Now that Allen & Overy (A&O) and Linklaters have joined the growing band of law firms putting liability caps on individual deals, the practice looks set to become mainstream over the next decade. For their part, clients seem to be reluctantly accepting the practice as an inevitable change in reality.
This step-change raises the question of whether a fundamental shift in the adviser-client relationship is in the making. Does putting a liability cap on a deal raise questions about the kind of quality a client can expect from their advisers?
