Corporate Compliance Plan
Law/531
July 23, 2012

Company Overview
Riordan Manufacturing, a subsidiary of Riordan Industries, is an international corporation with hundreds of employees worldwide with $1billion in annual revenues, making it a Fortune 1000 business. Riordan Manufacturing is a leader in international business for its production and manufacturing of plastic and polymer injection molds. Some of their current customers and clients include the department of defense, the aircraft and automotive developers, healthcare companies, beverage, cosmetic and more. Products the company produces include but not limited to plastic bottles and containers, fans, medical stents and fans. With the corporate headquarters located in San Jose, CA, the company has several production facilities in Georgia, Michigan, and also a joint partnership within China. Today, we will present to the Officers and Directors of Riordan a Comprehensive Corporate Compliance plan to help assist Riordan continual mission and growth to which will be determined on how well the company can handle and manage compliance issues. We will cover how to manage the legal liability of officers and directors of the company, how to properly address situations when the law is violated, enterprise liability, protecting the company’s real and intellectual property, governance, and international laws that the company must follow.
Management Responsibilities and Guidelines Riordan very own Employee Handbook states the internal environment at Riordan as branded by the highest ethical standards, integrity and customer trust, all which helps establish goals that support Riordan’s corporate mission. The Employee Handbook provides the four main goals for the company: Company growth through Research and Development as an Industry Leader, Sustaining Customer Relations, Internal Employee Satisfaction and Constant and Increasing Profitability. (Apollo Group, Inc., 2006).
In this new plan, Riordan management will use Manufacturing Performance Scorecards to identify and track risk which will help on capitalizing opportunities. Because event identification is one of the perceptions of opportunity and risks for both internal and external events, manufacturing performance scorecards are going to help alleviate some of those prior issues. In order to help management create plans of action, risk assessment will help evaluate the likelihood and severity from any given risk.
Management Responsibilities At Riordan, we believe employees are a reflection of their managers, that managers set the tone for proper behaviors and how to stay ethical and legal. An excerpt from the 2006 seventh edition of Business: Its legal, ethical and global environment it states that during the scope of employment employers are liable for the actions and conduct of their employees. Our employees represent us, Riordan, and they must at all time demonstration above the standards and ethics that our company promotes and brands. Within the Employee handbook it is made clear that as a company Riordan will maintain respect with all applicable laws and regulation and that our leadership in our directors and officers and employees will do such as well while remaining honest and reframing from any illegal and unethical acts or conduct.
Riordan has also listed in the Employee Handbook important compliance issues that are in compliance with applicable local, state and federal law and regulation. We believe at Riordan that every person gets a fair chance and that Riordan does not tolerate discrimination in any form be it sex, gender, race, sexual orientation, disabilities and that all individuals have the same opportunity for career advancement. Managers will enforce those published guidelines and full comply with them, and the failure in doing so will be subject to disciplinary action which are outlined in the Employee Handbook including and up to termination. We understand that as a company we have a duty to satisfy the government rules and regulations and we will lead by example so that we can prevent the risk of fines and prosecution as well as negative imaging which can affect business revenue and reputation. If any employee has a question they may contact our legal team which is headed by Lowell Bradford, chief legal counsel for Riordan.
Legal Resolution Options At Riordan the method for settling all legal disputes will be Alternative Dispute Resolution though arbitration and negotiation. These are the most common and simplest forms of ADR. Outside of internal disagreements, Riordan will try to always avoid expensive litigation in court which can bring about negative press and affect the company’s bottom line. Using ADRs for legal resolution will help minimize unforeseen liabilities and resolve disputes quickly and as cost effectively as possible. Our Legal and Human Resource department will receive quarterly training on proper implementation ADR protocols and together will handle all cases that arise.
Governance
Riordan acts in accordance to the requirements of Sarbanes-Oxley which states, “The Sarbanes-Oxley Act requires public companies to establish and maintain adequate internal controls and procedures for financial reporting. The act requires a public company to prepare an assessment of the effectiveness of its internal controls at the end of each fiscal year. These internal audits are supervised by the audit committee.” Cheeseman, H. R. (2010). Riordan will continue maintain all current policies and enforce them through the company as well as keep employees updated through quarterly trainings which will help the company stay within compliance.
International Law
According to Cheeseman, H. R. (2010), International law is important to both nations and businesses and it is the law that governs and regulates transactions between individual and businesses in different countries. (p. 849, Cheeseman, H. R. 2010). Because Riordan does have business partners in China, the company must have specific contracts in place in regards to the facilities, to protect and ensure that there will be no future doubts of our partnership. There shall be an implementation of a clause that is geographical specific for a legal jurisdiction over any disputes and the resolution of said dispute since there is no single world court to do so. This will ensure that both parties are treated fairly and will equal legal rights, leaving the possibility of surprise out for either party.
Protecting Real and Intellectual Property When it comes to protecting Riordan real and intellectual property, mangers play a major role. Cheeseman, H. R. (2010) defines real or “tangible” property as, “physically defined property, such as goods, animals, and minerals.” They define Intellectual property as, “Patents, copyrights, trademarks, and trade secrets. Federal and state laws protect intellectual property rights from misappropriation and infringement.” Cheeseman, H. R. (2010). Management can help with protecting the company’s interest in either forms or property by implementing proper protocol and procedures that help make sure the company is secure through the appropriate channels such as making sure all patents and trademarks are registered thought the legal depart and that we copyright all property through the legal regulated entities. All employees that sign the Employee Handbook understand that they are trusted and expected to keep all Riordan important secrets safe and not display them for the public. Management will establish new and updated protocol to help with tracking and monitoring theft or leaks though IT logistics. All documentation and information will be monitored at all times as a security measure to protect against unauthorized use or clearance. A quarterly review of this system of managing thought logistics will help ensure our management is staying updated on current regulations and policies as well as security checks. In addition, all employees will have to go thought quarterly compliance training on the importance of property safety. This keeps them liable for their own actions as well as making sure that compliance is always in the foreground. In addition to the above mention, Riordan will secure proper insurance that will have enough coverage for all damages, loss and/or destruction of all company assets and equipment. It will fall on management to work together with the legal department to protect the interest of Riordan and all of its property. Monthly IT security checks will ensure that all copyrights, patents and trademarks are secure and are respected. If any violation arises it is tasked to management to contact legal immediately for a proper resolution.
Conclusion
This compliance plan will help Riordan stay in compliance with all regulatory requirements and legal statutes. With the help of management and training on being proactive and solution oriented in advance, we can ensure that this company and its brand, assets and property will be safeguarded. Through the proper implementation of legal protocol, compliance training, and management accountability Riordan will be in proper shape in the compliance department. Should anyone have any questions or concerns in regards to this plan, please contact Human Resources or a member of Legal.
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References
COSO. (2012). COSO Risk Management Guidance. Retrieved from www.coso.org
Cheeseman, H. R. (2010). Business Law: Legal Environment, Online Commerce, Business Ethics, and International Issues (7th ed.). Upper Saddle River, NJ: Pearson Education.
Executive summary. (2004). Enterprise Risk Management Intergrated Framework. Retrieved from http://www.coso.org/documents/COSO_ERM_ExecutiveSummary.pdf
Riordan Manufacuring. (2012). Retrieved from https://ecampus.phoenix.edu/secure/aapd/cist/vop/Business/Riordan/index.asp