Does your legal department suffer from inefficient contract management?

posted in Contract Management, Legal Risk Management, Legal Technology

Inefficient contract management can take its toll on overburdened legal departments. But it’s not only a matter of wasted time. Poor contract management can also cost your business dearly. According to the International Association for Contract and Commercial Management (IACCM), inefficient contract management can cost businesses as much as 9% of annual revenue. In fact, inefficient processes can result in financial losses […]

Legal Project Management: Learning the basics to mitigate project risk

posted in Legal Risk Management

Could you benefit from a better understanding of Legal Project Management? Legal project management is no easy task. Not only does it require meticulous budget and cost controlling, but project managers also need to be able to mitigate risks that could cause the project to fail – be it a contract, merger or acquisition, or a case. Project management is the […]

Creating an effective data breach management plan to reduce risk

posted in Cybersecurity, Data Privacy, General Counsel, Legal Risk Management

According to a recent ACC survey, 70% of CLOs rate protection of corporate data and managing data breaches as an extremely or very important issue to address over the next 12 months. What’s more, 27% had experienced a data breach at their organisations within the past two years, up from 23% in the previous year’s survey. Of course, with an […]

CASE STUDY: How GNT Group built an efficient legal department with effacts

posted in Contract Management, Entity Management, General Counsel, Legal Risk Management, Legal Technology

Along with company growth comes the growth of obligations, and of course risk. That’s why a company starting out as a small local operation and growing into a large multinational soon finds themselves lacking the legal support they need. And then comes the question of how to set up the first legal department and exactly what is required. A perfect […]

How legal counsel can help identify data breach vulnerability and limit liability

posted in Cybersecurity, Data Privacy, Legal Risk Management

As Legal Counsel, you are a key player in your company’s data protection processes. Whether you work alone or in collaboration with Compliance and Data Protection Officers, it is imperative you manage your company’s legal information to minimise legal risk created by cyber attacks and data breaches. Data breaches not only affect your company’s bottom line, but if regulators and […]

The growing role of the GC in preventing data breaches – being proactive, not reactive

posted in Cybersecurity, Data Privacy, General Counsel, Legal Risk Management

Data security is a growing focus for companies and it is no longer just an IT issue. According to a Legal Week Intelligence report, nearly 50% of General Counsel say planning for cyber-security incidents and responding to breaches is now part of their job – a figure that is likely to go up as the role of the GC expands […]

What in-house lawyers need to know about IFRS 16 – the new accounting standard affecting leases

posted in Legal Risk Management

The International Accounting Standards Board (IASB) has published International Financial Reporting Standard (IFRS) 16 – the new accounting standard concerning commercial leases which comes into effect on the 1st of January 2019. Superseding the International Accounting Standard (IAS) 17, the IFRS 16 rules are set to change the way long-term leases are treated on company balance sheets. Virtually all companies […]

How to calculate your business risk using a Risk Assessment Matrix

posted in Compliance Management, Entity Management, General Counsel, Legal Risk Management, Reporting

Pulling together a risk management plan for your company is no easy feat. Firstly, you need to properly identify the full gamete of risks that could impact your business. Then gathering and compiling all the necessary information requires time and resources. But arguably the most important step of all is calculating the level of risk by creating a Risk Assessment […]

GDPR: Choosing the right tool to manage personal data processes

posted in Cloud technology, Data Privacy, Legal Risk Management

Are you searching for a tool to track and manage personal data processes within your organization? As the deadline for GDPR compliance approaches, the pressure is on to have systems and processes in place that keep data safe and help you mitigate the risks of a data breach. Obligations for both data controllers and processors have increased in comparison to the 1995 […]

What in-house lawyers need to know about data protection impact assessments (DPIA)

posted in Compliance Management, Cybersecurity, Legal Risk Management

As the deadline for complying to GDPR looms, many in-house lawyers are asking “Do I need to conduct a DPIA?”. Art. 35 GDPR introduces the data-protection impact assessment (DPIA) as a new instrument in your data protection toolkit. A DPIA serves to identify and evaluate risks within an organizations processes and systems, in order to keep the privacy of data […]