(18/10/2005) The Business Law Practitioners in Spain 2003-2005 (Abogacía de los Negocios en España 2003-2005) Report, prepared by Grupo Negocios, ranks Garrigues as the best law firm overall in Spain. The report emphasizes the Firm’s tangible values (billings and number of professionals, among others) not to mention its “intangible assets”: the “Garrigues” brand is the one most highly valued by clients, making the Firm the best known in Spain. The report, published by Marcial Pons, is the first in Spain to incorporate the measurement of intangible values into the traditional analysis model for the legal industry.
The Report highlights that “2004 was a year that saw a resurgence of law firms in Spain, following a certain degree of stagnation in the industry since 2001.” In the overall ranking, law firms are graded under six main headings each consisting of two indicators: business (billings per partner and growth); brand (recognition and reputation); social capital (teaching activities and social and cultural promotion); human capital (professional development and training); organization (specialization and coverage); and technology (implementation and resources). Within these headings, one of the main sources of intangible value for enterprises is brand. According to a survey of 80 enterprises by La Gaceta (including multinationals, listed and unlisted companies, family businesses and SMEs), reputation is the principal factor taken into consideration by prospective clients when engaging a law firm. Garrigues stood out particularly in this area as it is the best-known firm and has the best reputation in Spain.
Garrigues was also ranked first under the “Human Capital” heading. At 2003 year-end (the date chosen for compiling the data), Garrigues had 1,098 lawyers and 160 professionals from other disciplines, whereas it currently has 1,360 professionals in total. The Report emphasizes the Firm’s professional development plan and its target-based compensation and evaluation system. Under the “Technology” heading, special mention is made of Garrigues’ website, ranked fourth among those of firms operating in Spain and first among Spanish law firms.
Also analyzed in the Report is international expansion in the last two years. With respect to Spanish firms, the most significant aspect is the extensive nature of their international networks and the consolidation of their Portuguese subsidiaries. The Report cites Affinitas, the Latin-American alliance of lawyers promoted by Garrigues and currently consisting of seven firms with over 1,900 professionals. It also refers to the tax alliance Taxand, of which Garrigues is a founder member and which currently comprises more than 1,000 professionals from 19 countries worldwide. Lastly, the Report also highlights the opening of Garrigues offices in Portugal and Shanghai.