Q: Dear Ethics Lawyer, I am an in-house corporate lawyer for a multinational agricultural products company. I was grinding away at 6 pm one evening when I received a call from a business colleague based internationally, with whom I have worked before. She explains that she is negotiating a license agreement to obtain rights to manufacture and sell some incredible new technology in the United States. She has an e-mail from the other party with the proposed form of licensing agreement. She tells me that the deal must be agreed upon in the next 12 hours or it will be lost to another bidder. Apparently she has been out of the office with an illness and had overlooked the email until just now. She wants me to review the proposed agreement immediately and advise her, but I’ve never done this before. She and I tried but were unable to reach an IP lawyer.
What do I do? I suppose my review is better than no legal review, but this is out of my area.
The twice-monthly “Dear Ethics Lawyer” column is part of a training regimen of the Legal Ethics Project, authored by Mark Hinderks, former managing partner and counsel to an AmLaw 200 firm. Read More
December 2023
December 1 Issue – Subordinate Lawyer
Q: Dear Ethics Lawyer, I am an associate working with a partner on a substantial matter. The client has asked for advice concerning the potential exposure and whether it should be estimated and disclosed as a material matter to audit personnel working on the company’s financial statements. The partner believes strongly that the matter is sufficiently speculative that it need not be disclosed. However, I believe that, although arguable, the partner is wrong and that a failure to disclose the matter would cause the client to misstate its contingent liabilities. The partner considered my position, but rejected it and has determined to advise the client based on his position. What may or must I do under the ethics rules?
Continue Reading December 1 Issue – Subordinate Lawyer