Business Finance
Business Tort Liability

Question Description

I need an explanation for this Business Law question to help me study.

Purpose of Assignment

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 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.

Student has agreed that all tutoring, explanations, and answers provided by the tutor will be used to help in the learning process and in accordance with Studypool's honor code & terms of service.

Final Answer









Business Tort
Institutional Affiliation



Business tort or economic torts are torts that provide common law rules on liabilities that
arise from business transactions. They are wrongful acts committed against business entities,
sometimes due to recklessness or negligence but often intentional. The action causes financial or
economic losses to the business.
Despite the regulatory safety nets, threats of litigation within pharmaceutical industry still
cast risk of constraints. Notably, for vaccines, persistent disputes cast a shadow even though
there are no adverse judgments made. Companies pay high insurance premiums and still bear the
substantial cost of litigation. These measures are designed to reduce the risk and allow little
chance for unforeseen detection once compounds enter the pipeline. Business tort liability has
diminished exposure to drug development in every stage. It has influenced the establishment of
Institutional Review Boards which implements programs that monitor patients’ rights and safety.
Volunteer patients undergoing clinical trials are protected by the ethical standards and the stiff
federal regulations (Helland, Lakdawalla, Malani, & Seabury, 2014). Patients need to know the
potential hazards, aims, methods and the anticipated benefi...

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