In-house counsel who wear multiple hats may face a number of ethical issues as well as situations that make determining when the attorney-client privilege applies, and to whom it applies, difficult. This first article in a two-part series originally published in our sister publication, the Private Equity Law Report, covers a PLI program featuring in-house and outside counsel who examined the importance of correctly identifying which individual or entity is a GC’s client, as well as attorney-client privilege considerations in the context of PE transactions. The second article will cover the panelists’ insight on unique ethical issues that in-house counsel confront and will provide guidance for navigating common types of conflicts of interest. See “Data Breaches, Leaked Documents and the Attorney-Client Privilege: Can the Bell Really Be Unrung?” (Sep. 23, 2020).