Release of Liability forms helps certain types of businesses protect themselves. If you operate a business that provides physical activities such as rock-climbing lessons, walking tours, or sports tournaments, you certainly should have the participants sign a Liability Waiver. A Release will not protect your business from everything, such as negligence, but it may protect you from something the participant does to injure themselves, such as hurting themselves while skiing outside of the clearly marked, roped-off areas.