Goodwin Procter
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No. of offices | 13 |
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No. of attorneys | approximately 1400 |
Major practice areas | General practice |
Key people | Robert S. Insolia (Chairman) Mark Bettencourt (Managing Partner) |
Revenue | ![]() |
Profit per equity partner | ![]() |
Date founded | 1912 |
Company type | Limited liability partnership |
Website | goodwinlaw.com |
Goodwin Procter LLP (known as Goodwin) is an international law firm headquartered in Boston. It is one of the largest law firms in the world as measured by revenue and consists of more than 1,400 lawyers across offices in Cambridge, Frankfurt, Hong Kong, London, Los Angeles, Luxembourg, New York City, Paris, Santa Monica, Silicon Valley, San Francisco, and Washington, D.C.[3] Goodwin focuses on complex transactional work, high-stakes litigation and advisory services in matters involving financial institutions, intellectual property, private equity, real estate capital markets, securities litigation, white collar defense, technology and life sciences.
Goodwin is one of the fastest growing firms in BigLaw,[4] having more than doubled its revenue between 2010 and 2020.[5] It is particularly known for advising high-growth businesses in the technology, life sciences and real estate sectors, as well as the private equity and venture capital investors that finance them. The firm sits “at the top in the tech and capital arena,”[6] and is “a known entity, and frequent adviser, to Silicon Valley’s entrepreneurs.”[7] Goodwin’s transactional lawyers represent public and private companies across their entire lifecycles, including financings, capital market transactions, mergers and acquisitions, collaborations and licensing, intellectual property and regulatory matters.[8] The firm’s litigation lawyers assist clients in a wide range of industries, with particular expertise in consumer financial services, intellectual property, white collar defense, securities, commercial and business litigation, appellate litigation, products litigation and counseling, labor and employment, ERISA litigation and antitrust.[9]
In 2018, Goodwin became one of the first major law firms to launch a dedicated proptech practice to serve the growing real estate technology industry.[10][11] The firm also has practices dedicated to the fintech industry[12] as well as digital currency and blockchain,[13] and claims it represents about 40 percent of the companies on the Forbes Fintech 50 list.[14]
Goodwin has been named “Biotech Firm of the Year” by U.S. News and World Report - Best Lawyers five times,[15] “M&A Mid-Market Law Firm of the Year” by Mergers and Acquisitions magazine,[16] Life Sciences and Intellectual Property “Practice Groups of the Year” by Law360,[17][18] and “IP Law Firm of the Year”[19] and “US Life Cycle Firm of the Year” by LMG Life Sciences.[20] The firm has also been recognized as a “Best Place to Work for LGBTQ Equality” by the Human Rights Campaign[21] and one of the “Best Law Firms for Women” by Working Mother magazine[22] for nine consecutive years.[23]
History[]
![](http://upload.wikimedia.org/wikipedia/commons/thumb/9/94/Goodwin_Procter_Boston_Office_%28cropped1%29.jpg/300px-Goodwin_Procter_Boston_Office_%28cropped1%29.jpg)
In 1912, lawyers and former Harvard classmates Robert Eliot Goodwin and Joseph Osborne Procter, Jr. ran into each other on the street and decided to start their own law firm, Goodwin & Procter, which opened its offices on July 1 that year at 84 State Street in Boston. That winter, Robert Goodwin and Amos Taylor represented Mary Newell against the Oceanic Steam Navigation Company for the sum of $110,400 resulting from the April 15, 1912 sinking of the RMS Titanic.[24] Another case taken on in the firm's early days stemmed from the infamous pyramid scheme orchestrated in Boston by Charles Ponzi. After the scheme was exposed as fraud, Robert Goodwin served as the bankruptcy referee for Middlesex County amid thousands of recovery claims in the bankruptcy courts.[25][citation needed] When the United States joined the allied cause in World War I in 1917, Robert Goodwin joined the country's vanguard deployment in France, eventually rising to the rank of colonel and assuming command of the 101st Field Artillery. After the campaign, he was awarded the Distinguished Service Medal.[26][citation needed] Not long after, Samuel Hoar V, a litigator, was hired, followed by Fred Tarbell Field, a well-respected tax lawyer who was a friend of Procter's, and the firm became known as Goodwin, Procter, Field & Hoar. In early 1929, Field was appointed a justice of the Supreme Judicial Court of Massachusetts (and would later become its Chief Justice), and the firm was renamed Goodwin, Procter & Hoar, a name it would retain for the next 72 years. The Depression years proved pivotal for the firm's future diversification and growth. Liquidation cases, including the unwinding of the Boston Continental Bank, provided a surge of business,[27] as did the proliferation of federal agencies and regulations brought on by the New Deal.[28] Around the same time, Greater Boston's manufacturing and maritime industries faded and the financial management industry expanded, presenting new opportunities for work on highly complex financial transactions.
