IP M&A: "Too Early to Close the Coffin on IP Boutiques"

Managing Intellectual Property interviewed Finnegan chair James Monroe to discuss why IP boutique are still necessary and how they continue to prosper, despite the trend of general practice (GP) firms acquiring them. 

James emphasized the importance of smaller IP firms being specialized and larger IP firms being diverse in their practice and geographic reach. He discussed the importance of adaptability and being able to offer services across industries. He said, "The future is multidisciplinary. Information technology and software electronics are getting into pharmaceutical biotech, for example. It’s a convergence of what used to be separate technology areas."

James also spoke to the advantages of IP boutiques. He said, "GPs are more focused on getting profit from litigation, which doesn't require the training and infrastructure investments that IP firms are willing to provide." He also discusses the culture at boutiques in comparison to big law firms, and how boutiques tend to retain talent. "In the world we live in today, there is a lot of movement possible. It's not just money. It's culture and other non-monetary benefits. That's why you see people who could stay in big law, go to smaller boutiques because they have a better lifestyle." He said, "I think it's way too early to try to close the coffin on IP boutiques."