Jurisdiction(s):
United Kingdom

Key definition

risk definition

What does risk mean? In legal practice, risk describes the possibility that a reasonably foreseeable circumstance or event could adversely affect legal rights, regulatory compliance, business operations, or the security of systems and data. The term is widely used across legal contexts, with certain regimes articulating it expressly. Cybersecurity: In the EU NIS2 framework (as transposed in Ireland), risk means any reasonably identifiable circumstance or event having a potentially adverse effect on the security of network and information systems. In the UK, the Network and Information Systems Regulations 2018 adopt a comparable risk‑based approach to security and incident handling; while “risk” is not defined as...

UK competition law compliance: organisation-wide risk assessment framework, template and checklist with sources, staff/competitor/operational risks, mitigation actions, senior oversight and monitoring

Published by a LexisNexis Risk & Compliance expert

Precedents

1 Introduction

1.1 We have undertaken a company-wide comprehensive review to pinpoint precisely where our exposure to breaching competition law is greatest. This document sets out the risks examined and the conclusions we have drawn. The individual accountable for completing this risk assessment is [ insert name or role ]...

1.2 The review took into account our:

1.2.1 staff;
1.2.2 competitors;
1.2.3 operations;
1.2.4 [ [ other consideration ];
1.2.5 [ other consideration ]...

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Web page updated on 22/05/2026

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