The IFLR1000 Awards are based on IFLR1000’s in-depth country-by-country research, honed over 30 years of examining legal markets.
In 2022, the IFLR1000 awards will name the best law firms, teams and lawyers in four domestic markets: United States, Canada, India and China.
The research team will automatically consider for the awards any firm that submits to the IFLR1000 research and has offices in one of the four jurisdictions covered.
Please read the IFLR10000 RESEARCH GUIDELINES for a comprehensive explanation of the process. Follow the steps in the 'How to submit your information' section to be considered for both the rankings and awards.
If you are interested in participating in this year's research, please register through the link below if you have not already done so.
***Additionally, our sister publication IFLR will be reviewing deals nominated for awards for the IFLR Africa Awards 2022 (2021 winners) and IFLR Middle East Awards 2022 (2021 winners). These awards recognise work that improves the cross-border investment environment. They do this exclusively by looking at legal innovation in multi-jurisdiction transactions. Submitting law firms can be based anywhere, but the deals must be based in those regions. For further information please contact James Wilson. ***
The IFLR1000 awards use IFLR1000’s methodology and will base decisions on written submissions, interviews with key practitioners in the market, peer review and client feedback. All aspects are considered to give the fullest possible picture.
Final decisions will be made independently by the IFLR1000 editors.
Evidence of structuring and closing highly sophisticated, complex and impactful deals is critical in the evaluation. The awards will focus on work in a single jurisdiction, governed by the domestic laws, led by domestic lawyers and with a significant domestic impact.
A proven ability to provide market-leading commercial advice to clients and consistent recognition by peers that a firm’s, team’s or individual’s work has been setting the standard in the market are also key factors in judging the awards.
In 2022, IFLR1000 will run awards for the following jurisdictions:
IFLR1000 India Awards
Shortlist announced: August
Winners revealed: October
IFLR1000 China Awards
Shortlist announced: June
Winners revealed: August
IFLR1000 Canada and Unted States Awards
Shortlist announced: August
Winners revealed: October
Please note, categories across each jurisdiction will vary. Each awards will recognise an overall best national firm, best teams by practice area and by state/region, and best lawyer by practice. Each awards will also recognise some of the market’s leading deals.
Last year’s winners can be seen here:
Deals will be evaluated based on their legal complexity, deal management and market impact:
Legal complexity: regulatory hurdles, legal uncertainty, new and untested frameworks, local law considerations, and legal innovation (ie precedent setting, first-of-its-kind etc)
Deal management: commercial challenges, contested deals, time constraints, complex negotiating dynamic, political pressure and other challenges
Impact: significance for client and sector, value and market impact
Only deals that closed during the defined research period will be eligible for awards – ongoing deals will not be considered.
The awards will use the same practice area definitions as the IFLR1000 research.
The shortlist and winners of firm, team and individual awards will be drawn up based on the full IFLR1000 research process, combining deal roles, firm information, practitioner interviews, market feedback and client testimonials.
Candidates must have under 15 years post-qualification experience to be considered and must not have made partner prior to the research. Ideal candidates will have stood out throughout the research and may have had key roles on some of the most notable deals closed during the research period. For example, if a senior associate is taking lead roles on complex work, managing teams of lawyers and generally operating at a partner-level.
Eligible firms will have been established for less than five years prior to the launch of the research and will be evaluated based on the IFLR1000 submissions and research, and deal record over the defined 12 months period of the awards.
Eligible firms must not have a Tier 1 ranking in IFLR1000 in the awards jurisdiction across any category. Candidate firms will have demonstrated notable growth, with significant mandates and deal records over the research period. Strong candidates will be challenging the incumbent top tier firms in the market across one or more practice areas.
The Hall of Fame award will recognise a practitioner for an outstanding legal career and achievements in transactional law.
How do you choose the winners?
IFLR1000 bases its decision on the full scope of the research. Submissions are the critical part of the evaluation. Research interviews with law firms, client feedback and other market research also feed the decision-making process. The research team may also follow up on specific aspects, especially deals, with interviews with law firms, in-house counsel and clients. Ultimately, the decision is that of IFLR1000. Ultimately, we want to recognise firms, teams and lawyers that can demonstrate a clear difference from their competitors in their performance, in what they offer to their clients, or in their strategy.
How do you decide which deals are important?
IFLR1000 will look for deals that demand high levels of legal skill and sophistication to structure. Among the key attributes, we will pay special attention to complex or unprecedented legal structures, challenging regulatory hurdles, national and local law crossovers, firsts-of-their-kind deals or deals that imported, created or tested new legal mechanics.
We will consider challenges from a deal management perspective, where commercially and strategically astute deal management and negotiating was required. The team will also factor in a deal’s value and commercial significance, and its impact on the client, sector and market.
How do you decide which firms, teams or lawyers to shortlist?
IFLR1000 will use a combination of the IFLR1000 submissions and research alongside consideration of a firm, team or lawyer’s role on transactions that were competitive in the awards.
IFLR1000 will also look at the role that firms, teams and lawyers played on a deal – for example, taking a lead counsel role is more important than providing a legal opinion, advising the main buyer is more important than advising a shareholder, advising the underwriters is better than advising the ratings agencies etc.
Can I talk to/meet a researcher?
Yes. please contact the relevant regional editor via IFLR1000's contacts page. They will coordinate an interview.
When is the submission deadline?
The awards are based on the IFLR1000 submissions, which have a deadline of February 24, 2021.
Must deals have reached final close in 2021 to be considered for any deal awards?
Yes. All deals must have closed between the end of January 1 2020 and December 31 2020 to be considered for any deal awards.
How do you divide advertising and editorial?
There is no connection between advertising and success in IFLR1000’s awards or rankings. IFLR1000’s awards are built on editorial independence.