The quality of an internal investigation is crucial to manage a company’s serious legal crises and to protect its reputation. Few issues are more important to the success of an investigation than preserving the attorney-client privilege.

General counsel must carefully consider important questions at the start of an investigation to avoid problems down the road. How broad is the privilege in the context of an internal investigation? What potential pitfalls loom? And, with increasingly aggressive federal prosecutors looking to make their reputations, when could a company find that it had unintentionally waived that hard-won privilege?