February 2014

Legal risk prevention and management

By Richard Gendron

At the start of a new year, the custom is for us to wish each other success and good health and to adopt resolutions to improve certain aspects of our personal and professional lives.

As a corporate administrator or manager, you will benefit from assessing your legal risks and ensuring that certain steps are taken to minimize your exposure.

One such step is to review the legal framework that your business has implemented and consider the circumstances which could lead to claims or losses.

For example, when is the last time you checked your insurance coverage? If you do business with American clients, does your policy extend to major claims?

If you rent space, has the lease been registered? Registering a lease will prevent a new owner from evicting you, significantly increasing the rent or making major changes to the rental terms you currently benefit from.

Do your legal documents, work documents and contracts include confidentiality and non-competition clauses?

If you share property or manage your business with others, have you agreed on a partnership or shareholders' agreement to protect you in the future?

These are just a few instances in which preventive verifications are important in order to protect your company and investment.

Your duty as an administrator is to anticipate and manage the legal risks you or your business may be exposed to.

Your attorney can assist you to ensure that all your legal documents are in order and to guide you in a process which could prove critical to the sustainability and success of your business.

Make the resolution to consult us.

We wish you much success!