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Northwestern Journal of International Law & Business

2001

Articles 1 - 18 of 18

Full-Text Articles in Law

Internet Jurisdiction Today, Adria Allen Jan 2001

Internet Jurisdiction Today, Adria Allen

Northwestern Journal of International Law & Business

This paper will use the Yahoo case to illustrate the unique jurisdictional dilemma posed by the Internet as countries try to enforce their laws in an era when laws may be broken, through the use of the Internet, from other countries with conflicting laws.' Part I of this paper will address the Yahoo case and its importance to Internet jurisdiction. Part II will explore traditional jurisdiction and apply it to the Yahoo case. Part III will identify twopotential theories of Internet jurisdiction and investigate whether they are feasible solutions to the problem posed by the Yahoo case. Part IV will …

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Merits Of Ratifying And Implementing The Cartagena Protocol On Biosafety, Jonathan A. Glass Jan 2001

Merits Of Ratifying And Implementing The Cartagena Protocol On Biosafety, Jonathan A. Glass

Northwestern Journal of International Law & Business

In a meeting in Cartagena, Colombia in February 1999, parties to the CBD, known as the Conference of the Parties ("COP"), could not agree on the proposed biosafety protocol drafted in prior meetings.3 However, in January 2000, in a meeting in Montreal, the parties to the CBD finally adopted the draft protocol, naming it the Cartagena Protocol on Biosafety ("Cartagena Protocol or Protocol"). 4 When the Cartagena Protocol opened for signature at the CBD's COP meeting in Nairobi in May 2000, sixty-four governments and the European Union signed the Protocol . Presently, eighty-one parties have signed the Protocol, while only …

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Consequences Of E.U. Airline Deregulation In The Context Of The Global Aviation Market, Moritz Ferdinand Scharpenseel Jan 2001

Consequences Of E.U. Airline Deregulation In The Context Of The Global Aviation Market, Moritz Ferdinand Scharpenseel

Northwestern Journal of International Law & Business

The objective of this article is to show the background of the airline liberalization process in the E.U. and to evaluate its economic effects in context of the global aviation market. To understand the pressures for change and the forms that the changes are taking, it is first necessary to ap-preciate why market regulation was thought important and how the U.S. de-regulated its airline industry. Therefore, Section II of this paper will analyze the different market structures in the U.S. and the E.U. In Section III, the discussion will continue with a consideration of the effects of U.S. airline deregulation. …

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Multinational Regulatory Competition And Single-Stock Futures , Frank Partnoy Jan 2001

Multinational Regulatory Competition And Single-Stock Futures , Frank Partnoy

Northwestern Journal of International Law & Business

Whereas these first two forms of regulatory competition are well documented and covered in the legal literature, the third form - which I call "multinational regulatory competition" - is newer and more difficult to characterize. Accordingly, any claims about future regulatory competition in this form necessarily are speculative. By "multinational regulatory competition," I mean competition occurring when a group of regulators from more than one sovereign forms a partnership as a multinational regulator and then seeks to compete with other groups of regulators, also formed from more than one sovereign. There is some recent empirical evidence that regulatory trends in …

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Demutualization Of Financial Exchanges: Business As Usual, Caroline Bradley Jan 2001

Demutualization Of Financial Exchanges: Business As Usual, Caroline Bradley

Northwestern Journal of International Law & Business

The article begins by outlining some of the history of mutual business forms, and the recent demutualization movement. Then, after examining the idea of exchanges as proprietary businesses, the article examines three new problems caused by demutualization: how shares in an exchange will be traded; how a proprietary exchange can function as a regulator; and the risk that a proprietary exchange will become a take-over target. The article concludes that there is no perfect arrangement for trading in an exchange's shares; that, if proprietary exchanges are allowed to act as regulators, they should be subject to some constraints as to …

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International Governance Through Trade Agreements: Patent Protection For Essential Medicines, Judy Rein Jan 2001

International Governance Through Trade Agreements: Patent Protection For Essential Medicines, Judy Rein

Northwestern Journal of International Law & Business

This paper examines the current conflicts surrounding the implementation of patent protection for pharmaceuticals. Part II outlines the specifics of trade agreements shaping the global intellectual property regime and the consequences for governments seeking to devise an essential drugs policy. Part III analyzes the process of obtaining consensus and compliance with patent protection rules through the negotiation and implementation of trade agreements, and the utilization of dispute settlement mechanisms. This section also examines the aggressive application of unilateral measures to induce adherence to levels of protection beyond those established at the multilateral and regional level. Part IV considers alternative approaches …

