IP Partner Unique Reasonable Requirements, Fast Path to Equity Partner Prestigious AM Firm
This prestigious AM firm has consistently increased revenue growth year after year for the past decade, while continuing to climb up the AM rankings. The firm has emerged from an AM 200 well into the AM 100 rankings. The firm is cash strong with zero debt, so with their strong financial position the firm’s leadership in conjunction with the firm’s IP leadership has made a commitment to expand the firm’s IP practice.
Currently the IP leadership is seeking Partners for their Patent Prosecution & Patent Counseling Practice Group. The leadership is seeking Partners at two levels. Please see the opportunities listed below.
The IP Leadership is seeking a Partner that has demonstrated the ability to develop new business in their current role. This Partner should have reached 1 million in portable originations in their current firm, however the origination revenue commitment within the first 2 years of joining the group will be set at 500K to 600K. It should be noted if the Partner has not achieved these billing originations, but has clients on this trajectory, the IP leadership will consider this person. The Junior Partner will be eligible for “Equity Consideration” in 24 months of joining the firm. If this Junior Partner needs additional time for equity consideration, then the time will be granted. The firm does not have an up or out policy.
The firm encourages Partners to develop their practice and provides an excellent team of IP leaders that will support this Junior Partner, in terms of Partner mentor for day to day operations, new business development that will include being assigned a market support person that works within the firm’s marketing department, and a Partner career mentor, who will help this Junior Partner navigate into the Equity Partnership ranks.
The firm pays AM market compensation base salaries, plus bonus. The Jr. Partner’s origination is not the only measuring guideline for compensation. The IP/Firm leadership also considers intangible contributions made to the IP team/firm, such as participating in team marketing pitches, as well as doing work for other Partners and patent portfolio development. The IP group is very team and entrepreneurial oriented.
Currently the IP leadership is seeking this Junior Partner to have a strong technical engineering, that includes an electrical and or computer science/engineering educational background. They will also entertain other engineering degrees. The IP group has a lot of work in this arena and is in need of Partners who have technical educational backgrounds.
The IP leadership will also support this Junior Partner to grow his/her book of business by allowing them to add Patent Agents and Associates to their team. The firm is working closely with our Network Recruiter as our Recruiter has a solid track record of identifying Patent Agents and Associates with business. This Junior Partner will work closely with our Network Recruiter to build the team. The originations from these team additions will be added to this Junior Partner originations. These team members will be paid an additional bonus for their business. Since the Partnership is strongly committed to the mentoring of this Partner, the IP leadership would like to see this person assume a Group Leadership role at some point in the near future.
SENIOR EQUITY PARTNER
The firm is looking for Partners that will transition with their team. If the Partner does not have a team that will follow, the firm will support new hires and the Partner can work with our Network Recruiter to help build the team. The firm has some bench bandwidth of support for the short term. The qualified Partner will have a client following in the 2 plus million range. The leadership is looking for a Partner with a practice in the technical engineering arena. The firm has a superior technology and excellent marketing department and a superior support team, including docketing and paralegals. The firm and the IP leadership is extremely entrepreneurial in their running of the law firm. The group is extremely team oriented. The firm is in a strong financial position with no debt on their books and is in a position to compensate at the highest level of the AM for a Partner with a proven track record. The IP department makes up a significant contribution to the firm's overall revenue, earning the substantial autonomy of their practice.
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