Legal risks and their management according to Standard 31022:2022

Sažetak

Managing legal risks is becoming an increasingly significant
part of corporate governance, especially in the context of increasingly
complex legislative frameworks and growing compliance requirements.
The ISO 31022:2022 standard provides guidelines for effective legal
risk management, complementing the broader frameworks of ISO
31000:2014 and ISO 31010:2019. This article explores the principles,
processes, and tools for managing legal risks and emphasizes the
importance of integrating them into overall business strategies.
Legal risks, defined as the possibility of negative consequences
arising from legal issues, include contractual risks, compliance risks,
regulatory risks, and intellectual property. Managing these risks
requires an effectively structured approach. The use of tools such as
analytics, simulations, and legal databases enables better decisionmaking
and the mitigation of potential damages.
The article also highlights the role of education and communication in
building an organizational culture focused on legal risk management.
It is important to note that implementing legal risk management
contributes to business stability, strengthens stakeholder trust, and
enables organizations to be more resilient to legal challenges.