32. Is Your Client A Business Risk Or A Business Partner?

Risk Series Part 2
Try to think of the client as a business partner, not a potential predator. Instead of looking inwards at the potential risks for the firm, look outwards at the risks attendant to the project from the client’s standpoint. Try to understand their risk appetite, advise through that prism and help the client navigate those risks.

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In Part 1 of the risk series, we said that the perspective on risk depends on who you ask, and to prove it we now pivot from the client to the law firm.

To say that outside counsel are naturally risk averse is like saying deer are naturally shy. In the case of outside counsel, it’s not surprising. There isn’t a lawyer in private practice who hasn’t had caution drummed into them from every professor, then every partner, for their entire career. Read everything. Use caveats. Don’t commit.

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