Final answer:
While risks like regulatory dangers, divulgence of sensitive information, and reputational damage are valid concerns in NGO and corporate cooperation, the question asks for the one not included, which appears to be 'loss of objectivity.' NGOs face various other risks including grant application cycles and administrative burdens.
Step-by-step explanation:
The cooperation between NGOs and corporations can involve several risks, but the list provided in the question includes "regulatory dangers", "divulgence of sensitive information", and "reputational damage". The item that seems to be cut short is most likely "loss of objectivity", which is also a significant risk as NGOs might shift their goals to align more closely with their corporate partners, potentially undermining their own mission. However, as per the question, we need to identify the risk which is not associated with NGO and corporate cooperation.
Considering the given context, each of these risks is a valid concern except one, which was not mentioned specifically but is implied to be incorrect. In the realm of NGO activities—which often involve addressing transnational concerns such as environmental conservation, health care initiatives, and economic development—the risks also include the bureaucratic burden of grant application, which diverts attention from the core activities towards securing funding and meeting administrative requirements. As stated in the information provided, this cycle of grant seeking and administrative focus is a prevalent risk for NGOs.