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Its an informal term based on a combination of turnover and profit to group the biggest law firms at the time the phrase magic circle was coined.
Mandala coloring sheets for adults. Before then the prestigious law firms were called the club of nine and included lovells now hogan lovells norton rose now norton rose fulbright herbert smith now herbert smith freehills and stephenson harwood. The group comprises allen overy clifford chance freshfields bruckhaus deringer linklaters and slaughter and may. Not to be confused with the magicians union of the same name this is a moniker for an elite group of five london law firms which share a focus on corporate and finance work.
Although a rather old fashioned term the phrase the magic circle has only been used since the late 1990s. Here we introduce them explain what they have in common and how theyre different. The economist labelled the magic circle a group of posh london law firms but we reckon you need a more helpful definition than that.
The term the magic circle is used informally to describe the top commercial law firms in the uk all based in and around the city of london. Youve probably heard of the phrase the magic circle.
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