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Risk Sharing in a Partnership
Abstract
Risk sharing is an activity which integrates recognition of risk, awareness of a party's capability, risk assessment, and developing strategies to accept and own the risk using managerial resources. Some traditional risk sharing philosophy is focused on taking risk of a lesser costs to the risk taker. Proper risk sharing, on the other hand, focuses on taking and acceptable risk within the capacity of the party to manage. Objective of proper risk sharing is to reduce the possibility the risk taker would not perform the part of the bargain. It may refer to numerous types of measures a partner would undertake to ensure the risk taken does not prevent the partner from performing part of the bargain. The chapter describes the different steps in risk sharing process which methods are used in the different steps, and provides some examples for risk acceptance and risk sharing that can be pursued by a partner.
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