Common use of Entity Representation Clause in Contracts

Entity Representation. When we represent an entity, the rules generally vary regarding to whom we owe our duty of loyalty and confidentiality. In the interest of clarity, we are stating our understanding of the relationship. a. When we represent a corporation, the corporation is our client, and neither the owners nor the directors nor the officers are entitled to the duty of confidentiality. Only the corporation has that right. Any information that we discover must be disclosed to whomever we believe is appropriate in the best interest of the corporation. b. Similarly, when we represent a limited liability company or a general or limited partnership, the entity and not the manager or general partner, as the case may be is the client. c. When we represent a fiduciary (e.g., the guardian or custodian for a Protected Person, the trustee of a trust, or the personal representative of a probate estate), unless there is a specific written agreement to the contrary, it is to be presumed that we are representing the fiduciary as fiduciary, and the terms of § 10 apply. If there is a clearly written agreement that we are to represent the fiduciary, individually, against claims of the estate or of the beneficiaries, then we owe no more duty to the estate or to its beneficiaries than we would owe to a stranger.

Entity Representation. When we represent an entity, the rules generally vary regarding to whom we owe our duty of loyalty and confidentiality. In the interest of clarity, we are stating our understanding of the relationship. a. When we represent a corporation, the corporation is our client, and neither the owners nor the directors nor the officers are entitled to the duty of confidentiality. Only the corporation has that right. Any information that we discover must be disclosed to whomever we believe is appropriate in the best interest of the corporation. b. Similarly, when we represent a limited liability company or a general or limited partnership, the entity and not the manager (or general partner, as the case may be be) is the client. c. When we represent a fiduciary (e.g., the guardian or custodian for a Protected Person, the trustee of a trust, or the personal representative of a probate estate), unless there is a specific written agreement to the contrary, it is to be presumed that we are representing the fiduciary as fiduciary, and the terms of § 10 apply. If there is a clearly written agreement that we are to represent the fiduciary, individually, against claims of the estate or of the beneficiaries, then we owe no more duty to the estate or to its beneficiaries than we would owe to a stranger.

Entity Representation. When we represent an entity, the rules generally vary regarding to whom we owe our duty of loyalty and confidentiality. In the interest of clarity, we are stating our understanding of the relationship. a. i. When we represent a corporation, the corporation is our client, and neither the owners nor the directors nor the officers are entitled to the duty privilege of confidentiality. Only the corporation has that rightprivilege. Any information that we discover must be disclosed to whomever we believe is appropriate in the best interest of the corporation. b. ii. Similarly, when we represent a limited liability company or a general or limited partnership, the entity and not the manager (or general partner, as the case may be be) is the client. c. iii. When we represent a fiduciary (e.g., the guardian or custodian for a Protected Person, the trustee of a trust, or the personal representative of a probate estate), unless there is a specific written agreement to the contrary, it is to be presumed that we are representing the fiduciary as fiduciary, and the terms of § 10 Section 8 apply. If there is a clearly written agreement that we are to represent the fiduciary, individually, against claims of the estate or of the beneficiaries, then we owe no more duty to the estate or to its beneficiaries than we would owe to a stranger.

Entity Representation. When we represent an entity, the rules generally vary regarding to whom we owe our duty of loyalty and confidentiality. In the interest of clarity, we are stating our understanding of the relationship. a. When we represent a corporation, the corporation is our client, and neither the owners nor the directors nor the officers are entitled to the duty of confidentiality. Only the corporation has that right. Any information that we discover must be disclosed to whomever we believe is appropriate in the best interest of the corporation. b. Similarly, when we represent a limited liability company or a general or limited partnership, the entity and not the manager or general partner, as the case may be is the client. c. When we represent a fiduciary (e.g., the guardian or custodian for a Protected Person, the trustee of a trust, or the personal representative of a probate estate), unless there is a specific written agreement to the contrary, it is to be presumed that we are representing the fiduciary as fiduciary, and the terms of § 10 9 apply. If there is a clearly written agreement that we are to represent the fiduciary, individually, against claims of the estate or of the beneficiaries, then we owe no more duty to the estate or to its beneficiaries than we would owe to a stranger.