Scenario: In the midst of the ongoing rhetoric and movement to achieve Tort Reform, business tort liability must be acknowledged and planned for as a reality. As the manager of legal risk and corporate governance for a major multi-national pharmaceutical corporation, the board of directors has commissioned you to work alongside your CEO and General Counsel to prepare a report regarding this liability and the exposure it creates for the organization.
Create a maximum 1,050-word report, excluding title and reference pages.
Address the following in the report:
- Evaluate the impact of business tort liability on the pharmaceutical industry in general.
- Determine the growth of business tort liability in the pharmaceutical industry and discuss where and why tort reform is needed.
- Assess the impact of business tort liability on corporate liability under the Alien Tort Statute.
- Explain how business tort liability can be reduced through the implementation of the risk management process.
- Analyze how business tort liability can escalate to criminal liability.
Cite a minimum of two references for the five content areas taken from a business or legal resource.