Naik Naik & Co forms JV with IP law firm Anand and Anand for Mumbai region

Full-service law firm Naik Naik & Co on Wednesday said it has entered into a joint venture agreement with Anand and Anand, an intellectual property (IP) law firm, for the Mumbai region.

As part of the JV agreement, Naik Naik & Co will hive off its media and entertainment and IP practices into the new alliance -- Anand and Naik -- which will take effect from July 1, 2022, the firm said in a statement.

The 50:50 alliance will focus on areas, including IP protection, IP litigation, technology, media and entertainment, data protection, fashion, advertising, social media, gaming, sports and technology.

It will also 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 statement said.

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

He further said,''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.'' Similarly, Anand and Anand Managing Partner Pravin 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.'' 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, Anand and Anand Senior Partner, Safir Anand said.

The joint venture, which was announced in November 2021, is at present limited to Mumbai and is a precursor to a broader alliance across the country, the statement said.