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It can mean either as the root of the word is "Imply" but, normally, it is used in a negative sense... especially in a court-room setting where a first event "implies" that a second event either happened, or was intended to happen. An example is when a 5yo gets on a chair to get the cookie jar down from the top shelf... It could very rationally be implied that he wanted to eat a cookie or two, not examine the art-work on the ceramic jar.

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Q: Does the word implications refer to negative and positive outcomes?
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