Modern Solutions to Novel Risks
Planning for investigations and prosecutions is challenging enough in a vacuum, but a rapidly changing global environment has exacerbated this further, redefining the risk profiles of many businesses in the process. GC looks at the ways in-house counsel are grappling with such constantly disrupted risk environments.
Plans to mitigate sources of investigatory risk and respond when an investigation does occur must change according to the risk profile of the business. Between novel technologies, evolving sensibilities and seismic shifts within industry, regulators and investigatory bodies are changing focus regularly. So too are business attitudes toward risk changing.
Generally speaking, when asked how the risk profile of their business has changed over the past five years, 53% of in-house counsel said it had at least somewhat increased. When asked to look ahead at the next five years, 26% felt that the risk profile of their business would significantly increase over the next five years, with 61% feeling that there would be at least a slight increase in their business’ risk profile.
