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Monday, September 13, 2010

Corporate Responsibility as Legal Risk Management

Corporate Responsibility (“CR”) has been referred to as a form of “self-regulation in the shadow of the law.” It is aimed at the management of social expectations between corporate organizations and their stakeholders, most notably in the areas of environment, health and safety, employment, human rights and community relations. While CR may often be voluntarily adopted by corporate organizations, it can and should be seen to serve as an extension of sound legal management, aimed at mitigating legal and other social risks for the business organization.