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Legal Ethics

The Dangers of Joint Representation Part 3

In today’s blog, we will address conflict of interest in a joint representation. If you and your business partner still plan on hiring the services of one lawyer, you will be pleased to know that the existence of a conflict of interest does not necessarily disqualify a lawyer from representing more than one client in the same transaction.  But it…

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Legal Considerations for Documenting a Joint Venture Company

Is it appropriate to have one lawyer document a joint venture (or multiple owner companies) on behalf of the proposed business owners (two or more people)? A number of considerations come into play. All parties involved should weigh and understand these. #1 Legality In Texas, if both parties knowingly consent, attorney ethics rules permit an attorney to take on such…

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Attorney-Client Relationship, Business, and Divorce

In our previous blog post titled “Is My Company’s Lawyer Also My Lawyer?” we talked about an attorney-client relationship in the context of an LLC business divorce case.  In that case, Yun, one of the two business partners, refused to produce certain documents in her possession during discovery, claiming attorney-client privilege.  For a party to assert this privilege, however, there must…

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Creating Good Files To Work With Your Attorney

What do good records look like? My law firm is primarily a transactional law firm. We work with clients on putting together deals or transactions, and documenting them. We will discuss points related to a transactional matter. #1 Start by looking at your historical records. What shape are your historical records in?  Have you gone through and made sure that…

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Business Divorce and Attorney-Client Relationship

In our previous blog post titled Is My Company’s Lawyer Also My Lawyer?, we talked about attorney-client relationship in the context of an LLC business divorce case.  In that case, Yun, one of the two business partners, refused to produce certain documents in her possession during discovery, claiming attorney-client privilege.  For a party to asset this privilege, however, there must…

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Protecting the Client When Selling Their Business Or Do I Really Need to Hire a Lawyer?

I recently read a blog article suggesting that person selling their business SHOULD NOT involve a lawyer in the process. I replied to the original blog, and since then the original blog was updated.  Here is the updated version: Planning Your Liquidity Event: Four Groups to Consult with Prior to Selling Your Business I found this advice shocking!  As a lawyer…

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The Perils of Joint Representation (Part 3)

Addressing a Conflict of Interest in a Joint Representation. If you and your business partner still insist on the services of one lawyer, you would be relieved to know that the existence of a conflict of interest does not necessarily preclude a lawyer from representing more than one client in the same transaction.  But it is something that needs to…

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