The concept of mitigation is closely related to managing risk and personal responsibility. It is frequently described by the phrases ‘mitigating your losses’ or someone having a ‘duty to mitigate.’ While mitigation is a legal concept, it is rooted in everyday personal responsibility for lessening your losses. Mitigating your losses simply refers to taking reasonable steps after suffering a loss to decrease the impact of that loss. This guards against it getting worse in the future. For example, if you got a cut, you would clean and bandage it instead of bleeding out.