Law Commons^™

"Beyond The New Economy: The Other Technology Revolution" From The Entrepreneur’S Intellectual Property & Business Handbook, Jon Garon

Faculty Scholarship

This article is part of a series of book excerpts from The Entrepreneur’s Intellectual Property & Business Handbook, which provides the business, strategy, and legal reference guide for start-ups and small businesses. While the book refers to the Internet as perhaps the most significant technological change in the 21st century, computer technology, microbiology, and many other fields have undergone similar explosions in innovation.

"Avoiding The Unintended Franchise" From The Entrepreneur’S Intellectual Property & Business Handbook, Jon Garon

Faculty Scholarship

This article is part of a series of book excerpts from The Entrepreneur’s Intellectual Property & Business Handbook, which provides the business, strategy, and legal reference guide for start-ups and small businesses. The FTC Franchise Rule is not the only law regulating franchise relationships. Many states also have versions of disclosure laws or laws requiring fair dealing. The states with fair dealing regulations enforce state-based legal obligations on the franchisor that cannot be modified by the contractual terms. The intersection of federal law with the array of state regulations make the issuance of a franchise complex. A company should not …

"Business Models Of The Digital Economy" From The Entrepreneur’S Intellectual Property & Business Handbook, Jon Garon

Faculty Scholarship

This article is part of a series of book excerpts from The Entrepreneur’s Intellectual Property & Business Handbook, which provides the business, strategy, and legal reference guide for start-ups and small businesses.

"Critical Elements For The Information Enterprise" From The Entrepreneur’S Intellectual Property & Business Handbook, Jon Garon

Faculty Scholarship

This article is part of a series of book excerpts from The Entrepreneur’s Intellectual Property & Business Handbook, which provides the business, strategy, and legal reference guide for start-ups and small businesses. Information, like any other type of property, has value to the extent that it meets the standards of relevance to the recipient. Relevance may be based in part on exclusivity, but it is also based on the reliability, resilience, and security of the information. Particularly when the information is data rather than entertainment content, these features will determine the success or failure of the enterprise. Without all three …

"Becoming A Franchisor" From The Entrepreneur’S Intellectual Property & Business Handbook, Jon Garon

Faculty Scholarship

This article is part of a series of book excerpts from The Entrepreneur’s Intellectual Property & Business Handbook, which provides the business, strategy, and legal reference guide for start-ups and small businesses. Although the approach to franchising is generally to protect the naïve new business owner from being overwhelmed by the obligations of a new business, there are considerable benefits to owning and operating a franchise as well. It is a very common, popular, and profitable method for building a national or even global brand.

"Design Thinking As A Process To Find Relevance" From The Entrepreneur’S Intellectual Property & Business Handbook, Jon Garon

Faculty Scholarship

This article is part of a series of book excerpts from The Entrepreneur’s Intellectual Property & Business Handbook, which provides the business, strategy, and legal reference guide for start-ups and small businesses.

"Documenting The Limited Liability Company" From The Entrepreneur’S Intellectual Property & Business Handbook, Jon Garon

Faculty Scholarship

This article is part of a series of book excerpts from The Entrepreneur’s Intellectual Property & Business Handbook, which provides the business, strategy, and legal reference guide for start-ups and small businesses. For most small businesses, the LLC provides the best choice in terms of limiting liability, providing partnership-like tax benefits, and allowing for management provisions that are narrowly tailored to the objectives of the participants. Subchapter S corporations have the same potential tax structure as the LLC and allow for the shareholders to also be managers, but the corporate laws in most states have many provisions and requirements that …

"Disruptive Innovation And Tsunami Stressors" From The Entrepreneur’S Intellectual Property & Business Handbook, Jon Garon

Faculty Scholarship

This article is part of a series of book excerpts from The Entrepreneur’s Intellectual Property & Business Handbook, which provides the business, strategy, and legal reference guide for start-ups and small businesses.

"Exclusivity In Retail: Brand Stores And Exclusive Offers" From The Entrepreneur’S Intellectual Property & Business Handbook, Jon Garon

Faculty Scholarship

This article is part of a series of book excerpts from The Entrepreneur’s Intellectual Property & Business Handbook, which provides the business, strategy, and legal reference guide for start-ups and small businesses.

"Exclusivity In Manufacturing And Service" In The Entrepreneur’S Intellectual Property & Business Handbook, Jon Garon

Faculty Scholarship

This article is part of a series of book excerpts from The Entrepreneur’s Intellectual Property & Business Handbook, which provides the business, strategy, and legal reference guide for start-ups and small businesses. Manufacturing is the most common realm for process innovation and efficiency goals. Patents allow manufacturers to maintain extended exclusivity in their products. Trade secrets protect the methods of creating the products and the inside know-how on the best way to get the job done. Copyright is useful to protect the text of the manuals, brochures, and other printed materials, diagrams, and tools that assist with the products. Finally, …

"Exclusivity In The New Economy: Internet Businesses" In The Entrepreneur’S Intellectual Property & Business Handbook, Jon Garon

Faculty Scholarship

This article is part of a series of book excerpts from The Entrepreneur’s Intellectual Property & Business Handbook, which provides the business, strategy, and legal reference guide for start-ups and small businesses.