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Foreign Investment Companies Limited By Shares: The Latest Chinese Organization For Major International Ventures, Jim Jinpeng Zhang, Jung Y. Lowe Jan 2001

Foreign Investment Companies Limited By Shares: The Latest Chinese Organization For Major International Ventures, Jim Jinpeng Zhang, Jung Y. Lowe

Northwestern Journal of International Law & Business

Foreign Investment Companies Limited By Shares ("FICLBS") is one of the most important recent innovations in the People's Republic of China's ("China") foreign-invested enterprises law. Since January 10, 1995, China has authorized use of the FICLBS and, for the first time, it more closely resembles major corporate organizations used by international foreign investors.! So far over eighteen FICLBS have been approved for operation through 1999, with combined actual foreign investment of USD 1.2 billion.2 FICLBS has the potential to be the ideal organization for major international investment in China after it joins the World Trade Organization. The FICLBS can issue …

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Transnational Bribery: The Big Questions, Steven R. Salbu Jan 2001

Transnational Bribery: The Big Questions, Steven R. Salbu

Northwestern Journal of International Law & Business

During the past few years, I have written extensively on the subject of transnational bribery. My articles have examined several aspects of this serious problem,' including the Foreign Corrupt Practices Act ("FCPA"), 2 re-cent multilateral global conventions to fight bribery,3 and the comparative costs and benefits of legislative versus systemic or institutional forms of change.4 This body of work also has addressed some of the problems that can accompany aggressive legal remedies, such as potential cultural imperialism5 and global discord.6 This examination has been rewarding, and it has spurred a rich exchange with a number of very talented scholars, as …

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Getting From Salbu To The Tipping Point: The Role Of Corporate Action Within A Portfolio Of Anti-Corruption Strategies, Thomas W. Dunfee, David Hess Jan 2001

Getting From Salbu To The Tipping Point: The Role Of Corporate Action Within A Portfolio Of Anti-Corruption Strategies, Thomas W. Dunfee, David Hess

Northwestern Journal of International Law & Business

Salbu's "big questions" identify core issues for scholars on bribery and corruption. Salbu asks: (1) when may it be ethical to pay a bribe, (2) whether the Foreign Corrupt Practices Act's ("FCPA") provisions on "routine government action" permit us to distinguish between appropriate and inappropriate facilitative payments, (3) whether non-governmental organizations ("NGOs") should supplant the role of governments in fighting corruption, and (4) whether corporate principles can have an impact in the fight against corruption. Our focus is primarily on the latter question, but encompasses all of them. Implicit in Salbu's list is the question of whether a single magic …

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Switzerland & The International Trade In Art & Antiquities, Michele Kunitz Jan 2001

Switzerland & The International Trade In Art & Antiquities, Michele Kunitz

Northwestern Journal of International Law & Business

Recently, Switzerland has proposed a law that would significantly tighten its regulation of the antiquities trade. The draft law seeks to comport Swiss law with the broad goals of international conventions on the protection and transfer of cultural property. However, given Switzerland's past reluctance to curtail the illicit trade in antiquities, it remains unclear whether this measure will pass or if passed, whether the law would be adequately enforced. The primary aim of this Comment is to detail the history of international law as it pertains to cultural property and draw attention to the Swiss role in fostering the illicit …

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Barbie Banished From The Small Screen: The Proposed European Ban On Children's Television Advertising, Janice H. Kang Jan 2001

Barbie Banished From The Small Screen: The Proposed European Ban On Children's Television Advertising, Janice H. Kang

Northwestern Journal of International Law & Business

This Comment first presents a brief history of European policy governing children's television advertising in Europe and lists the current regula-tions in the various EU member states, ranging from Britain's deferential guidelines to Sweden's draconian stance. The next two sections examine arguments both for and against the ban. Impassioned consumer advocates decry television advertising to children as preying upon young impressionable minds; indignant industry groups marshal arguments such as the increasing sophistication of children and the freedom of commercial speech. Finally, after forecasting a doubtful future for the proposed absolute ban on children's television across Europe, this Comment concludes that …

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Securities Price Risks And Financial Derivative Markets , Peter H. Huang Jan 2001

Securities Price Risks And Financial Derivative Markets , Peter H. Huang

Northwestern Journal of International Law & Business

The financial and popular media report almost daily on the volatility of securities market prices. Yet, many people continue to buy securities to hedge against or speculate on certain risks. People can also buy or sell derivatives to hedge against or speculate on fluctuations in securities prices. This Article discusses three regulatory policy implications of utilizing derivatives markets to reallocate the bearing of securities price risks. First, if there are too few non-redundant derivative markets, a competitive market equilibrium allocation of securities price risks is typically constrained Pareto inefficient. This financial economic result means that for typical economies, a regulator …

