Business Tort Liability, Law 531 University of Phoenix, business and finance homework help

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Question Description

You may be familiar with personal torts such as negligence; however, business torts are different as they are being committed not against the person but rather against its intangible assets. Think about what this means and how each aspect of your work might result in a business tort being committed.

Assignment Steps

Resources: Legal Environment of Business: Online Commerce, Business Ethics, and Global Issues: Ch. 5, Ch. 6 and Ch. 7; Legal Source database located in the Week 3 Electronic Reserve Readings

Scenario: In the midst of the ongoing rhetoric and movement to achieve Tort Reform, business tort liability must be acknowledged and planned for as a reality. As the manager of legal risk and corporate governance for a major multi-national pharmaceutical corporation, the board of directors has commissioned you to work alongside your CEO and General Counsel to prepare a report regarding this liability and the exposure it creates for the organization.

Create a maximum 1,050-word report, excluding title and reference pages.

Address the following in the report:

  • Evaluate the impact of business tort liability on the pharmaceutical industry in general.
  • Determine the growth of business tort liability in the pharmaceutical industry and discuss where and why tort reform is needed.
  • Assess the impact of business tort liability on corporate liability under the Alien Tort Statute.
  • Explain how business tort liability can be reduced through the implementation of the risk management process.
  • Analyze how business tort liability can escalate to criminal liability.

Cite a minimum of two references for the five content areas taken from a business or legal resource. One additional reference must be from the University Library.

Format your paper consistent with APA guidelines.

Click the Assignment Files tab to submit your assignment as a Microsoft® Word document.

Tutor Answer

agneta
School: University of Maryland

Attached.

Running head: BUSINESS TORT LIABILITY

1

Business Tort Liability
Institution Affiliation
Date

2

BUSINESS TORT LIABILITY
Introduction

Tort liabilities are also referred to as economic torts; these are torts that normally arise
from a business transaction. These are crimes that are committed against a property and they
greatly affect the business and can lead to a lot of losses to the business. It is not abnormal for
companies to be faced with tort liabilities, some of these happen due to negligence or
misrepresentation. They, however have to be careful so that this does not result in criminal
liabilities. Business tort liability normally has a negative impact to the company involved, for
instance, the company is faced with a lot of losses and damages.
Impact of Business Tort Liability to the Pharmaceutical Industry
There are so many ways in which torts happen in the pharmaceutical industry and all the
torts normally have consequences some dire that the others.

When a tort is committed

intentionally it may cause confusion to another product. This can happen to pharmaceutical
where one drug can be mistaken for another or it is passed as the other. When consumers use it,
it results to health implications, which can lead to the consumers becoming greatly sick and even
lead to death.
Tort liability in the pharmaceutical industry can result in a lot of losses and damages
goods. If the products are made in such a way that degrades their products, the companies may
have no choice but to do away with the products leading to the company suffering from some
losses. When the pharmaceutical industry is faced with a tort people and mostly the consumers
lose their trust in the industry, this affe...

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Anonymous
Excellent job

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