For the first post, we would like to bring to our reader’s attention one of the most important factors in the success of a business, and that is, effective legal risk management. Risk management is the art and science of preventing risks, and minimizing/effectively dealing with risks if and when they arise. A successful business must adopt a comprehensive list of potential risks, and seek to effective inhibit the occurrence of risk-inducing events.

From the legal standpoint, the very first act of risk management in the life of a business is the implementation of an effective business structure. For example, from Sole Proprietorship, to Partnership and Corporation, Joint Venture, ULC and LLC, the nature of the business structure could make a world of difference for the stakeholders of the business.

Behdad Hosseini