Biotechnology Now a Key Practice Area for Leading Law Firms - A Guide for Biotech Legal Professionals

Summary

Biotechnology has become a hot commodity in law firm practices. Law firms are now providing legal services related to patent protection, corporate investigations, and regulatory compliance in this burgeoning field. Firms are also taking on additional roles, such as negotiating licenses and contracts, dealing with financing and litigation, and providing business advisory services.


Biotechnology is a rapidly evolving industry, and as such, it requires specialized legal services in order to keep up with its growth. Companies in this field must answer questions about intellectual property protection, dispute resolution, safety regulations, and other legal issues. As such, law firms are now providing biotechnology-specific legal services to help their clients stay ahead of the curve.

One of the most important services provided by law firms relating to biotechnology is in the realm of patent protection. Firms advise companies on the best ways to protect their intellectual property, and on how to obtain and maintain patent rights. This includes providing advice on filing for patents, as well as defending against possible infringement. Additionally, law firms are providing advice on managing patents within a company's portfolio, and on ways to increase the value of their patents.

Law firms are also advising companies on corporate investigations, as well as regulatory compliance. Biotech companies often need to conduct internal investigations and need guidance on how to stay compliant with government regulations in the field. As such, law firms are providing this service, as well as helping to navigate mergers and acquisitions, and other corporate strategies.

Other services provided by law firms in the biotechnology field include negotiating licensing agreements, assisting with financing and litigation, and providing business advisory services. Firms are helping companies determine the best strategies for conducting business in this field, including how to structure and negotiate deals between biotechnology companies.

Biotechnology is an ever-evolving industry, and law firms are meeting the challenge of providing specialist legal services in this field. Law firms are now offering biotechnology-specific legal services, including patent protection, corporate investigations, and regulatory compliance, as well as negotiating licenses and contracts, dealing with financing and litigation, and providing business advisory services. Their role in the biotechnology field is becoming increasingly important, and their services are proving invaluable for their clients.
 

Biotechnology is the Future of Law Practices

In recent years, biotechnology has become one of the hottest commodities for law firms. This technology is increasingly influencing the legal services offered by these firms, in order to better serve the needs of their clients. As more people invest in and rely on biotechnology, the need for legal advisors with specialized knowledge on the topic is growing. Many law firms are recognizing this, and are investing in biotechnology-related practice groups in order to take advantage of this growing trend.
 

The Benefits of Biotechnology Law Practice Groups

Biotechnology law practice groups offer a range of legal services that cover everything from researching and developing new products to obtaining patents, copyrights, and trademarks. By having a specialized practice group dedicated to biotechnology, law firms can ensure that they are up to date on all of the latest developments in the industry and are able to provide their clients with the most comprehensive legal advice available. Moreover, these groups can provide clients with invaluable insight into the potential legal implications of their biotechnology investments.
 

High Demand for Biotechnology Attorneys

As more investors become interested in biotechnology, the need for biotechnology-savvy attorneys has never been greater. Companies and investors are constantly looking for legal advice on the latest developments in the industry, as well as guidance on potential investments. Law firms that have biotechnology practice groups are in the best position to provide this guidance and are in high demand. As such, recruiting attorneys with biotechnology experience has become increasingly important for law firms.
 

Growing Opportunities for Attorneys

The growth of biotechnology-related practice groups has opened up new opportunities for attorneys. Not only is there a high demand for attorneys with knowledge of the biotechnology industry, but there are also plenty of opportunities for attorneys to specialize in this area. By focusing their practice on biotechnology, attorneys can ensure that they are up to date on the latest industry developments and trends, and can therefore provide the best legal advice possible to their clients.

Law firms are developing and expanding their biotechnology practices, bulking up their staffs with lawyers experienced in patent, intellectual property, and regulatory practice areas, as well as those with knowledge in science and research.

In October, Winstead, Sechrest & Minick P.C. launched a full-service biotechnology practice at its firm in The Woodlands, TX. About 25 of the firm's 320 lawyers work on biotech cases.

