China Business Law Journal recognized Fenwick & West for the firm’s involvement in Alibaba Group Holding Ltd.’s $7.1 billion Yahoo! deal. David Hayes, chair of Fenwick’s Intellectual Property Group, served as special intellectual property counsel and handled the complex IP issues involved. Under the terms of the transaction, Yahoo! will receive $6.3 billion in cash and up to $800 million in new Alibaba stock in exchange for its stake in Alibaba, for which Yahoo! paid $1 billion in 2005.