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Full-Text Articles in Law
A Crumbling Pyramid: How The Evolving Jurisprudence Defining “Employee” Under The Adea Threatens The Basic Structure Of The Modern Large Law Firm, Jessica Fink
Jessica Fink
Under the Age Discrimination in Employment Act, as well as other federal antidiscrimination laws, only “employees” as defined by the statute are permitted to sue. In recent years, the U.S. Supreme Court and lower courts have provided guidance regarding when partners in large law firms might be deemed “employees” protected by these laws. What has emerged from the courts’ decisions in these cases is a test that places significant emphasis on the amount of power and control that a partner has within a firm: Partners deemed to lack a sufficient amount of power and control within their firms may be …
Too Close For Comfort: Application Of Shareholder’S Derivative Actions To Disputes Involving Closely Held Corporations, Melanie S. Williams, Allan B. Cooper
Too Close For Comfort: Application Of Shareholder’S Derivative Actions To Disputes Involving Closely Held Corporations, Melanie S. Williams, Allan B. Cooper
Melanie S. Williams
Should traditional shareholder’s derivative rules apply to close corporation disputes? The ALI has proposed that closely-held corporations may be treated as partnerships in the context of internal disputes. The rationale for shareholder derivative suit requirements – to protect creditors, to benefit all shareholders proportionate to their ownership interests, to discourage strike suits, and to permit the corporation to manage the suit and its resolution under court supervision – are less powerful in the context of closely held corporations. In fact, adhering to the requirements of shareholder’s derivative actions can increase the cost and complexity of suit, shift the expense of …
Taxing Shared Economies Of Scale, Brad Borden
Taxing Shared Economies Of Scale, Brad Borden
Bradley T. Borden
Economies of scale exist if long-run average costs decline as output rises. All else being equal, the decline in average costs should lead to greater profitability, making economies of scale attractive to businesses. Nobel laureate George Stigler recognized that economies of scale should help determine the optimum size of a firm. To obtain economies of scale and optimum firm size, parties may integrate resources or grant access to resources without integrating. Such arrangements create shared economies of scale. Tax law must consider the effects of shared economies of scale and address them. In particular, the varying degrees of scale-sharing raise …