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Full-Text Articles in Law
Cooper V. Commissioner: Give The Inventor A (Learned) Hand, Rebecca R. Dulik
Cooper V. Commissioner: Give The Inventor A (Learned) Hand, Rebecca R. Dulik
Maine Law Review
Among the Internal Revenue Code’s many rules are some taxpayer-friendly provisions that grant tax benefits. Section 1235 is one such provision, providing to an inventor preferential tax treatment for income from the sale or exchange of a patent. In Cooper v. Commissioner, although the taxpayer inventor satisfied § 1235’s requirements, the Ninth Circuit affirmed the Tax Court’s decision to deny the taxpayer § 1235’s benefits. This Note compares Cooper to other § 1235 cases and argues that Cooper was decided wrongly because of the application of the substance over form doctrine. The substance over form doctrine is overapplied in general …
Attacking Innovation, Jeffrey A. Maine
Attacking Innovation, Jeffrey A. Maine
Faculty Publications
Economists generally agree that innovation is important to economic growth and that government support for innovation is necessary. Historically, the U.S. government has supported innovation in a variety of ways: (1) a strong legal system for patents; (2) direct support through research performed by government agencies, grants, loans, and loan guarantees; and (3) indirect support through various tax incentives for private firms. In recent years, however, we have seen a weakening of the U.S. patent system, a decline in direct funding of research, and a weakening of tax policy tools used to encourage new innovation. These disruptive changes threaten the …
Community Development Finance And Economic Justice, Peter R. Pitegoff
Community Development Finance And Economic Justice, Peter R. Pitegoff
Faculty Publications
This chapter reflects on the history of community economic development, community development financial institutions, and their relationship with law and legal scholarship. It describes the robust use of complex legal and financial tools in community development practice today and presents Maine-based Coastal Enterprises Inc. (CEI) as a window into the evolution of the field over the last four decades. Part II traces the wider history and context of community development finance and of the dramatic expansion in tax credit financing. Part III explores the implications of this trend for sustainability and local accountability, underscoring the distinction between community organizing and …