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Legal risk management. Tobias Mahler Norwegian Research Center for Computers and Law Institute for Private Law The faculty of Law University of Oslo. Agenda. Introduction Risk management Legal risk management A real-life example Graphical modelling of legal risk. Risk management.

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Presentation Transcript
legal risk management

Legal risk management

Tobias Mahler

Norwegian Research Center for Computers and Law

Institute for Private Law

The facultyof Law

Universityof Oslo

agenda
Agenda
  • Introduction
  • Risk management
  • Legal risk management
  • A real-life example
  • Graphical modelling of legal risk
who does risk management in an enterprise
Who does risk management in an enterprise?
  • Board of directors/CEO: enterprise risk
  • Chief risk officer (CRO)/chief finance officer (CFO): financial risk
  • Product developers (e.g. engineers): product risk
  • Safety officer: risk related to health/environment/safety
  • Project managers: project risk
  • IT system engineers: IT security risk
  • Compliance officer: compliance risk
  • General Counsel (Legal): Legal risk?
risk and uncertainty
Risk and uncertainty
  • Risk is the effect of uncertainty on objectives.
    • ISO 2009
  • Uncertainty is deficiency of information related to or understanding or knowledge of an
    • event,
    • its consequence or
    • likelihood.
  • Uncertainty about
    • Facts
    • Legal norms
legal risk management9
Legal risk management

Legal risk management focuses on

  • the management of legal risk and
  • the legal management of risk.
legal risk
Legal risk
  • A legal risk is a risk that has a legal issue as its source
  • A legal issue is a set of facts that are assessed under a set of legal norms.
a real life example of identified legal risk

A real-life example of identified legal risk

Source: SAP, IFRS FINANCIAL REPORTS (2007), p. 56

case study27
Case study
  • Large industrial contract, long-term commercial relationship
  • Risk assessment from one contractor’s perspective
  • Collaboration between lawyers, managers and engineers
case study results
Case study results
  • Evaluation
    • Lawyers were able to prioritize better, based on understanding of factual uncertainty 
    • Graphical modelling of norms increased understanding by non-lawyers 
    • Modelling of legal uncertainty: inconclusive
    • Time consuming! OK for selected large scale contracts
concluding remarks
Concluding remarks
  • Risk management can be usefully applied in a legal context,
    • as a complement to existing methods
    • in collaboration with non-lawyers
  • Graphical modeling may be useful
    • to achieve a better understanding of facts
    • to explain legal consequences and simplify the results of a legal assessment