Goodwin Procter also undertook matters involving public service and public policy, including public investigations of corruption and malfeasance, as well as cases with constitutional overtones. When the Massachusetts governor pardoned New England Mafia boss Raymond Patriarca in 1938, the resulting public furor led the Legislature to establish a commission to investigate the state's pardon and parole procedures. Sam Hoar, with Don Hurley as his lieutenant, headed the commission, whose resulting investigation led to reform of the pardon laws and impeachment of a member of the Governor's Council.[29] More than 70 years later, the Commonwealth would once again call on Goodwin Procter lawyers to examine alleged corruption in the state's parole office.[30]
![](http://upload.wikimedia.org/wikipedia/commons/thumb/3/37/New_York_Times_building.png/220px-New_York_Times_building.png)
After World War II, partners Leonard Wheeler and Frank Wallis played instrumental roles in the historic Nuremberg Trials, presenting much of the Americans' case against the Nazis.[31][32] "It was a most amazing and thrilling experience," recalled Wallis. "I was speaking to the world - not only the world of today but the world of future generations."[33] Post-war practice would not be business as usual as the firm reached a generational turning point, with Robert Goodwin entering semi-retirement and Sam Hoar's passing in 1952.[34] (Joe Procter had died earlier in 1932.)[35] Goodwin formally retired in 1963, ending a 60-year legal career; he died in 1971.[36]
In 1960, tax partners Allan Higgins and Charlie Post helped draft and secure passage of the Real Estate Investment Trust Act,[37] which was hailed as a significant catalyst for real estate development across the country.[38] In 1963, partner Don Hurley played a role in conceiving, drafting and securing passage of an amendment to the Bank Holding Company Act exempting parent companies of single banks and non-banking subsidiaries from federal restrictions on commercial banks.[39]
In 1969, after more than a half-century in the India Building at 84 State Street, the firm moved to a new office tower at 28 State, where it would remain for 16 years before moving to Exchange Place at 53 State Street in 1985.[40] To celebrate its 75th anniversary in 1987, the firm made a donation of $1 million to the City of Boston to fund initiatives in public education. The donation, called SEED (Support for Early Educational Development), was made up entirely of individual contributions by the firm's partners.[41][42]
With 280 lawyers, Goodwin Procter entered the 1990s as the “largest law firm under one roof in the country,” according to Massachusetts Lawyers Weekly.[43] The firm made its first foray outside Boston in 1994 with an office in Washington, D.C., followed by one in New York in 1997. The acquisition of 27 lawyers from a northern New Jersey firm and 13 litigators from a New York products liability shop bolstered the firm's IP and litigation practices in New York.[44]
In 1998, Regina Pisa became the first woman to be named Chairman and Managing Partner of an AmLaw 100 firm.[45] Under Pisa's leadership, Goodwin grew from 300 lawyers primarily in Boston to more than 900 lawyers serving clients from eight locations in the United States, Europe and Asia. In 2004, the firm merged with the Washington, D.C.-based litigation and regulatory mid-sized firm Shea & Gardner.[46] The following year over 60 attorneys from Testa, Hurwitz & Thibeault joined Goodwin Procter as Testa Hurwitz dissolved,[47] a move the Boston Globe called possibly "the biggest coup in Boston legal history."[48] Goodwin first established its West Coast presence in 2006, opening offices in Los Angeles and San Francisco.[49] It launched its Silicon Valley presence in 2007.[50] The firm went global in 2008 with offices in London and Hong Kong.
