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(From Thai Press Reports)
Section: Law - Product-liability laws in the United States and Europe serve as a powerful warning to parties who introduce defective products into the marketplace that they will be held accountable for their failure to ensure that products are safe, the Bangkok Post reports.
While implementation of such laws benefits product users, stories of financial ruin or hardship, particularly to small and medium-sized businesses, abound. There is a fear that the proposed Product Liability Act will lead to an explosion of western-style product liability litigation and multi-million-baht damage awards, driving up the cost of doing business and reducing the competitiveness of Thai businesses. …