Welcome!

News Feed Item

InnovaCounsel Encourages a Business Check-Up Assessment to Determine 2013 Risk Levels

In-House Legal Services Firm Offers Six Basic Questions to Help Businesses Determine Areas of Vulnerability and Appropriate Level of Risk Going Into the New Year

IRVINE, CA -- (Marketwire) -- 02/04/13 -- InnovaCounsel LLP, a new-model law firm whose network of in-house attorneys serves as trusted business advisors to companies wishing to accelerate their growth and protect the businesses they're building, has compiled a six-question risk assessment to help companies determine whether they're due for an annual legal check-up. The exercise helps the management team create a clear picture of what's going well, what will require attention in the near future and what requires immediate action.

January presents ideal timing for many companies to examine their needs with InnovaCounsel's Risk Assessment packages, designed to uncover risks and red flags before they progress and become costly legal catastrophes. Below are six basic questions -- derived from InnovaCounsel's extensive Risk Assessment evaluation -- intended to get company leaders thinking about where their organizations might be vulnerable, and also paying closer attention to the hazards of neglecting potential problems.

Question 1: What are the consequences of undetected or unmanaged risk? Generally speaking, the answer is that companies are confronted with unpleasant surprises, such as a letter from a lawyer who represents a former employee alleging improper termination. The damages a company may pay for failing to keep up with legal compliance issues far outweigh the costs of general counsel who could have prevented a costly settlement or lawsuit in the first place. Consider the other risks your company may be facing.

Question 2: What are the implications of trusting risk management to someone with limited legal and business experience? Delegating risk management to an under-qualified employee is dangerous business. The problem is, they don't know what they don't know -- particularly in places like California, where countless laws and regulations can become landmines for employers.

Question 3: How much of your time is spent reviewing contracts, and is there a process that ensures the company complies with the contracts it signs? Simple misunderstandings present some of the biggest risks for companies that forego legal review of contracts. Seasoned lawyers know what should and shouldn't be included in an agreement and can help balance company risks.

Question 4: Are you asking your attorneys the right questions? An experienced general counsel can save the company money on outside legal fees while adding strategic value and business judgment. The CEO or CFO should understand the risks of ignoring an attorney's advice versus following it. In litigation for example, a company should fully understand the best case, worst case and most likely costs for the matter at hand, including expert fees, depositions and the like. Ask what type of reporting the firm provides. Find out whether any attorneys in the firm have experience counseling business on multiple disciplines or if all the lawyers are single-discipline experts who must consult with one another at the company's expense.

Question 5: If you could have unlimited phone conversations with a business attorney, what would you discuss? Good questions to ask are those designed to get the lawyer thinking specifically about how the law applies to your industry and what's going on in your business that makes it more or less risky than average. Excess risks can be moderated with smart policies; low-risk businesses can allocate resources to those functions that will lead to the highest return for the business.

Question 6: When was the last time you performed an internal legal audit? Companies should always be paying attention to the legal and business risks they face, including such mundane-seeming tasks as reviewing the employee handbook for current legal compliance. Part-time general counsel who are regularly exposed to the company's policies can engage in ongoing conversations that result in proactive guidance that can protect the company.

For more information on determining risk and utilizing cost-effective general-counsel services, visit www.innovacounsel.com.

ABOUT INNOVACOUNSEL: Headquartered in Irvine, Calif., InnovaCounsel is turning the traditional law firm on its head with an innovative new way of practicing law that brings talented general counsel in reach for fast-growth and mid-sized companies. InnovaCounsel's unique business model makes it financially possible for companies to enjoy all the advantages of talented and experienced in-house counsel as part of the management team for an affordable flat monthly fee. The firm's in-house general counsel services offer industry-proven, executive-level general-counsel attorneys on a full- or part-time basis for a fixed monthly retainer that's well below the cost of a traditional hourly-rate law firm -- and with none of the overhead of adding a new department. Initially launched as The General Counsel, the firm changed its name to InnovaCounsel in 2012 to better reflect its spirit of innovation. For more information, visit www.innovacounsel.com.

