Every industry has its own unique array of risks and no advice can cover all situations; however, given general economic conditions, and particularly the problems in the financial and credit markets, directors and senior officers should begin by regularly and carefully monitoring risks that might impact the ability of the company to maintain liquidity and access to capital needed for the business to survive and hopefully expand in the future.  Directors and senior officers should anticipate that is highly likely, even for the best companies, that cash flow will be slowing down and that for the foreseeable future debt and equity capital will be unavailable or available only on terms that are prohibitively expensive.  As such, it is recommended that directors and officers should review and update the company’s operating and business plans, establish performance monitoring procedures, analyze the availability of short- and long-term capital, evaluate the condition and prospects of key business partners, analyze and upgrade disclosure and communications practices and procedures and evaluate and improve corporate governance practices.  The experienced attorneys working with The General Counsel have the legal skills and management savvy to provide strong support for each of these activities.  To learn a little more about Corporate Governance Practices in Troubled Times, please click on this link  to view a more detailed article.