Victoria accounts for 27% of Australian firms operating in this sector and has a highly developed legal services sector operating across a broad range of areas which include corporate and commercial law, criminal law, industrial and workplace relations, intellectual property law, personal legal services and property law. Major players operating in Victoria include Herbert Smith Freehills, Allens, Clayton Utz, Minter Ellison, Ashurst Australia and King & Wood Mallesons.
Victoria's sophisticated legal sector reflects the quality of its legal system and governance in Australia which ranks among the best in the world. Australia ranked 1st for the Legal Rights Index in the 2014-2015 World Economic Forum's (WEF) Global Competitiveness Report and scored highly on rule of law and regulatory quality in the World Bank, Worldwide Governance Indicators, 2014. Strong governance is attractive for operating regional headquarters.