Managing risk in a law firm was once as easy as appointing a managing partner, who, after much kicking and screaming, would assume the role. But now that many law firms are large, global practices facing the same concerns as other multinational corporations, this minimalist approach is no longer enough.
Effective law firm risk management requires far more expertise today than a reluctant managing partner. Lawyers have slowly discovered that risk exposure now transcends malpractice -- the predominant liability of past decades.
