Ratner Prestia Announces Rate and Salary Freeze

Another intellectual property law firm is holding the line on billing rates.

Ratner Prestia will freeze all of its lawyer billing rates for at least six months, the Philadelphia Business Journal reports. The firm will encourage billing alternatives such as fixed fees.

The Philadelphia-based firm has also frozen lawyer salaries, according to firm co-founder Paul Prestia. He told the publication that the firm saw a decrease in demand for legal work earlier this year, but it has been getting more work in the past few months.

An Atlanta-area IP firm, Gardner Groff Greenwald & Villanueva, is freezing hourly rates and reducing flat fees by 12 percent.