Entrance Gate of Sejong University, Seoul, Korea

A very useful risk mitigation procedure and an essential part of Legal Risk Management (LRM)  is product loss control.  Product loss control consists of actions and processes that a company implements to both future losses or minimize the negative impact of current ones. Normally it involves the establishment of a Product Loss Control Committee with a formally designed loss control process. (more…)

Gwangali Beach, Pusan , Korea during Chusok

Like people, organizations always hope for sunny skies and calm seas as in the picture above when conducting business. No one wants to be unpleasantly surprised nor exposed to rough weather, especially if such weather causes a  person or an organizations' reputation, financial well being or its very existence to be threatened. In the past decade, due to many well publicized scandals involving companies, officers and directors, the study and implementation of risk management has become popular. (more…)

Entrance Gate of Sejong University, Seoul, Korea

As indicated in my last blog, product loss control is a very important risk mitigation process.  If properly used, loss control can reduce losses and decrease exposure associated with losses. (more…)

Sejong University,Seoul

In my previous posts I mentioned the importance of an effective compliance program, especially under United States Federal Law. (more…)

Sejong University,Seoul

Though many countries now require companies to implement compliance programs for various reasons, the United States has, through the establishment of the U.S. Federal Sentencing Guidelines ("Guidelines"), effectively mandated the creation of compliance programs in the U.S. (more…)