Pennie feels the Pinch

Pennie & Edmonds, one of the biggest intellectual property firms in New York, announced today that it will be closing its doors New Year's Eve.  Many lawyers will go to Jones Day.  Many staff will be pounding the pavement.  
The American Lawyer article's spin is that the demise of P & E is part of a trend of IP boutiques being swallowed by general practice firms.  The IP boutique where I once worked in New York merged with a GP firm just after i moved to California.  About that time there was a fierce rivalry between the IP firms the GP firms, it seemed.  Generally, the IP firms said the general litigators didn't understand patent law or technology and probably never would (not being scientists by training).  There was some truth to that but also much hubris.  The general litigators said the patent lawyers didn't understand litigation and weren't suited to it, especially as jury trials became more prevalent.  There was some truth to that but also much hubris.  Then each got to prove their stuff.  
It became clear that some litigators without technical training could learn patent law, learn their client's technology and kick the patent lawyers' butts in court.   And some patent-barred lawyers could learn litigation skills and likewise kick the general firms' butts.  Smart lawyers can learn anything.  Litigators with hardcore tech degrees jumped to GP firms so they wouldn't have to share litigation profits with their former buddies who prosecute patents and can't bill as much.  Patent boutiques hired a few courtroom racehorses without science degrees to team with their tech talent.  All the firms are better for it.  Either way, a big patent war like Qualcomm v. Ericsson or Altera v. Xilinx or Applied Materials v. ASM takes a lot of lawyers on both sides, pawns as well as knights and queens, so small firms were Ms. Congeniality at many beauty contests.  But the pay raises of 2000 led directly to the layoffs and brobecks of recent years.  Now there's actually opportunity for lean mean medium sized boutiques to provide great work at lower price.  These are interesting times.   Meanwhile, New York firms:  find a Pennie (alum), pick it up;  All the day you'll have good luck!