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Practice Tip: Evaluating Products Liability Risks at the Corporate Level

By John O'Loughlin
January 26, 2005

Conducting a due diligence review has long been standard practice for anyone considering the purchase of a company's stock or assets or a piece of real estate. In some disciplines, such as environmental law, the potential imposition of strict liability for contamination or the threat of third-party lawsuits has resulted in comprehensive environmental due diligence becoming an essential part of any pre-acquisition review. The same is the case with respect to product liability. Given the proliferation of product liability lawsuits, due diligence should no longer be thought of as a tool used exclusively in mergers and acquisitions (“M&A”). Rather, it should become an integral part of the corporate culture.

Due Diligence: It's Not Just for M&A Anymore

A potential acquisition of a product manufacturer or distributor ' particularly those who market highly regulated or potentially dangerous products ' requires careful consideration by litigation, product liability, and insurance specialists. Such experts also can play a significant role in risk management even when an acquisition is not being contemplated. Consider the following:

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