"Exclusivity In The New Economy: Software Strategies" In The Entrepreneur’S Intellectual Property & Business Handbook, Jon Garon

Faculty Scholarship

This article is part of a series of book excerpts from The Entrepreneur’s Intellectual Property & Business Handbook, which provides the business, strategy, and legal reference guide for start-ups and small businesses.

"Identifying The Entrepreneur’S Goal For The Business" From The Entrepreneur’S Intellectual Property & Business Handbook, Jon Garon

Faculty Scholarship

This article is part of a series of book excerpts from The Entrepreneur’s Intellectual Property & Business Handbook, which provides the business, strategy, and legal reference guide for start-ups and small businesses. An important decision to the development of a start-up business is the purpose for launching that business in the life of the entrepreneur. The purpose will, in turn, strongly influence decisions about where to raise money to start the venture and how to organize the ownership. This short exploration of the psychology behind the entrepreneur’s motivation should help predict which decisions will most likely help the business goals.

"Franchising Basics For Franchisees" From The Entrepreneur’S Intellectual Property & Business Handbook, Jon Garon

Faculty Scholarship

This article is part of a series of book excerpts from The Entrepreneur’s Intellectual Property & Business Handbook, which provides the business, strategy, and legal reference guide for start-ups and small businesses. A franchise is a license or agreement to use the existing business model provided by a company, including its trademarks, recipes and other know-how, its patented products, and processes, in exchange for agreeing to pay the company for the license and to adhere to a set of rules or guidelines on how the business is expected to operate. The company selling the franchise license is the franchisor and …

"Proper Uses Of The Business Plan" From The Entrepreneur’S Intellectual Property & Business Handbook, Jon Garon

Faculty Scholarship

This article is part of a series of book excerpts from The Entrepreneur’s Intellectual Property & Business Handbook, which provides the business, strategy, and legal reference guide for start-ups and small businesses. A useful business plan provides a blueprint for the operations, direction, and growth of a business. It explains the needs for funding, anticipates the cash flow operations of the business, highlights strategic partnerships, and serves as a proof-of-concept for key partners. The credibility of the business plan will help investors, founders, suppliers, lenders, and other key partners be able to assess the thoughtfulness and planfulness that has gone …

"The Key Business Plan Provisions" From The Entrepreneur’S Intellectual Property & Business Handbook, Jon Garon

Faculty Scholarship

This article is part of a series of book excerpts from The Entrepreneur’s Intellectual Property & Business Handbook, which provides the business, strategy, and legal reference guide for start-ups and small businesses.

"Reflecting Value In Intangibles: Proving The Worth Of Intellectual Property" From The Entrepreneur’S Intellectual Property & Business Handbook, Jon Garon

Faculty Scholarship

This article is part of a series of book excerpts from The Entrepreneur’s Intellectual Property & Business Handbook, which provides the business, strategy, and legal reference guide for start-ups and small businesses. One of the more challenging aspects of developing a company based on intellectual property assets is the challenge in valuing those assets for the purpose of both lenders and investors. As a general matter, the intellectual property assets created by a company are not reflected as having value on the company’s books. As the WIPO primer on intellectual property for small business explains, “[t]he practice of extending loans …

"Social Entrepreneurship, Public Benefit, And The Exclusivity Through Purpose" From The Entrepreneur’S Intellectual Property & Business Handbook, Jon Garon

Faculty Scholarship

This article is part of a series of book excerpts from The Entrepreneur’s Intellectual Property & Business Handbook, which provides the business, strategy, and legal reference guide for start-ups and small businesses. In the United States there has been the development of a relatively new category of for-profit enterprise that focuses on a public good that occurs directly as a consequence of the company’s operation. Unlike a tax exempt, nonprofit charity which can have no shareholders, the public benefit corporation allows for shareholders and profits, but it also allows management great flexibility in transferring the profits of the enterprise to …

"The Opportunity For Relevance—Creating Innovation And Relieving Stressors" From The Entrepreneur’S Intellectual Property & Business Handbook, Jon Garon

Faculty Scholarship

This article is part of a series of book excerpts from The Entrepreneur’s Intellectual Property & Business Handbook, which provides the business, strategy, and legal reference guide for start-ups and small businesses.

"The Small Differences And Large Similarities To The Old Sales Paradigm" From The Entrepreneur’S Intellectual Property & Business Handbook, Jon Garon

Faculty Scholarship

This article is part of a series of book excerpts from The Entrepreneur’s Intellectual Property & Business Handbook, which provides the business, strategy, and legal reference guide for start-ups and small businesses.

