In January, we wondered whether once-thriving intellectual property boutique Kenyon & Kenyon would be able to survive 2016. Numerous partner departures followed, and in April, we heard that although Kenyon had extended offers to summer associates, the firm was no longer able to guarantee that it would have a summer program, leaving law students in limbo. Just four months later, we now know that the firm which once boasted about 150 IP attorneys now has but 55 attorneys total, including 24 partners, six counsel or of counsel, and 25 associates.
Things seem to be spinning out of control for Kenyon, which has been searching for a merger partner under the guidance of managing partner Edward Colbert in the wake of the loss of a significant chunk of its attorneys. The firm is said to have been in talks with Sutherland Asbill & Brennan, Baker Hostetler, and Andrews Kurth. Here’s more information on Kenyon’s likely merger partner from the New York Law Journal:
In particular, one source familiar with Kenyon said the boutique was in advanced talks with Texas-based Andrews Kurth.
Asked whether Kenyon attorneys had voted to approve a tie-up with Andrews Kurth, managing partner Edward Colbert denied any vote had taken place.
“We have not voted on any kind of proposal with any firm,” he said on July 21. A spokeswoman for Kenyon on Thursday confirmed that was still the case.
Colbert said last week that the firm has spoken with “a bunch of people” but declined to specify which firms. “These things take a while,” he added.
Transform Legal Reasoning Into Business-Ready Results With General AI
Protégé™ General AI is fundamentally changing how legal professionals use AI in their everyday practice.
Colbert declined to comment on what stage the merger talks with Andrews Kurth were in, or whether there were any merger talks with Andrews Kurth in the first place, but noted that the firm would decide before the end of the year whether it would merge or try to stick it out on its own. Given what some of our sources have told us about Kenyon’s seemingly dire financial straits — some have said that the firm was so deep in the hole with its legal research provider that its Westlaw access was about to be shut down — it would behoove the firm to find a stable merger partner, before it’s too late.
Will Kenyon & Kenyon survive 2016? Only time will tell, but right now, the odds do not seem to be in this IP boutique’s favor. We’ll keep our readers updated as we learn more.
Kenyon Engages in Merger Talks as Head Count Declines [New York Law Journal]
How LexisNexis State Net Uses Gen AI To Tame Gov’t Data
Its new features transform how you can track and analyze the more than 200,000 bills, regulations, and other measures set to be introduced this year.
Staci Zaretsky is an editor at Above the Law. Feel free to email her with any tips, questions, or comments. Follow her on Twitter or connect with her on LinkedIn.