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7 Cards in this Set
- Front
- Back
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A business risk with legal implications
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LEGAL RISK
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A comprehensive atction plan for dealing with the legal risks involved in operating a business
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LEGAL RISK MANAGEMENT PLAN
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The decision to cease a business activity because the legal risk is too great
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RISK AVOIDANCE
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Implementation of practice in a business to lower the probability of loss and its severity
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RISK REDUCTION
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The decision to shift the risk to some else through a contract
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RISK TRANSFERENCE
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The decision to absorb the loss if a legal risk materializes
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RISK RETENTION
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A person who is legally qualified to practice law
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LAWYER
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