Goodwin Procter LLP is a global law firm founded in 1912 in Boston, Massachusetts, where it is headquartered.[1] The firm employs over 1,800 lawyers across 17 offices in the United States, Europe, and Asia.[2] It specializes in complex transactional work, high-stakes litigation, regulatory compliance, and advisory services tailored to industries including life sciences, private equity, real estate, technology, and financial services.[1]Goodwin Procter has demonstrated substantial financial growth, reporting gross revenue of $2.244 billion in 2023, which positioned it among the top 20 U.S. law firms by revenue according to The American Lawyer's Am Law 100 ranking.[3] The firm's practice groups have earned recognition for excellence in areas such as investigations, intellectual property, and sector-specific transactions from legal directories including The Legal 500 and Global Investigations Review.[4][5] In response to a 2025 inquiry from the Equal Employment Opportunity Commission regarding diversity, equity, and inclusion practices, the firm disclosed extensive internal documents, including details of terminated affiliations, highlighting its approach to regulatory transparency.[6]
History
Founding and Early Development (1912–1940s)
Goodwin Procter was founded on July 1, 1912, by Robert Eliot Goodwin and Joseph Osborne Procter, Jr., two former Harvard Law School classmates who encountered each other on a Boston street and decided to establish a partnership.[7][8] The firm opened in a modest fifth-floor suite at 84 State Street in the India Building, situated in Boston's financial district, initially handling corporate and commercial matters for local businesses.[1] Robert Goodwin, grandson of New Hampshire's 27th governor and previously associated with another Boston practice, brought experience in litigation, including a notable early case in winter 1912 representing Titanic survivor Mary Newell in a claim against the White Star Line for lost property.[9][10]The firm's initial growth was steady but constrained by its small size; its first associates were hired in 1913, marking the beginning of expansion beyond the founding partners.[11] A pivotal early ethical challenge arose in 1914 when a client's stock prospectus contained inaccurate figures; the partners personally loaned funds to repurchase the shares, thereby averting potential scandal and reinforcing a commitment to integrity that shaped the firm's reputation.[12] By 1917, amid U.S. entry into World War I, the practice continued operations, focusing on advisory work for financial and industrial clients resilient to wartime disruptions.[11]Through the 1920s and into the 1930s, Goodwin Procter navigated economic volatility, including the Great Depression, by maintaining a lean structure and prioritizing long-term client relationships in Boston's core industries such as banking and manufacturing.[11] The firm weathered these years without significant layoffs or contraction, attributing stability to conservative financial management and a focus on verifiable, high-quality legal services rather than speculative ventures.[11] Into the 1940s, as World War II influenced domestic commerce, the practice emphasized regulatory compliance and contract work supporting wartime production, solidifying its role as a trusted advisor in New England's business community while remaining predominantly Boston-based with fewer than a dozen lawyers.[11]
Mid-Century Growth and Specialization (1950s–1990s)
During the post-World War II economic expansion, Goodwin Procter experienced steady organic growth while maintaining its Boston headquarters and single-office structure, focusing on corporate and business law to serve the region's burgeoning industries. By 1960, the firm had grown to 145 lawyers, marking it as a significant player in the local legal market after nearly five decades of operation.[1] This period saw the firm deepen its expertise in tax and corporate matters, building on earlier general practice roots to handle complex transactions for business clients amid national economic recovery and industrialization.A pivotal specialization emerged in 1960 when partners Allan Higgins and Charles Post played a leading role in drafting and advocating for the Real Estate Investment Trust Act, which enabled the creation of REITs and democratized access to real estate investment.[13][14] Goodwin Procter's efforts in lobbyingCongress and shaping the legislation positioned the firm as a pioneer in real estatefinance, fostering long-term expertise in structuring investment vehicles and regulatory compliance for property development. This achievement aligned with broader mid-century trends in financial innovation, enhancing the firm's reputation in tax-advantaged corporate structures.In the 1970s, the real estate practice expanded substantially, contributing to major Boston-area developments and reinforcing specialization in commercial transactions, leasing, and financing.[1] The firm also advanced in mutual fund management and related securities work, capitalizing on regulatory changes and market demand for investment advisory services. By entering the 1990s, Goodwin Procter had reached 280 attorneys, earning recognition as the largest law firm under one roof in the United States according to Massachusetts Lawyers Weekly, reflecting disciplined growth without geographic diversification or mergers during this era.[1] This scale underscored its evolution into a specialized corporate powerhouse, emphasizing depth in real estate, tax, and business law over broad litigation or international reach.
