What must be done even if there is no significant risk of material limitation?

The correct choice emphasizes the importance of transparency and ethical duty when dealing with potential conflicts of interest, even when there is no significant risk of material limitation.

When a lawyer represents clients with potentially conflicting interests, the Model Rules of Professional Conduct require the lawyer to provide written disclosures to those clients regarding the existence of the conflict and the implications of continuing representation. This is crucial because it allows clients to make informed decisions about whether to continue with the attorney, ensuring that their interests are adequately protected.

Additionally, written disclosures help to establish a clear understanding between the attorney and the clients about the nature of the representation, which is essential in maintaining trust and integrity in the attorney-client relationship. Even if the risks are minimal, the duty to disclose remains, and in some situations, even with informed consent, attorneys may still be obliged to decline representation if the conflict is too significant.

This choice aligns with maintaining high ethical standards and fulfilling professional responsibilities, which are critical in legal practice. The other options either imply a misunderstanding of how conflicts of interest should be handled or suggest unnecessary actions that do not align with ethical guidelines regarding client representation.