1. Is it ethical for Edmund & Sun to represent both the venture capitalists and new clients (start-ups) that need funding? Is this a current conflict or a former client conflict? Which rule(s) supports your answer?
2. How might the interests of these two clients conflict?  Describe what possible situations could arise from representing both the venture capitalists and the start-up (s) at the same time.
3. Assuming that there may be potential conflicts, is consent needed?  If so, by which client(s)? Cite the rule that supports your answer.
4. IF Edmund & Sun does go ahead and represent both a venture capitalist and a start-up by drafting necessary legal documents for the arrangement and a dispute occurs between them, may Edmund represent either the start-up or the venture capitalist in the litigation that results from the dispute?
5. May Frank invest his own money in the start-up's new company?  If so, does he need consent from the client?  Cite the applicable conflict rules that support your answer.

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It seems like youre presenting a scenario related to legal ethics and potential conflicts of interest within a law firm Ill address each of your quest... View the full answer