Yesterday, I wrote about Reputation Risk. Today, I want to highlight another type of risk that companies face, as well as an effort to help companies address this risk. Whether you are dealing with Sarbanes-Oxley, the Patriot Act, or other legislation that affects your business, legislative risk is an issue that companies need to be aware of.
Unfortunately, the legislative process is not nearly as transparent as it could be and new legislation can come down, affecting companies without there being a chance to analyze the potential legislation ahead of time. Sure, you can, and should read legislation at Thomas, but the process should be improved.
We have recently helped with the launch of ReadtheBill.org. The goal of ReadtheBill.org is fairly simple, require that all legislation be posted online for 72 hours before it is voted on. Please stop by and have a look.