By Kenneth Gerasimovich and Sheran Sharafi, Greenberg Traurig LLP ( December 13, 2016, 11:37 AM EST) -- Attorneys should keep in mind the importance of preserving the attorney-client privilege during the course of a merger or acquisition and understand (and cause the client to understand) which communications regarding the transaction are protected by the attorney-client privilege and what actions may waive the privilege. To the extent feasible, attorneys may also wish to discuss with the client which party will control the attorney-client privilege post-merger. Specifically, if the client is the seller (or a controlling shareholder), depending on the jurisdiction governing the merger agreement, specific steps may need to be taken to ensure that the client will continue to control premerger attorney-client privileged communications, and that the privilege does not pass to the surviving entity (and, therefore, to the acquirer)....