Recently, the Delaware courts issued a decision that could affect anyone who is buying or selling a business. Depending on how the deal is structured, it was determined that the right of attorney-client privilege — which is considered to belong to the client, not the attorney — could pass from the seller to the buyer of a business. This means that the buyer would then be privy to all the communications that occurred between the seller and the seller’s attorney, including the deep dark secrets. You should be aware of this if you are selling or buying a business.
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