Over- And Underrated Biglaw Practice Groups

According to the ATL Insider Survey, these practice groups deserve more (or less) acclaim.

Sometimes, the internet seems to exist largely in order to rate things. User-generated and unverified reviews of everything from movies to cars abound. The thing with this proliferation of ratings, be they on Yelp, or Amazon, or whatever, is that we usually don’t have any idea whether or not the reviewer has any basis for his rating. (In fact, the spoof product review has become its own literary micro-genre.)

Spurious or baseless ratings are not a problem when it comes to ATL’s Insider Survey (17,300 responses and counting — thanks everyone!), in which practicing attorneys and current students evaluate their own schools or employers. Among other things, our survey asks attorneys to nominate firms with over- and underrated practices within the respondent’s own practice specialty. Litigators nominate litigation departments, etc.

Which firms do those in-the-know consider to be better (or weaker) than their reputations?

Obviously, these survey results need to be viewed with some skepticism — we realize that, human nature being what it is, answering this question might be a chance to take an easy shot at a more successful rival or competitor. (Consider Keith Olbermann’s recent bitter “Derek Jeter is overrated” rant.)

Below are the top three most over- and underrated firms in each practice area, as voted by the ATL readership. (For the 2012 version of the findings, please see here and here.)

Most Overrated Bankruptcy Practices
Weil Gotshal
Skadden
MoFo/Jones Day (tie)

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Most Underrated Bankruptcy Practices
Jones Day
Cleary
Haynes and Boone

The ATL readership doesn’t know what to make of the Jones Day bankruptcy group and places the firm on both the under- and overrated short lists. (Ed. note: the original version of this post left Jones Day off the “overrated” list in error.)

Most Overrated Corporate Practices
Cravath
Sullivan & Cromwell
Davis Polk

Apparently, for many respondents, “overrated” correlates with “extreme prestige.”

Most Underrated Corporate Practices
Cahill Gordon
Cooley
Baker Botts

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Cahill’s corporate group received more votes than the next four firms combined.

Most Overrated Litigation Practices
Latham & Watkins
Cravath
Quinn Emanuel

As was the case last time, the litigation category generated a lot vitriol against Biglaw litigation generally. A typical sentiment: “All of Biglaw since they don’t try cases just move paper around on their desks.”

Most Underrated Litigation Practices
Paul Hastings
Orrick
O’Melveny & Myers

Most Overrated Labor & Employment Practices
Littler Mendelson
Paul Hastings
Morgan Lewis

Most Underrated Labor & Employment Practices
Morgan Lewis
Seyfarth Shaw
Sidley Austin

Once again, Morgan Lewis made the shortlists for both overrated and underrated employment practices.

Most Overrated Tax Practices
Skadden
Cravath
Davis Polk

Most Underrated Tax Practices
Cooley
White & Case
Cahill Gordon

Most Overrated IP Practices
Fish & Richardson
Weil Gotshal
Finnegan Henderson

Despite being named “Number One Powerhouse Firm in Complex IP Litigation” by Fortune 1000 In-House Counsel, some of you feel Fish & Richardson is not all it’s cracked up to be.

Most Underrated IP Practices
Orrick
Gibson Dunn
Latham & Watkins

Orrick appears twice on these lists, for overlooked IP and litigation practices. So does Cooley, for corporate and tax.

So what say you — any surprises here? Any overhyped firms being overlooked? Let us know. (If you haven’t yet, please take five minutes and take our survey here.)