Legal Risk for In-House Lawyers

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Legal Risk: Definition, Management and Ethics

For those in-house lawyers involved in the management of legal risk in-house, it is worth reading the executive report on ‘Legal Risk: Definition, Management and Ethics’ prepared by Professor Richard Moorhead of University College London and Dr Steven Vaughan of the University of Birmingham.

The report is a summary of their research to date into how companies define and manage legal risk and how they deal with the ethical issues posed by legal risk. The principal aim of the research is ‘to explore important dimensions of risk management and deepen a debate within the risk and in-house legal communities about best practice‘.

The authors believe their work is timely given that risk generally, and ‘conduct risk in particular, is high on corporate agendas’, and that ‘in-house lawyers face greater likelihood of scrutiny and punishment‘ following the experiences of a number of high profile companies who have had to deal with allegations of wrongdoing involving their legal functions.

A more detailed study is expected later in the year.

The report can be found at this link.