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LSDefine

Simple English definitions for legal terms

industry-wide liability

Read a random definition: Lord Tenterden's rule

A quick definition of industry-wide liability:

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.

A more thorough explanation:

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.

industry | indutiae

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Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
BulbasaurNoLikeCardio
7:51
@texaslawhopefully: best prices and only fast food that doesn't make me sick
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