The Legal Risk Management Handbook

07

Dispute risk

I constantly am amazed at how often in-house counsel (and Compliance personnel) defer to outside counsel about litigation strategy and staffing. (Mel Schwarz)

Introduction

Prevention is better than cure. However, if your legal risk mitigation efforts fail across any of the legislative/regulatory, non-contractual obligations, non-contractual rights or contractual risk categories, you are likely to find yourself in some form of legal dispute and in need of the advice contained in this chapter.

Legal disputes create a direct link between underlying legal risks and financial loss. When you pay for legal advice in relation to litigation, or make provisions against projected litigation in your accounts, you put a direct financial loss ...