The UK top 20 firm confirmed to Legal Business today (18 February) that its global partnership has approved proposals for the two firms to co-operate on transactional work in tech and life sciences. It will see its lawyers work together with the Palo Alto-bred firm on matters including transactions with a US and European element.
Taylor Wessing will maintain relationships with other US firms outside the tech and life sciences transactional space. The firm currently has a representative base in Silicon Valley staffed by two partners, one counsel and one associate, as well as a base in New York, but does not practice US law.
Wilson Sonsini launched a small London outpost in August 2018, led by US tech lawyer Daniel Glazer. The firm’s website also lists one counsel and one associate in the City base, which is not practising English law.
Following two years of sluggish growth in the UK, Taylor Wessing posted a strong set of financial results in 2017/18, hiking UK revenue 12% to £144.6m and profits per equity partner 20% to £579,000. Globally the firm, which last year moved from a looser alliance of international firms into a formal verein structure, broke the £300m barrier after hiking turnover 12% to £301.5m.
Meanwhile, Wilson Sonsini posted revenue of $797m for 2017, up 6% on the previous year and making the firm the 53rd largest by revenue in Legal Business Global 100 tables. PEP at the Palo Alto-bred firm was $2.2m, up 12% on the previous year.
For more on Taylor Wessing, see ‘LB100 case study: Taylor Wessing’ (£)