Risk Management Warning World Economic Forum report says new practices needed to safeguard transport and supply chain networks

EU Releases Proposal for New Data Protection Laws The European Commission has this week released its proposal for a new data protection framework, signalling the most significant global legislative development affecting the collection, use and protection of personal information of the past 15 years. The Commission's proposals are aimed at updating and modernising the existing laws, which are seen as inadequate given the ways in which technology allows personal data to be used, transferred and stored. The proposed laws will require all businesses collecting personal data in the EU to make changes to the way they collect and process that data.

Timing: Key To Value Contracts professionals are really frustrated by all the panic calls from the business for a contract, a review, negotiation support. 'Why didn't they involve us earlier?' is the cry. 'I could have given so much value if they had told me sooner'.

Why only seven? I was in conversation recently with a partner at one of the largest international law firms. We were discussing ways that contracts can be an obstacle to doing business. As an example, my companion cited one of the largest technology and software companies. 'It took seven escalations before we could get hold of an editable version of their contract'.

Imprecise terms and the balance of risk I was asked recently for my opinion on the use of such vague terms as ´unforeseen circumstances´ or 'reasonable efforts' and the beleif by most lawyers (and some economists) that such language will be a cause of litigation. My correspondent observed: 'I try to argue that business people actually resort to such vague terms on purpose and often think that balance of risk allocation is important to prevent conflicts'.

EU proposes new privacy law with stiff penalties for companies The overhaul would put companies at risk of losing 2 percent of their yearly sales for a violation.

The Role Of Contract Management Many of the world's most profitable companies invest very little in their contracting process, but that does not mean they lack a contracting strategy. Indeed, they have often chosen to operate with business systems and in markets where flexibility of commercial terms and offerings is not required, or can be managed by non-contractual means.

If they can stop eggs breaking, why can't we do the same with contracts? Logistics Viewpoints has an article article about the value of business intelligence. It features a story about an on-line grocer, FreshDirect, that has survived through its ability to honor commitments and thereby maintain high levels of customer satisfaction.

Streamline Global Trade Compliance Operations for Free with TradeWizards.com Companies of all sizes are turning to globalization strategies to grow revenues and lower costs. Adhering to the country-specific regulations that govern global trade, however, can be tricky.

Chief Legal Officers Increase Use of Value-Based Fee Arrangements, Expand Globally & Express Satisfaction with Career Choice Association of Corporate Counsel's 2011 CLO Survey Reveal CLO's Continued Focus on Budgets, Law Department Management & Improved Outside Counsel Relationships. Chief Legal Officers reveal an increased interest in attaining value from their outside counsel with "improved budget and matter management" and providing the "appropriate lawyer-to-task," as key barometers, according to results from the Association of Corporate Counsel's (ACC) 2011 Chief Legal Officer Survey. Almost two-thirds (63%) of respondents are now using some type of value-based fee arrangement with a median of 10% or more of their outside counsel work performed under these fee arrangements, significantly higher percentages than those reported in 2009 (32%) and 2008 (21%).