Global Risk Management

The attorneys at SGL are internationally recognized for having one of the most sophisticated risk management practices in the United States. Clients from both the United States and abroad regularly call upon our attorneys to assist them in navigating the growing and complicated global legal issues confronting them.

As the world of business becomes more complex and moves ever faster, common risks associated with doing business multiply. Regardless of the type of business, ‘risk management’ is becoming increasingly essential to survival in our highly competitive world marketplace.

Risk management is the practice of recognizing and analyzing the risk of loss in a business context. These risks run the gamut from product liability issues to the daily operational issues of a business enterprise.  Failure to recognize and effectively manage these risks can eventually lead to calamity, but effective risk management can minimize their effect and have a direct and beneficial impact on your company’s profitability.

As a recognized leader in this field, SGL offers an innovative service to help businesses address risk and uncertainty. By understanding your business, we can identify and evaluate areas of risk and develop systems, strategies and a plan designed to minimize those risks.

Our approach to ‘risk management’ involves developing essential policies and procedures affecting day-to-day business operations. In the area of products liability, we typically help structure a Product Review Board, which will have overall responsibility for all products designed, manufactured, and/or distributed by your company. Further, we focus on the product development files, collateral materials including, but not limited to, instruction manuals, warnings, and advertising materials, manufacturing and distribution issues, intellectual property issues, and application of any applicable standards. We understand and appreciate the need to look at all aspects of a client’s business in order to properly address risk.

The three most powerful tools used in risk management are risk identification, loss-prevention activities and insurance.  Used effectively, these will protect – and in many instances enhance – the bottom line of your business.  Once your company’s risks have been properly identified and evaluated, our attorneys will help your company strike the right balance between loss-prevention activities and insurance. We will develop and implement the appropriate strategies and procedures to minimize future risks, and we will even take care of the necessary documentation. 

In the context of recreational operations, we have significant experience identifying risk exposures and working with our clients to minimize or eliminate said exposures in a manner that has the least impact in day-to-day operations and expenses.  We apply the lessons we have learned through recreational litigation to identify areas of exposure and arrive at practical and creative solutions.  Our expertise include top to bottom review of operations, evaluation and negotiation of vendor agreements, preparation of liability releases, drafting, signage, and risk transfer.

We pride ourselves in understanding your business so that we can better serve your needs.

RESOURCES

Consumer Product Safety Commission  www.cpsc.gov
 
Federal Trade Commission  www.ftc.gov
 
Food and Drug Administration  www.fda.gov
 
ASTM  www.astm.org
 
Sporting Goods Manufacturers Association  www.sgma.com
 
Risk Insurance Management Society  www.rims.org




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