Have you brought in a large corporate client such as a bank or a public company? If so, have they sent you outside counsel guidelines? Many large companies have their own guidelines that govern the attorney-client relationship as well as administrative and billing issues. These guidelines must be reviewed very carefully; they may require electronic
Engagement Letter
The Critical Nature of the Engagement Letter When Representing Corporate Clients
Identifying who your client is at the outset is one of the most important aspects of the attorney-client relationship. It governs who you can seek payment from and who can sue you for malpractice. This is particularly important when your client is a limited liability company, general or limited partnership, or a closely held corporation. …
New York ethics opinion requires attorneys paid in cryptocurrency to treat it as business transaction
By Ronald L. Israel on
The ABCNY has issued Formal Opinion 2019-5, requiring a lawyer receiving payment in cryptocurrency to comply with RPC 1.8(a) (business transactions with client), concluding it is different than an ordinary fee agreement. It is thus advisable for attorneys to become familiar with RPC 1.8(a) and not assume that a typical engagement letter will be sufficient.…
The Role of the Engagement Letter in Setting Client Expectations and Avoiding Legal Malpractice Claims
A recent Appellate Division decision illustrates the importance of a solid engagement letter that sets forth both the scope of the engagement as well as any limitations on the scope, i.e., what the lawyer is not being retained to do. In Murphy v. Shaw, Docket No. L-0869-13 (decided June 21, 2019), the lawyer was…