GLOBAL LAW FIRM NETWORKS: An Introduction to Global Market Leaders

Introduction & Thank You

TAGLaw® is honoured to be once again named an “Elite” international legal network/alliance for the ninth year and to contribute our thoughts to this annual introduction for the third time. This prestigious recognition is truly a testament to the quality of our impressive community of 160+ independent law firms that are members of TAGLaw. Today, TAG Alliances brings together over 20,000 professionals in over 110 countries worldwide to seamlessly service the global needs of their clients.

All of us at TAGLaw and TAG Alliances send warm congratulations to our fellow peers who have also been recognized as “Elite” and “Leading” legal networks/alliances by Chambers.

2021 – Looking back while looking ahead.

For some, 2021 was a repeat of 2020. At TAG Alliances, we decided to build on the new programs and initiatives that resulted from the COVID-19 pandemic. For example, due to our members expressing their desire for in-person interactions, we adapted our very successful virtual meeting platform to allow for a hybrid component. This change resulted in more than 120+ TAG Alliances members safely meeting together in various “Pop-up” locations around the globe for a TAG Alliances Hybrid International Conference in October 2021. The conference included a simulcast of a keynote presentation on innovation from disruption by renowned speaker Shawn Kanungo, together with a strategic update by TAG Alliances President and CEO, Richard Attisha.

We have seen a handful of legal networks and alliances implementing similar hybrid events illustrating the importance of in-person interactions to build and maintain trusted relationships between member firms. This Fall, our TAG Alliances “Pop-up” meetings were connected to allow for an interconnected global experience as we watched a dynamic keynote presentation from leading futurist Shawn Kanungo.

In 2021, our member firms continued to assist their clients with the various challenges presented by the pandemic and the different ripple effects, such as disruption to supply chains, governmental assistance to SMEs, including pandemic tax credits and incentives, and the continued digitization of our global economy. Vaccine mandates and travel passports also presented clients with regulatory puzzles and workplace law issues requiring legal expertise and solutions. Furthermore, the recent uncertainty in global markets has created additional opportunities for lawyers and advisors as corporations shift resources or change their processes to account for the current economic climate. For many firms, 2021 has been one of the busiest years of practice due to these various issues and factors.

As the pandemic continues, it is becoming more evident that law firms cannot solely focus on their clients’ challenges without addressing their own internal issues. Firms of all sizes are being confronted with significant staffing and talent challenges. At our frequent “Managing Partner & Firm Leader Roundtables,” we have discussed this issue at length, in addition to how firms can not only retain but truly engage the next generation of firm leaders and allow them to become the superstars of tomorrow. However, firm leaders within TAGLaw and TAG Alliances have observed that their next generation of leaders is not merely interested in financial gain or incentives but emphasizes other qualities such as work-life balance, diversity, equity, sustainability, and leaving a positive mark on their communities and society.

Additionally, younger professionals want their firms to provide a level of autonomy to develop and promote unique expertise (e.g., blockchain, cryptocurrencies, cybersecurity, etc.). Savvy firm leaders, especially those who are members of international networks and alliances, frequently seek the perspectives of other firm leaders to see how they are facing the incredibly challenging talent market. As leaders and organizers of international legal networks and alliances, we play a key role in equipping our members with the knowledge and insights to solve recruiting and talent retention issues.

What is ahead for firms and alliances & networks?

We are all looking forward to a world where the pandemic eventually fades into the background. In 2022 and beyond, law firm alliances and networks will need to resume their in-person events to counteract the virtual meeting fatigue that has begun to take effect. However, online meetings will continue to play a crucial role in maintaining and strengthening the relationships that were previously forged at in-person events. Whatever the venue, in-person or digital, alliance and network events play a vital role in allowing member firms to build strong relationships to serve their clients and to share best practices.

Technology continues to be a significant disruptor, and alliances and networks that invest in technologies and solutions will better serve the needs and expectations of their members. At TAGLaw and TAG Alliances, we pride ourselves on being innovators, and the next step in our technological evolution is the development and launch of our mobile app. Dynamic solutions, such as mobile apps, will allow alliances and networks to maintain visibility and engage among the next generation of firm leaders, many of whom will manage their firms in the near future. It also allows our members to collaborate through unique, niche practices to provide global solutions to clients.

However, we must all remember that technology is just a tool to facilitate connections between member firms and individuals. In the early days of alliances and networks, paper directories and member lists have been replaced by online directories on websites and other virtual mediums. Today, members of alliances and networks have instant access and connectivity with other members through apps on mobile devices. In the near future, communication with members may be through the online metaverse or virtual reality environment where professionals can work together using avatars in a virtual office. Whatever the medium or method, the primary mission of networks and alliances is to connect professionals with other high-quality, like-minded professionals to serve the needs of their clients – this is our mission, and the future looks very bright.