Definition
A Legal Obligation is a duty arising from Law that requires a person or organisation to take specified action or refrain from specified action.
Human Explanation
It identifies what an organisation must do or must not do under applicable Law.
Why it Matters
Failure to meet a Legal Obligation may create legal, financial, operational or reputational consequences.
Conceptual Boundary
A Legal Obligation arises from applicable Law, not merely from an organisation's internal procedure. Contractual and voluntary duties may be binding for different reasons.
Practical Perspective
Organisations should identify applicable Legal Obligations, record their source and scope, and assign Responsibility, Accountability and suitable oversight for their fulfilment.