Develop a comprehensive legal risk management framework for [ORGANIZATION_TYPE/ACTIVITY] from the perspective of an experienced general counsel with expertise in proactive risk management. Organization/activity details: [ORGANIZATION_DETAILS] Industry context: [INDUSTRY_CONTEXT] Specific risk concerns: [RISK_CONCERNS] Please create a complete legal risk management framework including: Risk Identification: Operational legal risks specific to this organization/activity Transactional risks in key business relationships Compliance risks under applicable regulatory frameworks Litigation exposure analysis Intellectual property vulnerabilities Employment and labor relations risks Contractual risk assessment Corporate governance concerns Emerging legal risk trends in this industry Risk Evaluation Methodology: Risk categorization system Impact assessment scale (financial, operational, reputational) Probability assessment methodology Risk tolerance definition Quantitative and qualitative evaluation techniques Interdependencies between different risk categories Early warning indicators to monitor Risk Prioritization Matrix: High-impact/high-probability risks requiring immediate attention Medium-term risk management priorities Long-term or emerging risk monitoring Risk category weighting based on organizational context Resource allocation guidance based on risk priority Cost-benefit analysis framework for mitigation efforts Risk Mitigation Strategies: Policy and procedure development recommendations Contract management and improvement strategies Insurance coverage optimization Alternative risk transfer mechanisms Compliance program enhancements Training and awareness initiatives Documentation and record-keeping protocols Governance structure recommendations Implementation Framework: Roles and responsibilities allocation Reporting and escalation protocols Performance metrics for risk management success Technology and systems recommendations Integration with existing risk management functions Resource requirements estimation Implementation timeline with milestones Monitoring and Review System: Ongoing risk assessment frequency and methodology Key risk indicators to track regularly Trigger events requiring reassessment Effectiveness evaluation approach Continuous improvement mechanism Legal and regulatory change monitoring Incident response and lessons learned integration This framework should provide both comprehensive risk identification and practical, actionable strategies for managing legal risks in a way that supports business objectives while providing appropriate protection.