Lawyers are governed by the Law Society of Upper Canada, but that being said, lawyers are not regulated on how much they can charge you on a per hour basis. It is a free market based on experience, as well as supply and demand. There are some exceptions to this rule when it comes to minors and disabled individuals who are always protected by courts pertaining to legal fees.
Personal injury law is different in how lawyers charge clients for their services. It is fair to estimate that at least 95% of personal injury lawyers are paid on a contingency fee basis. This means they only get paid a percentage of what they recover on your behalf.
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