The line seems to be blurring here about what you can ethically do in business versus what you can legally do. Only your attorney can give you qualified advice about how your actions may create liability for you. Ethics is an entirely different animal. And there is a reason we occasionally wrestle with our own thoughts before we take action.
IM can be an isolated endeavor, but this does not mean we are separated from society. For the most part, we learn the fundamental rules of truth, honesty, fairness and other character elements at an early age. They are etched into all of us. When we ask questions about the ethical side of our potential actions, it is hard to imagine that we don't already know the answer. Just ask yourself. Will my actions harm someone else either personally, financially or otherwise? And would I feel harmed in any way if I were on the receiving end of such an action?
Yes, it is true that you can be perfectly legal but highly unethical. But you address matters of ethics in your own mind first, you may never need to seek legal counsel.