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Are fears over product liability lawsuits slowing innovators?

On Behalf of | Aug 10, 2018 | Firm News |

A study published late last month by researchers at Harvard Business School suggests that prospective medical device manufacturers may have their innovative inclinations slowed because of a fear of being sued if it doesn’t work as intended. At the same time, the researchers found that the rush to patent new ideas continues to be a popular choice of many design firms.

For the purpose of their analysis, the researchers delved further into the plight of polymer, or general-purpose technologies, suppliers. More specifically, they looked at the legal risks faced by upstream suppliers, or those who took the raw materials and actually fabricated these devices impacted downstream ones. The latter are the ones actually responsible for marketing and selling a product.

What the researchers found is that, in this litigious world we live in, upstream suppliers tend to shy away from taking their innovative products to market. They often fear being held legally accountable if it fails to do what it was designed to do. They found that this has greatly impacted the downstream suppliers’ ability to be innovative in getting these implant technologies in consumers’ hands.

This fear has resulted in many companies not patenting their implant devices as much as their nonimplant ones. The researchers contend that patents for new implant technologies are 36 percent lower than those for nonimplant ones because of this.

Many states including New York allow for product designers, manufacturers and marketers to all be held liable for any injuries that a person suffers from using a dangerous or defective product. Through aggressive litigation, a Queens personal injury attorney may be able to help you recover medical costs and lost wages among other types of damages in your case.

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