Since the connection between business sustainability and knowledge risks has not been established in the literature so far, this paper provides a conceptual framework to demonstrate the possible impact of various knowledge risks on business sustainability and offers potential ways to manage and overcome these risks. The aim of this conceptual paper is to address two main questions: What are the potential effects of knowledge risks on the three dimensions of sustainability in organizations? and How can organizations cope with knowledge risks to become truly sustainable? Taking insights from both the theories of knowledge management and business sustainability, it proposes a research agenda both for researchers and practitioners.