As chief operating officer of intellectual property boutique Fish & Neave in 2004, William Glasgow saw his 160-lawyer firm face two simultaneous problems.

The firm’s talented patent litigators were being poached by high-powered corporate firms that were beginning to find an interest in patent litigation and could pay partners double or even triple what they made at a boutique. At the same time, those corporate firms were no longer referring patent work to boutiques like Fish & Neave, dwindling a large source of work.