Connolly Bove Lodge & Hutz, one of the oldest law firms in Wilmington, Del., is preparing to break up, splitting its intellectual property and commercial litigation practices into two separate independent entities, according to sources in the Delaware legal community.

Sources familiar with the plan have told Delaware Law Weekly that they expect the split to take place in early July, possibly as soon as July 1. Further details about the breakup, including the exact timing and the names of the new entities, are not yet known.