Managing the Legal Risk of a Business Client
Purpose: The purpose of the article is to analyze legal risk management in the context of business customer service. The definition of legal risk, its external and internal factors and its potential consequences for businesses are discussed. Design/Methodology/Approach: Two approaches to risk management - traditional (siloed) and integrated (ERM) - are presented, indicating their application depending on the size and specifics of the organization. The role of the lawyer as a business partner in risk minimization and the importance of a systemic approach to legal risk management are highlighted. Findings: The results of the analysis indicate that the effectiveness of legal risk management depends on the model adopted and its adaptation to the needs of the enterprise. Practical Implications: The article will serve business and legal industry representatives. Originality/Value: This article presents a self-prepared methodology for managing legal risk in business, based on my own experience. The analysis conducted creates a broad view of the client service perspective. It is focused on demonstrating the role of lawyers in ensuring legal security for businesses.