Reputation and relationship capital of law firms
Vol. 2 - Iss. 1 pp. 27–32
According to Benjamin Franklin: "Glass, china and reputation are easily cracked and never well mended." But what does ?reputation' mean in the context of a law firm? In their paper ?Reputation and Performance in Large Law Firms?, Michael Smets, William Morris and Tim Morris suggest that it is: "? a signalling device that serves as a proxy for the quality of a firm's products, strategies and employees relative to its competitors, when communicating with clients and other stakeholders." This is as elegant a definition as one can find for a quality which is quite ephemeral in nature. The reality is that when applied to the supply of legal services, reputation is difficult to measure objectively.