Call it the ultimate conundrum: market forces are boosting demand for legal intellectual property work, leading to a wave of attorney hirings, but some law firms are simultaneously, albeit indirectly, pushing out talented IP lawyers because of rising rate pressures. Take last week, when Gemini Law, a boutique specializing in IP work, announced the addition of two partners who had departed from Willkie Farr & Gallagher.
IP work is intensely connected to technological innovation—everything from medical device development to AI platform technology and beyond—and legal industry experts say attorneys in the field typically arrive with advanced degrees in areas such as science and medicine, meaning the attorneys themselves are often older and more seasoned. As the innovation economy booms, their skill sets make them in demand at firms large and small.