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5 Reasons Why Your Business Needs a Product Liability Law Firm
If your business carries the risk of a product liability lawsuit, you need a product liability law firm that will protect your interests. Product liability suits involve allegations made against the manufacturers or sellers responsible for placing products in the hands of consumers. Most products used by consumers in the United States must meet required reliability standards as set by industry professionals or the government. If you have a business that falls within the range of potentially liable parties in products liability lawsuits (including but not limited to product designers or manufacturers, manufacturers of component parts, wholesalers, and retail stores responsible for selling the product to the consumer), your company needs a product liability law firm. Below are five ways a product liability attorney can help you:
1. Risk of huge damage awards: It is no secret that damage awards in product liability lawsuits can be huge. For 2009, Bloomberg News reported a 52% dollar-value increase over the prior year for the top-five product defect verdicts.. In today’s age of prolonged economic hardship, jurors might be more inclined to protect their fellow citizens over industry and companies who place products into the stream of commerce.
2. Not all law firms have equal experience: At Prichard Hawkins McFarland & Young (PHMY), over 50% of our practice is focused on product liability defense. When your product is being challenged and your company sued, you don’t want a generic defense lawyer chosen by the insurance company handling your case. You want a specialist. At PHMY, we represent designers, manufacturers, distributors, and retailers in litigation involving a multitude of products such as automobiles, recreational vehicles, heavy equipment, airplanes, and consumer products. Choose carefully.
3. Anticipation of plaintiff strategies: There are many different plaintiff strategies for assigning liability for a defective product. PHMY is a product liability law firm with the experience to anticipate and counter the maneuverings of the plaintiff’s attorneys. We have seen just about everything, and we have battled some of the most prominent injury lawyers in the country, so when you really need us, it won’t be our first rodeo.
4. Trial/settlement experience: It is a fact that the majority of all civil lawsuits (including product defect cases) are settled without the need for a trial. PHMY has the ability to negotiate a settlement with maximum value and minimal costs. And for cases where trial is inevitable, we have what it takes to vigorously defend your interests.
5. An Ounce of Prevention…: There are often many steps that can be taken to help minimize and prevent future complaints or allegations of product defect. Because of our experience, PHMY can help your business understand and alleviate risks that have undermined other companies.