ISBA Ethics Opinions on Dual Professions

Patent law firm may not provide or receive a royalty-type fee for services matching client-inventors with client-product promoters, unless the firm can rebut the presumption of undue influence and the firm obtains informed written consent of all affected clients to the fee arrangement, to the potential disclosure of confidential information, and to the inherent conflicts of interest. The specific facts of particular situations may make consent to certain conflicts of interest unreasonable. Any fees for such services must be fair and reasonable to the clients.

Attorney may provide legal services and conduct title insurance business as agent so long as legal services are conducted in compliance with the Illinois Rules of Professional Conduct.

Lawyer who is also an insurance and investment professional: may advertise insurance and investment business, but if advertising discloses status as a lawyer it must comply with rules governing lawyer advertising and solicitation; may accept legal employment from insurance and investment customers; and may sell insurance and investment products to legal clients with disclosure and consent; but may not agree with legal clients who are also insurance and investment customers that insurance or investment advice cannot be considered legal advice.