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Punitive damages are a form of legal remedy awarded to a plaintiff in a civil lawsuit. They are intended to punish the defendant for their wrongful conduct and to deter similar conduct in the future. Punitive damages are awarded in addition to compensatory damages, which are intended to compensate the plaintiff for their losses. Punitive damages are typically awarded in cases involving intentional or reckless misconduct, such as fraud, breach of contract, or negligence. The amount of punitive damages awarded is determined by the court, and is based on the severity of the defendant’s conduct and the amount of harm caused to the plaintiff. The punitive damage market is composed of legal professionals, such as attorneys and judges, who are responsible for determining the amount of punitive damages to be awarded in a case. Companies in this market include law firms, legal services providers, and court systems. Show Less Read more