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 research worksheet regarding this liability and the exposure it creates for the organization.
After reading, answer the following questions:
• 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.