When evaluating and negotiating large transactions, it is important to keep the entire team – lawyers, accountants, consultants, etc. – on the same page. But this vital information sharing can also lead companies to inadvertently waive protection for privileged communications.

There are two kinds of privileges that protect communications between clients and attorneys: the attorney-client privilege and the work-product doctrine.

Originally published in Bloomberg BNA, Daily Tax Report: State, DTRS 3/28/17 - August 1st, 2017.