"We see a real opportunity out there in biotechnology," said Jeff Harder, head of the firm's biotechnology practice. "This was kind of a hot topic in 1985 as being 'the next great thing,' and here it is almost 2005 and it still is a hot topic and still 'the next big thing.' That's the staying power and potential of biotechnology."

Biotechnology is to law firms today what the hi-tech industry was to law firms in the 1990s with the explosion of practices focusing on Internet- and telecommunications-related needs.

According to the Biotechnology Industry Organization, based in Washington, DC, the world's largest biotechnology association and advocacy group, there are more than 1,400 biotechnology companies in this country.

Among the hot-topic legal issues in biotechnology practices are the creation and regulation of genetically engineered food and drugs, investor/shareholder lawsuits, and the control of intellectual property through patents.

"Intellectual property is absolutely the most important issue for biotechnology companies, along with efficacy and safety," said Mr. Harder, who specializes in corporate securities transactions.

Mr. Harder recently closed a $37-million-investment deal for the biopharmaceutical company Rejuvenon Corp., which has since started clinical trials for two drug candidates that could combat weight loss associated with cancer.

This past summer, Mr. Harder also worked on a transaction for the Galveston biopharmaceutical company Chrysalis BioTechnology Inc., in which the company was bought for $37.5 million by OrthoLogic Corp. and went public.

Numerous major lawsuits have popped up within the biotech industry over the past few years.

In 2000, U.S. farmers filed a class-action lawsuit against the makers of StarLink, a bio-engineered corn that accidentally entered the food supply, alleging StarLink hurt their business. The case was eventually settled for $112.2 million.

In 2002, the biotech firm ImClone Systems Inc. was involved in a high-profile case when its former chief executive, Sam Waksal, was convicted for insider trading after ImClone's experimental cancer drug, Erbitux, initially did not receive its widely expected FDA approval.

Michael Gaba, a partner at Holland Knight LLP, said the legal field is "playing catch up" to a biotech industry that keeps "pushing the envelope."

"As far as legal issues a company has in dealing with a breakthrough technology, they clearly have issues related to intellectual property," Mr. Gaba said. "The complexity of the technology relates to the complexity of the legal issues."

Mr. Gaba co-chairs Holland & Knight's 75-member Health Law team and the 25-member Food and Drug team at its Washington,DC, office, which provides a full range of services to biotechnology, pharmaceutical and medical-device clients, including corporate finance and structuring, intellectual property litigation and regulatory components at the federal level and in several states.

The firm, which works with approximately a dozen biotech-related clients at a time, has had its health team for many years but started its food and drug team about a year ago.

Mr. Gaba, who specializes in legislative and litigating healthcare practices, has worked with many clients on "combination products, such as medical devices that are part device and part biotechnology," including a device with human skin cells that can aid a diabetic with a foot ulcer generate new skin and a surgical patch that includes bovine pericardium to help heal wounds.

Perhaps the biggest day in science recently was the announcement in 2000 that scientists had mapped the human gene. In the years since, numerous requests have come from various companies seeking patents related to the project from the U.S. Patent and Trademark Office.

Dale Rieger, a principal with Fish & Richardson P.C.'s San Diego office, specializes in U.S. and foreign biotech and pharmaceutical patent prosecution. Biotech is one of the leading sectors in southern California.

Mr. Rieger, who holds a Ph.D. in organic chemistry and worked as a research scientist for 15 years before moving on to patent law, has worked mainly with small- to mid-size biotech and pharmaceutical companies. One client is in Phase 3 clinical trials on a new treatment for pulmonary arterial hypertension, a potentially fatal disease. Another client is working on asthma treatments for individuals who cannot use standard inhalers.

Mr. Rieger said the law field's involvement with biotechnology is "a little of the chicken and the egg.

"As one expands, the other will go with it," he said.

Are you looking for attorney jobs in healthcare Industry then click here.