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> lawyers [...] huge potential legal pitfalls to destroying value, or failing fiduciary duties. > advised by lots of counsel on exactly what can be said, and t
by creer 3y ago
> lawyers [...] huge potential legal pitfalls to destroying value, or failing fiduciary duties.
> advised by lots of counsel on exactly what can be said, and the list of those things is probably miniscule.
Hmmm, in the US yes and no. First, US lawyers point out risk in every direction. Because nothing is risk-less and the law is unclear or unsettled (and anyone can sue for just about anything). Once they have duly warned to their satisfaction however, their job becomes to come up with a theory on how to do exactly what it is you want to do. The two are different tasks, and are not incompatible.
That's basically the definition of a good business lawyer.
- theGnuMe 3y agoYeah in think the risk of a negative outcome from being sued was and is low. Companies implode all the time. Sure you might get a lawsuit but the company would pay it or the directors insurance would. HN is always scared about lawsuits. If Trump taught us anything is that there’s a lot of leeway in that area.