|Regulatory Risks and Tort Liability |
|Managing Responsibilities Through Preventive Measures |
Joseph L. Schimpf
Business Law 531
William C. Johnson
Environmental issues plague the manufacturing industry as a result of modifying regulations related to clean water. Private lawsuits and class action lawsuits have had the most effect to generate compliance with environmental regulations or abating existing conditions that affect the quality of the environment. The successes these types of lawsuits have are that the outcomes of the litigation have forced businesses to analyze the costs associated with litigation, assess the potential for costly settlements, and potential business closures.
This paper will address how regulatory risks can be identified and managed through preventative, detective, and corrective measures. A business plan that addresses the manner in which regulatory risks such as tort liability can effectively be identified and managed will be developed. Common torts and regulatory...