The Interplay between Market Share Ratios and Manufacturer Liabilities

Posted on September 21, 2023 by admin

Understanding the correlation between market share ratios and manufacturer liabilities is essential in today’s competitive business environment. For manufacturers, the liability associated with defective goods is directly proportional to the market share they command. This post aims to delve into the intricate dynamics of this relationship, exploring how market share ratios can impact a company’s financial and legal responsibilities concerning product liability.

With a focus on manufacturer defects and the risks they pose, we will navigate through the complexities that manufacturers need to consider in their journey toward commercial success. Stay with us as we unveil the interplay between market share ratios and manufacturer liabilities.

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Manufacturer Liability

Manufacturers are liable for any defects in their goods that lead to injury or damage. However, the extent of this liability is dependent on how much of the market share they occupy. The larger a company’s market share, the greater its legal responsibility is about product liability cases. This means that manufacturers must exercise care when determining appropriate levels of production and distribution to avoid any potential liabilities.

In the event that a manufacturer is found liable for defective goods, they could face significant financial repercussions. These can range from expensive repairs and replacements to costly legal action, victim settlements, and fines. As such, manufacturers must ensure they have taken all necessary precautions to limit their liability in the event of defective goods.

Market Share Ratios

To effectively manage their liabilities, manufacturers must be aware of the market share ratios they command. Market share is a measure of how much total sales volume a company holds in comparison to its competitors. The higher a company’s market share, the more responsibility it has towards defective product cases. For instance, if a manufacturer produces and distributes a product with a 10% share of the market, then they are only liable for 10% of any defective goods-related damages. On the other hand, if that same company holds 20% or more of the market, their responsibilities may be much greater.

What to Do if You Were Injured By a Defect Product

If you or a loved one was injured by a defective product, it is important to take action. Depending on the situation, that may involve filing a personal injury lawsuit against the manufacturer. In some cases, it may be necessary to contact an experienced product liability attorney who can help guide you through the legal process. Before making any decisions, it is best to familiarize yourself with the market share ratios held by the product’s manufacturer. If they hold a large percentage of the market, then you may have grounds to pursue a more extensive claim against them.

Biggest Product Recalls in Recent Years

In 2019, one of the most notable product recalls involved a large-scale recall of Ford Fusions and Lincoln MKZs due to faulty door latches. The recall resulted in over 1 million vehicles being removed from the market, signifying how important it is for manufacturers to be aware of their market share ratios and potential liabilities. Other major product recalls include Samsung’s Galaxy Note 7 in 2016, General Motors’ ignition switch recall in 2014, and Johnson & Johnson’s Motrin Recall in 2009.

Children’s toys like hoverboards, water balloon slingshots, high-powered water guns, guns with projectile ammunition, backyard swimming pools (above-ground and in-ground), bounce houses, and lawn darts have also been recalled in recent years. These products were dangerous because of faulty design, manufacturing errors, and other issues. See our blog, “These Children’s Toys Made the Most Dangerous List for 2021” for an additional list of some toys to steer clear of.

Conclusion

Manufacturers must pay close attention to their own market share ratios when assessing potential liabilities from product defects. By understanding how their market share ratios can impact their legal responsibilities, companies can ensure they are taking appropriate action to limit potential losses from defective goods.

Would you like to learn how you can bring about a successful claim against a negligent manufacturer or company? Contact the Law Office of Craven, Hoover, and Blazek P.C. at 317-881-2700 to schedule a no-risk, no-fee consultation with an experienced product liability lawyer in Indianapolis, Indiana. We represent clients all throughout the state, so there is no need to travel if you are unable to. We can hold case evaluations via phone or video.

These Children’s Toys Made the Most Dangerous List for 2021

Posted on December 17, 2021 by admin

The holidays are fast approaching, and you probably have most of your Christmas shopping done already. But if you are taking on the role of Santa this year to a bunch of beloved kiddos, be sure to avoid toys that have been suggested to be hazardous or defective by World Against Toys Causing Harm (W.A.T.C.H.). These toys can cause serious injury or death to children of all ages, including infants and teens.

Continue below to review W.A.T.C.H.’s list for the most dangerous children’s toys of 2021, plus what to do if your child is injured by a defective toy or product in Indiana.

