In the Era of Intelligence, See How Digital Intelligence Can Improve the Legal Management of Modern Enterprises

Under the current economic situation where development opportunities and business risks coexist, whether an enterprise can maintain a healthy and sustainable development in the market competition and achieve a long-term foundation depends to a large extent on whether the enterprise has the ability to quickly respond to market changes and effectively manage legal risks. As one of the core management capabilities of an enterprise, legal management is of great significance to promote the construction of digital intelligence, and to create a modern management tool with scientific methods, rigorous and efficient, and to enhance the soft power of the enterprise and cultivate a modern enterprise with global competitiveness.

With the continuous advancement of my country’s major policy of governing the country according to law, people’s thinking and concept of the rule of law have been greatly improved, and legal operation and management have become the essential requirements for the sustainable development of enterprises. The advent of a new round of industrial revolution characterized by digitization, networking, and intelligence has driven changes in social production and work methods, and put forward higher requirements for enterprise management systems and management capabilities. At present, all fields of enterprises are promoting the transformation of management digital intelligence. As an important part of enterprise management, legal management must not only meet the growing demand for high-quality legal support, but also provide more solid and powerful support for the deepening of reform and high-quality development of the enterprise. Therefore, promoting the construction of digital intelligence has become an irresistible development trend and an inevitable choice.

BI Mingyu, who graduated from Tongji University majoring in law in 2010, has officially entered the legal industry after graduation. After years of study and accumulation, she has laid a solid foundation, and she has grown along the way with rich professional experience. She has a unique eye and is very interested in the field of intelligent legal affairs, and has been studying it. She is currently an independent lawyer in Shanghai AllBright (Qingdao) Law Offices, responsible for the company’s corporate due diligence and fund investigation, cooperating with the company’s listing work, managing and coordinating the work of various departments, and providing complete and feasible legal services to the company’s clients.

The purpose of an enterprise is to make profits, and at the same time, the acquisition of any profit is bound to be accompanied by risks. For an enterprise, the higher the profit, the greater the risk. The legal risk of the enterprise exists in all fields and links of the enterprise’s operation. Therefore, more and more enterprises have begun to pay attention to the control and management of legal risks, and legal risk management has become an indispensable part of enterprise risk management. BI Mingyu attaches great importance to data work. Subsequently, she combined cutting-edge information technology with the legal risk assessment system, and innovatively developed the “Legal Risk Assessment System V1.0 Based on Regional Economic Data”. The system effectively solves the risk problem of legal management under regional economic data with strong coverage and confidentiality, fully releases the potential of data, and ignites the “data engine” for the digital transformation of legal risk assessment.

The system collects and organizes the economic data of major urban areas, and studies a legal risk assessment system based on the current situation of the local legal field. Through the application of the legal risk assessment system, the specific legal risks of legal contracts are decomposed into contract content risks and contract process risks, so that enterprises can review the contract legal risks they face in a more comprehensive and structured way in enterprise contract management. Not only that, enterprises can also choose management strategies according to the level of importance and risk level, effectively reducing the possibility of contract legal risks, controlling the impact of contract legal risks, safeguarding their own interests, and escorting production and operation.

“Legal Risk Assessment System V1.0 Based on Regional Economic Data” has aroused strong repercussions in the first year it was put into the market. According to corporate legal users, through the legal risk assessment process, companies can identify high-level contract content risks and high-level contract process risks in the risk list to help them check.

And BI Mingyu also said, “The essence of legal risk assessment is not to completely eliminate risks, because there is no risk-free transaction or contract. Instead, it is necessary to combine the corporate strategy, business development and self-capacity under regional economic data, so as to help enterprises choose their own risk appetite and risk strategy. Therefore, legal risk assessment requires enterprises to choose specific management strategies for the identified risks, some should choose to accept, some should choose to avoid, some should choose to control and so on. The advantage of doing this is that the legal risks are known, rather than blindly making decisions.”

Modern corporate legal management is transforming towards digital and intelligent construction. As a senior lawyer in the field of intelligent legal affairs, BI Mingyu believes that the digitalization of enterprise legal management is not only an IT project, nor is it just a matter of the legal department, but a huge and complex system engineering. “The era of digital intelligence has been fully opened, and enterprises must actively embrace technology. On the basis of the implementation of conventional informatization project management, enterprises need to do a good job in the top-level design of the project, coordinate the promotion of project management, and strengthen system security maintenance. This not only promotes the digital and intelligent construction of legal management, but also adds technological wings to legal work, improves quality and efficiency, and helps enterprises develop with high quality.” BI Mingyu said.   (Written by WANG Zhixuan)

London Herald