The question “How can we Square the Circle” is a question that has been pursued by ancient philosophers and mathematicians since before Leonardo Da Vinci first drew his Vetruvian Man.
From a technical perspective, (as π is equal to 3,141592653), it is impossible to Square the Circle – because π is a transcendental irrational number and squares are measured in finite whole numbers. However, does a client really need to know this level of technical analysis? Some clients will and we can discuss this with them on a technical and philosophical level. But other clients will just know that it’s impossible and for them we can show them a compass, a ruler and in a minute or two, prove that it is impossible.
However, the reason for the name “Squaring the Circle” is partly related to this but also partly related to the current legal, regulatory and framework that businesses find themselves having to work within.
It is impossible to address every legal, regulatory and compliance risk. No-one expects you, as the GC/Head of Legal or Head of Compliance to do that. However, what you are expected to do is to know the Risks. Therefore, you can include those Risks you need to address, within the Square and the other Risks, those that are not material in scope or impact, with the Circle so that you have them on your Radar.
So, what WE do is help YOU identify and then address the laws that we both determine apply to you, WE then help YOU close off the Risks that we both determine are relevant to you and WE ensure that YOU are given the knowledge and tools to comply with the Regulations that YOU need to prove compliance with. This is therefore what “Squaring the Circle” is and how WE will work with YOU. i.e. YOU can place the risks, laws, regulations that are relevant to you WITHIN the square and you can place everything else OUTSIDE the square i.e. within the circle where you can keep them monitored. Plus, you then have a simple diagrammatic expression of your Risk Appetite/Statement.
This bifurcated approach is also integrated into everything that we do. The technical melded into the practical. Desire revised by realism. The concept placed into the practical. And the need for speed impacted by the need for accuracy.
And that is “Squaring the Circle” and how and why we can help you.