The attorney-client privilege was once held inviolate once invoked, but the privilege has taken a beating recently. As the United States Supreme Court considers the immediate appeal of denials of the privilege and the Senate considers legislation prohibiting federal lawyers and investigators from requesting waivers, we will explore the nature, purpose and protections afforded by the privilege. This session will discuss not only how to protect communications with and advice received from counsel, but when to involve counsel in investigations of potential adverse events, and when to selectively waive the privilege in governmental and regulatory investigations.