What is a Law Firm?
A law firm is a business entity formed by one or more lawyers to engage in the practice of law. The primary service rendered by a law firm is to advise clients (individuals or corporations) about their legal rights and responsibilities, and to represent clients in civil or criminal cases, business transactions, and other matters in which legal advice and other assistance are sought.
Most Law Firms engage outside lawyers as consultants to the company on an exclusive retainer-ship arrangement with or without into contract that contain provisions relating to exclusivity, non-competition, confidentiality, and non-solicitation.
Large Law Firms, also known as “full-service” firms, can range in size from several dozens of lawyers and employees to several thousands of employees including lawyers, paralegals, administrative staff, human resource specialists, librarians and other officials – and can exist in multiple cities, states, and even countries.
Fields of Practices of Law Firms
Basic Corporate Law Firms : Mergers and Acquisitions, Joint Ventures, Private Equity and Business related Cases.
Financial markets: Legal and regulatory advice on IPOs, FPOs, rights issues, QIPs, ADRs, GDRs, IDRs, AIM listings, on the Equity side; issuance and restructuring of FCCBs, non-convertible bonds, unlisted infrastructure bonds, and medium-term note programs on the Debt Capital Markets side.
Dispute Resolution: Domestic and international arbitrations, commercial, corporate and regulatory disputes in various courts, tribunals, forums, administrative authorities and regulators in India.
Competition Law: Steering clients through their largest transactions, complex investigations, and high-stakes litigation
Finance and Banking: Banking documentation to securitization, factoring, setting up payment banks, syndicated loans, structured finance, acquisition finance, and mortgage-backed securities, guarantee structures, equipment financing, non-convertible debentures, external commercial borrowings, and working capital loans..
Projects and Project Finance: Advice to the Clients of Developers, contractors, investors and lenders on various infrastructure projects in areas such as Power, Oil, and Gas, Nuclear Energy, Ports, Roads, and Mining. Advice on regulatory aspects, contractual issues and government tendering aspects associated with such large scale projects.
Intellectual Property Rights: Covers patents, trademarks, copyrights and designs and other allied laws, from conceptualization to enforcement and from negotiations to creation of innovative corporate structures based on intellectual property
Venture Capital: Mostly stage financings.
Tax related: Direct and indirect tax services (customs duty, central excise, service tax, value added tax, central sales tax, state excise duty) ranging from tax planning, advisory, implementation, documentation, representation and litigation support.
Other Practice Areas and Industry Expertise: Bankruptcy and Insolvency, Consumer Protection and Product Liability, Corporate/Commercial Advisory, Defense, E-commerce, Employment, Environment and Climate Change, E-trade and Outsourcing, Bribery Investigations, Infrastructure, Internet Governance. Additionally Mining and Energy, Pro bono, Philanthropy and Trusts, Real Estate and Trusts, Regulatory and Public Policy, Retail, Taxation, Trade Law and White Collar Crime.
Weighing up Law Firms
There is ‘n’ numbers of Law Firms working in the Country today. If you are a Client or a Student to Learn from a Law Firm, it is Important to Evaluate the Law firms to choose the Best of Bests.
Here is how to weigh your Choices according to the Qualities to find in a Lawyer or a Law Firm.
- Decision making and recommendations based on accurate legal and factual analysis and good judgment
- Relationships and credibility with the local judiciary
- Managing discovery and document production effectively and efficiently
- Prompt response to a client’s request for assistance
- Real commitment to achieve needed results in a timely way
- The law firm’s staff demonstrates consistently high quality performance
- Reputation for handling complex, innovative deals
- Capacity to handle all client requirements in an area – e.g., international offices/connections
- Commitment to IT and the use of IT to improve client services
- Perception in the market
- Individuals with the contacts at, and credibility with, the top clients
Top 10 Best Law Firms in India
There are many leading law firms present in India but here are the Top 10 Law firms that have gained the reputation of being the best.
- Amarchand & Mangaldas & Suresh A Shroff & Co
This is the best law firm of India that has made sure the quality assistance on legal grounds is delivered. They have the expertise and experience to deliver the best quality legal services for wide range of varieties.
Prevailing in India since 1917 this Law firm has Local Offices at Delhi, Mumbai, Ahmedabad, Bengaluru, Chennai, Hyderabad, Kolkata, Gurgaon.
- AZB & Partners
There are at least 20 partners that have made it one of the best law firms in the country. It has 295 lawyers that work for the firm and makes sure that quality assistance is delivered to the people. There are wide range of clients that work for the law firm.
Existing since 2004 in India, this Law Firm has Local Offices at Mumbai, Delhi, Bangalore,Pune, Gurgaon.
- Khaitan & Co
Khaitan & Co has made sure that the legal assistance is provided to the people at a large scale and of highest standard. There are 354 numbers of lawyers present in the law firm that take care of different expertise and field of law. They have almost 81 partners and expertise from Civil Law to Criminal Defense.
Existing since 1911 in India this Law Firm has Local Offices at Mumbai, Delhi, Kolkata, Bengaluru.
- J Sagar Associates
This is another name that has won the reliability and trust of people from long time. There are 72 partners associated with this law firm. A person wide range of options with 292 lawyers with expertise and experience in various field.
Having Local Offices at Delhi, Mumbai, Gurgaon, Chennai, Hyderabad, Bengaluru this Law Firm is Existing in India since 1991.
- Luthra & Luthra Law Offices
They have expanded their base to wide horizon and now has become one of the one stop solution for law and judiciary consulting and assistance. It has 42 partners and 292 lawyers are associated with them to offer legal assistance to people.
Prevailing in India since 1989 this Law Firm has Offices at Mumbai, Delhi, Bengaluru, Hyderabad in India
It does not matter the kind of legal assistance you seek, the Trilegal can help you to get each and everything. There are almost 23 partners present with the firm along with 172 lawyers that can offer you the legal assistance.
Existing since 2000 this Law firm has Local Offices at Mumbai, Delhi, Bengaluru, Hyderabad in India.
- S&R Associates
It is not so huge law firm but it has earned the reputation of being one of the best. It has got senior and reputed clients and has almost 8 partners. There are almost 53 lawyers associated with the firm.
Existing since 2005 this Law Firm is situated at Delhi and Mumbai.
- Economic Law Practice
This is one of the best and large law firms in India that has almost 25 partners for law practices. One can get 129 lawyers associated with the firm that can give you wide variety of legal assistance.
This Law firm has Local Offices at Mumbai, Delhi, Ahemdabad, Pune, and Bengaluru and is in Existence since 2001 in India.
- Desai and Diwanji
This is one of the biggest law firms in India that has the reputation of being one of the best. There are huge numbers of lawyers involved in the law firm. There are 27 partners involved with this firm along with 187 lawyers.
Existing since 1930 in India this Law Firm has Local Offices Mumbai and Delhi.
- Talwar Thakore & Associates
It may look a smaller firm but when it comes to performance, this firm has outperformed others. There are 26 lawyers associated with the firm and almost 8 partners are involved. However, there are many senior and reputed clients associated with the firm.
Prevailing since 2007 this Law Firm has Local Offices at Mumbai and Delhi.