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Risk vs Liability - What's the difference?

risk | liability |

As nouns the difference between risk and liability

is that risk is a possible, usually negative, outcome, e.g., a danger while liability is the condition of being liable.

As a verb risk

is to incur risk (to something).

risk

English

(wikipedia risk)

Alternative forms

* (archaic)

Noun

(en noun)
  • A possible, usually negative, outcome, e.g., a danger.
  • * Macaulay
    • the imminent and constant risk of assassination, a risk which has shaken very strong nerves
  • * 2006 , BBC News'' website, ''Farmers warned over skin cancer read at [http://news.bbc.co.uk/1/hi/northern_ireland/4764525.stm] on 14 May 2006
    • There was also a "degree of complacency" that the weather in the country was not good enough to present a health risk .
  • * {{quote-magazine, date=2013-06-22, volume=407, issue=8841, page=76, magazine=(The Economist)
    • , title= Snakes and ladders , passage=Risk is everywhere. From tabloid headlines insisting that coffee causes cancer (yesterday, of course, it cured it) to stern government warnings about alcohol and driving, the world is teeming with goblins. For each one there is a frighteningly precise measurement of just how likely it is to jump from the shadows and get you.}}
  • The likelihood of a negative outcome.
  • * 2006', Trever Ramsey on ''BBC News'' website, ''Exercise 'cuts skin cancer '''risk' read at [http://news.bbc.co.uk/1/hi/health/4764535.stm] on 14 May 2006
    • Taking regular exercise, coupled with a healthy diet, reduced the risk of several types of cancer.
  • * {{quote-magazine, date=2012-01, author=Stephen Ledoux, volume=100, issue=1, page=60
    • , magazine= , title= Behaviorism at 100 , passage=Becoming more aware of the progress that scientists have made on behavioral fronts can reduce the risk that other natural scientists will resort to mystical agential accounts when they exceed the limits of their own disciplinary training.}}
  • The potential (conventionally negative) should it occur.
  • * 2002', Decisioneering Inc website, ''What is '''risk ? read at [http://www.decisioneering.com/risk-analysis.html] on 14 May 2006
    • If there is a 25% chance of running over schedule, costing you a $100 out of your own pocket, that might be a risk' you are willing to take. But if you have a 5% chance of running overschedule, knowing that there is a $10,000 penalty, you might be less willing to take that ' risk .

    Derived terms

    * market risk * credit risk * currency risk * operational risk * political risk * financial risk * residual risk * health risk * inflation risk * risk management * risk assessment * risk analysis

    Verb

    (en verb)
  • To incur risk (to something).
  • * 2006 , BBC Sport website, Beckham wary over Rooney comeback read at [http://news.bbc.co.uk/sport1/hi/football/world_cup_2006/teams/england/4769433.stm] on 14 May 2006
    • England captain David Beckham has warned Wayne Rooney not to risk his long-term future by rushing his return from injury.
  • To incur risk (of something).
  • * 2006 , Transportation Alternatives'' website, ''Rail delays as thieves cut power read at [http://news.bbc.co.uk/1/hi/england/merseyside/4972476.stm] on 14 May 2006
    • These people are putting themselves in danger by physically being on or near to the railway lines and risk ing serious injury.
  • To incur risk (by something).
  • * 1999 , BBC News'' website, ''Volunteer of the Month: Andrew Hay McConnell read at [http://www.transalt.org/press/magazine/994Summer/12volunteer.html] on 14 May 2006
    • After coming to New York, I decided to risk cycling again.

    Usage notes

    * This is a catenative verb that takes the gerund (-ing) . See

    See also

    * roll the dice, take a chance

    Anagrams

    * ----

    liability

    English

    Noun

    (wikipedia liability) (liabilities)
  • the condition of being liable.
  • an obligation, debt or responsibility owed to someone.
  • * 1901 , , (w, The Monkey's Paw)
    • "I was to say that Maw and Meggins disclaim all responsibility," continued the other. "They admit no liability at all, but in consideration of your son's services they wish to present you with a certain sum as compensation."
  • a handicap that holds one back.
  • the likelihood of something happening.

    • Antonyms

    * asset

    Derived terms

    * enterprise liability * secondary liability * vicarious liability