Mumbai-based full-service law firm Naik Naik & Co has formalised a joint venture agreement with Anand and Anand, an intellectual property (IP) law firm in Delhi, for the Mumbai region.

The joint venture, Anand and Naik, will take effect from July 1, 2022. Naik Naik & Co will hive off its media & entertainment and IP practices into the new alliance which would be led by Madhu Gadodia, Deputy Managing Partner. 

“The new alliance would focus on IP protection, IP litigation, technology, media and entertainment, data protection, fashion, advertising, social media, gaming, sports and technology and lay focus on emerging technologies such as OTT, broadcasting, digital media, internet convergence, tech-based hybrid areas like fintech, ed-tech, agri-tech, health-tech and digital asset management including currencies, NFTs and metaverse,” the companies said in a statement. 

Anand and Naik will be headed by Safir Anand, Senior Partner Head of Trademarks, Contractual and Commercial IP, Anand and Anand and Ameet B Naik, Founder and Managing Partner, Naik Naik & Co. They will assume the roles of Joint Managing Partners of Anand and Naik. Pravin Anand, Managing Partner, will also be a part of the core leadership team.

The joint venture is aimed at setting a strong foundation for both the firms to expand their presence across multiple new-age practice areas pitching on the combined skills and competencies of 170 specialist lawyers. First announced in November 2021, it is at present limited to Mumbai and is a precursor to a broader alliance across India.

Ameet B. Naik, Founder and Managing Partner, Naik Naik & Co said, “The collaboration will enable us to combine our respective strengths, skill sets, expertise and domain presence to boost mutual growth.”

Combined synergy

“The combined strength sets the stage for great synergy towards driving growth and delivering value-driven solutions to our clients. We will further enhance the synergy based on our robust growth outlook,” added Naik.

Independent of the joint venture, Naik Naik & Co. with Abhishek Kale as the Deputy Managing Partner of the firm will continue to render its services as a full-service law firm with focus on dispute resolution, litigation, arbitration, international arbitration, corporate & transaction support, regulatory advice, mergers & acquisition bankruptcy & insolvency, projects, banking & finance, capital market, competition law, private clients and family settlements. 

Pravin Anand, Managing Partner, Anand and Anand, said, “The finalisation of the joint venture with Naik Naik & Co is part of our strategy to amplify our presence and focus on newer and emerging trends on technology and convergence. We look forward to collaborating with the team of Naik Naik & Co.”

Safir Anand, Senior Partner, Anand and Anand, said, “The synergy will set a benchmark for conventional and transactional IP practice as well as path-breaking and revolutionary practice in emerging areas such as virtual digital assets and metaverse. The joint venture demonstrates the power of shared vision to move forward and accelerate the growth in terms of practice areas.”