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W.A.T.C.H.’s List of the Most Hazardous Children’s Toys For 2021

No one wants to be responsible for providing a child with a toy that ultimately injures or maims them. It is important to strongly consider which toys and products you purchase for children by considering their age, as well as the consumer reviews on safety and operation. Common injuries that result from hazardous children’s toys include blunt force trauma, electrocutions, choking, chemical burns, and suffocation.

The World Against Toys Causing Harm (W.A.T.C.H.) is a well-revered, long-standing organization that works in depth to identify dangerous or hazardous children’s toys. According to their comprehensive studies, a child is treated every three minutes in an emergency room for toy-related injuries.

Last year, we provided a blog on the most dangerous children’s toys of 2020, so be sure to review these toys as well, as they may still be on the market and on the shelves at your local department stores and on-line. As a result of this dangerous toy list, nine children lost their lives, while nearly 200,000 others were injured, some seriously.

This year, W.A.T.C.H. suggest that these are the top 10 most dangerous children’s toys to avoid:

➀ Bright Starts Tummy Time Prop & Play – Risk of suffocation
➁ Hape Learn To Play Drum – Risk of choking
➂ Hover-1 My First Hoverboard – Risk of head injuries and orthopedic injuries
➃ Nerf Hyper Rush-40 Blaster – Risk of eye and face injuries
➄ Perfectly Cute My Lil’ Baby Feed & Go Set – Risk of choking
➅ Radio Flyer Spin ‘N Saucer – Risk of impact injuries
➆ Rollers Light-Up Heel Skates – Risk of blunt impact injuries
➇ Snake Eyes G.I. Joe Origins Ninja Strike Sickles – Risk of blunt force impact and eye injuries
➈ Squeakee Minis Poppy the Bunny – Risk of battery ingestion
➉ Walmart My Life As Shopping Basket – Risk of choking
*These are in no particular order.

Protection for Children Injured by Defective or Dangerous Toys

As United States citizens, we have certain legal protections against hazardous or unsafe products. The U.S. Consumer Product Safety Commission (CPSC) set such requirements for manufacturers, which mandate them to follow strict health and safety standards. So, when consumers are seriously injured or killed by a hazardous product, certain legal entitlement may ensue.

If your child was injured by a dangerous or defective toy, your first step is to get them immediate medical treatment. Then, as soon as possible, contact an experienced Indianapolis Indiana personal injury law firm for help pursuing legal action against the negligent manufacturer or retailer. A seasoned civil litigator will navigate your child injury product defect claim from start to finish, recovering the maximum settlement for your child’s damages and losses.

Are you looking for a qualified personal injury law firm to help you with your child injury case in Indiana? Contact the Law Office of Craven, Hoover, and Blazek P.C. at 317-881-2700 to schedule a free case evaluation and discuss the best course of action for your child injury product liability claim in Indianapolis, Indiana. We serve clients all throughout Indiana.

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What is a Defective Product?

Posted on November 22, 2019 by admin

Here in Indiana, the law regards a defective product generally as one in a condition that renders it unforeseeable and unreasonably dangerous to any consumer or their property when used in the manner intended by the manufacturer. Furthermore, a defective product can be one that does not come with sufficient user instructions or adequate warning labels. If you were recently injured by a defective product, continue reading to learn more about product liability and your rights to being compensated for your damages.

Product Liability

Manufacturers, retailers, and marketers are the common types of sellers held liable in product liability lawsuits. This legal principal is known as strict liability. If one party makes, sells, or even leases a product that meets the state criteria of a defective product, they can be held legally responsible for any physical harm suffered by the consumer, including their damages and losses, such as hospital bills and medical expenses.

However, in order for the seller to be held liable, three elements must be true. First, a seller must be involved in the sales of the product. Second, the consumer must be in a class of people that the seller would reasonably expect to be harmed and third, a consumer must have obtained the product without a substantial change in its condition.

Indiana Laws Surrounding Defective Products

Although there are no federal product liability laws, each state has their own set of regulations governing such tort claims. Indiana recognizes the Product Liability Act, §34-20-1-1. Indiana statutes of limitations gives victims two years from the date of the accident to make a claim against a manufacturer for a product defect that causes them harm. However, under strict liability, a seller cannot be held liable if they are not the maker of the product, or the part of the product that caused injury, except under certain conditions.

Understanding Product Liability Law

As you might already gauge, defective product laws and claims are quite complex, and therefore, require the services of a seasoned personal injury lawyer who can help you comprehend the laws surrounding your case in a language you can clearly understand. They have the knowledge and experience to professionally navigate your case and recover the full and fair compensation you deserve.

