Open Access. Powered by Scholars. Published by Universities.®

Law Commons

Open Access. Powered by Scholars. Published by Universities.®

Articles 1 - 30 of 57

Full-Text Articles in Law

Criminal Trade Secret Theft Cases Against Judgment Proof Defendants In Texas And California, Michelle Evans, Kurt M. Saunders Apr 2019

Criminal Trade Secret Theft Cases Against Judgment Proof Defendants In Texas And California, Michelle Evans, Kurt M. Saunders

William & Mary Business Law Review

Trade secret theft is a costly and ongoing risk to many businesses. As the two most populous states, California and Texas are home to numerous businesses that own trade secrets. Although civil remedies afford one source of relief when a trade secret has been stolen or disclosed, collecting on a judgment may be impossible due to the Homestead laws in both states, which effectively render the defendants judgment proof. In such cases, another alternative is to consider a criminal prosecution under the Federal Economic Espionage Act or state law. The same misconduct that results in civil liability can also violate ...


Loyalty Loses Ground To Market Freedom In The U.S. Supreme Court, Daniel Harris Apr 2019

Loyalty Loses Ground To Market Freedom In The U.S. Supreme Court, Daniel Harris

William & Mary Business Law Review

In the last decade, the U.S. Supreme Court has taken a much less moralistic and much more market-oriented approach to questions of fiduciary loyalty. In cases involving fiduciaries with conflicts of interest, the Court has shifted the burden of proof to the party claiming unfair treatment, thereby protecting deals and making loyalty harder to enforce. The Court has also struck down or narrowly construed laws designed to prevent disloyalty by fiduciaries on the theory that broad prohibitions on business conduct encroach on constitutionally protected freedoms.

This Article discusses how the Supreme Court’s new approach represents a departure from ...


Government Ownership Of Banks: A Curse Or A Blessing For The United States?, Yueh-Ping (Alex) Yang Apr 2019

Government Ownership Of Banks: A Curse Or A Blessing For The United States?, Yueh-Ping (Alex) Yang

William & Mary Business Law Review

During the Financial Crisis of 2007–2008, the Treasury injected an enormous amount of capital and held equity in 707 financial institutions to stabilize the U.S. financial system. The government’s large-scale ownership of banks alarmed the U.S. banking sector. The mainstream opinion in the United States strongly opposed this practice, mostly due to the distrust of the government and the fear that government intervention would jeopardize private shareholders’ interests. Later developments, including the Treasury’s quick exit from its holdings and the Dodd-Frank Act’s declaration of the end of bailouts, suggest that the U.S. government ...


Snapshot Of Trade Secret Developments, Elizabeth A. Rowe Feb 2019

Snapshot Of Trade Secret Developments, Elizabeth A. Rowe

William & Mary Law Review Online

As we enter the second year of the DTSA, this Article presents a snapshot of developments to assess whether there appears to be any significant doctrinal changes afoot in trade secret litigation— including civil and/or criminal—during the past year. Professors David Levine and Christopher Seaman provided some empirical data and quantitative analysis of the case filings during the first year of litigation under the DTSA (from May 2016 to May 2017). This Article complements their excellent work by taking a qualitative look at some of the substantive rulings from the following year. My assessment based on this limited ...


The Value Of Insider Control, Benjamin Means Feb 2019

The Value Of Insider Control, Benjamin Means

William & Mary Law Review

According to conventional wisdom, insider control of businesses is detrimental to the interests of noncontrolling investors. Family-run businesses, in particular, are seen as nepotistic and inefficient. Yet, commentators have overestimated the dangers of insider control and overlooked its potential benefits for all stakeholders. Controlling owners have a personal stake that gives them reason to identify with their business and to adopt responsible business practices capable of creating lasting value. A stewardship model of insider control helps explain the continuing vitality of family businesses as well as the success of recent public offerings by Facebook, Google, and Snapchat involving low-vote or ...


Waste Size: The Skinny On The Environmental Costs Of The Fashion Industry, Elisha Teibel Jan 2019

Waste Size: The Skinny On The Environmental Costs Of The Fashion Industry, Elisha Teibel

William & Mary Environmental Law and Policy Review

The fashion industry is a web of complex global markets currently valued at $3 trillion that employs somewhere around sixty million people worldwide and is estimated to be one of the most labor-intensive industries on the planet. Over the past couple of decades, the industry has evolved into a highly fragmented sector with complicated supply chains and completely unstandardized production practices, which vary by factory and by country. The most significant facet of the fashion trade is the clothing and textile industry. The current total value of the clothing and textiles trade is estimated at $726 billion and a staggering ...


