Vault Guide to the Top 100 Law Firms, 2018 Edition.pdf

674 vault guide to the top 100 law firms 2018 edition

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674 Vault Guide to the Top 100 Law Firms, 2018 Edition DUANE MORRIS LLP THE SCOOP From its hub in Philadelphia to offices in Northern California to outposts in Asia and back around to London, Duane Morris may be taking a Ferdinand Magellan approach to legal industry domination. The firm’s specialties include litigation, corporate law, intellectual property, business reorganization and financial restructuring, employment and immigration, energy and environment, health law, real estate and wealth planning. Go West, More West, and Then a Little Farther West Founded in 1904 by Russell Duane, a descendant of revolu- tionary polymath Benjamin Franklin, Duane Morris has expo- nentially grown in staff and locations from its early twentieth century beginnings. Under the leadership of Sheldon Bonovitz, who took the helm in 1998 when the firm held a legal team numbering around 200, Duane Morris more than tripled its attorneys on staff. In recent years, the firm has continued to strategically grow under current Chairman John Soroko. More than 128 partners have joined Duane Morris in the past 5 years. Back in 2008, Duane Morris hired a team of construction lawyers from Thelen; the next year, it brought a group of attorneys on board from Wolf Block. In 2012, Duane Morris hired 16 attorneys from Dewey & LeBoeuf, expanding its insurance, energy and technology practices in the process. A year later, the firm opened offices in Silicon Valley—where its attorneys focus on patent litigation and patent prosecution, trademarks and copyrights, venture capital, private equity and related commercial litigation—as well as Muscat, Oman and Yangon, Myanmar. Most recently, Duane Morris has set up outposts in Shanghai and Taiwan. And in Spring 2017, the firm added the six-attorney real estate team from Carlton Fields in Miami. A Specimen of Study Noting that Duane Morris tripled in size in just 12 years, Harvard Business Professor Boris Groysberg commissioned a study of the firm for his business students called “Duane Morris: Balancing Growth and Culture at a Law Firm.” Groysberg found that, despite its rapid expansion, Duane Morris had maintained its “Quaker values” along with an “unusually narrow” spread between the highest and lowest partner compensations, according to the ABA Journal. The study also noted Duane Morris’ practice of emphasizing lateral hires in its recruitment practices. In 2013, Harvard Business School published its second case study of the firm, entitled “Collaborating for Growth: Duane Morris in a Turbulent Legal Sector.” The case study examined the firm’s success in maintaining its collaborative culture despite economic pressures impacting the global legal industry, as well as the firm’s continuing expansion into new markets. The study concluded that Duane Morris was able to maintain its “Quaker ways” by keeping a “transparent, data-driven compensation system, practice-group integration across multiple offices, and rewards for attorneys who shared responsibility.”
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