There is a long-standing practice of attorneys accepting positions as corporate directors, roles that to a large degree are indicative of professional accomplishment. Accepting a position on a corporation's board of directors is enticing for lawyers since they may enjoy the opportunity to influence corporate decisions in the business arena. Additionally, lawyers are prime candidates for directorships because they are uniquely qualified to assess business issues from a legal standpoint. In fact, it is common practice both in the past and today for attorneys to assume the dual role of both attorney and director. Corporate clients continuously request that lawyers not only sit on the board of directors but also serve the corporation as its attorney. However, assuming the dual role of both lawyer and director undoubtedly raises ethical concerns. This article examines the dual role of attorney-director, and the ethical dilemmas that inevitably result from the practice.
Stephen M. Zaloom,
Legal Status of the Lawyer-Director: Avoiding Ethical Misconduct,
8 U. Miami Bus. L. Rev.
Available at: http://repository.law.miami.edu/umblr/vol8/iss2/4