McGuireWoods Tysons partner
Thomas E. Spahn authored a
on issues of ownership in closely held corporations that was published by
Corporate Counsel Business Journal
in its November-December issue.
Spahn discussed a recent case that illustrates
how ownership issues can be thorny in closely held corporations, and
why it’s important to vet a potential client’s corporate governance
Every court agrees that when a lawyer represents a corporation, the entity
owns the privilege as the ‘client.’ But that analysis can be difficult in
closely held corporations,” Spahn wrote.
“[L]awyers representing closely held corporations should take steps to
ensure that their retention by the majority owners complies with the
corporate governance documents,” he added.
The article was
originally published as one of Spahn’s weekly “Privilege Points” alerts on attorney-client privilege and work product developments.