"Sharing the Wealth? How About the Risk?" Buffalo Law Journal October 9, 2014
“Who shares the liability in the ‘sharing economy’? That is a complex and evolving question. The idea of the sharing, or peer-to-peer, economy has grown exponentially in recent years, but the speed of its growth is not matched by existing insurance industry and state regulations, which are typically slow to change and evolve,” writes Meghan M. Brown, an associate in Goldberg Segalla’s General Liability Practice Group.
“Businesses under this new model are popping up everywhere, from simple collaborative workspaces to more complicated ventures. These include travel companies such as Airbnb that allow individuals to connect directly to rent homes when traveling instead of using hotels, or ride-sharing companies that allow passengers to order rides online instead of calling a taxi. Such companies are designed to encourage individuals to generate income by letting others use their homes, cars, or other resources — ‘sharing,’ for a fee — and they frequently rely on mobile technology to connect the ‘sharor’ with the ‘sharee.’"
In this article, Meghan breaks down the liability aspect of the new sharing culture in our economy. Additionally, she offers cautionary steps to take when participating in any form of a sharing business.
Read the article here:
Meghan M. Brown, “Sharing the Wealth? How About the Risk?” Buffalo Law Journal, October 9, 2014