Risk/Opportunity Memo Ã¯Â¿Â½ PAGE \* MERGEFORMAT Ã¯Â¿Â½10Ã¯Â¿Â½
Corporate Compliance Plan
For Riordan Manufacturing
LAW531 -Business Law
July 27, 2009
University of Phoenix
Included in this plan are the ways to effectively and simply reduce and avoid risks of liability and legal actions from exploding into a large lawsuits. Using these simple steps to avoid negative events from erupting into a large issue, can help reduce time and money for any company. Having the ability to capitalize on a risk or an event and then turning it into an opportunity can be a great asset to Riordan Manufacturing.
Corporate Compliance Plan For Riordan Manufacturing
After reviewing various departments, processes and documentation about Riordan Manufacturing, some improvements and changes might need consideration by the officers and directors of Riordan Manufacturing and Riordan Industries as a whole. Following are specific issues that could evolve into much bigger problems if the company doesn't supervise and oversee the activites involved.
When the officers and directors meet to discuss possible changes needed, they need to follow all bylaws and agreed upon proceedures as written during the creation of the corporation. If there is a disagreement or impass causing an issue from being resolved, then an alternative dispute resolution (ADR) should be in place to avoid spending time and money. An ADR should be included in any contracts with Riordan's clients, vendors and investors. This clause can help avoid going to court to settle a lawsuit. This could save the company thousands in legal fees. Below is a sample clause that could be amended for other agreements:
The parties agree to attempt, in good faith, to resolve any dispute arising from or relating to the terms of Riordan Manufacturing; and/or any specific projects in process currently and in the future..