Global Expansion and Modern Era (2000s–Present)
In the 2000s, Goodwin Procter began its international expansion with the establishment of offices in London and Hong Kong in 2008, marking the firm's first forays into Europe and Asia.[15][16] The London office, initially focused on hospitality transactions and real estate fund formation, grew rapidly to support private equity and M&A activities, becoming one of the firm's fastest-expanding international practices.[17] Similarly, the Hong Kong office targeted cross-border private equity and venture capital deals across Asia, building on the firm's U.S.-centric expertise in technology and life sciences sectors.[18] These openings aligned with a broader strategy to serve global clients amid rising demand for specialized corporate advisory in high-growth markets.The 2010s saw further European penetration, with the Frankfurt office opening in 2015 to address real estate, private equity, and M&A opportunities in Germany.[1] This was followed by the Paris office in July 2016, which recruited a team from King & Wood Mallesons to bolster leveraged buyouts and cross-border transactions in France.[19][20] By the early 2020s, the firm continued this momentum, launching a Munich office in April 2022 to enhance its German private equity, venture capital, and real estate footprint, growing to over 20 professionals by mid-2025.[21][22] Additional outposts, such as in Singapore as a second Asian hub, supported expanding client needs in venture financing and growth equity.[1] However, strategic recalibrations occurred, including the planned closure of the Frankfurt office in autumn 2025 and wind-down of the German real estate practice, amid shifting market dynamics and a refocus on core strengths like private equity.[23] In January 2025, the firm opened a Brussels office led by antitrust partner Stephen Mavroghenis from Quinn Emanuel, targeting EU regulatory and competition matters.[24]Throughout the period, Goodwin Procter's modern era has been characterized by robust financial performance and practice leadership, particularly in M&A and private equity. The firm achieved record revenue of $2.7 billion for the year ending September 30, 2025, driven by surges in mergers, acquisitions, and litigation work.[25] It ranked first globally in completed M&A deals for Q3 2025 with 632 transactions—a 115% increase from the prior year—and for the first half of 2025 with 385 deals, reflecting a 22% year-over-year rise.[26][27] With nearly 2,000 lawyers across 17 offices in the U.S., Europe, and Asia by the mid-2020s, the firm emphasized organic growth through lateral hires and investments in high-value sectors, navigating challenges like deal market volatility while prioritizing long-term client relationships in innovation-driven industries.[28][29]
Practice Areas
Technology and Private Equity
Goodwin Procter's Technology practice encompasses full lifecycle legal support for technology companies, founders, and investors, addressing formation, financing, commercialization, regulatory compliance, and exits across subsectors including fintech, insurtech, proptech, blockchain, climate tech, and industrial technology.[30] The group, comprising over 350 lawyers globally, collaborates with the firm's financial services, real estate, life sciences, and healthcare teams to handle complex transactions and navigate evolving regulations such as data privacy and cybersecurity.[30]The Private Equity practice focuses on buyouts, growth equity investments, debt financings, fund formations, and portfolio company operations, with a emphasis on technology, healthcare, financial services, consumer products, and real estate sectors.[31] Services extend to ancillary matters like private equity litigation, intellectual property protection, executive compensation, tax structuring, and labor issues for sponsors, portfolio companies, management teams, lenders, and alternative investors.[31] The practice has advised over 10,000 emerging growth companies, leveraging deep industry relationships to support middle-market deals.[31]These practices intersect in the firm's "capital-meets-innovation" model, where Technology and Private Equity teams jointly represent investors and innovators in high-volume M&A, venture capital, and growth equity transactions, particularly in software, hardware, and advanced manufacturing.[32] In Q3 2025, Goodwin ranked first globally for buyouts and U.S. M&A by deal count, completing 632 transactions—a 115% increase from the prior year—according to LSEG data.[33] Similar top rankings persisted in Q1 and H1 2025 for global private equity stages and venture capital rounds, per The Deal and FactSet.[34][35]Independent assessments affirm the practices' strength: The Legal 500 awarded Tier 1 rankings in 2025 for Private Equity, Venture Capital, and Technology in the U.S., citing expertise in buyouts and tech transactions.[36] Vault's 2026 rankings placed the firm fifth in Emerging Companies & Venture Capital and recognized its Private Equity group for middle-market leadership.[28] Notable representations include co-counsel to Ansys in its $35 billion acquisition by Synopsys, a major technology M&A deal.[37] The firm also supports proptech clients such as Homeward and Kasa Living in real estate technology financings and operations.[38]
