There are so many sources of legal risk...

There are risks related to legal uncertainties.

There is a huge risk that is called negligence.

There are lawsuits to gain multi-million dollar fees that motivate attorneys.

Companies transact with counterparties which are subject to different legal and regulatory frameworks. And, there are so many contracts that cannot be legally enforced.

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Asbestos lawsuits are filed by persons and families who have suffered as the result of asbestos-related illness.

Defendants against asbestos lawsuits are employers, asbestos manufacturers, installers, landlords and leasing agents.

A mesothelioma case is a lawsuit filed against the negligent party responsible for the victim's development of this asbestos related cancer. 

Lawyers and attorneys are actively promoting awareness of mesothelioma symptoms.

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Basel ii Accord Section 644 to 651
V. Operational Risk

A. Definition of operational risk
644. Operational risk is defined as the risk of loss resulting from inadequate or failed internal processes, people and systems or from external events. This definition includes legal risk, (97) but excludes strategic and reputational risk.

(97) Legal risk includes, but is not limited to, exposure to fines, penalties, or punitive damages resulting from supervisory actions, as well as private settlements.

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