A Release of Liability form – also known as a Waiver of Liability or Hold Harmless Agreement – is an important legal document used to protect businesses and individuals against potential losses caused by their activities or products. In essence, a Release of Liability Form legally releases the other party from all liability for damages, injuries or losses incurred during or resulting from the activity or product provided. These forms are often used to protect companies from legal action should something go wrong, and should always be written in a clear, comprehensive manner to ensure maximum protection.