Introduction: some spheres of social activity are predisposed to increased risk.  In the first place it concerns entrepreneurial activity, which is inevitably connected with risk more than any other types of activity. Purpose: to conduct a complex study of business risk as a civil construct. Methods: a set of methods of scientific cognition, with the dialectical method as the major one, underlies the methodological framework of the study. The author uses both general scientific methods (dialectics, analysis and synthesis, abstraction and concretization) and methods specific to legal science (comparative law research and technical legal method). Conclusions: business risk as a legal phenomenon is a probability of occurrence of adverse consequences concerning an entrepreneur’s property being either incidental or caused by his own innocent actions or innocent actions of his contractors, considering that the entrepreneur admits this probability while making decisions.

Keywords: entrepreneurial activity; risk, business risk; functions of risk; risk circumstances; civil liability

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