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Legal and Managerial “Cultures” in Corporate Representation
Hazard, Geoffrey
Hazard, Geoffrey
Abstract
Perhaps the most difficult professional task for a lawyer is giving firm advice to a client concerning a legally risky project (transaction or litigation) in which the client has a substantial investment-psychological, financial, or otherwise. A client's project can be affirmative in that the client contemplates positive action, such as launching a new venture, or negative in that the client refuses or omits to take action, such as holding on to a losing investment or refusing to settle a dispute on terms recommended by the lawyer. This Essay focuses on representation of business clients, particularly corporations, although similar problems arise in all branches of practice.