What must a lawyer do if they wish to accept shares in a company as payment?

A lawyer accepting shares in a company as payment for services must ensure that the arrangement is fair and reasonable given the known circumstances. This obligation stems from the professional responsibility rules which mandate that a lawyer's fees must be reasonable and that any alternative forms of payment must be transparent and appropriately assessed for fairness.

To uphold ethical standards, the lawyer should thoroughly evaluate the value of the shares compared to the legal services rendered, ensuring that their acceptance does not create a conflict of interest or compromise the client's best interests. Additionally, the lawyer should keep the client informed about the risks and benefits involved with accepting shares, which can fluctuate in value. This diligence helps maintain the trust and confidence the client places in the lawyer's professional judgment.

By focusing on fairness and reasonableness, the lawyer aligns with their duty to provide competent representation and to act in the client's best interests, thus fulfilling their ethical obligations in the professional setting.