criteria such as culture, reputation, and business practice. More specifically, according to Law360, the rankings “are designed to measure the relative performance of law firms against their peers and provide context for an industry…”
The rankings measure firms in three broad areas. The Prestige Report examines what Law 360 considers four indicators of reputation and prestige. These are financial performance, attractiveness to attorneys, awards for the depth and breadth of their legal work, and positive media coverage.
The Social Impact report measures law firms’ social impact efforts across five pillars. The pillars include racial and ethnic diversity, gender equality, employee engagement, pro bono service, and responsible business practices.
Finally, the report looks at firms’ practice footprint. This measurement includes an analysis of the depth and breadth of their litigation practice. Law360 looked at 10