The Value of a Proactive Legal Risk Management Policy for Retail Companies

Successful retailers interact with their customers in countless ways. When customers come through their doors, they interact with employees, products, and the retail space itself. Retailers also increasingly interact with their customers online, where they collect and analyze information about their customers, and communicate with them both about ongoing transactions and the possibility of future sales. The resulting complexity makes the retail sector an exciting and challenging place to do business, but it also means the legal risks facing retailers are equally complex and require proactive and sophisticated risk management strategies. Below, we discuss the kinds of events that can give rise to risk for retailers and some strategies for effectively and proactively managing those risks.
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This article was reproduced with permission of the publisher from Financier Worldwide, April 2014.