Top Legal Risks For Business | Franklin I. Ogele

Legal risks can be defined as chances of occurring loss due to failure to taking care of business laws. 

Following are the top legal risks that business may suffer:

1. Regulatory Risks: Dynamic policies by regulatory bodies such as the government and income tax department can be the main reason for the legal risk even it may be unintentional.

2. Dispute Risk: Any dispute between customers, stakeholders and business partners can raise the result of litigation. 

3. Reputational Risk: Due to malpractices or criminal offences, a business might get caught up in legal offence and it can raise issues for the reputation of the business.

4. Contractual Risk: Failure in fulfilment of contractual liabilities such as failure to meet terms of the contract, failure to a job as per contract etc. 

5. Compliance Risk: Penalties can be charged for not following policies or laws and it can be the worst situation a business could ever imagine because the penalties can be extended in time.

These were the top legal risks for business by Franklin I. Ogele. Keep updated for upcoming informative posts just like this.