U.S. Law Firms Focus on Intellectual Property, Need for Attorneys Grows
Intellectual property management has assumed major significance over the past decade due to globalization and advances in information and communication technologies, according to the UN’s World Intellectual Property Organization (WIPO). And where technology goes, opportunities for attorneys soon follow. Emerging technologies are expanding areas of practice for attorneys, who are increasingly responding to intellectual property issues, or matters of trademark law, copyright law and property rights law.
U.S. law firms will be placing more emphasis on intellectual property in the future, according to a new survey conducted by the Law Firm Services Group of PricewaterhouseCoopers’ Private Company Services practice. The reason for the shift in focus: revenue. The PwC study finds that U.S. firms now list intellectual property as one of their top three profit generators. Thus, it may come as no surprise that a number of law firms are expanding their intellectual property practices. Executive search firm, A.E. Feldman, reports that significant opportunities exist for attorneys specializing in intellectual property.
Intellectual property (IP) refers to creations of the mind: inventions, works of art and literature, symbols, names, images, and designs used in commerce, according to WIPO. Intellectual property is divided into two categories: industrial property, which includes patents, trademarks and industrial designs as well as copyright, which includes literary and artistic works.
Firms Expanding Their Ranks
International law firm, Brown Rudnick, is expanding its litigation and intellectual property practices. The firm just announced the addition of Edward J. Naughton, a trial attorney specializing in patent litigation and intellectual property law, as a partner in the Litigation Department. Brown Rudnick’s CEO, Joseph Ryan, said in a statement that the hire “augments the strengths of both our litigation and intellectual property practices.”
Wilson Sonsini Goodrich & Rosati also just announced that it has expanded its intellectual property practice with the addition of new partner, Wei Zhou. Zhou will split his time between the U.S. and China. The firm’s CEO, John Roos, says that intellectual property, and the China market represent great potential for the firm, and Zhou is “uniquely positioned at the convergence of these key opportunities.”
Davis Wright Tremaine is yet another firm that continues to expand its intellectual property/patent law practice. In the past year, the firm added three new attorneys to its intellectual property/patent law group which now has over 50 attorneys in eight offices. Alexandra Nicholson, Co-Chair of DWT’s intellectual property practice group says the recent hires are “welcome additions to our firm and reflect DWT’s continued commitment to expanding our capabilities in intellectual property and patent law across our offices.”
Powell Goldstein also announced that it is strategically and aggressively growing the firm to expand its services in the U.S. The firm recently hired new counsel in the Business and Finance practice of the firm’s Atlanta office to focus on complex corporate transactions involving intellectual property and technology matters.
