The US legal market is the world’s most dynamic and lucrative, setting global standards for M&A, capital markets, and litigation. The top firms are not just domestic leaders; they are global financial institutions that command immense revenue and profitability.
The “best” firms are typically judged by three key metrics: Prestige/Reputation, Gross Revenue, and Profit Per Equity Partner (PEP), which measures profitability. This list combines these metrics to identify the ten most influential commercial law firms in the United States.
Top 10 Elite US Law Firms (By Prestige and Profitability)
| Rank (Approx.) | Firm Name | Headquarters/Origin | Key Metric Dominance | Defining Practice Strength |
| 1 | Kirkland & Ellis LLP | Chicago | Highest Gross Revenue (over $8.8B) & Highest PEP (over $9.2M) | Private Equity, M&A, Corporate Restructuring. |
| 2 | Wachtell, Lipton, Rosen & Katz | New York | Highest Revenue Per Lawyer & Top-Tier PEP (over $9.0M) | Elite Boutique M&A, Takeover Defense. |
| 3 | Latham & Watkins LLP | Los Angeles | Top 5 in Revenue & PEP (over $7.1M). Massive Global Reach. | Global M&A, Capital Markets, Project Finance. |
| 4 | Cravath, Swaine & Moore LLP | New York | Highest Prestige Ranking (Often #1) | High-Value Corporate Advisory & M&A. |
| 5 | Skadden, Arps, Slate, Meagher & Flom | New York | Top 5 in Revenue & High Prestige | M&A, Corporate Restructuring, Litigation. |
| 6 | Gibson, Dunn & Crutcher LLP | Los Angeles | Top 10 in Revenue & High PEP (over $7.1M) | Elite Litigation, Appellate Law, Corporate. |
| 7 | Davis Polk & Wardwell LLP | New York | Top-Tier PEP (over $7.8M) & Highest Prestige | Capital Markets, Banking & Financial Regulation. |
| 8 | Simpson Thacher & Bartlett LLP | New York | Top-Tier PEP (over $7.6M) | Private Equity, M&A, Leveraged Finance. |
| 9 | Paul, Weiss, Rifkind, Wharton & Garrison LLP | New York | Top-Tier PEP (over $7.5M) | Litigation, Private Equity, and M&A. |
| 10 | Sullivan & Cromwell LLP | New York | High Revenue Per Lawyer & Prestige | Global Banking, Corporate Finance, Generalist Model. |
💰 What Makes These Firms the “Best”?
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The Profitability Kings (PEP): Firms like Wachtell and Kirkland & Ellis lead in Profit Per Equity Partner (PEP). This metric is often considered the best measure of partner success and the firm’s overall efficiency in handling high-stakes work, with both firms generating over $9 million in profit per partner annually.
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The Revenue Titans: Kirkland & Ellis has surpassed all rivals, becoming the first law firm to break the $8 billion mark in annual gross revenue, demonstrating unmatched scale in global M&A and restructuring work.
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The M&A and Private Equity Engine: The core practice for virtually all firms on this list is Mergers & Acquisitions (M&A), particularly advising Private Equity (PE) funds. Firms like Simpson Thacher and Kirkland are cornerstones of the PE industry.
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The Litigation Powerhouses: Even for transactional giants, high-stakes Litigation and White-Collar Defense are crucial. Gibson Dunn and Paul, Weiss are consistently ranked at the very top for defending major corporations in court.
These US law firms are not just legal service providers; they are integral to the global flow of capital, setting precedents and advising on the most complicated business transactions worldwide.