ACG Cleveland Special Editorial 2022: Hyper-risk environment requires precise contract design

Success in business is frequently determined by how effective the enterprise is at identifying and managing risks. Risk, simply put, arises from any factor, event, or occurrence that has the potential to interfere with a desired outcome. Business lawyers help their clients identify, quantify, and price each risk based on the likelihood and consequences that would result from its occurrence. No matter how much Wall Street tries to convince the market, risk cannot be eliminated. There is no such thing as an inherently good or bad risk, there are only mispriced risks.