The cultural differences among U.K. and U.S. law firms are dwindling in some respects as compensation models are tweaked, legal technology is adopted more universally, and law firms expand around the globe. But last week’s news surrounding merger talks between Allen & Overy and O’Melveny & Myers highlighted one area where firms on either side of the pond typically differ: how partners vote on mergers.
Legal Week revealed last week that Allen & Overy would hold an open vote if and when the partners weigh in on the deal, meaning the firm would know how each partner voted. Several people who spoke with affiliate The American Lawyer about the process said that system struck them as rare and had potential downfalls – to a point.
