Can you briefly introduce Cooley LLP and its presence in China?

Cooley LLP is a full-service law firm specializing in the technology and life sciences sectors. It was established in San Francisco in 1920 and has now become Silicon Valley’s largest full-service law firm. With nearly 1,000 attorneys, the firm has a significant international presence, primarily located at technology centers in the United States. Cooley ventured into China in 2011 in response to the requests of its existing clients. The firm was well-prepared for this expansion, having engaged in venture capital work in China since 1989 when it assisted in the establishment of the first US dollar-denominated venture capital firm in the country. Cooley’s growth in China has been both rapid and sustained, making it the fastest-growing firm among the top 50 US law firms for the past three years. Over 50% of its business in China consists of inbound deals with clients from the US and Europe, while the remaining portion comes from Chinese clients, including a significant number of returnees who have played a pivotal role in driving innovation in the pharmaceuticals industry.

How does Cooley support returnees in their entrepreneurial endeavors in the pharmaceuticals industry?

Many new Chinese companies in the pharmaceuticals industry are founded by returnees who establish an offshore parent company to attract US dollar investment. Cooley provides comprehensive support to these individuals throughout their entrepreneurial journey. From the formation of the offshore company to designing their equity compensation model, developing their capitalization table, raising their initial funds, and applying for their first patents, Cooley assists returnees at every step of the process. The firm’s expertise and guidance enable these entrepreneurs to navigate the complexities of launching their ventures and maximizing their chances of success.

What are Cooley’s objectives for its presence in China within the life sciences space?

Although Chinese law imposes certain restrictions on foreign firms, such as limitations on litigation in court and a restricted presence in front of government officials, Cooley has long-term growth objectives for its operations in China. Specifically, the firm aims to offer full-service in-country patent and litigation services within the life sciences space. By expanding its capabilities and providing comprehensive legal support tailored to the specific needs of clients in China’s life sciences industry, Cooley strives to enhance its position as a leading law firm in the country.