What distinguishes a licensed, practising lawyer from another unlicensed legal professional?
Many will say that the answer is trust. The lawyer has duties and obligations to their client pursuant to a professional code of ethics and the profession’s regulatory scheme. A regulated lawyer has professional liability insurance coverage (mandatory in Canada) and is also “covered” for theft by their local compensation fund.
Clients can rely on those structures to protect them from lawyer’s mistakes, misdeeds and misappropriations. They can place their trust in their lawyer, and failing that, the lawyer’s regulator, liability insurer and compensation fund.
I was reminded of . . . [more]