Law firms generally have many variable expenses and one significant fixed expense: office space. It is extraordinarily difficult to predict a firm’s likely growth over the term of a typical law firm lease, but the consequences of guessing wrong can be disastrous: Excess (and excessively expensive) real estate contributed to the implosion of a number of major firms, including Brobeck, Heller Ehrman and Howrey. On the other hand, having too little office space, or the wrong kind of space, can lead to lost productivity, poor morale, and significantly reduced profits.
Cautionary Tales
Recent cautionary tales amply demonstrate that it is critical to get law firm office space decisions right.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
