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The Legal Industry

The legal services industry is made up of professionals and organizations that provide services on matters and issues that require deeper understanding of the rules and technicalities of the current laws. The core of this industry is the lawyer, also known as an attorney and law practitioner, a professional who engages in the practice of law.

The services offered by lawyers vary; the fields that they specialize in are manifold. These include: criminal justice, corporate law, family and estate law, patent law, real estate law, and tax law.

One of the leading international law firms in terms of annual revenues is the United States-based Baker & McKenzie. A diverse law firm with a global reach and general law practice at its core, the majority of the firm’s roster of law practitioners is based outside the United States. Currently headed by John Conroy, the firm’s Chairman of the executive committee, Baker and McKenzie is ranked the second largest by number of attorneys among US firms. The total revenue of the firm in 2008 was $2.19 billion.

Kirkland and Ellis is also a leading international law firm based in the United States. While the firm’s specialty is centered on general law practice, most publications about law and the legal industry consistently rank Kirkland and Ellis as one of the leading legal firms in terms of litigation services. In 2008, Kirkland and Ellis raked in $1.15 billion.

Mayer Brown, another international law firm, is listed as of one of the largest in terms of manpower and revenues. The firm has expanded its reach in the Asian market, following the merger with JSM (initially Johnson Stokes and Master). Most of Mayer Brown’s legal services offered are litigation, corporate and securities, finance, real estate, tax, intellectual property, government and global trade. The firm earned $1.183 billion in 2008. The firm is led by Chairman James D. Holzhauer and Vice-chairmen Kenneth S. Geller and Paul Maher.

White & Case LLP, also listed as one of the top law firms in the international scene, has 38 offices, 33 of which are located outside the United States. White & Case is known for its reputation in handling complicated, cross-border issues and its clientele is made up of public and privately held businesses, financial institutions, governments and state-owned entities. White & Case’s new leadership group was unveiled in 2007 with Chairman Hugh Verrier and partners Asli Basgoz, Dimitrios Drivas, and Anthony Kahn at the helm. White and Case raked in $1.373 billion in 2008.

New York-headquartered Latham & Watkins is one of the largest global law offices with 28 sub-offices and 2,100 employees. Latham and Watkins operates mostly in the US, Europe, the Middle East and Asia. The firm is currently led by Robert Dell, Latham & Watkins’ chairman and managing partner. With a 2008 revenue of over $2 billion, Latham and Watkins is the first to announce a revenue of such amount in the legal industry’s history. In 2007, the Vault listed Latham and Watkins as one of the “Best 20 Firms to Work For.” The list only has four large firms with New York offices.