Our product liability attorneys conduct numerous legal consultations for individuals who have suffered serious injuries due to a defectively designed or manufactures consumer product ranging from defective automobiles, household appliances, surgical implants, child toys, and pharmaceutical drugs. Perhaps the most common question asked by victims to our attorneys during their legal consultations is “what is the value of my case,” or “how much is my case worth”. Each product liability case is unique consisting of a distinctive set of factors which ultimately result in an estimated value of a case. Only a thorough case review from a qualified an experienced attorney will provide you with a good estimate of the potential value of your case. Some of the most important factors attorney use in order to come up with a calculation of the estimated value of a defective product case is provided below. If you have any further legal questions or you wish to receive a free legal consultation from a defective product attorney regarding your claim contact our law office toll free (855)385-2529.
Factors Used In Determining the Value of A Product Liability Case:
Level of Harm – Injuries SufferedPerhaps the most important factor in establishing the potential value of your case. There are numerous types of injuries which can be caused by a defective product including severe burns, facial injuries, and brain injury. Injuries can also come way of long term medical complications including cancer, stroke, and heart attacks via the use of defective drugs and medication. Past and future medical costs including hospitalization and rehabilitation expenses will be presented as evidence during settlement negotiations and jury trials. It is important to compile all medical records including hospitalization cost so as to strengthen your case.
Lost Wages and Loss of Future IncomeVictims of serious injuries resulting in lost wages and salaries are entitled to financial recovery. Pay stubs and past taxes will be used to determine the amount of work time lost. In certain cases injured parties are not able to return to the same line of work due to long term injuries and permanent disabilities. Under these circumstances vocation experts will be used as expert witnesses to determine the future loss or reduction of wages.
Pain and SufferingGenerally there are two way juries come up with awards for pain and suffering. (1) Per Diem (2) Elimination of Pain Value.
- Per Diem: Under a per diem system a jury places a monetarily recoverable amount on every day a person has suffered and multiplies that amount on the number of days a person is expected to suffer from his ailments
- Elimination of Pain: The other system used by juries is how much a plaintiff would pay to eliminate the pain he is suffering.