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Perspective

Aug. 18, 2009

The Keys to BigLaw Tenants

Property owners leasing to BigLaw firm tenants better step up supervision of the risk parameters of their lease deals, writes Edwin B. Reeser.

By Edwin B. Reeser

A partner considering a departure from his or her law firm previously had to be concerned about the consequences to the firm that the departure would create. Now, in an LLP structure, all a partner needs to do is weigh the cost of the loss of his or her capital invested in the firm against the reward for leaving, and additional direct obligations undertaken, such as limited lease guarantee amounts, if any. If the calculation militates i...

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