Why Industry Expertise Is the Currency of Credibility for Law Firms
Methodology: The Sector Performance Index
The Sector Performance Index (SPI) is a quantitative framework designed to evaluate how effectively law firms perform within a specific industry sector, including life sciences. It is based on the premise that clients select outside counsel through the lens of industry understanding rather than practice group labels alone.
For this analysis, 265 law firms with demonstrable life sciences practices were evaluated using publicly available data and independent research. Each firm received a composite score derived from seven weighted factors:
Industry Brand – Market visibility and association with the life sciences sector
Sector Recognition – Independent rankings, awards, and third-party validation specific to life sciences
Dedicated Headcount – Lawyers primarily aligned with life sciences matters
Sub-Sector Depth – Coverage across biopharma, medtech, diagnostics, digital health, and related areas
Sector Investment – Evidence of strategic commitment, including leadership focus and lateral hiring
Digital Presence – Depth and quality of life sciences-specific online content and organization
Thought Leadership – Frequency and substance of industry-focused publications, alerts, and insights
Each factor was scored independently and then weighted to reflect its relative importance to life sciences clients, based on observed client selection behavior and longitudinal industry research.
The resulting Sector Performance Index score is intended to identify firms demonstrating sustained, institution-level commitment to the life sciences sector, rather than episodic deal activity or reputation alone.
James J. Stapleton is the Managing Principal of Client Sciences and the creator of the Sector Leadership Index and the Client Performance Index. He challenges the way the legal market evaluates expertise, arguing that clients use industry sector expertise as a primary lens into their law firm selection.
After more than three decades building AmLaw 100 law firms and global professional services firms PwC and Arthur Andersen—and advising on over 7,500 law firm/client transitions—Mr. Stapleton now helps law firms communicate their industry credibility and aids clients in cutting through marketing claims to identify firms with genuine sector immersion.
Mr. Stapleton can be reached at 408-440-7660 or james.stapleton@clientsciences.com.