"Anticipating Risk" From The Entrepreneur’S Intellectual Property & Business Handbook, Jon Garon

Faculty Scholarship

This article is part of a series of book excerpts from The Entrepreneur’s Intellectual Property & Business Handbook, which provides the business, strategy, and legal reference guide for start-ups and small businesses.

"Exclusivity In Retail: The Restaurant Business" In The Entrepreneur’S Intellectual Property & Business Handbook, Jon Garon

Faculty Scholarship

This article is part of a series of book excerpts from The Entrepreneur’s Intellectual Property & Business Handbook, which provides the business, strategy, and legal reference guide for start-ups and small businesses. Since the restaurant business is a highly competitive sector with high risks, a large failure rate, and a product difficult to customize, it seems appropriate that restaurants provide the leading examples in how best to apply trademarks, copyrights, trade secrets, and publicity rights to create relevance and exclusivity as a way to gain market share and financial success.

"Paying For Exclusivity: Financing And Business Structuring" From The Entrepreneur’S Intellectual Property & Business Handbook, Jon Garon

Faculty Scholarship

This article is part of a series of book excerpts from The Entrepreneur’s Intellectual Property & Business Handbook, which provides the business, strategy, and legal reference guide for start-ups and small businesses.

"Understanding The Franchise Agreement" From The Entrepreneur’S Intellectual Property & Business Handbook, Jon Garon

Faculty Scholarship

This article is part of a series of book excerpts from The Entrepreneur’s Intellectual Property & Business Handbook, which provides the business, strategy, and legal reference guide for start-ups and small businesses.

Can Restitution Save Fragile Spiderless Networks?, Ariel Porat, Robert E. Scott

Faculty Scholarship

This Article examines the dramatic increase in business networks in recent decades and considers whether the law can play a useful role in supporting the efficient functioning of these inter-firm relationships for coordination and cooperation. Repeat play, reputational sanctions, and norms of trust and reciprocity are the common explanations for the flourishing of networks in many industries and places. But the evidence also shows that a certain class of networks often fails to survive or function effectively and beneficial cooperation among these network members is impaired. These fragile networks develop organically without a controlling party or hierarchy at the center …

Regulating Complacency: Human Limitations And Legal Efficacy, Steven L. Schwarcz

Faculty Scholarship

This Article examines how insights into limited human rationality can improve financial regulation. The Article identifies four categories of limitations—herd behavior, cognitive biases, overreliance on heuristics, and a proclivity to panic—that undermine the perfect-market regulatory assumptions that parties have full information and will act in their rational self-interest. The Article then analyzes how insights into these limitations can be used to correct resulting market failures. Requiring more robust disclosure and due diligence, for example, can help to reduce reliance on misleading information cascades that motivate herd behavior. Debiasing through law, such as requiring more specific, poignant, and concrete disclosure of …

Fiduciary Principles In Agency Law, Deborah A. Demott

Faculty Scholarship

No abstract provided.

The Myth Of The Ideal Investor, Elisabeth De Fontenay

Faculty Scholarship

Critiques of specific investor behavior often assume an ideal investor against which all others should be compared. This ideal investor figures prominently in the heated debates over the impact of investor time horizons on firm value. In much of the commentary, the ideal is a longterm investor that actively monitors management, but the specifics are typically left vague. That is no coincidence. The various characteristics that we might wish for in such an investor cannot peacefully coexist in practice.

If the ideal investor remains illusory, which of the real-world investor types should we champion instead? The answer, I argue, is …

Amazon – An Infrastructure Service And Its Challenge To Current Antitrust Law, Lina M. Khan

Faculty Scholarship

This chapter maps out facets of Amazon’s power. In particular, it traces the sources of Amazon’s growth and analyzes the potential effects of its dominance. Doing so enables us to make sense of the company’s business strategy and illuminates anticompetitive aspects of its structure and conduct. This analysis reveals that the current framework in antitrust — specifically its equating competition with “consumer welfare,” typically measured through short- term effects on price and output — fails to capture the architecture of market power in the 21st- century marketplace. In other words, the potential harms to competition posed by Amazon’s dominance are …

Naked Open Market Manipulation And Its Effects, Merritt B. Fox, Lawrence R. Glosten, Gabriel Rauterberg

Faculty Scholarship

More than 80 years after US federal law first addressed stock market manipulation, there is still dispute about manipulation law’s foundational principles; this chapter aims to provide clarity by offering an analytical framework for understanding a specific manipulation. There has been a sharp split among the federal circuits concerning manipulation law’s central question: Can trading activity alone ever be considered illegal manipulation? Economists and legal scholars do not agree on whether manipulation is possible in principle, let alone on how to address it properly in practice. The framework offered by this chapter aims to help clarify federal law and may …