Legal Governance, Risk Management, And Compliance
Legal Governance, Risk Management, and Compliance or "LGRC", refers to the complex set of processes, rules, tools and systems used by corporate legal departments to adopt, implement and monitor an integrated approach to business problems. While Governance, Risk Management, and Compliance refers to a generalized set of tools for managing a corporation or company, Legal GRC, or LGRC, refers to a specialized – but similar – set of tools utilized by attorneys, corporate legal departments, general counsel and law firms to govern themselves and their corporations, especially but not exclusively in relation to the law. Other specializations within the realm of governance, risk management and compliance include IT GRC and financial GRC. Within these three realms, there is a great deal of overlap, particularly in large corporations that have legal and IT departments, as well as financial departments.
Read more about Legal Governance, Risk Management, And Compliance: Legal Governance, Legal Risk Management, Legal Compliance, History
Famous quotes containing the words legal, risk and/or compliance:
“We should stop looking to law to provide the final answer.... Law cannot save us from ourselves.... We have to go out and try to accomplish our goals and resolve disagreements by doing what we think is right. That energy and resourcefulness, not millions of legal cubicles, is what was great about America. Let judgment and personal conviction be important again.”
—Philip K. Howard, U.S. lawyer. The Death of Common Sense: How Law Is Suffocating America, pp. 186-87, Random House (1994)
“Man is so muddled, so dependent on the things immediately before his eyes, that every day even the most submissive believer can be seen to risk the torments of the afterlife for the smallest pleasure.”
—Joseph De Maistre (1753–1821)
“I am not of the opinion generally entertained in this country [England], that man lives by Greek and Latin alone; that is, by knowing a great many words of two dead languages, which nobody living knows perfectly, and which are of no use in the common intercourse of life. Useful knowledge, in my opinion, consists of modern languages, history, and geography; some Latin may be thrown into the bargain, in compliance with custom, and for closet amusement.”
—Philip Dormer Stanhope, 4th Earl Chesterfield (1694–1773)