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Fenwick & West continues to ride a wave of unqualified success. Although shunning the rapid geographical expansion undertaken by Bay Area competitors, Fenwick has seen its coffers continue to swell - 1998's $88 million revenues represented a 35 percent increase over 1997's figures. In 1999, the firm reported another year of impressive growth with $100.8 million in revenues and profits-per-partner, among the highest in Silicon Valley. In the beginning there was William Fenwick Many technology law gurus throughout Silicon Valley claim to have been there at the creation. William Fenwick can claim to have been there before the creation. While a student in 1968, Fenwick authored a dissertation titled "Automation and the Law: The Challenge to the Attorney." The paper's conclusions must have been happy ones, as Fenwick and colleagues (including now-retired name partner Henry West: at the time, a refugee from New York's Cleary, Gottlieb, Steen & Hamilton) set out to provide sophisticated legal services in the next high-tech mecca. After considering promising locations in Florida and North Carolina, the founders eventually settled on Palo Alto, and opened shop in 1974. The Apple of my eye In 1975, Fenwick & West's offices were graced by the presence of two young entrepreneurs by the name of Steve Jobs and Steve Wozniak. The two Steves enjoyed their first few sessions at Fenwick free of charge. In comments to The Recorder, William Fenwick recalled their meeting. "I was interested in them for what they were trying to do," Fenwick mused, adding: "but that didn't impact the reasons I didn't charge. I didn't charge them because I didn't think they had any money. They were in sandals. And my recollection was that Jobs had very long hair. They were pretty scruffy looking." Fenwick and Apple would build a solid relationship - Apple chose Fenwick to defend it against a series of antitrust cases alleging Apple had a monopoly in personal computers. Despite the close ties, however, Apple turned to Fenwick competitor Wilson, Sonsini, Goodrich & Rosati for its IPO, a move that William Fenwick would later call "one of the biggest disappointments in my personal experience in Silicon Valley." A window to the New Economy Happily, however, other clients kept business rolling in. In 1977, a 19-year old whippersnapper by the name of Bill Gates asked Fenwick to license a new product known as Microsoft "Basic." A small startup known as Sun Microsystems chose the firm to protect its early trademarks. An eight-person company called Oracle hired the firm to handle its software contracts and IPO. VC guru John Doerr sought Fenwick's advice in creating a cable Internet venture known as @Home. The secrets to Silicon Valley success Beyond the shimmering client list, firm chairman Gordon Davidson has indicated several reasons for Fenwick's good fortunes. First, the firm insists on collecting bills. "We use it as a management tool to get everyone focused on collection," Davidson told The Business Journal in February 1999, adding: "Many law firms are notoriously bad business managers or work for clients who don't pay." Second, Davidson has noted that Fenwick's average for billable hours for partners exceeds that for its associates. Finally, Fenwick has boosted productivity by upping its associate / partner ratio from 2:1 to 3:1. Corporate work, Palo Alto style Unlike many firms of similar size, corporate work supplies the largest chunk (around 40 percent) of Fenwick's revenues. The firm's corporate attorneys focus primarily on the following areas: Venture Backed Start-Up Companies, Emerging Companies, Mergers and Acquisitions, Public Offerings and Securities Law Compliance, and Executive Compensation. On the M&A end, notable deals include VeriSign's $17 billion acquisition of Network Solutions Inc. (the largest Internet acquisition to date), Excite's $7.2 billion merger with @Home, and Veritas Software's $2 billion acquisition of the NSMG software division of Seagate Technology. In September 1999, Fenwick helped Cupertino-based Adforce through a $500 million acquisition by Massachusetts-based Internet networking powerhouse CMGI Inc. Fenwick has also had a hand in a long list of high profile public offerings, including those for @Home, eBay, Excite, Flycast Communications, Intuit, Onsale, and Marketwatch.com. Other corporate clients include Sun Microsystems, Symantec, Integrated Systems, Corel, and companies in nearly every high-tech nook. Litigation potential Despite the predominance of corporate work, Fenwick's traditional strengths have been in litigation. In the early days, the firm handled much of Apple's litigation needs, and William Fenwick himself litigates across a wide variety of areas. Litigation work draws about 30 percent of Fenwick's revenues, although The American Lawyer in August 1999 noted that the group "represents Fenwick's greatest area of untapped potential." Fenwick's litigators specialize in the following areas: Antitrust, Franchise and Distribution; Complex Business Disputes; Counterfeiting/"Piracy"/Gray Marketing; Copyright; Employment and Labor; Federal Trade Commission; Intellectual Property Ownership and Transfers; Internet/Online Commerce; Patents Securities; Software Performance; Tax Litigation; Trade Secrets/Unfair Competition; Trademark; and White Collar Crime. Fenwick's IP menace Although the firm has been largely successful in shaking its image as an "Intellectual Property Boutique," the firm's IP group continues to be a center of core competency. A significant number of the lawyers in the group and other practice groups of the firm have technical degrees, including advanced degrees in engineering, computer science, mathematics and other technical disciplines, and substantial experience working as programmers, engineers, and other roles in various high technology industries. These technical skills enable the firm to render some of the most sophisticated advice anywhere in the world with respect to cutting-edge technologies and the intellectual property rights related to them. Attorneys in the group have lectured widely and published articles concerning newly emerging issues raised by the development, application and commercialization of technology.