From A Culture Of Food Waste To A Culture Of Food Security: A Comparison Of Food Waste Law And Policy In France And In The United States, Lindsay Bunting Eubanks Jan 2019

From A Culture Of Food Waste To A Culture Of Food Security: A Comparison Of Food Waste Law And Policy In France And In The United States, Lindsay Bunting Eubanks

William & Mary Environmental Law and Policy Review

Fighting food waste fights hunger. It also cleans the planet. Currently, one third of all the food produced in the world—1.3 billion tons of edible food—goes to waste every year. Each ton of food wasted produces 3.8 tons of the world’s greenhouse gas emissions. In America, wasted food produces over 20% of methane gas emissions annually. Recovering all this wasted food could feed the food insecure, could clean the environment, and could even create new market opportunities within the food industry. If food industry businesses find ways to resell or recover the cost of what ...


The Fatal Failure Of The Regulatory State, W. Kip Viscusi Nov 2018

The Fatal Failure Of The Regulatory State, W. Kip Viscusi

William & Mary Law Review

Although regulatory agencies place high values on the benefits associated with the reduction in mortality risks due to regulations, these same agencies substantially undervalue lives in their enforcement efforts. The disparity between the valuation of prospective risks and fatalities that have occurred is often by several orders of magnitude, diminishing whatever safety incentives the regulations might have generated. A review of the practices by the major federal agencies with responsibility for product safety and occupational safety finds that the value placed on fatalities in agencies’ regulatory analyses can be a factor of 1000 times greater than the magnitude of the ...


Environmental Governance And The Global South, Jeffrey J. Minneti Oct 2018

Environmental Governance And The Global South, Jeffrey J. Minneti

William & Mary Environmental Law and Policy Review

Over the last several decades, efforts to regulate the environment through traditional public law at national and international levels have stalled. In contrast, private environmental governance has flourished as nongovernmental entities have engaged in standard setting and assessment practices traditionally left to public government. This Article observes that while private governance of producers’ environmental product claims has grown tremendously in recent years, the vast majority of the governance originates in the global North and thrusts the global North’s economic and environmental agenda into the global South. In light of recent empirical studies of the effectiveness of such governance, the ...


Not So "Clean Diesel"-- How Germany's Protection Of Industry Risks The Health Of Its Citizens, Thomas White Oct 2018

Not So "Clean Diesel"-- How Germany's Protection Of Industry Risks The Health Of Its Citizens, Thomas White

William & Mary Environmental Law and Policy Review

“Clean Diesel.” This was the tagline of a significant advertising campaign that Volkswagen (“VW”) debuted in 2008. These advertisements attempted to counter the notion that diesel engines are dirty and polluted the air. It featured older women in Volkswagens discussing tales of what they knew about diesel engines (a play off the phrase “old wives tales”). At the time of airing, few could have predicted what was to come for VW and their eventual diesel engine scandal, the fallout of which is still ongoing at the time of writing this Note. As this Note will show, the myth of the ...


Section 5: Business Law, Institute Of Bill Of Rights Law At The William & Mary Law School Sep 2018

Section 5: Business Law, Institute Of Bill Of Rights Law At The William & Mary Law School

Supreme Court Preview

No abstract provided.


The Early Eight And The Future Of Consumer Legal Activism To Fight Modern-Day Slavery In Corporate Supply Chains, Andrew G. Barna Mar 2018

The Early Eight And The Future Of Consumer Legal Activism To Fight Modern-Day Slavery In Corporate Supply Chains, Andrew G. Barna

William & Mary Law Review

No abstract provided.


Make Up For Lost Time And Money: Using The Lanham Act To Regulate The Cosmetic Industry, Maria Monastra Feb 2018

Make Up For Lost Time And Money: Using The Lanham Act To Regulate The Cosmetic Industry, Maria Monastra

William & Mary Business Law Review

In recent years, the cosmetic industry has experienced an increase in litigation brought on by consumers in their efforts to protect themselves from cosmetics that are either unsafe or falsely advertised. The Supreme Court of the United States’ discussion in POM Wonderful v. Coca-Cola Co. of the Lanham Act, the United States’ principal false advertising statute, clarified the breadth and depth of allowable lawsuits brought under the statute in matters which also concern the Food, Drug, & Cosmetic Act (FDCA). The case centered on a detailed discussion of the issue of federal preemption. Although the decision directly involved only the food ...


Rethinking Corporate Governance For A Bondholder Financed, Systemically Risky World, Steven L. Schwarcz Mar 2017

Rethinking Corporate Governance For A Bondholder Financed, Systemically Risky World, Steven L. Schwarcz

William & Mary Law Review

This Article makes two arguments that, combined, demonstrate an important synergy: first, including bondholders in corporate governance could help to reduce systemic risk because bondholders are more risk averse than shareholders; second, corporate governance should include bondholders because bonds now dwarf equity as a source of corporate financing and bond prices are increasingly tied to firm performance.


What Exactly Is Market Integrity? An Analysis Of One Of The Core Objectives Of Securities Regulation, Janet Austin Feb 2017

What Exactly Is Market Integrity? An Analysis Of One Of The Core Objectives Of Securities Regulation, Janet Austin

William & Mary Business Law Review

One of the main objectives of securities regulation around the world is to protect the integrity or fairness of the markets. This, together with protecting investors, improving the efficiency of markets, and protecting the markets from systemic risk, form the four fundamental goals of securities regulation.

