Linklaters

This is a great question, but it requires an important clarification: Corporate law firms are not consumer products like smartphones or software. You don't "buy" a law firm off a shelf. Instead, you hire a partnership of highly specialized lawyers based on the specific legal problem you face (merger, IPO, compliance, litigation) and your budget (fortune 500 vs. startup).

That said, the legal industry has a clear hierarchy of "prestige" and "usage" based on the Am Law 100 and Vault 100 rankings. These are the firms that handle the world's most complex, high-stakes corporate transactions. People "use" these firms for their reputation, network, and ability to close deals.

Here are the top "brands" (firms) that are most frequently used by large corporations, banks, and private equity funds.

The "Magic Circle" (UK-based, global dominance)

These firms are the gold standard for international corporate law, especially in London, Europe, and Asia.

• Freshfields Bruckhaus Deringer – Top for M&A, private equity, and antitrust. Used by the world's largest companies.
• Clifford Chance – Giants in finance, capital markets, and cross-border work.
• Linklaters – Unmatched in capital markets and banking.
• Allen & Overy – Renowned for its global network and finance practice.
• Slaughter and May – The most elite, selective UK firm. Extremely high-quality advice, often used by the UK government and FTSE 100.

The "BigLaw" US Powerhouses (Vault 10)

These firms dominate the US market and are the most "used" by Fortune 500 companies for core M&A, securities, and litigation.

• Wachtell, Lipton, Rosen & Katz – The absolute top of the top. They only handle the most complex M&A and corporate defense. They charge the highest rates, but are considered the apex predator of corporate law.
• Cravath, Swaine & Moore – The "Cravath system" invented modern law firm management. They represent major corporations like IBM and Citigroup.
• Skadden, Arps, Slate, Meagher & Flom – The largest and most active M&A firm globally. If a deal is happening, Skadden is likely involved.

The "best" corporate law firms are elite "BigLaw" or "white shoe" practices specializing in high-stakes work like M&A, securities, private equity, governance, and complex transactions for major corporations. These are not consumer "products" people "use" directly—corporations and their boards hire them for sophisticated legal services, often on multi-billion-dollar deals. Rankings from Chambers and Partners (client and peer-driven for practice areas like Corporate/M&A) and Vault (prestige via associate surveys) serve as the standard benchmarks, alongside Am Law 100 data on revenue and profitability.

Top Elite Firms (Primarily US-Focused Corporate/M&A)

These consistently rank at the highest tiers (e.g., Chambers "Band 1" or Elite, Vault top prestige spots) and handle the most demanding corporate work:

• Cravath, Swaine & Moore LLP — Frequently #1 in prestige (Vault Law 100) and top-tier in Chambers Corporate/M&A Elite. Known for rigorous training and landmark deals.
• Wachtell, Lipton, Rosen & Katz — Elite in M&A defense and activism; often leads in profitability per lawyer (Am Law metrics) and ranks #2 in Vault prestige.
• Kirkland & Ellis — Massive scale with top revenue (often leads Am Law 100 gross revenue); strong in private equity and corporate.
• Davis Polk & Wardwell LLP, Sullivan & Cromwell LLP, and Simpson Thacher & Bartlett LLP — Core members of the traditional elite group, frequently Band 1 in Chambers for corporate/M&A.
• Skadden, Arps, Slate, Meagher & Flom LLP, Latham & Watkins LLP, and Paul, Weiss, Rifkind, Wharton & Garrison LLP — High-volume dealmakers with broad corporate practices; Latham and Kirkland often top revenue lists.

Other notables frequently in top bands include Cleary Gottlieb, Debevoise & Plimpton, and Weil Gotshal.

Global/International Standouts

Firms like A&O Shearman, Clifford Chance, Freshfields, and Linklaters rank highly for multi-jurisdictional corporate/M&A work.

By Revenue and Scale (Am Law 100 Context)

Kirkland & Ellis and Latham & Watkins often lead in gross revenue, while Wachtell excels in profits per lawyer and revenue per lawyer. These metrics reflect the volume of corporate work handled.

"People actually use" these firms refers to major corporations (e.g., Fortune 500 companies) retaining them for bet-the-company matters due to their expertise, track records, and reputation. Selection depends on the deal type, jurisdiction, industry, and budget—smaller or mid-market companies often use regional or lower-tier Am Law firms. Rankings evolve yearly, so check current Chambers or Vault guides for specifics. Prestige and elite status (as in Vault) often matter most for top talent and high-profile work.