Firm Profiles
IN-DEPTH RESEARCH REPORT
on Cooley LLP
- - Financial Information
- - Compensation
- - Billing Rates
- - Lateral Partner Moves
- - Pro bono
- - Key Contacts
Cooley
- Designation: Palo Alto
- Head Count: 632
- Gross Revenues: $617,000,000
- Revenue Per Lawyer: $975,000
- Profits Per Partner: $1,495,000
- Year Over Year Change: 7
Cooley may have gotten its start in San Francisco—back in 1920—but for generations of technology companies it has always been the quintessential Silicon Valley firm. Indeed, Cooley was one of the first firms to make Palo Alto a focal point for its work, setting up shop there in 1980 and growing it into its main office. Many a California start–up has seen Cooley guide it to market—and stock market (it handled the IPO for Qualcomm, among others). The firm also has a considerable East Coast presence, 120 lawyers in the Washington, D.C., area and another 75 in New York—complete with bankruptcy, tax, and commercial and white–collar litigation practices—thanks to a 2006 merger with Kronish Lieb Weiner & Hellman.
The combined firm—with more than 600 lawyers—is well known for its expertise in venture capital and private equity, life sciences and technology transactions, mergers and acquisitions, and corporate securities. Clients have included Valley royalty: eBay, Google, Adobe Systems, Gilead Sciences, to name a few. The firm operates ten offices, typically in technology hot spots, and, like many of its Am Law 100 peers, is looking toward China for growth. It opened a Shanghai office, the firm’s first international outpost, in December 2011.
Yet Cooley’s track record hasn’t been unblemished. It struggled during the financial crisis, placing forty–sixth of 84 firms on The American Lawyer’s Recession Performance Index, which looked at how major law firms fared between 2007 and 2009. During that period, Cooley’s revenues suffered a compound annual growth rate of minus 9 percent. The firm also let go of attorneys and staff in two rounds of layoffs in 2009: 52 associates and special counsel, and well over 100 staff. Not surprisingly, Cooley’s corporate and transactional groups were hit hardest.
On noneconomic measures, Cooley earns above average—if not earth–shattering—scores. With minorities comprising 16 percent of its U.S. based lawyers, Cooley finished near the top quarter on The American Lawyer’s 2011 Diversity Scorecard. On pro bono work it ranked in the top third on our 2011 tally (lawyers put in an average of 54 hours of pro bono work). Associate satisfaction fared less well, with Cooley placing in the middle of the pack (sixth–fourth of 126 firms on our 2011 midlevels survey; sixty–seventh of 137 in 2010).
—Updated as of 1/1/12
Firm Rankings
| Survey | Rank | Year Over Year Change | Description |
|---|---|---|---|
| Am Law 100 | 47 | 7 | Gross revenue |
| Am Law 200 | 47 | 7 | Gross revenue |
| NLJ 250 | 63 | no change | Lawyer head count |
| The A-List | 39 | no change | Overall excellence |
| Pro Bono Scorecard | 63 | 17 | Pro-bono commitment |
| Diversity Scorecard | 52 | 1 | Minority head count |
| Midlevel Associates Survey | 64 | 3 | Job satisfaction |
| Summer Associates Survey | 18 | no change | Summer programs |
In the News
Ullyot Exit Closes Chapter for Facebook
Julia Love : The Recorder : May 17, 2013
Atypical Career Path Works for Yelp's GC
Joshua Sisco : The Recorder : May 17, 2013
After an early stint as a paralegal at Morrison & Foerster, Laurence Wilson knew he wanted to forgo the Big Law route in favor of something more entrepreneurial. Now Yelp's general counsel, he says there are both advantages and drawbacks to going in-house right away. "You gain experience at twice the rate as a first-year associate at a big firm, but in a much less formal environment."
Fenwick Sets Course for China
Julia Love : The Recorder : May 16, 2013
Fenwick & West has hired Covington & Burling's Eva Wang as a corporate partner to lay the groundwork for an office in Shanghai -- the Silicon Valley firm's first overseas. Fenwick has felt a great pull to China in recent years as its clients' activity has compelled the creation of new resources to serve them, said firm chair Gordon Davidson.
DCM's Matthew Bonner
Joshua Sisco : The Recorder : May 16, 2013
Practicing law through the dot-com bubble and bust profoundly shaped the former accountant.
Manatt Investment Fund Lands on 'Silicon Beach'
Amanda Bronstad : The National Law Journal : May 15, 2013
Manatt, Phelps & Phillips has launched a division to counsel clients on business opportunities associated with digital media based in Los Angeles' "Silicon Beach." Moreover, the firm has hired an entrepreneur to run its own venture capital fund, which will invest in emerging technology companies.
Fenwick & West Plans Shanghai Launch
Tom Brennan : The Asian Lawyer : May 14, 2013
The Silicon Valley firm has recruited Covington & Burling partner Eva Wang to spearhead a China office, which will be its first outside the U.S.
Surging U.S. IPO Market Yields Gains for Cooley, Hunton
Brian Baxter : The Am Law Daily : May 14, 2013
U.S. companies have already raised $16.8 billion through initial public offerings so far this year and several Am Law 100 firms are reaping the benefits.
In Executive's Trade Secret Prosecution, A Company's Outsized Role
Vanessa Blum : The Recorder : May 14, 2013
The trial of executive recruiter David Nosal for computer hacking and theft of trade secrets drew attention from many quarters.
Fenwick Sets Course for China
Julia Love : The Recorder : May 13, 2013
Our Fine Print Problem and How Lawyers Can Help Fix It
Michael Stern : The Am Law Daily : May 10, 2013
Two recently published books examine all the "fine print" lawyers create and interpret, as well as the opportunity they have to limit its insidious effects on society.
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