Business Liability and Economic Damages

CHAPTER 4

Evidence of Loss

Let us be clear—online piracy is a real problem that harms the American economy, threatens jobs for significant numbers of middle class workers and hurts some of our nation’s most creative and innovative companies and entrepreneurs. It harms everyone from struggling artists to production crews, and from startup social media companies to large movie studios.

—Victoria Espinel, Aneesh Chopra, and Howard Schmidt1

Learning Objectives

1. 1. For a business faced with liability for economic loss, describe how evidence of loss is handled by insurance companies and the courts.
2. 2. Describe some basic factors that influence the court’s opinion on a business’s liability.
3. 3. Apply evidence and price formulas from Chapter 3 to estimate ...