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Perhaps the most difficult professional task for a lawyer is
giving firm advice to a client concerning a legally risky project
(transaction or litigation) in which the client has a substantial
investment-psychological, financial, or otherwise. A client's
project can be affirmative in that the client contemplates positive
action, such as launching a new venture, or negative in that the
client refuses or omits to take action, such as holding on to a
losing investment or refusing to settle a dispute on terms
recommended by the lawyer. This Essay focuses on
representation of business clients, particularly corporations,
although similar problems arise in all branches of practice.

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