These summaries were prepared by McGuireWoods LLP lawyer Thomas E. Spahn. They are based on the letter opinions issued by the Virginia State Bar. Any editorial comments reflect Mr. Spahn's current personal views, and not the opinions of the Virginia State Bar, McGuireWoods or its clients. 
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50-Lawyer-Owned Businesses

A lawyer may not steer a client to a separate corporation handling real estate settlements and retain the interest earned on the client's funds unless the client has been given the choice of using other corporations as well (or is no longer using the lawyer's services as a client). In any event, the client must consent after full disclosure to using a corporation owned by the lawyer. [Under Rule 1.8(a), a lawyer may not enter into a "business transaction" with a client unless the client is given an opportunity to seek independent advice, and there has been full disclosure and consent in writing.]

Copyright 2000, Thomas E. Spahn