Volume 23, Number 4

Indemnity Provisions in Outside Counsel Guidelines: A Tale of Unintended Consequences

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Indemnity Provisions in Outside Counsel Guidelines: A Tale of Unintended Consequences

Client outside counsel guidelines (“OCGs”) have been in existence for more than a decade, but they are taking on increasing significance as more corporate and financial institution clients develop broad forms of OCGs and adopt policies requiring them for all outside counsel engagements. The authors make the case that indemnity provisions favoring clients, increasingly common features of OCGs, threaten the professional independence of lawyers and the legal profession as a whole, and may be harmful to the client’s interests as well.

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