The Speed-Dial List for Corporate GCs
When you are a Fortune 250 GC facing a bet-the-company legal problem, who ya gonna call? The answer, not surprisingly, is the usual suspects: Skadden Arps for mergers and acquisitions, Kirkland & Ellis for litigation.
That is the conclusion of this year's Who Represents America's Biggest Companies, the fifth annual survey in which Corporate Counsel magazine asks Fortune 250 general counsel to list their "primary" outside counsel. This year, 93 companies provided information on their top firms for corporate transactions, litigation, labor and employment, and IP.
Corporate Counsel contributing writer Tamara Loomis provides an overview:
"Our five-year look reveals at least two noteworthy trends. Skadden, propelled by the kind of loyalty shown by [one GC], has ranked as the No. 1 go-to firm for corporate transactions nearly every year. (This year it was edged out by one mention by its rival at the top, Davis Polk & Wardwell.) But it isn't the only firm that GCs love to call. Over the same five years, Chicago-based Kirkland & Ellis has captured the No. 1 spot for litigation."
And when it comes to bet-the-company cases, Loomis reports, GCs "typically say they want the massive firepower of a large firm on their side -- no matter what the expense."
Read more about this year's survey (free registration required for charts):
Posted by Robert J. Ambrogi on August 22, 2006 at 03:46 PM | Permalink
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