MARKET SHARE LIABILITY
\mˈɑːkɪt ʃˈe͡ə lˌa͡ɪəbˈɪlɪti], \mˈɑːkɪt ʃˈeə lˌaɪəbˈɪlɪti], \m_ˈɑː_k_ɪ_t ʃ_ˈeə l_ˌaɪ_ə_b_ˈɪ_l_ɪ_t_i]\
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Entity accountability assumes product risk liability in proportion to the entity's market share as this legal doctrine. Here is a scenario: even if an entity did not produce the actual drug that caused an injury, as a pharmaceutical company in that market, it will be liable to the complainant because it produces a different, yet specific drug with side effects. The entity incurs liability as it is in the same market as the actual company manufacturing the product that caused the injury.
By Henry Campbell Black
Word of the day
basidiomycota
- comprises fungi bearing the spores on basidium: Gasteromycetes (puffballs); Tiliomycetes (comprising orders Ustilaginales (smuts) and Uredinales (rusts)); Hymenomycetes (mushrooms; toadstools; agarics; bracket fungi); in some classification systems considered a division of kingdom comprises fungi bearing spores on a basidium; includes Gasteromycetes (puffballs) Tiliomycetes comprising the orders Ustilaginales (smuts) and Uredinales (rusts) Hymenomycetes (mushrooms, toadstools, agarics bracket fungi).