At Cornerpoint, we are focused on risk management solutions for small businesses, using contract, insurance, employment, and tort law to prevent litigation and reduce losses.
We have all heard that with great risk comes great reward. This may be true for risks that can have both a positive and negative outcome, like expanding your scope of services or products. But it is certainly not true about those risks that only have a negative outcome, like accidental losses to employees, third-parties, and property.
Large corporations and institutions have whole departments dedicated to maximizing the positive outcomes of calculated, strategic risks, and minimizing the frequency and severity of those risks that result only in loss. Just look at these websites for Boeing and the University of Washington.
Even the smallest of businesses face risk, and benefit from risk assessment and control techniques. Risk management helps a business meet its objectives and growth targets, increases certainty and stability, and maximizes profits. Less frequent and severe losses reduce the cost of risk, by, for example, lowering insurance premiums, saving out-of-pocket expenses like deductibles, and freeing resources otherwise expended when you and your key employees have to respond to a loss. Ultimately, risk management helps ensure business continuity and survival.
Cornerpoint learns your business’s operations and goals, the effectiveness of current risk controls, and your ideal risk tolerance. We identify where your company is exposed to risks, and analyze them using legal frameworks. Cornerpoint pinpoints the root cause of the risks — for example, some may be from ineffective systems, others the result of employee indifference or carelessness, and still others may be the result of our legal environment.
The consequences of an uncontrolled risk may be exposure to litigation, property loss, injury to or loss of valuable employees, business interruption and missed opportunities, damage to reputation, or direct financial loss. Cornerpoint provides techniques to incentivize risk control and avoid these consequences, and, in the event that a loss still occurs, helps prepare and ideally transfer the risk away from the business. Transfer may include financing the risk through insurance, or through the strategic use of enforceable contracts.
Your business is fluid. When there are changes to the business or the legal environment, previous risk control methods may no longer be effective. We can also help monitor and adjust risk control techniques on an ongoing basis – whether at a set interval or as-needed.
The materials provided on this website and on social media, including but not limited to Facebook, Twitter, LinkedIn, and Google+, are for informational purposes only and are not guaranteed to be correct, complete, or current, and should not be relied on as legal advice. Every business’s circumstances are different and no results are guaranteed. Cornerpoint Law does not provide accounting, engineering, or information technology services, but may recommend that your business consult with qualified professionals in those fields. Furthermore, patent law, environmental law, and bankruptcy law are not included in Cornerpoint Law’s practice areas, and Cornerpoint Law refers those legal services to other attorneys.