Fiduciary Duties in Business Relationships (including 1 Hour of Ethics)


Re-Broadcast on January 31, 2017

This course will focus on fiduciary duties, how they are formed, between whom they are owed and when they can be abrogated by contract. We will discuss the different business entities and the varying degrees of fiduciary duty imposed from the duty of utmost loyalty to the simple duty of care. Finally, we will discuss the ethical implications of representing entities and individuals within a particular business organization.

Key topics to be discussed:

  • Personal Liability for shareholders, directors, managers and partners
  • Expansion of fiduciary duties
  • Majority and minority rules for closely held corporations
  • Ethical Considerations when representing entities, owners and officers

Date / Time: January 31, 2017

  • 2:00 pm – 4:00 pm Eastern
  • 1:00 pm – 3:00 pm Central
  • 12:00 pm – 2:00 pm Mountain
  • 11:00 am – 1:00 pm Pacific

Choose a format:

  • Live Video Broadcast/Re-Broadcast: Watch Program “live” in real-time, must sign-in and watch program on date and time set above. May ask questions during presentation via chat box. Qualifies for “live” CLE credit.
  • On-Demand Video: Access CLE 24/7 via on-demand library and watch program anytime. Qualifies for self-study CLE credit. On-demand versions are made available 7 business days after the original recording date.



brian-barakatBrian Barakat defends businesses and business owners from suit. He began his career as a Prosecutor in Miami Dade County. While there, Mr. Barakat worked in the Economic Crimes Division of the Special Prosecution Section. His experience in investing financial frauds gives him a unique perspective on business disputes.

Mr. Barakat’s experience in Commercial Litigation includes the full gamut of cases from complex class actions to small business disputes. He is also a sought after speaker that has lectured on the topics of Computer Crime, Identity Theft, Financial Fraud, and the Law of Digital Photography.

Mr. Barakat’s publications include: The Authentication of Digital Photographs Under the “Pictorial Testimony” Theory in the Florida Bar Journal, July/August, 2004.

J.D., Temple University, 2000
B.S., Finance, Drexel University, 1996

Professional & Bar Association Memberships
Coral Gables Chamber of Commerce
Board of Directors
Formerly, Vice Chair Business & Economic Development, Treasurer.
Board of Directors
Florida Bar Grievance Committee – 2006 – 2009
Business Networking International (BNI)
Chairman of the Franchise Advisory Board
Chapter Treasurer
Formerly, President, Ambassador Chair, Vice President, Educational Coordinator, League of Prosecutors
Eleventh Judicial Circuit Historical Society
Miami Electronic Crimes Task Force
The Bankruptcy Bar Association of the Southern District of Florida
Miami-Dade County Bar Association
Coral Gables Bar Association

CLE Accreditation:
mylawCLE seeks approval in all states except VA.

CLE 2.00 – AK
CLE 2.00 – AL
CLE 2.00 – AR
CLE 2.00 – AZ
CLE 2.00 – CA
CLE 2.40 – CO
CLE 2.00 – DE
CLE 2.40 – FL
CLE 2.00 – GA
CLE 2.00 – HI

CLE 2.00 – IA
CLE 2.00 – ID
CLE 2.00 – IL
CLE 2.00 – IN
CLE 2.00 – KS
CLE 2.00 – KY
CLE 2.00 – LA
CLE 2.00 – ME
CLE 2.00 – MN
CLE 2.40 – MO

CLE 2.00 – MP
CLE 2.00 – MS
CLE 2.00 – MT
CLE 2.00 – NC
CLE 2.00 – ND
CLE 2.00 – NE
CLE 2.00 – NH
CLE 2.40 – NJ
CLE 2.00 – NM
CLE 2.00 – NV

CLE 2.40 – NY
CLE 2.00 – OH
CLE 2.40 – OK
CLE 2.00 – OR
CLE 2.00 – PA
CLE 2.40 – RI
CLE 2.00 – SC
CLE 2.00 – TN
CLE 2.00 – TX
CLE 2.00 – UT

N/A – VA
CLE 2.40 – VI
CLE 2.00 – VT
CLE 2.00 – WA
CLE 2.40 – WI
CLE 2.40 – WV
CLE 2.00 – WY

Accreditation Policy
myLawCLE will seek credit where attending attorneys are primarily licensed for all of its live webinars and live teleconferences, except in states which allow for reciprocity (see reciprocity section below). Credit for CLE in a self-study format is sought for in most states; however, some states do not allow for CLE credit to be earned in a self-study format (see the self-study section below). Many states typically decide whether a program qualifies for MCLE credit in their jurisdiction 4-8 weeks after the program application is submitted. For many live events, credit approval is not received prior to the program. Credit hours granted are subject to approval from each state.

Additionally, some states allow for credit to be granted on a 1:1 reciprocal basis for courses approved in another mandatory CLE jurisdiction state. This is known as a reciprocity provision and includes the following states: AK, AR, CO, FL, ME, MT, ND, NH, NJ, NY, PR, and SD. myLawCLE does not seek direct accreditation of live webinars or teleconferences in these states.

On-demand CLE
myLawCLE will seek on-demand approval in all states except Virginia and Arkansas (outside reciprocal provisions stated above).

myLawCLE Credit Guarantee
myLawCLE offers a program and credit approval guarantee. If a registered attendee is unhappy with a CLE program they have attended, myLawCLE will offer that attended access to another complimentary CLE or a full refund in order to insure the attendeeís satisfaction.

Additionally, on all online CLE programs application for approval will be made in all states where attending attorneys are primarily licensed in. If a registered attorney does not receive credit from their state for any reason, a full refund will be granted.

Section I. Introduction

Section II. Scope of the Course

Section III. Course objectives

Section IV. History

Section V. Common law

Section VI. Codification

Section VII. Attorneys must be able to identify
a) The duty
b) Who it encumbers
c) To whom it is owed
d) It’s origin
e) The obligations imposed by that duty

Section VIII. Duties
a) Loyalty
b) Care
c) Goodwill

Section IX. Operating agreements
a) Limiting fiduciary duties

Section X. Causes of action

Section XI. Damages

Section XII. Ethics
a) Representing the company
b) Representing owners in the formation of the company
c) Representing owners as the business is ongoing
        i. Conflicts in representing Entities and Individuals
        ii. American Bar Association Model Rules 1.6, 1.7, 1.9, 1.13, 1.18