Life Sciences and Healthcare
Goodwin Procter's Life Sciences and Healthcare practice advises biotechnology, pharmaceutical, medical technology, and healthcare provider clients on matters spanning the full corporate lifecycle, including startup formation, intellectual property protection, funding, licensing, regulatory compliance, product commercialization, mergers and acquisitions, and exit strategies. The multidisciplinary team integrates corporate, regulatory, IP, and litigation expertise to support innovation in areas such as gene editing, therapeutics development, digital health, and medical devices. With over 230 dedicated lawyers positioned in key innovation hubs across the United States, Europe, and Asia, the practice facilitates cross-border transactions and global expansion for clients navigating complex scientific and market challenges.[39][40]In transactional work, the firm handled more than 230 venture capital financings exceeding $14 billion, 55 M&A deals surpassing $35 billion, 75 equity offerings (including IPOs and follow-ons) raising over $11 billion, and 60 collaborations valued at $14 billion in 2024 alone. The IP group supported over 50 commercial-stage and 200 clinical-stage clients with due diligence, patent prosecution, and strategy amid heightened scrutiny on innovation pipelines. Healthcare-specific services emphasize M&A for providers, venture investments in emerging sectors like women's health, and compliance with privacy, cybersecurity, and reimbursement regulations, often overlapping with life sciences mandates for hybrid clients developing diagnostics or therapeutics.[41][40]The practice has received consistent independent recognition for its depth and impact. In 2025, Goodwin was named Biotechnology and Life Sciences Law Firm of the Year by Best Lawyers for the eighth time, reflecting sustained excellence in advising on high-stakes biotech and pharma issues. LMG Life Sciences designated it a U.S. Life Cycle Firm for the fourteenth consecutive year, awarding 14 practice-area rankings and honoring 34 lawyers as Stars, Rising Stars, or Hall of Fame inductees; it also secured Corporate Firm of the Year and Impact Deal of the Year at the 2025 LMG awards. The Legal 500 ranks the group highly for its work with biotech, pharma, healthcare companies, and life sciences investors, citing sophisticated handling of licensing, securities, and regulatory matters. To strengthen its Boston presence—a core life sciences hub—the firm added partner Felipe Heiderich in May 2025, enhancing capabilities in IP and collaborations.[42][43][44][45][46]
Financial Services and Real Estate
Goodwin Procter's financial services practice encompasses regulatory advisory, transactional work, enforcement defense, litigation, and compliance counseling for clients in banking, consumer finance, and fintech sectors.[47] With over 100 lawyers operating across the United States, Europe, and Asia, the team addresses challenges such as industry consolidation, operational costs, cybersecurity risks, and class action defenses.[47] The practice supports financial institutions in mergers and acquisitions, corporate finance, securities offerings, regulatory compliance, and governance matters.[48]In debt finance, Goodwin represents borrowers, private equity sponsors, and lenders in a range of transactions, achieving recognition as a top firm for borrower-side deals and closing 169 debt deals in 2025.[49] The firm's consumer financial services litigation group specializes in defending class actions and government investigations against financial institutions.[50] These efforts align with broader financial services litigation capabilities that mitigate risks in disputes involving regulatory enforcement and compliance failures.[51]The real estate practice features more than 200 lawyers in the United States, Europe, and Asia, providing full-lifecycle support for investments, including fund formation, capital deployment, acquisitions, dispositions, and operational management.[52] Key sub-practices include real estate private investment funds—one of the largest globally with over 50 years of experience—development and permitting, finance and restructuring, REITs, and operational real estate involving M&A, tax, employment, and regulatory advice.[53][54][55] The firm has pioneered proptech integration and operational real estate strategies, serving over 50% of Private Equity Real Estate's top-ranked managers and more than 50 global hospitality companies.[52]Historically, Goodwin contributed to drafting the Real Estate Investment Trust Act of 1960 and structured the first public REIT using the UPREIT format in 1992.