The Mergers & Acquisitions UTBMS code set was originally proposed in 2015 by a task force on legal project management within the ABA M&A Committee. They recognized the need for a standard set of codes to promote more effective budgeting, pricing, and categorization of the services provided by outside counsel on mergers and acquisitions transactional matters.
The code set ratified by LOC Board in early February 2016 represents a joint effort between the ABA M&A task force and the LOC M&A Standards Development Subcommittee and includes input from law firms, corporate legal departments, legal technology vendors, and consulting firms around the world.
On June 16, 2016, the LOC presented “An Introduction to the New Mergers and Acquisitions Code Set.” The webinar was hosted by Linda Hovanec, Chair of the LOC M&A Codes Subcommittee, with guest speakers Byron S. Kalogerou, a Partner at McDermott Will and Emery, and Aileen Leventon, Esq. from QLex Consulting. Byron and Aileen were instrumental in the development of the codes through their work with an ABA task force on legal project management within M&A. The slide deck is available here and a recording of the presentation is available here.