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In an entrepreneurship context, the possibility of economic, personal or reputational loss faced by the entrepreneur and their backers, financial or otherwise, acquired through new-venture activity and as a result of the initiation, conversion and exploitation of an idea as a new venture. (See calculated risk taking, career risk, financial risk, psychic risk, risk propensity.)

Cover of Frederick, O'Connor, Kuratko (2019), Entrepreneurship Theory Process Practice (Melbourne: Cengage)Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)