Magic circle

Magic circle is a term used to describe the group of leading London law firms. These are usually considered to be:

• Allen & Overy
• Clifford Chance
• Freshfields Bruckhaus Deringer
• Linklaters
• Slaughter and May

Because of continued commercial success in recent years, some publications now also consider Herbert Smith to be part of the Magic Circle.

As of 2006 the first four listed above were in the top seven largest law firms in the world by revenue (in 2006 Clifford Chance became the world's highest-grossing law firm).

Slaughter and May only ranked 35th in the world, but is still considered a Magic circle firm because its equity partners have consistently enjoyed the highest profits of any Magic Circle for several years.

The Magic circle includes only English firms, despite Scottish firm Dickson Minto being the 3rd most profitable firm (in terms of profits per equity partner) in the United Kingdom.