In the case of Center Partners, LTD v. Growth Head GP, LLC, state of Illinois Supreme Court clarifies the law about waiver of the attorney-client privilege in a business transaction.
Anything said between an attorney and their client is normally privileged. Parties cannot get at the substance of the conversation during discovery. In this case the attorney client privilege came up in a business transaction. The parties to an agreement all discussed with their attorneys, various aspects of the transaction. There was litigation over the transaction. During the discovery depositions one of the parties testified as follows:
“[Stefanek]: Well, we all signed it, so it would seem pretty logical that-you know, that-that anything significant would have been discussed with everybody, yes.