[13] The REIT group has handled the largest REIT initial public offering at $2.3 billion and the second-largest at $1.8 billion, while advising over 30 REITs on governance, securities offerings, SEC compliance, M&A, and activist defenses.[13] Notable representations include advising on three REIT transactions exceeding $24 billion in aggregate value announced in late 2012 and early 2013.[56] In 2018, the practice represented clients in 15 transactions recognized as top property deals by Real Estate Alert.[57] As of 2025, institutional real estate markets have shown increased deal activity, with investors combining real estate and infrastructure elements to drive new fund formations.[58]
Litigation, Regulatory, and Dispute Resolution
Goodwin Procter's Complex Litigation & Dispute Resolution practice represents clients in high-stakes trials, arbitrations, mediations, and negotiations across the United States and Europe, with over 200 litigators focused on industries including technology, life sciences, financial services, and real estate.[59] The group emphasizes compliance counseling, litigation avoidance strategies, and risk management to address complex disputes integrating financial, scientific, and trial elements.[59]In business and commercial litigation, the firm handles matters such as breaches of contract or fiduciary duty, partnership and post-closing disputes, business torts, regulatory investigations, privacy and cybersecurity claims, restrictive covenants, trade secrets, insurance coverage, and bankruptcy proceedings.[60] Representations often prioritize cost-effective resolutions via alternative dispute mechanisms or trials, leveraging technology for e-discovery and presentations, and include expertise in class actions with a track record of favorable outcomes for Fortune 100 clients and industry leaders.[60]Regulatory compliance and advisory services span healthcare fraud and abuse laws, billing and reimbursement, life sciences product approvals, antitrust matters, data privacy, cybersecurity, digital currencies, blockchain, and financial services regulations.[61][62][47] These efforts provide strategic guidance to mitigate enforcement risks and navigate investigations, particularly in healthcare providers, biopharma, and investment entities.[40]Dispute resolution extends to specialized arbitrations in life sciences licensing, technology contracts, real estate conflicts, and mass claims processing under rules from bodies like JAMS and AAA.[63][64][65] The firm has secured victories in matters such as a July 2024 defense win dismissing fraud and breach claims in a chip design M&A earn-out dispute;[66] a 2015 dismissal of a securities class action against seven investment banks;[67] a 2012 appellate reversal of a Native American land claim suit benefiting New York municipalities and businesses;[68] and patent disputes including a 2012 win involving Teva's Copaxone multiple sclerosis treatment.[69]The practice receives consistent recognition for litigation prowess, with Chambers USA 2025 awarding 84 departmental rankings, including in dispute resolution categories.[70] The Legal 500 United States 2025 ranks it in patents litigation, noting capable trial teams for intricate cases.[71] Benchmark Litigation honored nine partners on its 2025 40 & Under List for litigation achievements.[72]
Notable Clients and Representations
Major Corporate Clients
Goodwin Procter represents prominent clients in technology, life sciences, and related sectors, often advising on mergers, acquisitions, financings, and intellectual property matters. In the technology space, the firm has served as counsel to Zuora, a subscription management platform, and co-counsel to Ansys in its $35 billion acquisition by Synopsys announced in January 2024.[37] Other technology clients include Webflow, a visual web development platform, and Lyft, the ride-sharing company, particularly in startup and growth-stage transactions.[73]In life sciences and healthcare, Goodwin Procter advises biotech, pharmaceutical, and medical device companies on deals such as CRISPR Therapeutics' collaboration and licensing agreements, Deciphera Pharmaceuticals' acquisition by ONO Pharmaceutical in 2024 for $2.4 billion, and Prime Medicine's gene editing advancements.[41] Additional clients include Biotheus in its antibody-drug conjugate licensing, Akero Therapeutics in metabolic disease treatments, Kymera Therapeutics in protein degradation therapies, Globus Medical in its $3.1 billion merger with NuVasive in 2023, Royalty Pharma in biopharma royalty acquisitions, Versanis Bio in its $1.9 billion sale to Eli Lilly, ElevateBio in cell and gene therapy platforms, Teva Pharmaceuticals in generics and biosimilars, Seagen in oncology innovations prior to its Pfizer acquisition, and Mablink Bioscience in antibody conjugate technologies.[41][74] The firm also represented Fusion Pharmaceuticals in radiopharmaceutical development before its 2024 acquisition by AstraZeneca.[37]For private equity and investment funds, Goodwin Procter counsels major funds on fund formation, buyouts, and portfolio investments, including Norwest Venture Partners, Bregal Sagemount, and PCCP in real estate and growth equity deals.[75] Novo Holdings, the investment arm of Novo Nordisk, has also been a key client across life sciences investments.[37] These representations underscore the firm's focus on high-value transactions, with over 600 life sciences clients and leadership in mid-market M&A by deal count in 2025.[76][77]
