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Conflicts of Interest

Is it safe to serve on a client’s board of directors?

It can be very rewarding, both personally and financially, to be asked to serve on a client’s board of directors. It’s also easy to understand why a client might make the request: the lawyer may have worked closely with the corporation’s founders to establish the company, and will likely have a solid understanding of the… Read More »

Categories: LAWPRO Errors and Omissions Coverage, Conflicts of Interest, Corporate Law

Amendments to the Rules of Professional Conduct — Transactions with Clients

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The following is from the Law Society of Upper Canada’s June 2016 e-Bulletin Resources for Lawyers. The Rules of Professional Conduct (the “Rules”) with respect to Doing Business with a Client (now called Transactions with Clients) were amended on May 26, 2016. New Definition The term “transaction with a client” is now defined in rule… Read More »

Categories: Communication Errors, Conflicts of Interest

LAWPRO Magazine archives: Lawyers on client boards- Handle with care!

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It is easy to understand why a corporate client might ask her lawyer to sit on the board of directors. The lawyer may have worked closely with the corporation’s founders to create the company, and will have a solid understanding of the corporation’s objectives, its relationships with industry partners, suppliers, customers and others, and the… Read More »

Categories: Conflicts of Interest

practicePRO Resource: Independent Legal Advice Checklist

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When providing independent legal advice, a checklist provides you with a handy tool to ensure that you are covering all the bases when discussing the underlying transaction and your client’s relationship to that transaction. Using this checklist, created by Phil Epstein Q.C., will allow you to be in a better position to successfully defend a… Read More »

Categories: Communication Errors, Practice Aids, Conflicts of Interest

Conflicts rules leave room for (careful) collegiality

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Consulting with more experienced colleagues to confirm that you’re on the right track in resolving a problem is natural and commendable in any profession. Working in isolation is inefficient, and leads to preventable errors. Without access to information about others’ experience, we’re forced to make our own mistakes. For this reason, sole practitioners are routinely… Read More »

Categories: Conflicts of Interest

practicePRO Resource: Managing the Practice of Investing in Clients booklet

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The practice of lawyers investing in clients’ businesses is current and growing. Historically, this type of business transaction found some application in the real estate and mining industries. Inevitably, tha practice resulted from time to time in claims against lawyers. Today, we see the practice being undertaken in the high tech sector whose fast pace… Read More »

Categories: Conflicts of Interest, Law Practice Management

practicePRO Resource: Conflicts of Interest

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As mentioned in yesterday’s blog post (“Conflicts tune-up: 5 steps to avoiding conflict of interest claims“), lawyers do not always do the best job identifying potential conflicts on interest or taking the appropriate steps when conflicts may exist. practicePRO’s Managing Conflict of Interest Situations booklet can help lawyers better manage this risk by identifying, checking… Read More »

Categories: Conflicts of Interest
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