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May 2019 Economic UpdateThe May 2019 edition of the JSU Economic Update will not be available, but will resume this summer. Please make sure to read our Did You Know? section below for interesting facts and timely economic information that may be helpful to you. DID YOU KNOW?Businesses face litigation risk from the products and services provided to consumers, especially to the extent that users are not protected from potential product dangers. The manufacturing industry is often disproportionately affected and too often is found liable for large verdicts; even if a wrongful act was not committed a jury may find that more could be done to protect users. “Top Lawsuit Risks for Alabama Manufacturers and How to Manage them” is an article that identifies three top categories of lawsuits that pose a risk to manufacturers with insight into lessening.Defects in manufacturing and / or design are a frequent reason for litigation, where traumatic injury or death may result from using a manufacturer’s product. Good record keeping and evidence that a product is reasonably safe and compliant with governmental and industry standards is imperative. Marketing defects is another area of liability where a plaintiff claims a manufacturer failed to make known the dangers of a product, often through misleading advertising that make a product appear safer or more captivating. Adequately sized product labels that prominently place a warning that a reasonable person would see and understand should follow safety and legal standards in explaining risks. Class action lawsuits have the potential to inflict significant financial harm on a business as relatively small problems can be combined into a larger issue affecting many consumers. This litigation often directs much negative exposure to a firm and raises questions in the minds of potential product users of ethics and quality control. Frequently such allegations may be dismissed if addressed swiftly on jurisdictional or procedural grounds as a result of the disparate group of plaintiffs. Benjamin Boozer - EditorSource: Business Alabama ................
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