INTRO

I have 8 years of professional legal education and 6 years of experience.

But in my legal education, I was never taught how to manage risk.

In law school, students are taught to deal with risk in one way: by avoiding it altogether.

But when you start working with business-oriented people or become business-oriented yourself, you quickly learn that avoiding risk is not always possible or practical.

That's when you start learning how to manage risk properly.

4 RISK MANAGEMENT DECISIONS

There are four decisions you can make when it comes to managing risk:

• accept the risk,

• avoid the risk,

• transfer the risk, or

• mitigate the risk.

The best business people can deal with risk by making the optimal decision based on their experience.

While it's clear what it means to accept or avoid risk, not everyone may understand what it means to transfer or mitigate risk.

When it comes to legal risk, transferring risk may mean transferring liability to a counterparty or subsidiary, or a contractor.

Mitigating risk involves taking actions to reduce the likelihood of a risk occurring, such as accepting practical terms or implementing certain technical or organizational measures to reduce the risk of a specific event from happening.

CONCLUSIONS

The best lawyers are the ones who can help you make the right decision based on your specific situation.

They won't insist on only one option but will work with you to come up with the best solution for your business.

As an ex-lawyer, I know it is difficult to navigate through legal requirements and I know how important it is to manage risk effectively.

If you need any premium consultation feel free to reach out to me as I can connect you with the best ones.

LET’s CONNECT

I'm Jack.

I am an ex-lawyer, and now I'm the founder of a web3 project.

I spent thousands of hours analyzing web3 projects, in particular in the #NFT space and building my own venture.

Now I am sharing my knowledge with the audience on LinkedIn and via my newsletter.

With over 80 articles already written on web3, #blockchain, #NFTs, and more, I'm excited to share my expertise with you every week.

Every Tuesday, I publish an article focusing on #web3 strategies to help you thrive in this ecosystem.

Additionally, every Thursday I share my personal opinions on important web3 issues.

I would be thrilled if you subscribed to stay updated.

Feel free to reach out to me via DM!

I also created a Telegram group of like-minded people interested in media, nfts, blockchain law, content creation & business growth.

If you would like to join us to grow together, dm me and I send you the link.