Significant changes are underway as Buchanan Ingersoll & Rooney incorporates a 22-lawyer team and two patent agents from IP firm RatnerPrestia, according to Bloomberg Law.
The sizeable addition directly bolsters Buchanan Ingersoll & Rooney’s intellectual property (IP) practice, representing an expansion of 65%. The transition is set to be completed by the start of the New Year.
This move is part of a broader growth strategy for Buchanan, according to Joseph Dougherty, the firm’s CEO and chairman. It not only enhances the firm’s resources but also encourages the extension of client relationships and services.
Buchanan, ranked 125th on the 2023 AmLaw Top 200, generates nearly $300 million in gross revenue. While the precise financial details regarding the RatnerPrestia deal remain undisclosed, the impact is expected to be notable. This amalgamation will place Buchanan amongst the top 10 most prolific patent firms in the US, with nearly 3,000 patent applications filed over the past year made by both firms combined.
Buchanan’s IP clients range from individual inventors to Fortune 500 companies and prominent universities. The firm offers extensive services managing clients’ patent and trademark portfolios, as well as handling IP litigation in federal and state courts, and before the United States Patent and Trademark Office.
The former CEO and president of RatnerPrestia, Jonathan Spadt, heralded the move, stating that Buchanan was the ‘right fit’ for their firm and clients. Spadt will serve as a co-chair of Buchanan’s IP section following the transition.