The aims and objectives of SILF are provided for in Clause 3 of its Memorandum of Association, These include the following:

• To promote the reform of justice and law and its healthy development suitable to the social, economic and other needs of the people;
• To apply the knowledge and experience in the field of law for the promotion of the public good;
• To further good relations and co-operation between the firms and the Bench, between the firms and the Bar, and between the firms, and the public and lawyers of other countries;
• To promote the welfare of the various corporate commercial/litigation law firms in India;
• To uphold the honour, dignity and the independence of the legal profession in general and law firms in particular;
• To assist and promote reforms for upholding the rights and dignity of the firms in their relations with the executive and the judiciary;
• To promote unity and solidarity among the various firms throughout India;
• To bring about a unified body of firms with rights to be recognized as independent entities in the country;
• To promote the legal profession and to courage and conduct research and investigations in legal and allied fields;
• To promote legal education, continuing legal education and research;
• To provide and promote legal aid and legal assistance to the needy and the poor of the country;
• To encourage preservation of human rights and provide redress against violation thereof
• To promote international understanding and co-operation among the members of the legal profession across the world and to associate, join and co-ordinate with other associations/ members of the legal fraternity at the regional, national and international level;
• To promote publication of works of law;
• To work in co-operation with other societies, institutions and organizations-national and international and to send delegations to national or international conferences in the pursuit of all or any of the above objects;
• To constitute or cause the constitution of regional centers at convenient places in India to promote the activities of the society.
• To hold conferences and / or seminars;