Key Transactions and Cases
Goodwin Procter has represented clients in numerous high-value mergers and acquisitions, with a focus on life sciences, technology, and private equity sectors. In December 2024, the firm advised Novo Holdings A/S on its $16.5 billion all-cash acquisition of Catalent, Inc., a biopharmaceutical services provider, which included the divestiture of three manufacturing sites to Novo Nordisk A/S to address regulatory concerns.[78] The transaction, valued at $63.50 per share, enhanced Novo Holdings' position in drug manufacturing and delivery services.[79]In September 2023, Goodwin counseled Globus Medical, Inc. on its $3.1 billion all-stock merger with NuVasive, Inc., forming a combined entity with expanded musculoskeletal solutions portfolios and global reach.[80] The deal, which integrated complementary technologies in spine and orthopedic devices, was completed after shareholder approvals and regulatory clearances.[81]Earlier landmark transactions include Goodwin's representation of Onyx Pharmaceuticals, Inc. in its $10.4 billion sale to Amgen Inc. in 2013, a cash deal at $125 per share that bolstered Amgen's oncology pipeline.[82] The firm has maintained leadership in M&A volume, ranking first globally by deal count in LSEG's tables for H1 2025 (with involvement in deals totaling over $110 billion across 363 transactions in prior periods) and Q3 2025.[27][26]In litigation, Goodwin has defended against challenges to major deals and secured appellate victories. The firm defeated shareholder class action suits seeking to enjoin the Onyx-Amgen merger, enabling the transaction to proceed without disruption.[83] In July 2024, Goodwin obtained a defense win for three defendants in a California federal court dispute alleging fraud and breach of contract over earn-out payments in a chip design firm's acquisition.[84]Goodwin's appellate practice includes over 20 arguments before the U.S. Supreme Court by its partners, encompassing high-profile intellectual property and regulatory matters.[85] Notable successes feature a unanimous 2012 ruling for client Quicken Loans, Inc., interpreting the Real Estate Settlement Procedures Act to limit liability for unrequested disclosures.[69] In April 2025, the firm prevailed in a pro bono immigration case before the Supreme Court on behalf of a petitioner challenging deportation procedures.[86] These efforts contributed to litigation driving significant revenue growth, alongside M&A, in the fiscal year ending September 30, 2025.[25]
Rankings, Recognition, and Financial Performance
Industry Awards and Peer Rankings
Goodwin Procter has consistently earned high placements in major legal industry rankings, reflecting peer and client evaluations of its expertise in areas such as private equity, life sciences, and technology transactions. These assessments, drawn from independent directories like Chambers and Partners, The Legal 500, and Vault, emphasize the firm's strengths in complex deal work and litigation, though rankings can vary by practice and jurisdiction due to subjective peer feedback and client surveys.[87][88][89]
Directory
Key 2025 Rankings
Chambers USA
84 practice area rankings; 182 individual lawyer rankings across 145 attorneys, including Band 5 in Banking & Finance and Highly Regarded in Corporate/M&A.[70][90]
The Legal 500 US
44 practice rankings; 172 lawyers recognized, with Tier 1 placements in private equity buyouts (middle-market) and investment fund formation.[36][88]
Vault Law 100
#32 overall prestige ranking, based on peer lawyer surveys; #3 Best Law Firms in Boston; #5 for Emerging Companies & Venture Capital.[89][8]
Best Lawyers in America / Best Law Firms
312 lawyers recognized across 68 practice areas; 44 national and 94 regional firm rankings, including Law Firm of the Year for Biotechnology and Life Sciences (eighth time) and prior recognition for Leveraged Buyouts and Private Equity Law.[91][42][92]
Chambers Global 2025 further noted 33 practice rankings and 40 lawyer recognitions, underscoring the firm's international capabilities in private equity and life sciences.[93] Such evaluations, while influential, rely on qualitative inputs from market participants and may not fully capture quantitative metrics like win rates or client retention, which directories often supplement with deal data.
