Equipment failure can be detrimental to many businesses. You might think that it’ll never affect you, but malfunctioning equipment can be anything from a faulty printer, a defective crane, or even a faulty conveyor belt. Malfunctioning equipment of any kind can have a huge impact on your business. It can result in costly downtime, a loss of earnings due to productivity levels, and even more scarily, injuries or fatalities.
As a business owner, you may like to think that you can simply rely on warranties, insurance, or the manufacturers themselves to take care of any equipment failures for you. However, unfortunately, this isn’t always the case. Read on for how to protect your business if the worst does happen.
Who’s responsible?
When equipment failure happens, the first thing you should do is determine who is liable for the failure. Often, there are multiple parties who can be held responsible. It could be down to the manufacturer, the distributor, the installer, the maintenance provider, or even the user. Usually, an investigation will need to be conducted, so you’ll not only need to be aware of who’s at fault, but you’ll also need to build a strong case and gather evidence in order to hold them accountable.
Determine the right amount of compensation
Next, malfunctioning equipment attorneys can help you pursue the right type and amount of compensation for the equipment failure. Depending on the circumstances and the evidence in the case you’ve built, you may be able to recover compensation for any property damage, loss of profits, medical expenses, and any business interruption. An attorney can then negotiate or litigate for a settlement that is just and fair.
Don’t let it happen
As a business, it’s important to do all you can to prevent equipment failures. You’ll need to analyze the root cause of any failure to ensure that you can take a proactive approach so it doesn’t happen again. You may need to consider replacing specific parts of the equipment, implementing stricter procedures within your business, or even modifying training programs
to keep your staff safe. By investing in preventive measures, you can minimize the risk of future equipment failures and protect your business from legal and financial repercussions.
Understanding federal, state, and local regulations
In order to protect your business, you must be aware of the federal, state, and local regulations that govern the design, manufacture, installation, operation, and maintenance of your equipment. If you don’t comply with any applicable regulations, the fault of an accident can be placed on your business, resulting in costly fines, penalties, and even criminal charges.
If you’re dealing with the horrors of malfunctioning equipment, don’t despair. While it can certainly be a very traumatic and stressful experience, especially if it results in injuries or fatalities, there are steps you can take to protect yourself, your staff, and your business. Hiring a manufacturing equipment attorney can give you peace and mind and help you navigate the process.
