The hiring of lateral partners can be an extremely beneficial exercise for firms and may form a key part of their long-term business strategy. Successful lateral partner hires can lead to the development of a practice growth plan; the launch of a new practice or division; and/or inject new energy into and drive innovation in the business. However, the process of hiring lateral partners is certainly not without risk, both from a UK and US perspective, and firms need to take early advice in relation to the key issues, legal risks and practical considerations when vetting potential lateral partners and bringing them onboard.
In this transatlantic webinar, CM Murray LLP Partners Zulon Begum, specialist in partnership and M&A law, and Merrill April, specialist in partnership and employment law, joined Decipher CEO and Founder Michael Ellenhorn, and Barnes & Thornburg LLP General Counsel Karoline Jackson in a discussion covering the following topics:
- The key differences in the legal and regulatory risks that impact the lateral hiring process in the UK and the US, and key issues from both the lateral partner and the hiring firm’s perspective during the vetting process;
- The similarities and differences between UK and US firms’ lateral partner questionnaires;
- Due diligence in the broader context – focusing on what is allowed and prioritised in the UK and the US; and
- How to ensure that the lateral hiring process meets firms’ diversity and inclusion objectives.
For more information on the topics covered in this recording, please contact Partner Zulon Begum, who specialises in partnership law and focuses on advising professional services firms on structuring, governance, LLP/partnership agreements, mergers and acquisitions and partner exits, team moves and restrictive covenants, and Partner Merrill April, who specialises in partnership and employment law, with particular experience in advising employers and senior executives, partners, partnerships, LLP members and LLPs on a wide range of contentious and non-contentious issues.