Law360, New York ( June 3, 2014, 4:36 PM EDT) -- All professional service firms are under cost and fee pressure and law firms are no different. According to the latest AmLaw 100 report, profits per partner have been flattening in recent years. At the same time, fee compression continues to be a major issue many law firms and other professional and business firms face. Now, partners can add real estate (consistently a firm's second largest cost allocation after salaries) to their list of challenges as office rents across the U.S. are creeping higher as the economic recovery diversifies and expands. But there are some ways to reduce the pain on this real estate expense. In fact in some markets, there's still time to act quickly and avoid rising rents; firms just need to know where those opportunity spots are most prevalent....
Law360 is on it, so you are, too.
A Law360 subscription puts you at the center of fast-moving legal issues, trends and developments so you can act with speed and confidence. Over 200 articles are published daily across more than 60 topics, industries, practice areas and jurisdictions.