Reduce Risk to Your Firm

Risk is inherent in the practice of law. Fiduciary duty claims, lawsuits over negligence, complaints to state regulators – these are just a few possible outcomes that face practices today. Those can lead to damage awards and significant litigation costs. That doesn’t even touch on the damage that such occurrences can do to your practice’s reputation and ability to attract new clients.

It’s imperative that you reduce risk to your law firm and to your clients. Circle Management Group can help.

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Understanding the Risks You and Your Clients Face

While law firms have always faced risks, today’s world presents a wider range of sources than ever before. Protecting your firm and your clients will require a proactive stance based on a deep understanding of these dangers. Some of the most common threats we defend our clients against include the following:

• Technology: Technology is the great enabler. It can help streamline workflows, improve efficiency, and even reclaim lost billable time. However, it can also be a significant source of risk. Cybercriminals increasingly target law firms to gain access to valuable data, and it can be incredibly challenging to ensure the digital tools you and your team use are fully secure.

• The Human Element: Even with advanced cybersecurity protocols in place, your law firm and clients are still at risk from human missteps and mistakes. Phishing is a technique predicated on human gullibility, for instance. However, you don’t need a malicious attacker for human-caused mistakes to create risk for your law firm –communication errors can easily lead to claims against the firm. Failure to inform clients on important matters in a case, or even failing to return a phone call, can lead to claims against your firm.

• The Wrong People: Your clients and colleagues can create risk in their own right. Not doing your due diligence before taking on a client can lead to negative repercussions if you lack the resources necessary for their situation. Teaming with other lawyers on cases can present an additional risk if they lack the required expertise, fail to communicate, or do not take appropriate steps to protect data.

These risks are just the tip of the proverbial iceberg. From cyberattacks to fallout from missed communications or mishandled information, it is critical to take a proactive stance to mitigate these threats. Contact Circle Management Group today to learn more about how we can help.

Reducing Risk Exposure to Your Law Firm and Clients

Risk can lurk in seemingly innocuous places – inefficient workflows or the lack of a clear communication strategy, for instance. We have worked with law firms throughout North Carolina to create risk-reduction strategies through an in-depth analysis of technology, workflows, document creation and management practices, communication strategies, and more.

From change management and implementation to technology analysis and strategy development, we work with your firm to identify potential risks and alleviate them. Get in touch today for more information or to schedule a free consultation.