Managing Business Risk: A Practical Guide to Protecting Your Business

Contents......Page 8
Foreword by Steve Fowler, Chief Executive Officer, The Institute of Risk Management (IRM)......Page 17
Preface by Marie Gemma Dequae, Federation of European Risk Management Associations (FERMA)......Page 20
Contributors’ notes......Page 26
Introduction......Page 34
Part 1: Risk Management Strategies......Page 36
Introduction......Page 38
Risk tolerance statements for operational risk......Page 40
Risk identification and assessment......Page 41
Scenario analysis in operational and strategic risk management......Page 42
Conclusion......Page 43
Notes......Page 44
Introduction......Page 45
What opportunities are being missed?......Page 46
What improvements are required?......Page 47
How organizations should respond......Page 48
1.3 Scenario-building techniques for improved risk management......Page 50
Scenario building......Page 51
1.4 Standardizing risk management – business enabler or the risk manager’s straitjacket?......Page 56
Riskier business environment?......Page 57
Help or hinder?......Page 58
Supporting the risk manager......Page 60
The outside world......Page 61
Conclusions......Page 62
Note......Page 63
Background......Page 64
What transparency means......Page 66
What consumers are saying......Page 67
Understanding stakeholder needs......Page 68
What are the benefits?......Page 70
Summary......Page 71
1.6 Political risk......Page 72
Step 1: evaluate the threat context......Page 73
Step 2: map stakeholders......Page 74
Step 4: risk assessment......Page 75
Step 5: risk management......Page 76
Conclusion: the keys to effective political risk management......Page 77
The innovation process in the UK......Page 80
The nanoparticles example......Page 81
The UK government initiative......Page 82
The role of NanoCentral......Page 83
The precautionary principle......Page 84
Providing stakeholder reassurance......Page 85
Note......Page 87
Part 2: Insurance and Legal Liability Risks......Page 88
Introduction......Page 90
Defining insurance and risk management......Page 91
Defining contexts......Page 92
Identifying and evaluating insurable risks......Page 94
Using risk information......Page 95
Appetite and total cost of risk considerations......Page 96
In summary......Page 97
Making the polluter pay......Page 99
The Environmental Liability Directive......Page 100
Wide remit......Page 101
The cost of cleaning up......Page 102
Financial provision......Page 104
Setting the scene......Page 107
Legal background......Page 108
Health and safety in a recession......Page 110
Other relevant legislation......Page 111
Conclusion......Page 112
Introduction......Page 113
Why have it?......Page 114
Premium......Page 115
The role of the broker......Page 116
Claims......Page 117
Conclusions......Page 118
Introduction......Page 119
What is defamation?......Page 120
What is the relevant court procedure and what remedies are available if you win your case?......Page 121
Special concerns regarding the internet......Page 122
Conclusion......Page 123
Introduction......Page 124
What can go wrong – negative examples and risky situations......Page 126
What can go right – positive examples and opportunities gained......Page 127
Escrow explained......Page 128
Risk and opportunity management with software escrow......Page 132
Conclusion......Page 134
Note......Page 135
Introduction......Page 136
Why the Act has been introduced......Page 137
The new offence of corporate manslaughter......Page 138
The second stage: the senior managers......Page 139
How to prepare for the new Act......Page 140
Note......Page 141
Introduction......Page 142
Duties to investigate......Page 143
Monitoring......Page 144
Reputational damage to the subject of the investigation......Page 146
The Data Protection Act 1998......Page 147
Blagging......Page 148
Conclusion......Page 149
Part 3: Defining and Managing Intellectual Property Risks......Page 150
3.1 Risky patents......Page 152
Risks in creating patents......Page 153
Risks from patents of other companies......Page 154
Summary......Page 155
Introduction......Page 156
Intellectual property in a downturn......Page 157
Optimization of intellectual property......Page 158
Conclusions......Page 163
Notes......Page 164
The changing brand landscape......Page 165
The planning or pre-registration phase......Page 166
Securing the rights......Page 167
Follow-up and enforcement......Page 168
Conclusions......Page 169
Introduction......Page 172
Patent infringement risks......Page 173
Patent non-validity risks......Page 174
IP risk management measures for reducing infringement and non-validity risks......Page 175
Notes......Page 179
3.5 What is freedom to operate and why do you need it?......Page 180
Defining a freedom-to-operate analysis......Page 181
When a freedom-to-operate analysis should be made......Page 183
Defining the subject of a freedom-to-operate analysis......Page 184
