You are the president of a large steel manufacturer and all of your corporation's legal work is
Question:
You are the president of a large steel manufacturer and all of your corporation's legal work is done by one of the largest law firms in the country, Osman & Co. Your company regularly relies on opinions from Osman & Co in making million-dollar business decisions. You have never worried about receiving bad advice from the firm because, if the firm was negligent and gave the wrong advice, the firm's insurance and the assets of all its rich partners would be available to satisfy any judgment in your favour. Today, you receive in the mail an announcement that Osman & Co is becoming a limited liability partnership. Would you have any concerns about this change and, if so, what might you do about it?
Step by Step Answer:
Managing the Law The Legal Aspects of Doing Business
ISBN: 978-0133847154
5th edition
Authors: Mitchell McInnes, Ian R. Kerr, J. Anthony VanDuzer