Indiana Product Liability Lawyers

Call the Law Office of Craven, Hoover, and Blazek P.C. at 317-881-2700 to schedule a free initial consultation with a licensed product defect lawyer in Indianapolis, Indiana. Seasoned lawyers, Daniel Craven, Ralph Hoover, and Keith Blazek, are ready to help you recover the compensation you deserve after being injured by a defective product. We represent injured people throughout the State of Indiana. Best of all, we only collect lawyer fees if we obtain a settlement for you!

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Are Warning Labels Enough to Protect Toy Manufacturers in the Case of Children’s’ Injuries?

Posted on October 17, 2017 by admin

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For any toys manufactured for children under the age of fourteen, the CPSCA (Consumer Product Safety Consumer Act), along with the Consumer Product Safety Commission, sets strict standards for product design and safety. Federal regulation and legislation provide a very explicit and detailed set of standards for toy manufacturers. Federal labs must be used to conduct tests for each toy in order to evaluate design safety and rule out product defects. And when potential hazards are foreseen by a manufacturer, some states require they place a warning label on their packaging. The labels have to be clearly visible on the package and describe the potential safety risk.

Although a warning label can inform consumers of certain foreseen hazards and safety risks, they do not cover all the possible risks and liabilities, so injuries can still happen. In the case that a child is injured by a manufacturing defect or flaw, a family could have a valid product liability claim to pursue. It is important to consult a licensed personal injury lawyer with experience in product liability claims. They can help you decide what legal approach is best for full and fair remuneration.

Can a warning label protect a toy manufacturer in a product liability case?

Not always. Warning labels do not stop defective products from injuring children, and other defects not mentioned in the label can occur as well. A manufacturer has a responsibility to make sure their products are properly tested and approved, and never unnecessarily harm a child. They also have a responsibility to warn against any unanticipated but reasonable dangers. A toy might test well as a whole, but the accessories that might come along with it could be a choking hazard not warned against. This is an example of how a warning label is not enough to exempt a toy manufacturer from legal liability when children injuries result from one of their products.

The law does not mandate that toy manufacturers design and produce toys that are entirely hazard-free and could never harm a child. This is quite impossible considering there is always risk in everything that we do. There are so many variables and factors that must be investigated and considered before assigning fault in a toy injury case. Depending on a number of aspects, a manufacturer may or may not be held liable for an injury caused by their product. It is all circumstantial. This is another reason why hiring a personal injury attorney is the best choice for a family dealing with a recent product defect injury to their child. They can determine if and where a manufacturer was negligent and caused the injury to your loved one.

Call Craven, Hoover, and Blazek P.C. at 317-881-2700 for information about filing a product liability claim in Indianapolis, IN.

Pharmaceutical Drug Defects and Lawsuits

Posted on June 21, 2016 by admin

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Unfortunately these days, new drugs and medications are rushed out on the market without being thoroughly and properly tested. This is because the pharmaceutical drug manufacturing industry has grown massively in the past few decades, and the amount capital invested in these new drugs are sky high. Without adequate testing, implications with new drugs go undiscovered.

This has led to many recent deaths and serious injuries in prescribed patients and over-the-counter medication buyers. Continue reading to learn more about pharmaceutical medication defects and what to do if you or a loved one has suffered serious injury or death caused by similar drug defects.

Defective Pharmaceutical Medications

Before being introduced to the public for resale, all drugs and medications in the United States must be approved by the Food and Drug Administration (FDA). The unfortunate part is, the FDA often times moves too fast, and does not properly test a new drug or medication before approving it. Subsequently, warning labels for these medications are insufficient and misleading. Ambiguous or deceptive warning labels can lead to patients and consumers to unknowingly abuse or misuse the drug. This is how serious injury and death occur.

It is frustrating that society entrusts their health and well-being to physicians, medical personnel, and pharmaceutical companies, only to be betrayed by improperly tested and dangerous drugs. We expect our medications to make us healthier and better, not to hurt or damage our bodies; and even worse, kill us. So how do we trust that the medications we take are safe? Here are some common long-term side effects of dangerous drugs that were introduced into the market in the past few years:

• Death
• Heart Attack
• High Blood Pressure
• Diabetes
• Internal Organ Damage
• Suppressed Appetite
• Depression
• Suicidal Thoughts and Urges
• Birth Defects
• And More

Because pharmaceutical companies are more interested in capitalizing on a new drug, and not as concerned with testing a drug for long-term side effects, many people are suffering from these debilitating health problems and more. If you or a loved one has experienced serious side effects from a new medication on the market, contact an Indianapolis Product Liability Lawyer immediately. Act fast before the statute of limitations runs out, and you and your family miss out on an opportunity to recover compensation for your damages.

