Attorney Client Privilege With Board Of Directors In Phoenix
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FAQ
The attorney-client privilege does not apply to every communication with an attorney. For the privilege to exist, the communication must be to, from, or with an attorney, and intended to be confidential. In addition, the communication must be for the purpose of requesting or receiving legal advice.
"The power to waive the corporate attorney-client privilege rests with the corporation's management and is normally exercised by its officers and directors." Weintraub, 471 U.S. at 348; see also, ABA/BNA Lawyer's Manual, at 05; United States v.
Who Should Not Serve On A Board Of Directors? Those Who Lack Objectivity. People Who Are All Talk And No Action. Those Who Are Conflict-Averse. People Who Don't Play Well With Others. Those Who Are Greedy. People Who Are Resistant To Change. People Who Are Not Team Players. People Who Don't Believe in the Mission.
Lawyers with a broad skill-set should not be discounted as potential non-executive directors. There is room for lawyers in this role, but only those lawyers who have all the skills that the board is looking for.
For publicly listed companies in the U.S., members of the board of directors are elected by shareholders at the annual meeting. Board candidates can be nominated by the board's nominating committee or by investors seeking to change a board's membership and policies.
A lawyer serving as an outside director has the same duty of care as any other outside director, and the same exposure to liability. The lawyer's skill and knowledge must be brought into the boardroom in the interest of the corporation.
Board minutes often contain information that is subject to the attorney-client privilege and that directors may prefer to keep confidential. However, most jurisdictions allow stockholders to inspect corporate books and records, including board minutes.
Finalized board meeting minutes must be distributed to all directors and shareholders, regardless of their attendance at the meeting. The board chairman must approve the minutes before distribution, ensuring the document reflects an accurate and concise record of the meeting.