Patent Insight 6: Top Growing and Declining Law Firms in Patents (2023)
Earlier this year, in March, we published our Patent Intelligence Report 2024. This is a comprehensive summary of the patent landscape, designed to provide important insights into patent trends, legislative impacts, strategic direction changes, and economic influences from January 1, 2019, to December 31, 2023. It marks our continuous commitment to keep professionals in the patent field well-informed, aiding decision-making processes by delivering valuable data and analysis. In our previous Patent Insights, we have published numerous key observations from the 2024 report. These included insights like the major lateral moves of top patent attorneys, the identification of rapidly expanding and declining companies in terms of patents issued, and Saudi Arabia's status as the quickest-expanding foreign nation in the patent landscape.
As we progress further into 2024, it's important to reflect on the patent landscape of the past two years. Legislative changes, strategic shifts, and economic conditions may all contribute to the fluctuations in patent grants, and law firms try to carve out a successful path for their clients in this dynamic market. In this article, we'll be taking a closer look at the tides of change that 2023 and 2022 brought to the patent world. Specifically, we will focus on law firms that experienced the most notable growth and those that witnessed significant declines in their patent portfolios. Armed with the data from our latest Patent Intelligence Report, we aim to shed light on the key market shifts and discuss the forces that potentially drive these changes.
The chart above provides a comparative view of patent publications and patents issued in the years 2023 and 2022. It's important to note that patent applications are usually published 18 months after filing, hence we utilize the numbers of published patents as a proxy to indicate filing activity. Alongside, we consider issued patents as a crucial index in our report. In 2022, there were 377,710 patent applications published and 360,067 patents issued. These numbers saw a slight decline in 2023, with published applications at 365,822 and issued patents at 348,114. The declining trend in patent publications and issuances is apparent; however, pinpointing specific reason(s) for this decrease requires detailed analysis. It could be due to a singular influencing factor or an interplay of multiple factors, and further studies are needed to ascertain the exact cause.
While our analysis indicates a general downtrend in patent issuances, this trend is not universal across all entities. Certain law firms defied this overall trend and demonstrated growth. Here below, we will be reviewing the top 'contrarian' firms, who even amidst the general backdrop of declining patent issuances, managed to increase their number of patents. This evaluation helps us spotlight those who have outperformed amidst challenging times and consider their strategies and performances for in-depth insights. Our focus lies particularly on the top 2,000 most active law firms. We've compared each of these firms' number of issued patents in 2023 vs 2022, ranking them based on the difference in these two yearly counts.
- Harrity & Harrity has been recognized for its exceptional growth in the past year, earning the top-ranking position among growing law firms. Historically, it has exhibited a consistent growth trajectory over the last few years, while in the last year alone, the firm saw an increase of 475 patents. They have dedicated this growth to their commitment to innovation and quality service. It’s worth noting that their main client Qualcomm Technologies, Inc., was the company that grew the most in 2023, as highlighted in our previous insight.
- Holland & Hart has also been exemplary in their growth, closely trailing Harrity & Harrity, to secure the second rank in top growing law firms. The firm has seen an increase of 468 patents issued in 2023 compared to 2022. They mention that the growth trajectory is a testament to their dedicated focus on next-generation technologies, addressing the evolving needs of their clientele. Both of their main clients, Qualcomm Technologies, Inc. and Micron Technology, Inc. were mentioned as top growing companies in the previous insight, while Holland & Hart is their main law firm in patent prosecution.
- Greenberg Traurig LLP experienced significant growth in 2023, achieving its 10th consecutive year of record revenue with over $2.3 billion, a 6% increase from 2022. This growth was fueled by their continued expansion and strategic initiatives, including the opening of new offices in Dubai, Riyadh, and Singapore, and substantial developments across the U.S. In 2023, Greenberg Traurig LLP issued 442 more patents compared to the previous year. They have a dedicated team of registered patent attorneys with diverse technical backgrounds and advanced degrees which brings together a wide range of expertise and knowledge, allowing the firm to handle complex and varied patent issues effectively. Micron Technology, Inc., their top client for patents, was mentioned in our previous insight as one of the top-growing companies by patents issued in 2023.
- Perkins Coie saw an increase in the number of patents issued in 2023 compared to 2022, with 420 more patents. They have over 110 attorneys and patent agents registered to practice before the USPTO. These professionals are distributed across a range of industries, including computer science, electronics, semiconductors, telecommunications, life sciences and biotechnology, medical devices, aerospace, and consumer products. This extensive expertise enables the firm to handle diverse and complex patent matters. Furthermore, the firm continues to expand its team, with recent additions such as Thomas Yee, a patent prosecution partner in the New York Office. Micron Technology, Inc., Fraunhofer-Gesellschaft, and Bytedance Ltd. are their top clients.
- Fox Rothschild grew for the second consecutive year in 2023 with 359 more patents issued than in 2022. The firm has strengthened its automotive industry practice by merging with the boutique firm Aboyoun Dobbs LLC last year, bringing in new partners and counsel. This merger enhances their ability to provide comprehensive legal services nationwide in the automotive sector. Interestingly, two of their top clients when it comes to patent prosecution are Hyundai and Kia Motors America.
In the light of the overall decline in the number of patents issued last year, it's not surprising that several law firms, despite their robust practices and strong history in patent prosecution, have felt the pinch of this slowdown. It’s important to note that these trends do not discount the competence or reputation of the firms involved, but rather, are part of the patent industry's fluctuating nature.
The downturn observed in law firms like Oblon, McClelland, Maier & Neustadt, L.L.P., and Birch, Stewart, Kolasch & Birch, LLP, appears to be closely associated with a simultaneous decline from their main clients. Specifically, Toshiba, served majorly by Oblon, McClelland, Maier & Neustadt, L.L.P., and LG Electronics, a key client of Birch, Stewart, Kolasch & Birch, LLP, have both seen reductions in their patent prosecution activities. Meanwhile, in the midst of the noted decrease in the number of issued patents, Sughrue Mion has scaled up its operations. With an eye towards expansion, the firm recently welcomed aboard two seasoned attorneys from Oliff. Oliff also experienced a noticeable departure as two of its patent attorneys made the move to join forces with Williams Mullen. Echoing a parallel trend, Dentons, too, saw changes in its ranks with several attorney teams branching off to further their careers at Bryan Cave Leighton Paisner and DLA Piper over the past year.
As we digest these significant shifts within the patent legal landscape, it’s noticeable that competitive intelligence tools have evolved to become more crucial than ever. For those seeking an edge in this vibrant and competitive domain, our Patent Intelligence Report, as well as Patexia's Patent Analyzer tool, provide unrivaled insights and sharp analysis in the field of patent law. These powerful tools allow law firms to delve deeper, offering a lens into the competition, facilitating the discovery of top attorneys, and illuminating the leading companies in the industry. Harnessing this intelligence not only drives informed decision-making but also empowers firms to strategize and perform at their optimum level with increased clarity, tact, and confidence.
In the coming weeks, we will be publishing more patent insights, covering some of the best law firms and attorneys in the industry as ranked by activity and performance in our Patent Intelligence 2024 Report! Stay tuned!