At its century mark in 2012, Goodwin had 850 lawyers and another 720 professional staff serving clients from offices in the United States, Europe and Asia. As part of its centennial celebrations, the firm started its Annual Days of Service tradition, during which employees in each office give back to their communities. In 2015, Goodwin announced the opening of an office in Frankfurt, Germany.[51] In April 2016, Goodwin opened its third European office in Paris, France.[52] Later that year, the firm moved its Boston home to 100 Northern Avenue in the city's Seaport District after more than 100 years at the corner of State and Congress Streets. Two years later, Goodwin announced a significant expansion of its European Private Equity and Private Investment Funds practices with a group comprising the bulk of the market-leading and former SJ Berwin investment funds team.[53] In 2019, Goodwin opened new offices in Santa Monica, Luxembourg and Cambridge.[54][55][56]
Rankings and Reputation[]
Goodwin has been consistently ranked as one of the most prestigious law firms in the United States.[57] The firm ranks 26th on the American Lawyer’s annual ranking of U.S. law firms by gross revenue,[58] and its lawyers and practice groups are consistently recognized by Chambers,[59] U.S. News and World Report,[60] and Legal 500.[61] Legal Business named Goodwin to its list of top 30 global firms.[62] U.S. News and World Report has named Goodwin Biotechnology Law Firm of the Year five times.[63]
Among others, recent recognition includes:
2019
- Forbes named Goodwin one of America’s Top Trusted Corporate Law Firms, recommending the firm’s Private Equity and Venture Capital practice areas[64]
- Goodwin ranked sixth among the world's best law firms to work for, according to an American Lawyer survey of 2019 summer associates[65]
- The Legal 500 UK Awards selected Goodwin as the Investment Fund Formation and Management Firm of the Year[66]
- Goodwin was named “Law Firm of the Year” for Mass Tort Litigation / Class Actions – Defendants by U.S. News – Best Lawyers[67]
- Human Rights Campaign recognized Goodwin as a Best Place to Work for LGBTQ Equality[68]
- Mergers & Acquisitions magazine named Goodwin M&A Mid-Market Law Firm of the Year[69]
- India Business Law Journal named Goodwin a Key Player in India for the 11th consecutive year[70]
2018
- BTI Consulting Group ranked Goodwin among 30 best law firms for client service[71]
- U.S. News & World Report – Best Lawyers named Goodwin Real Estate Law Firm of the Year[72]
- Working Mother magazine named Goodwin one of Best Law Firms for Women for the ninth consecutive year[73]
2017
- M&A Atlas Awards named Goodwin Outstanding U.S. Private Equity Law Firm of the Year[74]
- Goodwin was named IP Firm of the Year at LMG Life Sciences Awards[75]
- Law360 named Goodwin's Life Sciences and Intellectual Property practices Practice Groups of the Year, with the latter practice earning that recognition for the third consecutive year[76][77]
Founders Workbench[]
In 2010, Goodwin launched Founders Workbench, a first-of-its-kind open source legal advisory resource[78] designed to help entrepreneurs navigate the legal and organizational challenges faced by startups and emerging businesses, with free start-up document creation capability.[79] In March 2013, Goodwin launched an updated version of Founders Workbench, which now included legal documents for establishing Limited Liability Companies (LLCs) and introduced new web mobile apps for managing finances and understanding relevant legal and business terms.[80] The site has been recognized by the Legal Marketing Association,[81] InformationWeek,[82] and CIO.[83]
See also[]
References[]
- ^ March 04, Patrick Smith |; PM, 2021 at 07:40. "Goodwin Rides Life Sciences, Private Equity and Tech to 20% Profit Growth". The American Lawyer. Retrieved 2021-03-06.
The firm’s total revenue was $1.49 billion, while profits per partner were up to $2.88 million from $2.61 million in 2019. Net income was up 20.4%, and the firm increased the size of its equity partnership.
