The issue of security has been a controversial and much disputed subject within the field of Knowledge Sharing (KS). We have previously drawn attention to the paradox in KS security and Information Systems (IS) security. Far too little attention has been paid to integrate security into KS. Thus, this study proposes a conceptual framework of Knowledge Risk Governance (KRG) to illustrate how governance of KS risks can be applied to decrease the risks of KS. To understand how KS could be improved, we draw upon Social Exchange Theory (SET) to examine and improve KS behavior. The potential constructs for the KRG framework were identified through literature review. Therefore, the main objective of this paper is to investigate factors of the KRG framework. Finally, this paper demonstrates the importance of the KRG framework to enhance KS.