How is a company’s financial responsibility determined in a product liability case?

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What is the legal standard for determining whether a product is dangerous or defective?
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What types of safety warnings are required by product liability laws?
Are there any criminal penalties associated with product liability law?
Are there any regulations that govern product safety?
What is the difference between a manufacturer’s warranty and product liability law?
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What is the economic loss doctrine?
What is the difference between a “product liability” claim and a “breach of warranty” claim?
What is the “risk-benefit test”?

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