- ^ March 04, Patrick Smith |; PM, 2021 at 07:40. "Goodwin Rides Life Sciences, Private Equity and Tech to 20% Profit Growth". The American Lawyer. Retrieved 2021-03-06.
The firm’s total revenue was $1.49 billion, while profits per partner were up to $2.88 million from $2.61 million in 2019. Net income was up 20.4%, and the firm increased the size of its equity partnership.
- ^ "Firms Ranked by Gross Revenue". The American Lawyer. Retrieved 2016-04-26.
- ^ Strom, Roy (19 May 2021). "Goodwin Procter Eyes Mid-September for Flexible Office Return". Bloomberg Law. Retrieved 2021-05-19.
Goodwin Procter’s revenue rose more than 11% in 2020 to $1.49 billion while its profits per equity partner were up more than 10% to $2.88 million, according to the latest Am Law data. It is one of the fastest-growing firms in Big Law.
- ^ Tribe, Meghan (25 March 2021). "How Goodwin's Big Bet on Tech 'Convergence' Pushed Up Revenue". Bloomberg Law. Retrieved 2021-05-19.
- ^ "Goodwin Procter". Forbes. Retrieved 2020-01-08.
- ^ April 29, Xiumei Dong |; AM, 2019 at 06:00. "How Goodwin Became a Household Name in California's Startup Community". The Recorder. Retrieved 2020-01-08.
- ^ "Goodwin Opens Life Sciences and Technology-Focused Office in Cambridge, United Kingdom". AP NEWS. 2019-11-06. Retrieved 2020-01-08.
- ^ "Corporate & Commercial Litigation Lawyers | Goodwin". www.goodwinlaw.com. Retrieved 2020-01-08.
- ^ Campbell, Kyle (2018-09-10). "Law firm launches pioneering proptech practice". Real Estate Weekly. Retrieved 2020-01-08.
- ^ "Goodwin's PropTech Group Eyes A Burgeoning Sector - Law360". www.law360.com. Retrieved 2020-01-08.
- ^ "Fintech". www.goodwinlaw.com. Retrieved 2020-01-08.
- ^ "Blockchain Lawyers & Attorneys | Digital Currency | Goodwin". www.goodwinlaw.com. Retrieved 2020-01-08.
- ^ "Fintech". www.goodwinlaw.com. Retrieved 2020-01-08.
- ^ "Goodwin Named Best Lawyers' 2018 Biotechnology Law Firm of the Year". www.goodwinlaw.com. Retrieved 2020-01-08.
- ^ "Law Firm of the Year: Goodwin". Mergers & Acquisitions. 2019-03-18. Retrieved 2020-01-08.
- ^ "Life Sciences Group Of The Year: Goodwin Procter - Law360". www.law360.com. Retrieved 2020-01-08.
- ^ "IP Group Of The Year: Goodwin Procter - Law360". www.law360.com. Retrieved 2020-01-08.
- ^ "LMG Life Sciences - Top attorneys meet for the 2017 LMG Life Sciences Awards". LMG Life Sciences. Retrieved 2020-01-08.
- ^ "LMG Life Sciences - Top firms and attorneys honored at the 6th annual LMG Life Sciences Awards". LMG Life Sciences. Retrieved 2020-01-08.
- ^ Campaign, Human Rights. "Best Places to Work 2019". Human Rights Campaign. Retrieved 2020-01-08.
- ^ "The 2018 Working Mother 60 Best Law Firms for Women". Working Mother. Retrieved 2020-01-08.
- ^ "Goodwin Named a "Best Law Firm For Women" by Working Mother for Ninth Consecutive Year". www.goodwinlaw.com. Retrieved 2020-01-08.
- ^ "TIP - Limitation of Liability Hearings - Claim of Mary E. Newell (Arthur Newell)". www.titanicinquiry.org.
- ^ "Obituaries: R.E. Goodwin, Lawyer; Town, State Official". Boston Globe. July 29, 1971.
