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Agreed. Always better to own up to it immediately - though you should talk to the partner about it first. Client may not be happy, but at least you’ll look like you have some integrity.
I was more so commenting on something opposing counsel tried to pull with their client on a recent transaction. Their client raised it with ours claiming it was brought up late in the deal process, and our client called them on it (because we brought it up a couple months ago and opposing counsel either missed or ignored it).
When problems arise, I always hide behind/ask the partner for advice on how to handle.