After bleeding partners for several years, Morgan & Finnegan dissolved in February and filed for bankruptcy in March. Its collapse supports the thinking among some that IP boutiques are an endangered species in a market that tends to favor scale and one-stop shopping. Specialty shops can survive, through a proper combination of growth in size, retaining their talent and bringing in a critical mass of patent litigation. Former partners of Morgan & Finnegan say the boutique largely failed on all three fronts.
June 03, 2009 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
From the outside, Morgan & Finnegan’s future looked bright.
It was January 2004, and the venerable IP firm had just signed a 20-year lease to take over the twentieth and twenty-first floors at Three World Financial Center in lower Manhattan. The lease wasn’t cheap — $327,000 a month in the first year — and the firm had been lured back downtown in part by a $1.5 million state grant aimed at reviving a neighborhood still reeling from the events of Sept. 11, 2001.
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