Ethical Issues in Setting Engagement Terms
1 PM GMT
As a general rule, lawyers are prohibited by state ethics rules from prospectively limiting their liability to clients for professional errors and omissions, either through terms in an engagement letter or the use of a limited liability entity structure. These rules raise a number of considerations that are often not focused on until problems arise with an engagement. With the general rule prohibiting liability limitations as context, this panel will consider a number of ethical issues relating to engagement letters, including limitations on the scope of an engagement and the use of arbitration clauses. The panel will also discuss whether and to what extent the prohibition on liability limitations applies to persons beyond the lawyer engaged directly by the client as, for example, in the context of Kovel arrangements.
Chad Nardiello, Nardiello Law Firm PLC, Century City, CA
Professor Linda Galler, Hofstra University School of Law, Hempstead, NY
Fred Murray, Grant Thornton, Washington, DC
Christopher S. Rizek, Caplin & Drysdale, Washington, DC
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