Assignment:

Question 1 A legal risk management plan allows businesses to take action to prevent or reduce loss.

a. Select a business of your choice. (1 mark)

b. Using the example of your chosen business, describe 3 laws that will affect your business? (3 marks)

• • Identify each statute and explain how this law affects your business

Question 2A 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 (4 marks)

b. Using the steps outlined in your answer to Question 2 a., draft a legal risk management plan for your chosen business. (6 marks)

Question 3There are a number of strategies that can be applied in managing legal risk.a. Describe the four main strategies in managing legal risk. (4 marks)b. Select two main strategies in managing legal risk and apply them to the business you have chosen. (2 marks)