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International Regulatory Responses To Derivative Crises: The Role Of The U.S. Commodity Futures Trading Commission , Brooksley Born Jan 2001

International Regulatory Responses To Derivative Crises: The Role Of The U.S. Commodity Futures Trading Commission , Brooksley Born

Northwestern Journal of International Law & Business

Over the past decade, as derivatives markets - and particularly the over-the-counter ("OTC") market - have become increasingly global in nature, the U.S.. Commodity Futures Trading Commission ("CFTC") - the federal regulatory agency that oversees futures and commodity option trading' - has played an active role in fostering international regulatory cooperation. The technology of the information age, allowing instant communication and electronic trading, has revolutionized financial markets, instituting around-the-clock, around-the-globe trading, globally active market users and market intermediaries, and an increasing pace of market innovation. Market crises now have the potential for widespread financial impact and require international regulatory response. …

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Hedge Funds, Hot Markets And The High Net Worth Investor: A Case For Greater Protection, Helen Parry Jan 2001

Hedge Funds, Hot Markets And The High Net Worth Investor: A Case For Greater Protection, Helen Parry

Northwestern Journal of International Law & Business

shares; that, if proprietary exchanges are allowed to act as regulators, they should be subject to some constraints as to how they perform this function; and that, contrary to the ordinary case where we have reason to believe that markets discipline firms, a vigorous market for control of exchanges could have harmful effects. The concern that underlies these conclusions is a concern that a country's national interest in protecting its domestic capital markets for the benefit of domestic enterprise and investors is likely to be undermined in a world where exchanges act just like any other business. Management, are clearly …

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Infrastructure For Commerce, Michael B. Likosky Jan 2001

Infrastructure For Commerce, Michael B. Likosky

Northwestern Journal of International Law & Business

While the government presents the MSC as the embodiment of the future, structurally it bears remarkable resemblance to the colonial legal orders. The enclave nature of the MSC is reminiscent of the colonial dual legal orders. At the same time, the international legal and economic orders have undergone profound changes. The international legal order is now premised on sovereign absolutism and equality among nation-states. The reigning economic paradigm is high technology rather than manufacturing or the spice trade. Discussion of the continuities and discontinuities between colonial and present day transnational legal orders must thus attend to a number of variables. …

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Transactional, Social, And Legal Aspects Of Oil Exploration And Extraction In Colombia, Juan Carlos Palau Jan 2001

Transactional, Social, And Legal Aspects Of Oil Exploration And Extraction In Colombia, Juan Carlos Palau

Northwestern Journal of International Law & Business

In Colombia, as in many other countries with oil reserves potential, the government has sought to reduce the activity's inherent high degree of un-certainty by shaping the legal and economic environment that foreign com-panies have to operate in, making it more profitable and attractive for them.16 This paper seeks to accurately represent this environment to the pro-spective investor, starting with the structures of the two basic transactions, referred to herein as "modes", through which most commonly, foreign com-panies participate in the oil industry in Colombia, namely, the Standard As-sociation Mode ("S.A.M") and the Risk Sharing Mode ("R.S.M.").17 The contractual agreements …

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New Legislation Permitting Stock Futures: The Long And Winding Road, William J. Brodsky Jan 2001

New Legislation Permitting Stock Futures: The Long And Winding Road, William J. Brodsky

Northwestern Journal of International Law & Business

This article will explain how the stock futures issue arose, how Congress handled it last year, and the application of the legislation to this new product. While I believe that the approach taken in the CFMA will allow stock futures to trade on a level regulatory playing field in many areas with stock options, which are regulated solely as securities, it will not remove all the disparities between these two competing products. That will only occur when Congress acquires the political will to merge the SEC and the CFTC to create a modem regulatory system for the U.S. equity markets.

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The Proposed E.U. Vat On Electronically Transmitted Services: Enforcement And Compliance Issues, Thomas Fawkes Jan 2001

The Proposed E.U. Vat On Electronically Transmitted Services: Enforcement And Compliance Issues, Thomas Fawkes

Northwestern Journal of International Law & Business

This paper will begin by discussing the current VAT system in the E.U. It will also describe in detail the provisions of the proposed VAT amendments as they affect electronic commerce transactions with respect to both B2B and B2C transactions. Next, the practical effects of the VAT amendments in terms of increased VAT revenue for the E.U. and its mem-ber states will be discussed. Following will be a discussion on the past and present failures of the E.U. and its Member States in encouraging and en-forcing compliance under the current VAT Directive, and the implication of such failures on the …

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