Risk management is an essential practice for any modern organization, yet there are three major threats that can undermine its effectiveness: lack of identification, underestimation of risk, and absence of contingency planning. The first threat is the failure to properly identify risks. Many organizations neglect to conduct a thorough analysis of their operations, leaving hidden…
The distinction between professional service contracts and employment relationships may appear subtle, but it carries significant legal implications in Panama. It is essential for both companies and professionals to understand these differences in order to avoid labor-related disputes and legal contingencies. In a professional services contract, the individual works independently, without subordination, and invoices their…
The recent reform to Panama’s Social Security Law has had a significant impact on both employers and employees. This legislative update aims to strengthen the financial sustainability of the Caja de Seguro Social (CSS) and improve the medical and financial benefits available to insured individuals. Among the most notable changes are the gradual increase in…