Revenue and Deal Volume Metrics
Goodwin Procter's gross revenue reached a record $2.7 billion for the fiscal year ending September 2025, driven primarily by mergers and acquisitions (M&A) and litigation practices.[25] This marked an increase from $2.448 billion in 2024, as reported in The American Lawyer's Am Law 200 rankings.[94] Prior to that, revenue stood at $2.244 billion in 2023, reflecting steady growth amid investments in expansion.[3]
In terms of deal volume, Goodwin Procter advised on 871 M&A transactions valued at $70 billion in 2023, according to London Stock Exchange Group data.[95] The firm maintained leadership in deal count for global M&A, private equity, and venture capital in 2024, topping league tables across multiple categories including U.S. targets, French deals, and mid-market M&A.[96] For the first half of 2025, it completed 385 global M&A deals, a 22% rise from the prior period, followed by 632 deals in Q3 2025, representing a 115% quarter-over-quarter increase.[27][26] These metrics underscore the firm's focus on high-volume transactional work in technology, life sciences, and private equity sectors, contributing significantly to revenue expansion.[97]
Controversies and Criticisms
Diversity, Equity, and Inclusion Policies
In March 2025, the U.S. Equal Employment Opportunity Commission (EEOC), under Acting Chair Andrea Lucas, sent inquiry letters to 20 law firms, including Goodwin Procter, requesting details on their diversity, equity, and inclusion (DEI) programs to assess potential violations of Title VII of the Civil Rights Act of 1964, which prohibits employment discrimination based on race, color, religion, sex, or national origin.[98] The letters expressed concern that certain DEI initiatives might prioritize demographic identity over merit in hiring, fellowships, or scholarships, potentially constituting reverse discrimination.[99]Goodwin Procter responded in May 2025 by submitting over 200 pages of documents to the EEOC, disclosing that the firm had terminated partnerships with several major DEI-focused nonprofits aimed at increasing minority representation in Big Law, including withdrawals from three prominent diversity pipeline programs.[100][6] This action was framed by the firm as a precautionary measure to align practices with federal anti-discrimination laws, amid broader guidance from the EEOC and Department of Justice warning against race- or sex-based preferences in employment.[101]The firm's decisions drew criticism from diversity advocates and legal recruiters, who accused Goodwin of retreating from commitments to underrepresented groups amid political pressure.[102] One recruiting firm founder publicly labeled the withdrawals "shameful," prompting Goodwin to end its placement agreement with that firm in June 2025.[103] Observers noted the response as part of a trend among elite firms reassessing DEI amid heightened scrutiny, though no formal EEOC enforcement action against Goodwin has been announced as of October 2025.[104]
Political Engagements and Pro Bono Priorities
Goodwin Procter's lawyers and partners have directed the majority of their political contributions to Democratic candidates and committees, with data from the 2020 election cycle showing approximately 96.5% of itemized donations—totaling over $633,000—favoring Democrats compared to under $23,000 for Republicans.[105] This pattern persisted in subsequent cycles, as evidenced by Federal Election Commission records of individual contributions from firm affiliates to entities such as the Democratic Congressional Campaign Committee, Kamala Harris's campaign, and Democratic Senate candidates like John Hickenlooper and Kirsten Engel in 2023 and 2024.[106][107] The firm's lack of a formal political action committee amplifies the influence of personal donations, reflecting the ideological leanings common among professionals in Boston- and New York-based practices serving tech and finance sectors.[108]In lobbying, Goodwin Procter has represented corporate clients before federal agencies and Congress on issues including natural resources, energy policy, clean air and water regulations, and health care, with reported expenditures exceeding $40,000 in 2013 alone across multiple clients.[109] Recent engagements include advocacy for mining firm Newmont Corp. on natural resources matters since 2023 and for Medical Properties Trust on health-related policies, with quarterly lobbying revenues in the $10,000 to $70,000 range as of 2024.[110][111] These activities, tracked under the Lobbying Disclosure Act from 2002 to 2023, typically involve regulatory compliance and legislative advocacy rather than ideological campaigns, serving clients in extractive industries and real estate investment trusts.[112]The firm's pro bono priorities center on economic empowerment for underserved communities through the Neighborhood Business Initiative (NBI), established in 2001, which delivers free legal services to low-income entrepreneurs for entity formation, contract drafting, and financing to promote wealth creation and equity in urban neighborhoods.[113][114] Additional focus areas encompass family stabilization via legal aid for housing and custody issues, access to advanced education through nonprofit partnerships, and environmental preservation, such as supporting land trusts that have conserved over 70,000 acres since the 1980s.[115] Pro bono hours are fully billable equivalents, with firm-wide participation yielding recognitions like the 2019 John H. Pickering Award for sustained commitment and top-25 rankings in The American Lawyer's surveys.[116] During the COVID-19 pandemic, lawyers contributed to national eviction prevention efforts alongside peers from other firms.[117] These initiatives align with the firm's origins in public service, prioritizing practical impact over abstract advocacy.[118]