Many small and medium-sized entities as well as major enterprises shy at doing business on the highly interesting US market due to product liability regulations in the US which, by European standards, seem to be completely exaggerated and inscrutable. As a matter of fact, US product liability rules have the effect of a barrier protecting US companies from their European competitors. However, according to the USAforum, there are means in order to face this situation.
The driving force behind the excessive number of lawsuits are exorbitant commissions paid to US lawyers which may amount to 50% of damages sought. The “Product liability in the USA” seminar features US legal experts and specialists from industry who will give talks on the subject matter of US product liability and present possible countermeasures. Even though claims cannot always be avoided, there are ways of limiting the risk of liability and in particular the cost incurred therewith, say the organizer of the event. Even if there were a conviction despite the countermeasures, more than 90% of all cases would end with a settlement reached out of court.
The USAforum is a business unit of the Global Competence Forum GmbH Holding which for more than a decade has informed on topics which are relevant to the US economy. The next seminar will take place on March 1st 2007 in Weilburg. The seminar programme is available on the internet.