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Expounding on legal risk management

Since March 2008, when I last assembled posts on legal risk and risk management, I have expounded on both topics a fair amount (See my post of Nov.15, 2005: legal risk with 7 references, see risk management; and March 23, 2008: risk management with 18 references, see legal risk.).

Several posts look at the role of the general counsel in risk mitigation (See my post of June 10, 2008: four reasons why the general counsel is a good choice to help manage risk; June 17, 2008: embedded risk management overseen by a central risk committee on which the general counsel sits; Nov. 22, 2008: control functions, except risk management, should report to the general counsel; Jan. 2, 2009: BAE Systems’ “Dispute Resolution and Risk Management” group; and May 15, 2009: chief compliance officer’s mandate converted to general counsel’s.).

Other posts discuss legal risk more generally (See my post of Feb. 15, 2009: reducing business risk should not be “critical legal issue facing business today”; June 17, 2009: operational and financial risks outrank legal risks; Aug. 12, 2008: most frequently encountered legal risks for European companies; Feb. 7, 2009: Standard & Poor’s to incorporate legal risk assessments into its ratings; Feb. 9, 2008: explain legal risks and considerations to clients; March 1, 2009: cost-effective compliance risk assessment; May 21, 2009: Nestlés legal group formally assesses risks; and Aug. 13, 2009; risk management compared to compliance, internal audit, and legal.).

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One response to “Expounding on legal risk management”

  1. Risk is the probability of occurrence of an event or activity that might have an adverse effect on the project, including on cost, schedule, safety, scope, or quality. It is therefore important to plan for risk management.