Legal risk placement is a strategic approach used by organisations to manage legal risks effectively. It involves identifying potential legal risks that may arise from business operations, transactions, or activities and determining the most appropriate method for handling or mitigating those risks. Legal risk placement strategies may include risk avoidance, risk retention, risk transfer, and risk mitigation through insurance or other contractual arrangements. By carefully assessing and addressing legal risks, organisations can protect themselves from potential liabilities and minimise the impact of legal issues on their operations and financial stability.
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This glossary post was last updated: 29th March 2024.
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