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[Client A] hereby provides informed consent to and waives any objection to the conflict of interest in [Law Firm's] concurrent representation of [Client A and Client B] as described in the aforesaid circumstances.
Examples of conflicts of interest include: an employee starts a part-time business offering similar services. an employee accepts a gift from a supplier in exchange for business over other suppliers. a manager fails to disclose that they are related to a candidate being considered for a job.
Pursuant to Rule 3-310 of the Rules of Professional Conduct promulgated by the State Bar of California, an attorney must avoid representations in which the attorney has or had a relationship with another party interested in the representation without the informed written consent of all parties affected.
This type of conflict most often occurs when a lawyer enters into a business transaction with the client after the formation of the attorney-client relationship. Some examples include purchasing property from the client at a below-market rate and drafting a will where the lawyer is a beneficiary.
Own-interest conflicts a client wants to make a gift of a significant amount to you, or to leave you a legacy in their will. you lend money to, or borrow from, your client. you sell to, or buy from, your client. you have, or might obtain, any personal interest or benefit in a transaction in which you act for the client.