The last weak point of evaluating potential liability is exposure to the government and other regulatory bodies. General compliance with the laws is an obvious step in risk management.  This can cover everything from proper business tax filings, proper registration of your business corporation and DBA, and acquiring the appropriate business license.

Licensed or regulated industries are at high risk of government liability.  As a licensed or regulated business, non-compliance risks heavy fines and potential desist orders prohibiting you from doing business at all.  Anticipating and adjusting to new legislation should be a focus to certain industries.  No other threat could be as crippling as government involvement.

One example of a government body is the Department of Real Estate in California.  With California having one of the most, if not the most developed Real Estate law in the country, the DRE of California is sometimes slow to react to growing trends; however, when they do act, they could cost the reputation and suspend operations of a business.