How does attorney-client privilege apply to an international company with corporate legal departments at a U.S. parent and at foreign subsidiaries? When does it attach to communications among such entities? Can it be invoked for communications with a third party involved in the facts of a litigation in which the U.S. parent is a defendant?  A carefully crafted New Jersey federal court opinion addressed these issues and provided guidance on how to structure inter-company communications and deal with privilege issues in litigation. It serves as an important reminder that the label "Privileged and Confidential, Attorney-Client Communication" is no guarantee of privilege.