Using the results from a freedom-to-operate analysis......Page 185
The scene......Page 187
Domain name-related risks......Page 188
Use of trademarks on the internet......Page 191
Conclusions......Page 192
3.7 IP due diligence – evaluating a target company’s IP assets before agreeing terms in a merger, acquisition or investment......Page 193
Relevant IP......Page 195
Inventor......Page 196
Patents......Page 197
How to ensure that an IP portfolio is attractive to a potential investor......Page 199
Conclusion......Page 200
3.8 Innovation risk management – evaluating your freedom to operate......Page 201
Innovation risk assessment – minimizing risks......Page 202
Evaluating your freedom to operate......Page 203
Managing innovation risks......Page 204
Potential opportunities......Page 205
Conclusion......Page 206
3.9 IP risk estimation and management: the example of patents and patent portfolios......Page 207
The commercial risks......Page 208
The patent portfolio......Page 211
The small and medium-sized company......Page 212
The spectre of third-party patent infringement......Page 213
Part 4: Operational Risk Management......Page 216
4.1 Embedding risk management and systems......Page 218
Health and safety......Page 219
Shrinking markets......Page 220
Transparency of business processes......Page 221
Conclusion......Page 222
Introduction......Page 224
Causes of failure......Page 226
How can I judge my culture?......Page 228
What human factors look like......Page 229
Conclusion......Page 230
What does risk management really mean for business?......Page 232
How published standards and methods help, and how they hinder......Page 233
The complication of human factors......Page 234
Driven to precision......Page 236
Walk the talk......Page 237
Act of faith, or proven concept?......Page 238
References and further reading......Page 239
Introduction......Page 240
The role of EDM in continuity planning......Page 242
Document management as a fraud prevention tool......Page 243
Corporate fraud is on the increase......Page 244
Conclusion......Page 245
Access control overview......Page 248
Access control points......Page 249
The wider options......Page 250
Case studies......Page 251
Conclusion......Page 252
The current environment......Page 253
Customer of choice......Page 254
Struggling suppliers......Page 255
The right tools for the job......Page 256
Practical steps to reducing supply chain vulnerability......Page 257
Stay ahead of the game......Page 259
4.7 Competence and confidence – accreditation and risk management in post-recession Britain......Page 260
Quality management – know thyself......Page 261
Confidence in inspection......Page 262
Insurance – a bit of culture......Page 263
Conclusion......Page 264
Introduction......Page 266
What are uncertainty, resilience and efficiency?......Page 267
Assumptions and uncertainty......Page 268
Assumptions, resilience and efficiency......Page 270
Uncertainty analysis......Page 272
Reduced uncertainty......Page 273
Summary......Page 274
4.9 Sometimes the softer issues cause the hardest problems......Page 275
Personalization of risk......Page 276
Perception of risk......Page 277
Quantification of risk......Page 278
Groupthink......Page 279
Notes......Page 280
Part 5: Patent Filing, Defence and Litigation......Page 282
Patents......Page 284
Protecting intellectual property through patents......Page 286
Freedom to operate......Page 287
Conclusions......Page 288
Introduction......Page 290
The 10 most compelling reasons for filing first in the United States......Page 291
Exceptions......Page 295
Notes......Page 296
Introduction......Page 298
Building an IP portfolio – geography and industry’s IP intensity......Page 301
Risk assessment of IP operations......Page 302
US changing legal and regulatory environment......Page 304
What businesses must do – best-practice approach to IP risk avoidance......Page 305
Conclusion......Page 306
References......Page 307
The PCT route......Page 308
The different steps to obtain a patent......Page 310
New EPO rules......Page 311
Opposition to a granted European patent......Page 312
Conclusions......Page 313
5.5 Patent infringement and damage claims – a new era in Europe in terms of business risks......Page 314
Claim interpretation under the national laws governing the national parts of a European patent......Page 316
Rights conferred by a patent in Europe......Page 317
Basic considerations of Directive 2004/48/EC......Page 318
Summary......Page 319
5.6 Strategies for coordinating acceleration of international patent prosecution......Page 320
Patent Prosecution Highway......Page 322
Accelerated examination in the United States......Page 324
Strategic considerations in using the PPH and/or accelerated examination......Page 325
Summary......Page 326
Appendix: Contributors’ contact list......Page 327
Index......Page 336
Index of advertisers......Page 340