Taking medication for a mental health problem can be life-changing, but it’s important to know the side effects and risks of those medications. Klonopin is the brand name of clonazepam, which is often prescribed to control certain types of seizures or to treat anxiety, panic attacks or trouble sleeping. Taking Klonopin can help people control their symptoms and return to their usual activities. However, there are some side effects and risks that should be considered when taking this medication