Rule 1.8 - Conflict of Interest; Current Clients; Specific Rules(a) An LLP shall not enter into a business transaction with a client or knowingly acquire an ownership, possessory, security or other pecuniary interest adverse to a client unless: (1) the transaction and terms on which the LLP acquires the interest are fair and reasonable to the client and are fully disclosed and transmitted in writing in a manner that can be reasonably understood by the client;(2) the client is advised in writing of the desirability of seeking and is given a reasonable opportunity to seek the advice of independent legal counsel on the transaction; and(3) the client gives informed consent, in a writing signed by the client, to the essential terms of the transaction and the LLP's role in the transaction, including whether the LLP is representing the client in the transaction.(b) An LLP shall not use information relating to representation of a client to the disadvantage of the client unless the client gives informed consent, except as permitted or required by these Rules.(c) An LLP shall not solicit any substantial gift from a client, including a testamentary gift, unless the LLP or other recipient of the gift is related to the client. For purposes of this paragraph, related persons include a spouse, child, grandchild, parent, grandparent or other relative or individual with whom the LLP or the client maintains a close, familial relationship.(d) Prior to the conclusion of representation of a client, an LLP shall not make or negotiate an agreement giving the LLP literary or media rights to a portrayal or account based in substantial part on information relating to the representation.(e) An LLP shall not provide financial assistance to a client in connection with pending or contemplated litigation, except that:(1) an LLP may advance court costs and expenses of litigation, the repayment of which may be contingent on the outcome of the matter; and(2) an LLP representing an indigent client may pay court costs and expenses of litigation on behalf of the client.(f) An LLP shall not accept compensation for representing a client from one other than the client unless: (1) the client gives informed consent;(2) there is no interference with the LLP's independence of professional judgment or with the client-LLP relationship; and(3) information relating to representation of a client is protected as required by Rule 1.6.(h) An LLP shall not: (1) make an agreement prospectively limiting the LLP's liability to a client for malpractice unless the client is independently represented in making the agreement; or(2) settle a claim or potential claim for such liability with an unrepresented client or former client unless that person is advised in writing of the desirability of seeking and is given a reasonable opportunity to seek the advice of independent legal counsel in connection therewith.(i) An LLP shall not acquire a proprietary interest in the cause of action or subject matter of litigation in which the LLP is representing a client, except that the LLP may acquire a lien authorized by law to secure the LLP's fee or expenses.(j) An LLP shall not have sexual relations with a client unless a consensual sexual relationship existed between them when the client-LLP relationship commenced.(k) While LLPs are associated in an LLP firm or a law firm, a prohibition in the foregoing paragraphs (b) through (i) that applies to any one of them shall apply to all of them.Colo. Lic. Paraprofe. R. Profe. Cond. 1.8
Amended and Adopted by the Court, En Banc, April 13, 2023, effective 7/1/2023.