How to calculate your business risk using a Risk Assessment Matrix

published on 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 Matrix. This is what the business takes out from the assessment and puts into action. It requires a high level of expertise and advanced analytical skills if you want the findings to be accurate and credible.

Due Diligence Report – Real Estate and IP – proving your net worth

published on Compliance Management, Contract Management, Entity Management, General Counsel, How-to, Reporting

Think you could turn around a prompt and thorough due diligence report verifying your company’s net worth if a potential investor or buyer came along? It is estimated that every year 7.5% of all company documents are lost and 3% are misfiled at a huge aggregate cost to businesses to locate or recreate these files. Not to mention that failure to provide complete information could cost your company the deal. So don’t let this be you! A large part of proving your company’s net worth includes real estate, assets and all intellectual property and this needs to be chronological, up-to-date and accurate. As a CEO, CFO or Legal Counsel, you might have most of this information on hand, but it doesn’t hurt to consolidate what you do have and areas you may need to address.

Due Diligence Reporting – commercial records & contracts, claims & compliance – are you ready?

published on Compliance Management, Contract Management, Entity Management, General Counsel, Reporting

Whether you’re a start-up or working for a well-established enterprise, one day you could find yourself lumped with the onerous task of due diligence reporting for a potential buyer or investor – and you’ll want to be prepared. If the preparation of due diligence falls on the CEO, CFO or sole Legal Counsel, it always pays to have a checklist of the key requirements upfront to ensure you don’t leave any stone unturned, and that the process runs as smoothly as possible. Here is a run down of some of the initial records and documentation to help get you on your way to due diligence perfection.

Replacing Excel with workflow software for legal departments

published on Compliance Management, Contract Management, Entity Management, Legal Risk Management, Reporting

Excel is often the first tool we reach for to compile data, calculate, and share results on a full range of matters, from contract deadlines, claim status, or data to identify risk. However, once data is plugged into a spreadsheet, we often find ourselves wanting to do more.

Preparing your startup for due diligence

published on Compliance Management, Contract Management, Entity Management, IP Management, Reporting

For many startups, the desire to keep margins thin means that you often have few resources to commit to retrieving documents, summarizing information and printing out reports. If the preparation of due diligence falls on the CEO, CFO or sole Legal Counsel, it’s vital that you leverage tools to overcome the challenges that are native to startups: lack of structure and resources. After all, you don’t want any surprises in the evaluation to derail the investment.