Legal panels have seen significant changes in recent years, with mounting competition and rigorous standards for selection processes at major firms worldwide. A metamorphosis has occurred with these panels shifting from simple rosters to structures that demand businesses establish their worth and purpose. As such, securing a position on a firm’s roster has never presented more of a challenge.
Such are the observations raised in a recent analysis by ALM, which has followed UK panel appointments over several years. The organization has not only been monitoring individual firms landing these coveted spots, but it has also been recording data on panel size, appointment duration, oversight of selection processes and the anticipated dates of next reviews.
The investigative work of ALM also revealed the diverse strategies General Counsels are now deploying to oversee their company rosters. The takeaways from their five-year study offer valuable insights to law firms seeking to secure a position on these panels and stay ahead of the curve in a climate of stiff competition and high standards.