Business Tort Liability

User Generated

qnebae88

Business Finance

Description

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.

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Explanation & Answer

Attached.

Business Tort Liability Outline
1. Evaluate the impact of business tort liability on the pharmaceutical industry in general
2. Determine the growth of business tort liability in the pharmaceutical industry
3. Discuss where and why tort reform is needed
4. Assess the impact of business tort liability on corporate liability under the Alien Tort
Statute
5. Explain how business tort liability can be reduced through the implementation of the
risk management process
6. Analyze how business tort liability can escalate to criminal liability
7. References


1

BUSINESS TORT LIABILITY

Business Tort Liability
Student Name
Institutional Affiliations

BUSINESS TORT LIABILITY

2

Evaluate the impact of business tort liability on the pharmaceutical industry in general
Researches in the contemporary community has indicated a rise in business torts especially in the
pharmaceutical industry. This is due to the increase in the number of billions companies in the
pharmaceutical industry have paid for liabilities due to their products and services in the medical
world. The production of medicinal products have different challenges and the sensitivity of
these products is critical to the performance and health of its patients and users (Zhang, 2014).
Hence, the level of risk is higher and if there are wrong practices against the value of federal
rules and regulations, it results in paying high and heft fees which will hinder a positive
reputation in the community. It is also a challenge in using and developing the necessary
resources such as meeting the expectations and regulations of the federal and department of
Justice. Due to the sensitivity in the field of pharmaceuticals, it is also difficult to maintain
positive reputation in the pharmaceutical industry. The challenge of maintaining such a ...


Anonymous
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