Learn about your customers’ business and needs . Utilize clear, catchy and “correct” info 

Stress brevity  Easy to remember = increased sales . Don’t oversell, especially w/written materials 

Balance between thoroughness and acceptability . Objective – document all significant terms of business transaction
Clear understanding of parties’ respective obligations.

Use plain English and avoid “legalese” Identify most critical factors to solidify with customers and suppliers

Know what your contracts say . Review frequently and revise as needed . Seek professional input – don’t take chances! 

Identify  every  asset  used  to  support  your organization.  Physical  assets  –  materials,  equipment,  inventory,  facilities  –  Customer  lists, market  research . Intellectual  property – patents, trademarks,  copyrights, know how, etc. . Employees  Determine  optimal  way  to  protect  assets Insurance – CGL, products  liability,  WC,   disability,  EPLI,  etc. Registration of  ideas,  designs,  products, with Patent  and  Trademark  Office .  Confidentiality  and  Non–competes  NDAs  and  invention  disclosures  with employees and  third  parties  Contractual  use  restrictions 

• Hire the best people you can find 
• Keep employees motivated 1 
• Professional challenges, new assignments 
• Combination of pay/non–pay benefits . Clear job descriptions/responsibilities 
• Frequent  review  job performance 
  Positive reinforcement,  document problems . Implement progressive disciplinary system. 

• Contractual obligations 

. Clear payment date 

• Down payment, discounts/penalties, wire 

transfer, EDI, etc. 

• Accurate and timely invoicing/bookkeeping 
• “Friendly” reminder letters 
• Initiate formal procedures 
• Attorney letter 
• Arbitration or court filing 

• Identify  magnitude  of  risk  categories 
• Historical claims/ new  trends  and 
• Industry, product, or incident–based 
• Quantify total costs (returns, management time, 

• Dynamic  model – continual assessment 
• Implement risk management models 
• Contractual limitations of liability 
• Enterprise protection 
• Insurance 

Risk managers  Succession  &  Exit  Strategies 

– Different products, services, markets 

• Responsibility for various functions 
• Who will best perform these responsibilities? 
• Will you be able to “cash-out” of business? . How to maximize value of business to  potential buyers
  Current AR, minimal claims, low turnover,  corporate governance, strong infrastructure 

• Maximize sales and  margins 
• Don‘t give  it  back  through  claims  &  refunds.
  Make  prudent  investments in  business. 
  Maximize returns  from  tax  advantaged  benefit plans.
• Diversify cash assets