- ^ "Distinguished Service Cross Recipients, World War I, 1917-1918" (PDF). U.S. Department of Defense. August 17, 2019.
- ^ "Goodwin Centennial Book" (PDF). Goodwin. August 17, 2019.
- ^ "Franklin Delano Roosevelt and the New Deal - American Memory Timeline- Classroom Presentation | Teacher Resources - Library of Congress". www.loc.gov. Retrieved 2019-08-17.
- ^ "Will Call Hurley in Patriarca Inquiry". Boston Globe. 1939.
- ^ "Report Finds 'Systemic Abuse' In Probation Hiring". www.wbur.org. Retrieved 2019-08-17.
- ^ "852 RARE: The Weekly Special – HLSL's Nuremberg Trials Project Grows". etseq.law.harvard.edu. Retrieved 2019-08-17.
- ^ "American Major Frank B. Wallis (standing), a member of the trial counsel and trial preparation legal staff, presents the prosecution's case to the International Military Tribunal at Nuremberg. - Collections Search - United States Holocaust Memorial Museum". collections.ushmm.org. Retrieved 2019-08-17.
- ^ "Centennial Book" (PDF). Goodwin. 2012. Retrieved August 17, 2019.
- ^ "Samuel Hoar Gave Concord Land for Wild Life Sanctuary". Daily Boston Globe. August 19, 1952.
- ^ "Joshua Procter Jr Dies in Hospital". Boston Globe. 1932.
- ^ "Obituaries: R.E. Goodwin, lawyer; town, state official". Boston Globe. July 29, 1971.
- ^ "Goodwin Centennial Book" (PDF). Goodwin. 2012. Retrieved August 17, 2019.
- ^ "REIT Industry Timeline". Nareit. Retrieved 2019-08-17.
- ^ "Goodwin Centennial Book" (PDF). Goodwin. 2012. Retrieved August 17, 2019.
- ^ "Goodwin Centennial Book" (PDF). Goodwin. 2012. Retrieved August 17, 2019.
- ^ Snyder, Sarah (February 11, 1987). "Law Firm Gives $1M to Boston Schools". Boston Globe.
- ^ "Obituary: Robert B. Fraser, JP resident, dies – Jamaica Plain Gazette". jamaicaplaingazette.com. 8 July 2016. Retrieved 2019-08-17.
- ^ "Obituary: Robert B. Fraser, JP resident, dies – Jamaica Plain Gazette". jamaicaplaingazette.com. 8 July 2016. Retrieved 2019-08-17.
- ^ "Goodwin Centennial Book" (PDF). Goodwin. 2012.
- ^ "Goodwin Procter Names New Chairman". The American Lawyer. Retrieved 2014-07-09.
- ^ "Goodwin Procter acquires Shea & Gardner". Washington Business Journal. Retrieved 2004-06-13.
- ^ Kimberly Blanton, How Goodwin Procter won many of Testa's law partners, Boston.com, February 6, 2005
- ^ Kimberly Blanton, How Goodwin Procter won many of Testa's law partners, Boston.com, February 6, 2005
- ^ "Goodwin Procter Establishes West Coast Presence; Opens Offices in Los Angeles and San Francisco". BusinessWire. Retrieved 2006-04-25.
- ^ "Goodwin Procter Opens Office Palo Alto". Goodwin Procter LLP. Retrieved 2007-06-06.
- ^ "With Frankfurt Launch, Goodwin Procter Enters Crowded German Market". The American Lawyer. Retrieved 2016-07-21.
- ^ "Driven By Global Client Demand, Goodwin Extends International Private Equity and M&A Platform into France". Goodwin. Retrieved 2016-07-21.
- ^ "Goodwin Boosts Private Equity and Funds Platform with the Addition of a Significant Private Investment Funds Team in London". www.goodwinlaw.com. Retrieved 2017-04-10.
- ^ March 08, Xiumei Dong |; PM, 2019 at 12:08. "Goodwin Jumps on Silicon Beach Bandwagon". The Recorder. Retrieved 2019-08-17.
