The Bribery Act 2010 could make treating your clients to the best champagne, food and tickets to watch the next major sporting event an offence.
The Act due to come into force in April could have a profound impact on business. However nobody can say for sure what will and won’t be allowed under the new rules.
Corporate hospitality is a key tool used by many businesses to either secure future business or to cement existing relationships with a client. Companies will be expected to decide for themselves what counts as “reasonable” or proportionate” hospitality and then hope they don’t incur the wrath of the authorities.
Do you currently rely on corporate hospitality as part of your marketing and business development strategy? Are you aware of the potential risk associated? I’d be interested to hear what measures you are currently taking to limit the risk.