Categories
. Legal ethics

Plaintiffs’ personal injury firm is to investment banker as . . . ?

A major issue that has dogged the legal profession in the past, and looks likely to dog it again in the near future (if you don’t happen to think it already does), is the debate over the restriction imposed under the ethics rules that prevents non-lawyers from having any ownership stake in a law firm. […]

Categories
. Legal ethics

A cautionary tale of sorts

Recently, I wrote a little about the problems that can be presented in re-negotiating the terms of a fee agreement with an existing client in light of the requirements of RPC 1.8(a) governing business transactions with clients.  Yesterday’s big legal news in Tennessee involves something that could be flippantly described as an RPC 1.8(a) problem […]

Categories
. Legal ethics

Traps for the unwary – Mid-stream changes to your client’s fee agreement

When lawyers think about problematic business transactions with a client, they usually think about things like loans or, perhaps, situations in which a lawyer is joining a client as an investor in a business venture.  The ethics rule regarding business transactions with clients, RPC 1.8(a), is broader in its coverage than just those situations and, […]