Litigation Risk

Definition

The probability that a company will face lawsuits, ranging from 'definitely happening' to 'probably already in progress.' It's what keeps general counsel awake at night and CFOs up six more nights.

Example Usage

The acquisition presented significant litigation risk given the target company's history of employment disputes.

Source: Legal and corporate risk management terminology

Related Terms

Advanced

Malefeasance

The doing of a wrongful and injurious act, especially by a public official in their official capacity—basically, 'you did something you shouldn't have done at all.'

⚖️ Legal

Beginner

rule

The law of the land—a regulation or guideline that everyone pretends to follow until it becomes inconvenient. Whether it's a straightedge on a page or a regulation in a contract, rules are society's way of keeping chaos at bay.

⚖️ Legal

Intermediate

remanded

When a higher court tells a lower court 'nice try, but do it again' and sends a case back for round two, or when a judge sends a defendant back to their temporary home in a cell while awaiting trial. It's the legal equivalent of 'return to sender' or 'see me after class.' Either way, someone's going back to square one with extra homework.

⚖️ Legal

Advanced

cassation

The fancy legal term for when a higher court says "nope" and annuls a lower court's decision, effectively erasing it from existence. It's the judicial version of ctrl+z, typically used in civil law systems to describe supreme courts flexing their authority. Think of it as the legal system's ultimate do-over button, but with more Latin.

⚖️ Legal

Intermediate

upheld

When a higher court agrees with a lower court's decision, essentially saying "yeah, they got it right the first time" and dashing the hopes of whoever appealed. It's the judicial equivalent of your boss backing up your manager's decision after you complained to HR. Once upheld, the original ruling stands and everyone moves on (whether they like it or not).

⚖️ Legal

Beginner

Bailiff

A court officer who maintains order and security in the courtroom, announces the judge, and manages jury logistics. Basically the judge's enforcer.

⚖️ Legal

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Beginner

overrode

To cancel or reverse a decision/process using higher authority—the corporate equivalent of 'I'm the boss and I said so...