US intellectual property boutique Morgan & Finnegan looks to be facing dissolution if, as expected, more than a dozen of its 17 partners jump ship to rival Locke Lord Bissell & Liddell.
As first reported by US legal blog AboveTheLaw.com, offer letters to a group of Morgan & Finnegan partners including John Sweeney and James Gould were anonymously leaked last Friday (23 January).
The letters included fine detail of the positions at Locke Lord including start date (2 February), compensation ($1m for Gould, $1.6m for Sweeney) and capital contributions (ranging from $50,000 to $175,000).
The offer letters also revealed that Gould would join the firm as the co-head of Locke Lord’s IP department while Sweeney’s role would be deputy managing partner of the firm’s office in New York.
Partners at Morgan & Finnegan contacted today said that they preferred not to comment while a spokesperson for Locke Lord said any comment was “premature”.
New York-headquartered Morgan & Finnegan is one of the US’s best-known IP firms. Its clients include Fujitsu, Hoffmann-LaRoche, IBM, Procter & Gamble and Rolex.