Patterson + Sheridan LLP bought a $3 million private jet to travel from Texas to California at least once a month to meet with their clients. They explain why the cost of the plane is worth it to them and how they use it to get their work done more efficiently.
“Given the nature of our work, it’s important to be in front of our clients and be able to look feel and touch their technology,” Todd Patterson, a partner at the firm, which specializes in high-tech patents and intellectual property, tells CNBC Make It. He says the trips allow for face-to-face meetings that provide a more hands-on, in-depth experience than a teleconference or video call.
Plus, relocating or opening a satellite office in the Bay Area — where commercial real estate is 40% more expensive, salaries are 50% higher and competition for technical talent is more intense, according to a 2017 report in the Houston Chronicle — would arguably make it difficult for the firm to hire new employees and ultimately result in Patterson and Sheridan passing some of the additional costs onto their clients.
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Why This Law Firm Bought A Private Jet To Save Money