MEDIA CONTACT:
Leslie Licano
Beyond Fifteen Communications, Inc.
949.733.8679
[email protected]

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Cloud-based disaster recovery is critical to any production environment and is a high priority for many enterprise organizations today. Nearly 40% of organizations have had to execute their BCDR plan due to a service disruption in the past two years. Zerto on IBM Cloud offer VMware and Microsoft customers simple, automated recovery of on-premise VMware and Microsoft workloads to IBM Cloud data centers.
Why Federal cloud? What is in Federal Clouds and integrations? This session will identify the process and the FedRAMP initiative. But is it sufficient? What is the remedy for keeping abreast of cutting-edge technology? In his session at 21st Cloud Expo, Rasananda Behera will examine the proposed solutions: Private or public or hybrid cloud Responsible governing bodies How can we accomplish?
Real IoT production deployments running at scale are collecting sensor data from hundreds / thousands / millions of devices. The goal is to take business-critical actions on the real-time data and find insights from stored datasets. In his session at @ThingsExpo, John Walicki, Watson IoT Developer Advocate at IBM Cloud, will provide a fast-paced developer journey that follows the IoT sensor data from generation, to edge gateway, to edge analytics, to encryption, to the IBM Bluemix cloud, to Wa...
SYS-CON Events announced today that Massive Networks, that helps your business operate seamlessly with fast, reliable, and secure internet and network solutions, has been named "Exhibitor" of SYS-CON's 21st International Cloud Expo ®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. As a premier telecommunications provider, Massive Networks is headquartered out of Louisville, Colorado. With years of experience under their belt, their team of...
With the rise of DevOps, containers are at the brink of becoming a pervasive technology in Enterprise IT to accelerate application delivery for the business. When it comes to adopting containers in the enterprise, security is the highest adoption barrier. Is your organization ready to address the security risks with containers for your DevOps environment? In his session at @DevOpsSummit at 21st Cloud Expo, Chris Van Tuin, Chief Technologist, NA West at Red Hat, will discuss: The top security r...
Many companies start their journey to the cloud in the DevOps environment, where software engineers want self-service access to the custom tools and frameworks they need. Machine learning technology can help IT departments keep up with these demands. In his session at 21st Cloud Expo, Ajay Gulati, Co-Founder, CTO and Board Member at ZeroStack, will discuss the use of machine learning for automating provisioning of DevOps resources, taking the burden off IT teams.
SYS-CON Events announced today that Nihon Micron will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Nihon Micron Co., Ltd. strives for technological innovation to establish high-density, high-precision processing technology for providing printed circuit board and metal mount RFID tags used for communication devices. For more inf...
SYS-CON Events announced today that mruby Forum will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. mruby is the lightweight implementation of the Ruby language. We introduce mruby and the mruby IoT framework that enhances development productivity. For more information, visit http://forum.mruby.org/.
In his session at @ThingsExpo, Greg Gorman is the Director, IoT Developer Ecosystem, Watson IoT, will provide a short tutorial on Node-RED, a Node.js-based programming tool for wiring together hardware devices, APIs and online services in new and interesting ways. It provides a browser-based editor that makes it easy to wire together flows using a wide range of nodes in the palette that can be deployed to its runtime in a single-click. There is a large library of contributed nodes that help so...
SYS-CON Events announced today that SIGMA Corporation will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. uLaser flow inspection device from the Japanese top share to Global Standard! Then, make the best use of data to flip to next page. For more information, visit http://www.sigma-k.co.jp/en/.
SYS-CON Events announced today that Ryobi Systems will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Ryobi Systems Co., Ltd., as an information service company, specialized in business support for local governments and medical industry. We are challenging to achive the precision farming with AI. For more information, visit http:...
SYS-CON Events announced today that Daiya Industry will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Daiya Industry specializes in orthotic support systems and assistive devices with pneumatic artificial muscles in order to contribute to an extended healthy life expectancy. For more information, please visit https://www.daiyak...
Today traditional IT approaches leverage well-architected compute/networking domains to control what applications can access what data, and how. DevOps includes rapid application development/deployment leveraging concepts like containerization, third-party sourced applications and databases. Such applications need access to production data for its test and iteration cycles. Data Security? That sounds like a roadblock to DevOps vs. protecting the crown jewels to those in IT.
SYS-CON Events announced today that B2Cloud will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. B2Cloud specializes in IoT devices for preventive and predictive maintenance in any kind of equipment retrieving data like Energy consumption, working time, temperature, humidity, pressure, etc.
Automation is enabling enterprises to design, deploy, and manage more complex, hybrid cloud environments. Yet the people who manage these environments must be trained in and understanding these environments better than ever before. A new era of analytics and cognitive computing is adding intelligence, but also more complexity, to these cloud environments. How smart is your cloud? How smart should it be? In this power panel at 20th Cloud Expo, moderated by Conference Chair Roger Strukhoff, paneli...