Sat, Jul. 01, 2006

My Vet is on Board

CK - Washington.   Audit clauses in license agreements and corporate by-laws often permit revenue audits, or representation of shareholders on the board of German corporations, by professionals subject to statutory confidentiality rules. Law-Blog examined what that really means and concludes that the customary contract language leads to uncontemplated results.

Such provisions cover—in addition to lawyers, CPAs and tax advisors—professions such as marriage counsellors, veterinarians, employees of health and life insurers, physicians, social workers and possibly the clergy. Law-Blog suggests that the intended professions be more precisely defined in such clauses.


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