Hit the books hard Despite the few who associates who claim that Fenwick has taken the "hire warm-bodies approach," the majority of insiders tell Vault.com that "Fenwick is very grade conscious." Although "the job market definitely favors applicants right now," the firm is still "fairly selective and won't take you just because you have enough breath to fog a mirror." Besides grades, alma maters matter. "You should be from a top 10 law school, preferably Boalt or Stanford, or be in the top 10 percent of your class with an interesting life experience," explains one third-year. And what if you don't make the grades cut? Associates tells us you are "not welcome" at Fenwick & West. Ouch! Beyond grades, the firm looks at intangible credentials. A corporate second year notes that besides a great resume, Fenwick requires "an amorphous 'fit' criteria that for whatever reason could prevent even an otherwise highly qualified candidate from getting an offer." When making that fit, "intelligence & extroverted personality" seem to play a role; as does "the way you work and get along with others." Taxing requirements Just in case you're not intimidated by job prospects at Fenwick & West so far, the tax department is here to help change all that. "In my department (tax) getting hired is highly competitive," one associate tells Vault.com flatly. Another goes into further frightening detail: "In the tax department, it is very difficult to get hired. We only actively recruit top 5 percent students from 5 schools - Harvard, Stanford, Boalt, NYU LLM, and Georgetown LLM." Keep that in mind when filling out your law school applications!
Good people, good clients, and great IP Associates love their colleagues at Fenwick & West, and many name them as the best thing about working there. "As law firms go, I don't think you can do better," remarks one associate. Ads another: "It's a good firm with good people and interesting work." The praise doesn't end there. While one associate told Vault.com that they "will not stay here long term," most agree that Fenwick is "among the most livable of environments." A mid-level associate explains further: "This place is definitely one of the best places to work. As a lateral, I can't imagine working anywhere else. They really treat us well." The firm makes sure there are plenty of opportunities for associates to get together - from firm dinners to "more parties and events than anyone wants to attend." Fenwick held its Christmas party at the San Francisco MOMA in 1999. I want to be free! Fenwick associates enjoy a unique free market system that allows the associates "to move between practice groups and work with different partners." Associates are empowered to seek out the deals they wish to work on and the partners they wish to work with, allowing for a broad range of work. Many associates pile on praise for the "flexibility" the free market system provides "in setting [their] own career path." Besides great career possibilities, associates feel that the free market approach creates a "congenial atmosphere" and helped the firm receive high marks for satisfaction across the board. Associates control their own hours? Thanks to the free market system, the Fenwick associates ultimately decides their own fate. As one lucky corporate attorney explained: "In the free market system it is always your own fault if you work too hard. There is no stigma attached to turning down work. The only hard part is learning how to say no tactfully Associates estimate they bill "250 fewer hours annually" than their counterparts at other Bay area firms. "The firm is very good about allowing associates to choose their own lifestyle. Those that wish to bill 1800 are certainly allowed." Ultimately, the firm cares about good work product - and not how much - with an emphasis as "much on quality as quantity of work." Just be careful around partnership time. Insiders report that to clinch a partnership position, associates should "work like a dog and say yes to everything and everyone in the year prior." How much do you want to make? Associates even have control over their paycheck at Fenwick & West There are two pay scales - one for an 1800 billable hour track and another for billing 1950 hours. Many associates elect the 1800 hour level and they feel that the "salary is very generous" given that "an 1800 minimum billable is quite low by law firm standards today." Those who bill at the 1950 level are also happy, commenting that their pay is "great," though a few grumbled that the cost of living in northern California is so high that associates shouldn't "expect to be able to buy a home until you are a partner." The door is always open - but many will never use it Associates at Fenwick believe that their firm has one of the best retention rates in the region. "Relatively speaking, retention is pretty good here. All Silicon Valley firms lose associates to dot com startups, but we don't lose very many at all to other firms. The feeling seems to be that if you're going to work at a law firm, this is a good place to be," explains one associate. A second noted that "by Silicon Valley standards, turnover is extremely low."
Carol N. Ida Professional Recruiting Manager Fenwick & West LLP1 Two Palo Alto Square Palo Alto CA 94306
Brobeck, Phleger & Harrison; Cooley Godward; Gunderson Dettmer Stough Villeneuve Franklin & Hachigan; Venture Law Group; Wilson Sonsini Goodrich & Rosati; More Company Profiles For more career information, go to Vault.com ©2000, Vault.com Inc
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