Risk Management Definition

The "Legal-Ease" Glossary
Risk Management

The method of identifying and minimizing risks that threaten your business.

Lawsuits, fire damage, and employee injuries are just a few of the risks your business faces. Practicing risk management means finding ways of minimizing these risks and covering your liability.

For example, to manage the risk of property theft at your place of business, you may decide to purchase Property Insurance, install a security system, and implement protocol for securing valuable property.

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