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Where you see wrong or inequality or injustice, speak out, because this is your country. This is your democracy. Make it. Protect it. Pass it on.
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Legal Definitions - industry-wide liability
Law school is a lot like juggling. With chainsaws. While on a unicycle.
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Definition of industry-wide liability
Industry-wide liability refers to the legal responsibility of all members of an industry for manufacturing a harmful or defective product. This liability is allotted by each manufacturer's market share of the industry. It is also known as enterprise liability.
For example, if several companies produce a product that causes harm to consumers, each company is held liable for the harm caused based on their market share of the industry. This means that each company is responsible for paying damages to the affected consumers.
Another example is the market-share liability theory, which is a type of industry-wide liability. This theory applies when a plaintiff cannot trace the harmful exposure to a particular product, as when several products contain a fungible substance. For instance, if a plaintiff is harmed by exposure to asbestos, and it is difficult to determine which company's asbestos caused the harm, each company that produced asbestos is held liable based on their market share of the industry.
If the law is on your side, pound the law. If the facts are on your side, pound the facts. If neither the law nor the facts are on your side, pound the table.
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Simple Definition
Industry-wide liability is when all companies in a particular industry are held responsible for any harm caused by their products, based on their market share. This means that each company is liable for a portion of the damages, proportional to their share of the market. Liability is the legal responsibility for something, either in terms of legal obligation or financial debt. It can be based on fault or strict liability, and can be shared jointly and severally or individually.
The life of the law has not been logic; it has been experience.
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