- ^ October 02, Dan Packel |; AM, 2019 at 5:00. "Goodwin Becomes Second US Firm to Launch in Luxembourg". Law.com. Retrieved 2019-10-22.
- ^ November 026, Rose Walker |; AM, 2019 at 5:00. "Goodwin Opens in Cambridge to Break Into Tech Market". Law.com. Retrieved 2019-11-06.
- ^ "Top Law Firm Rankings|Vault.com". Vault. Retrieved 2019-08-17.
- ^ April 23, Ben Seal |; AM, 2019 at 09:34. "The 2019 Am Law 100: Gross Revenue". The American Lawyer. Retrieved 2019-08-17.
- ^ "Goodwin". Chambers and Partners. Retrieved 2017-12-05.
- ^ "Goodwin". U.S. News and World Report. Retrieved 2017-12-05.
- ^ "The Legal 500 Rankings". The Legal 500. Retrieved August 17, 2019.
- ^ Field, Matthew. "Swoop to conquer – a turbulent year for US firms in London but no retreat | www.legalbusiness.co.uk". www.legalbusiness.co.uk. Retrieved 2017-04-10.
- ^ "Goodwin Named 2017 Biotechnology Law Firm of the Year by U.S. News & World Report – Best Lawyers". Goodwin Procter LLP. Retrieved 2017-12-05.
- ^ "America's Top Trusted Corporate Law Firms 2019". Forbes. Retrieved 2020-01-08.
- ^ September 23, Dylan Jackson |; AM, 2019 at 05:30. "The 2019 Summer Associates Survey: Wined, Dined and Worried". The American Lawyer. Retrieved 2020-01-08.
- ^ "The Legal 500 UK Awards 2020: Law Firm Shortlist". www.legal500.com. Retrieved 2020-01-08.
- ^ "Goodwin - Rankings". bestlawfirms.usnews.com. Retrieved 2020-01-08.
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- ^ "Law Firm of the Year: Goodwin". Mergers & Acquisitions. Retrieved 2019-08-17.
- ^ Editor, Vantage Asia (2019-07-20). "Leaders of the pack: India foreign law firms report 2019". Vantage Asia. Retrieved 2019-08-17.CS1 maint: extra text: authors list (link)
- ^ "In-House Attys Name Best Firms For Client Service - Law360". www.law360.com. Retrieved 2019-08-17.
- ^ "Goodwin - Firm Overview". bestlawfirms.usnews.com. Retrieved 2019-08-17.
- ^ "The 2018 Working Mother 60 Best Law Firms for Women". Working Mother. Retrieved 2019-08-17.
- ^ "M&A Atlas Awards Gallery – Global MA Network". Retrieved 2019-08-17.
- ^ "LMG Life Sciences - Top attorneys meet for the 2017 LMG Life Sciences Awards". LMG Life Sciences. Retrieved 2019-08-17.
- ^ "Life Sciences Group Of The Year: Goodwin Procter - Law360". www.law360.com. Retrieved 2019-08-17.
- ^ "IP Group Of The Year: Goodwin Procter - Law360". www.law360.com. Retrieved 2019-08-17.
- ^ "When making things free means gaining more interest". www.abajournal.com. Archived from the original on 2016-09-13. Retrieved 2015-08-18.
- ^ Watters, Audrey (November 15, 2010). "Legal Documents for Your Startup".
- ^ "New Founders Workbench Helps Entrepreneurs Kick Start Their Business Ventures | Blog | One North Interactive". Retrieved 2015-08-18.
- ^ "Legal Marketing Association : 2014 - Website Individual". www.legalmarketing.org. Retrieved 2015-08-18.
- ^ "InformationWeek Names Goodwin Procter to 2011 List of Top Technology Innovators in America". www.goodwinprocter.com. Retrieved 2015-08-18.
- ^ "CIO 100 2011 Winner Profile: Goodwin Procter". CIO. Retrieved 2015-08-18.
External links[]
- Law firms based in Boston
- Intellectual property law firms
- Biopharmaceutical law firms
- Law firms established in 1912
- 1912 establishments in Massachusetts