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MGT602 - Entrepreneurship - Lecture Handout 20

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LEGAL ISSUES FOR THE ENTREPRENEURS

LEARNING OBJECTIVES

  1. To illustrate some of the fundamental issues related to contracts.
  2. To understand important issues related to insurance and product safety and liability.

PRODUCT SAFETY AND LIABILITY

The Consumer Product Safety Act, passed in 1972, created a five-member commission that has the power to prescribe safety standards for products. The commission also has the power to identify what it considers to be substantial hazards and bar products it considers unsafe. The act was amended in 1990 to establish stricter guidelines for reporting product defects and resulting injuries and deaths. Manufacturers could be subject to fines of $1.25 million for not reporting product liability settlements or court awards. Any new product should be assessed as to whether it falls under the law. If it does, the entrepreneur has to follow appropriate procedures. Product liability problems are complex. Recent attempts to reform the legislation passed in Congress but were vetoed by the President. Claims regarding product safety and liability usually fall under one of these categories:

  1. Negligence extends to all parts of the production and marketing process.
  2. WarrantyConsumers may sue when advertising overstates the benefits of a product or when the product does not perform as stated.
  3. Strict Liability. A consumer can sue on the basis that the product was defective prior to its receipt.
  4. Misrepresentation occurs when advertising or other information misrepresents material facts concerning the quality of the product. The best protection against product liability is to produce safe products and to warn consumers of any potential hazards.

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CS403 - Database Management Systems - Lecture Handout 39

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Related Content: CS403 - VU Lectures, Handouts, PPT Slides, Assignments, Quizzes, Papers & Books of Database Management Systems

Overview of Lecture

  • Introduction to Views
  • Views, Data Independence, Security
  • Choosing a Vertical and Horizontal Subset of a Table
  • A View Using Two Tables
  • A View of a View
  • A View Using a Function
  • Updates on Views

Views

Views are generally used to focus, simplify, and customize the perception each user has of the database. Views can be used as security mechanisms by allowing users to access data through the view, without granting the users permissions to directly access the underlying base tables of the view.

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