Professional Services
Overview
Professional services organizations—accounting firms, law firms, engineering firms, consultancies—face a business landscape with a unique overlay of legal challenges. Foley Hoag has the experience in myriad business legal services to help professionals avoid challenges and confront them when the need arises.
More ยปGo-To Auditor Defense
Our Auditor Defense group has made us the go-to firm in New England for Big Four and other national accounting firms seeking representation in litigation and enforcement actions. We have successfully defended accounting firms and their partners in federal and state securities actions, state common law actions, and before federal and state regulatory agencies and boards. Our lawyers monitor developments in GAAP and GAAS, and pronouncements and guidance issued by the SEC, PCAOB, AICPA, and state accountancy boards.
Our Auditor Defense practice has spent decades acquiring a deep understanding of the evolving business issues and litigation trends unique to the accounting profession. This focus is transferable to other professional service firms facing a wide array of litigation and corporate matters in the course of their business including:- defense before regulatory agencies
- hiring, employment, and termination matters
- corporate transactions
- privacy and data security threats
- tax law issues
- licensing and strategic alliances
Choice for Leading Law Firms
Law firms are not immune to legal challenges. When major law firms find themselves the subject of disputes with clients or authorities, they call us. Foley Hoag has assisted market-leading law firms with malpractice disputes, partnership disputes, and employment claims. For example, a Foley Hoag legal team successfully cleared a law firm of a 10-year investment fraud case that could have resulted in $120 million in sanctions.
Employment Matters
Foley Hoag's Labor and Employment lawyers are experienced in the employment law issues facing national and regional accounting and other professional services firms that have thousands of employees in offices all over the country. We regularly represent our clients in court and regulatory proceedings involving current and former partners and employees, and advise our client firms in the negotiation of severance agreements with departing professionals. We also help our clients develop and implement best practices with respect to employment matters.
Privacy & Data Security
Foley Hoag's Privacy and Data Security Law practice has advised professional services firms about the myriad federal and state privacy regulations that governing the sensitive client and internal data that our clients must maintain. We have assisted clients in implementing privacy policies, safeguarding data, and responding to breaches. And we also have decades of experience in investigating, litigating and resolving a wide variety of security incidents, including thefts of confidential information, government investigations, as well as leaks involving proprietary data.
Business Transactions & Growth
Foley Hoag is skilled in the negotiation of licenses and other contracts between professional services firms and their strategic partners, vendors, and clients. We analyze risks associated with these opportunities and assist our clients in negotiating licenses and other agreements that meet their business interests and protect their intellectual property rights and reputations. We have helped a number of professional service firms grow by acquisition across the country, and have, more specifically, advised our accounting firm clients in the acquisition and divestiture of practices and business units. We have also assisted a number of our accounting firm clients on tax engagements by teaming with them to provide advice on a variety of complex tax issues for common clients.
In securing results for our clients, we have shaped case law, limited client liability and provided valuable risk management advice. When professional services organizations need professional services themselves, Foley Hoag is the wise choice.