Legal Risk Management
/ˈliːɡəl rɪsk ˈmænɪdʒmənt/
Definitions
- (n.) The process by which an organization identifies, assesses, and prioritizes legal risks to minimize, monitor, and control the probability or impact of adverse legal events.
Effective legal risk management helps corporations avoid costly litigation and regulatory penalties.
Forms
- legal risk management
Related terms
See also
Commentary
Legal risk management focuses specifically on risks arising from legal obligations and potential litigation; it is an integral part of overall enterprise risk management.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.