Craven, Hoover, and Blazek P.C.

Personal Injury Law Firm 317-881-2700

Call Craven, Hoover, and Blazek P.C.at 317-881-2700 for help filing a product liability claim in Indianapolis, Indiana. Seasoned personal injury attorneys, Daniel Craven, Ralph Hoover, and Keith Blazek are well-versed in product liability law and retain extensive trial and litigation experience. We can help you recover fair and full compensation for your losses and damages following a wrongful death in your family. Our personal injury law firm offers free initial consultations to discuss your situation and determine if you have a valid claim. We also never collect lawyer fees unless we win your settlement! Call 317-881-2700 to schedule an appointment with a compassionate and knowledgeable Indianapolis personal injury lawyer, today.

Is Market Share Liability Still Used in Product Liability Cases?

Posted on September 9, 2015 by admin

Market share liability is a legal set of rules that plaintiffs and courts can use against a group of product manufacturers in a product liability case if the origin of the harmful product in question cannot be proven. In such a case, since there is no way of determining which manufacturer provided the fungible product that harmed a person or group of people, the law decrees that all manufacturers in the market must pay a percentage of recompense for damages. Continue reading for an example of a market share liability case, and more about how it applies to product liability cases.

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Market Share Liability

Market share liability is rarely used in the court system today. In order for it to apply, four distinct factors must be true about the case: it must be impossible to determine which manufacturer provided the actual product that harmed the actual victim, all manufacturers were active suppliers of the product when the damages occurred, the product must be fungible (the same no matter who made it), and a majority share of the manufacturers of the product must be present as defendants in the lawsuit.

If all four of these factors are true in a product liability case, market share liability could be applied. This of course all depends on individual circumstances, evidences, and varies case to case. It is important to discuss your legal questions regarding personal injury or product liability with a licensed attorney that focuses on your accident case.

Case Example

The market share doctrine originated in California after a DES case was revealed. Mothers were prescribed a medication called DES that prevented miscarriages. Later, the adult-children of these mothers began to develop reproductive tract cancers, like vaginal tumors, masses, and more. Since it was impossible to determine which drug company provided the DES that was prescribed to their mothers, the courts decided to apportion the liability among all (or most) of the drug companies that manufactured the DES medication at the time the mothers were prescribed to it.

The apportioned share in a market share liability case is not always equal among manufacturers. It is divvied according the percentage of the product they produced and distributed at the time a victim was injured by it. If you or a loved one was injured by a defective product, contact a licensed personal injury lawyer to learn your rights before the statute of limitations runs out. You could be entitled to compensation for your damages and losses.

Craven, Hoover, and Blazek P.C.

Personal Injury Lawyers 317-881-2700

Call Craven, Hoover, and Blazek P.C. at 317-881-2700 to learn about product liability or to file a defective product injury claim in Indianapolis, IN. Personal injury attorneys, Daniel Craven, Ralph Hoover, and Keith Blazek, have extensive trial and litigation experience and can offer you accurate and information answers to your legal questions. We offer free initial consultations so there is no financial obligation to discuss your case! We also never collect attorney fees unless we win your case. Call 317-881-2700 to speak with a product liability lawyer in Indianapolis, today.

Craven, Hoover, & Blazek P.C.

Tag Archives: product liability lawyer Indianapolis

These Children’s Toys Made the Most Dangerous List for 2021

W.A.T.C.H.’s List of the Most Hazardous Children’s Toys For 2021

Protection for Children Injured by Defective or Dangerous Toys

What is a Defective Product?

Product Liability

Indiana Laws Surrounding Defective Products

Understanding Product Liability Law

Indiana Product Liability Lawyers

Are Warning Labels Enough to Protect Toy Manufacturers in the Case of Children’s’ Injuries?

Can a warning label protect a toy manufacturer in a product liability case?

Pharmaceutical Drug Defects and Lawsuits

Defective Pharmaceutical Medications

Craven, Hoover, and Blazek P.C.