A proactive approach to minimizing risk is to implement a legal risk management plan.

 a. Describe the steps involved in developing a legal risk management plan

 b. Using the steps outlined in your answer to Question 2 a., draft a legal risk management plan for your chosen business. 

There are a number of strategies that can be applied in managing legal risk.

a. Describe the four main strategies for managing legal risk. 

b. Select two main strategies for managing legal risk and apply them to your chosen business.