It makes sense to be proactive about assessing risk factors in your corporate blogging strategy.
Wanderings recently discussed a Blogging Risk Assessment that her company's IT group performed --
"...an internal self-moderating team was pulled together to help reduce the risks associated with internal corporate blogging. One of the purposes of the team is to ensure that the internal blogosphere stays around a while… Other purposes are to remove any offending content ASAP and to role-model appropriate blogging. " -- Wanderings
"Avoid legal trouble by publishing original, accurate and non-inflammatory information. Know your rights, too."
Unfortunately this doesn't mitigate any risk except avoiding a copyright lawsuit. There are many more things that can go wrong when you (or your staff) opens up to the public Web. One thing in this article caught my attention - unrelated to blogging risk, but worth a mention...
"Save time and money by constantly learning about cheap or free blogging resources and doing as many things yourself as possible."
This is simply foolish - no business should ever take this advice about anything. Geoffrey Moore explained the difference between core and context a decade ago - any business that avoids this advice cannot outdistance its competitors. Smart businesses outsorce context and focus on core.
If blogging *is* your business then yes - do what Business BlogWire says - but if your business is anything BUT the business of blogging expertise, outsource as much as possible - build a blogging strategy that helps your company benefit from the blogospere but doesn't require your staff to become "bloggers".