When it comes to running a business, there are two basic ways to earn a profit: selling products or providing a service. One of the key differences between these two approaches is that when a business is engaged mainly in selling products, it needs inventory space and it needs to focus specifically on the details of the products it sells. Knowing all about the products can help when it comes to closing a sale, but there are other reasons to be knowledgeable about the products as well.
Businesses in Nevada that primarily sell products should be aware of potential products liability claims they may face, even if they are not the company that designed or manufactured the product. However, if they are, there is an even greater concern that a products liability lawsuit may be an issue down the road, unless the company takes the proper precautions.
For starters, companies should know all about the design process for the products they sell, to ensure that no errors were made at this early stage. Next, companies need to keep an eye on the manner in which the products are manufactured. Any errors committed during the manufacturing stage could cause problems later on. Lastly, companies need to be sure that the products are being sold with the proper information available to consumers, such as information about potentially dangerous uses and specific instructions on how to properly use the product.
Business litigation can seem like an inevitable part of running a business in Nevada. But, the key is to be aware of the potential legal options when these situations arise.