Among the many open questions about large-language models (LLMs) and generative artificial intelligence (AI) are the legal risks that may result from AI-generated content. While AI-specific regulation remains pending and continues to develop in jurisdictions around the world, the following article provides a high-level summary of illegal and harmful content risks under existing law, as well as mitigations that companies may wish to consider when developing baseline models and consumer-facing generative AI tools. (For copyright and intellectual property (IP)-related issues, see Perkins Coie Updates.)