Corporate Compliance Plan

Corporate Compliance Plan

University of Phoenix Law/531

Timothy T. Trump

Every large corporate entity needs to have a plan that minimizes the risk of all legal liability. Using a risk assessment team is paramount for the life of the corporations as well as those shareholders whom hold a great financial stake in the company. There are many liabilities that a corporation must be aware of and also be prepared to engage if the opportunity were to arise:

* ADR or Alternate Dispute Resolution is a form of “fixing” issues within the confines of the company or organization before it becomes a legal matter. Negotiations, arbitration, mediation these are just a few ways that a company such as Riordan Manufacturing can settle disputes without losing consumer/shareholder confidence or capital loss.

* Enterprise and product liability consist of a company’s responsibility to insure that its products are reasonably safe for consumers to utilize. Based on Riordan being a plastics manufacturing giant, keeping a large eye on the products they develop for the public and private companies will keep a lower than average chance of having to ADR an issue.

* RISK assessment, management, aversion, etc… a corporation must have the tools to sustain longevity in its perspective market. Got Riordan Manufacturing it means that its legal department has experienced members, the industrial side of the business complies with all state and federal mandates with regards to employee safety and needs, tangible and intangible properties.

* Tangible and intellectual properties are the ideas, copy rights, and physical property of the business. If Riordan wants to continue to build on the success it has enjoyed since the opening of its Chinese facility in 2000 having safe-guards should be at the top of the list. Protecting the business’ ideas through litigation is a big part of containing the integrity of the business.

* Legal forms of business are broken into several different...