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R&G Retreat From Patent Work in Firm Shakeup

A Nice Positve Opening on the Day +2.2% !

Ropes & Gray to Shed Lawyers, Retreat From Patent Work in Firm Shakeup
Brian Baxter, The Am Law Daily
March 7, 2017

About 100 lawyers and staffers are poised to leave Ropes & Gray within the next few months as the Boston-based Am Law 100 firm prepares to spin-off its patent prosecution practice into an independent firm.
www.americanlawyer.com/id=1202780785662/Ropes--Gray-to-Shed-Lawyers-Retreat-From-Patent-Work-in-Firm-Shakeup?slreturn=20170229090743

Ropes & Gray Ending Patent Business
March 8, 2017Dennis Crouch
Ropes & Gray is ending its patent prosecution practice. It is still unclear whether the ~100 patent attorneys leaving will re-claim the Fish & Neave name
https://patentlyo.com/patent/2017/03/ending-patent-business.html

Ropes & Gray to spin off patent prosecution

Ropes & Gray is putting its patent prosecution business into a brand new firm led by partner Joe Guiliano.
Guiliano will establish the new firm with other Ropes & Gray partners and around 100 employees. It will specialise in IP rights management.

Ropes & Gray chairman Brad Malt said in a statement: “We are restructuring our IP practice groups to a configuration that we believe best serves our clients.”

“We remain committed to providing world class IP litigation capabilities, and we will continue offering our industry-leading IP transactions practice to clients.”

The new firm will also cover trademark prosecution and patent analysis, strategy and counselling

Guiliano commented: “We’re excited to start a new firm that will specialise in IP rights management.”

“The new firm will be positioned to offer the kind of specialised, focused counsel on patent prosecution and related matters that our clients have come to expect.”
www.ippropatents.com/ippropatentsnews/article.php?article_id=5317

I have posted this video once, although it bears repeating, it goes rather Quickly and Pausing to read shows a few things worth noting in screenshots below.

Ropes & Gray LLP
Designation: Boston
Head Count: 1,106
Gross Revenues: $1,390,000,000
Revenue Per Lawyer: $1,255,000
Profits Per Partner: $2,015,000

Ropes & Gray is a Boston-based law firm. According to the National Law Journal's 2016 NLJ 350 ranking of firms based on size, Ropes & Gray has 1106 attorneys and is the 19th largest firm in the United States. With $1,390,000,000 in gross revenue in 2015, the firm placed 13th on The American Lawyer's 2016 Am Law 200 ranking. On the 2015 Global 100 survey, Ropes & Gray ranked as the 18th highest grossing law firm in the world. The firm has offices in CA, DC, IL, MA, NY and RI.
http://www.americanlawyer.com/law-firm-profiles-result?firmname=Ropes+%26+Gray