History
Initial interest in LGRC was driven by corporate legal departments, particularly after the financial crisis of 2007-2008 and the resulting likely regulatory climate. Like the Sarbanes-Oxley act, legal industry thought leaders saw a need for a new framework for legal GRC, and borrowed heavily from IT, RIM and other industries to try to come up with new, clear processes and rules to make navigating the choppy waters of the post-financial crisis legal world go as smoothly as possible.
Read more about this topic: Legal Governance, Risk Management, And Compliance
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