Defining Legal Risk

Mahler, Tobias

Defining Legal Risk

PROCEEDINGS OF THE CONFERENCE "COMMERCIAL CONTRACTING FOR STRATEGIC ADVANTAGE - POTENTIALS AND PROSPECTS", pp. 10-31, Turku University of Applied Sciences, 2007

31 Pages Posted: 19 Sep 2007

See all articles by Tobias Mahler

Tobias Mahler

University of Oslo - Norwegian Research Center for Computers and Law

Abstract

What is legal risk? This category of risk is often mentioned in the context of enterprise risk management and financial risk management. Legal risk also is a central concept in legal risk management. However, the definitions given for legal risk differ widely, and no generally accepted notion of legal risk seems to exist. The objectives of this paper are to review, systematize and analyse existing definitions of legal risk. This paper proposes a context-independent definition and classification of legal risk, based on norm theory.

Keywords: Risk management, legal theory, legal risk management

Suggested Citation: Suggested Citation

Mahler, Tobias, Defining Legal Risk. PROCEEDINGS OF THE CONFERENCE "COMMERCIAL CONTRACTING FOR STRATEGIC ADVANTAGE - POTENTIALS AND PROSPECTS", pp. 10-31, Turku University of Applied Sciences, 2007, Available at SSRN: https://ssrn.com/abstract=1014364