ISN'T IT RICH? - American Business Media

BARTALKTHE NEXT SILICON VALLEY?Technology deals are heating up the Seattle legal market.DOUBLE DOWN INTERACtiveLLC was founded in2010 with financing froma single angel investor. Less thantwo years later, the Seattle-basedcompany’s virtual casino was oneof the top four social media gamesas rated by Facebook. It was soldin January to Nevada-based IGTin a deal worth up to $500 million.The growth trajectory was “astonishing,”says Stuart Campbell,a Davis Wright Tremaine partnerwho represented Double Down.Seattle’s technology market,while not as frothy as the one inthe valley 700 miles south in California,is enjoying its own revival,and both local law firms and outof-townersare benefiting.Bellwether technology companiesare thriving. Seattle’s DavisWright and Perkins Coie areamong Microsoft’s ten preferredlaw firms, and Amazon uses suchfirms as Stoel Rives, K&L Gates,and K&L split-off PacificaLaw Group for locallitigation. Thesecompanies also spinoff engineers andexecutives who formtechnology start-upsthat need corporatelegal advisers.“In the last 18 monthswe’ve seen a major uptick ingrowth of major companies andstart-ups,” says Dan Waggoner,the head of Davis Wright’s communications,media, and informationtechnology practice. “Iwouldn’t say it’s going crazy, butthere’s definitely an uptick.”One area that seems especiallyhot is gaming. In July, Seattle’sPopCap games, represented by aSeattle-based DLA Piper team, wasIn The MARKETacquired by Electronic Arts for $1.3billion in cash, stock, and earnouts.A month later, SonyComputer Entertainmentbought Bellevue-basedSuckerPunch Productionsfor an undiscloseda m oun t . Suck e rPunch was representedby the Law Officesof David Rosenbaum inSouthern California and Seattle’sKarr Tuttle Campbell.“In a lot of ways the PugetSound area has emerged in thelast year as the most dynamic,significant technology center” af-ter Silicon Valley, says Microsoftgeneral counsel Brad Smith. Hesees it challenging Boston, Austin,and the Research Triangle area fornumber two status. Microsoft itselfcounts 315 in-house lawyers inWashington, making it the biggestprivate sector employer of lawyersin the state.Stephen Graham, the managingpartner of Fenwick & West’s Seattleoffice, says he’d like to see moreprivate companies remain in thearea as independent concerns. Grahamis cochair of the Securities andExchange Commission’s committeeon small and emerging companies.The committee is lookingfor ways to help private companiesraise capital and comply with regulationsthat sometimes force themto give up their independent statusprematurely. “There’s a lot to besaid for the [Seattle] area,” Grahamsays. “We certainly see ourselvesexpanding over the years becauseas the economy turns around andthe regulation gets straightenedout, the area will be poised for explosivegrowth.” —SCOTT T GRAHAMHAISAM HUSSEINandWage and Hour Class Actions: Successfully Navigating thePretrial ProcessIntellectual Property Rights for the Entertainment Industry42 States.100 Practice Areas.750 Courses.Rock it, baby, atCLECenter.com.ONLY GERMAN ENGINEERS ARE AS ADEPTAT MERGING POWER WITH STABILITY.NO ONE IS BETTER EQUIPPED THAN THE MCKINLEY GROUP TO INTRODUCE POWERFUL SENIOR PARTNERSand groups to the most successful and stable law firms worldwide. With 25 years of experience, we know the firms thatoffer growth, stability and the highest financial rewards. It’s no wonder partners and groups who are considering newopportunities look to us to learn who they should be talking to.Environmental Compliance: What Every Real Estate LawyerNeeds to Know — Now1-866-565-7800 mckinleygroup.com