For Fish & Richardson president and CEO John Adkisson, the future looks bright. The 321-attorney intellectual property law firm saw its patent prosecution and post-grant practices post record revenue in 2020, and the firm has seen even more IP growth in early 2021.

John Adkisson of Fish & Richardson< John Adkisson of Fish & Richardson

Yet the firm, originally from Boston, ended five years of steady revenue growth last year. After spiking at $472 million in 2019, gross revenue fell 4.4% to $451 million last year, while average profits per equity partner dipped 2.1% to $1.98 million in 2020, even with fewer equity partners at the firm. In an interview, Adkisson said 2019 was a tough act to follow.