business tort liability, law homework help

User Generated

rqnavryyr2011

Business Finance

Description

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.

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Explanation & Answer

Attached.

Business Tort Liability - Outline
I.
II.

Introduction
Impact on the Pharmaceutical Industry

III.

The Growth of Business Tort Liability in the Pharmaceutical Industry

IV.

Reduction of the Business Tort Liability

V.

Conclusion


Running head: BUSINESS TORT LIABILITY

Business Tort Liability
Name
Institution

1

BUSINESS TORT LIABILITY

2
Business Tort Liability
Introduction

Business torts as a whole refer to separate and civil offenses for which law may provide
monetary compensation for the party that is aggrieved as a remedy. Some torts in business are
crimes. They are wrongs committed with an intention or out of negligence. In the broad sense,
the pharmaceutical industry consists of different models of business, which cover all or only
some given parts of Pharmaceutical product life cycle. Torts according to the criminal law are
wrongs or offenses that when committed cause someone else to suffer loss or harm hence
creating a legal liability for the person responsible for the tortuous act, that is, the tort feasor.
Business torts are therefore those offenses that result in the suffering of the customers or
consumers of a particular product. They are usually in the aftermath of the negligence of the
people in charge of either manufacturing a product or selling. The liability created by the torts
committed is meant to compensate the person affected by the crime or the offenses. These
obligations are enforceable by law since the Constitution has the tort part of the law, which aims
at protecting the customers or consumers as a whole.
Pharmaceutical Corporation despite saving the lives of people through manufacturing and
provision of drugs, are also part of the business included in the list of other ...


Anonymous
This is great! Exactly what I wanted.

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