However, what exactly is envisaged by this concept of market integrity or fairness? Are these simply norms of behaviour incapable of further definition? Despite their importance, relatively little attention has been given to these concepts in the literature. Do they, for example, require securities regulators to just work towards eliminating dishonest trading practices such ...


You Can’T Stop What You Can’T See: Complementary Risk Mitigation Through Compensation Disclosure, Matt Reeder Feb 2017

You Can’T Stop What You Can’T See: Complementary Risk Mitigation Through Compensation Disclosure, Matt Reeder

William & Mary Business Law Review

Section 956 of the Dodd-Frank Act requires regulators to help prevent the next financial crisis by monitoring executive compensation arrangements to prevent them from becoming excessive or leading to “material financial loss.” A now-pending rule seeks to do just this. This Article argues that the rule is well-conceived inasmuch as it limits the total portion of compensation that can be based on risk-inducing incentives, ties incentive-based compensation to longer-term performance, places a ceiling on potential incentivebased earnings, provides for downward adjustment and clawbacks, prohibits many hedging behaviors, and institutionalizes governance mechanisms and oversight policies. But, by placing a number of ...


The Ethics Of Representing Founders, Paul R. Tremblay Feb 2017

The Ethics Of Representing Founders, Paul R. Tremblay

William & Mary Business Law Review

Lawyers assisting entrepreneurial startups frequently work with individual founders before any formal organizational client materializes. In advising founders about such legal matters as whether to establish an entity, and if so, which entity best fits the needs of the enterprise, as well as how to arrange the owners’ relationships within the business, the lawyer necessarily has an attorney-client relationship with someone. The prevailing scholarship about startup representation pays surprisingly little attention to the posture of the lawyer and her founder-clients in the pre-organization context. This Article investigates the lawyer’s responsibilities and commitments in depth.

A lawyer working with a ...


Creative Capitalism And Human Trafficking: A Business Approach To Eliminate Forced Labor And Human Trafficking From Global Supply Chains, Dana Raigrodski Nov 2016

Creative Capitalism And Human Trafficking: A Business Approach To Eliminate Forced Labor And Human Trafficking From Global Supply Chains, Dana Raigrodski

William & Mary Business Law Review

A great amount of revenue generated by businesses in the global economy can be linked to the trafficking and enslavement of human beings. Yet, the current discourse on human trafficking fails to recognize the magnitude of benefit consumers, businesses, and economies gain from the work of forced and trafficked labor. Moreover, the limited efforts that seek to address this situation have focused on ways to encourage businesses to voluntarily adopt more socially responsible practices. These measures have had only limited success, and are generally believed to be in tension with the for-profit purposes of businesses. Hence, the task of convincing ...


Tweet Upon A Star: Organic Brand Engagement With Celebrities On Social Media Platforms, Kristin M. Adams Nov 2016

Tweet Upon A Star: Organic Brand Engagement With Celebrities On Social Media Platforms, Kristin M. Adams

William & Mary Business Law Review

Social media is a rapidly evolving form of digital communication in the modern age. Brands continue to focus increasing resources on garnering consumer attention on social media platforms and are demanding measurable results from agencies or internal social media marketing teams. To both increase and demonstrate the value of a brand’s social media presence, many companies are engaging in behaviors that entail riskier legal strategies. Perhaps the most substantial legal land mine is “real-time content,” in which brands create and post content on vastly accelerated timelines with truncated legal approval processes in order to interact meaningfully with consumers. This ...


Corporate Governance In An Era Of Compliance, Sean J. Griffith May 2016

Corporate Governance In An Era Of Compliance, Sean J. Griffith

William & Mary Law Review

Compliance is the new corporate governance. The compliance function is the means by which firms adapt behavior to legal, regulatory, and social norms. Formerly, this might have been conceived as a typical governance matter to be handled at the discretion of the board of directors. Compliance, however, does not fit traditional models of corporate governance. It does not come from the board of directors, state corporate law, or federal securities law. Compliance amounts instead to an internal governance structure imposed upon the firm from the outside by enforcement agents. This insight has important implications, both practical and theoretical, for corporate ...


Burgers, Doughnuts, And Expatriations: An Analysis Of The Tax Inversion Epidemic And A Solution Presented Through The Lens Of The Burger King-Tim Hortons Merger, Chris Capurso Mar 2016

Burgers, Doughnuts, And Expatriations: An Analysis Of The Tax Inversion Epidemic And A Solution Presented Through The Lens Of The Burger King-Tim Hortons Merger, Chris Capurso

William & Mary Business Law Review

Currently, the concept of tax inversion is a major corporate phenomenon. In the United States, companies pay taxes on all earnings, whether or not they were accumulated here. With one of the highest corporate tax rates in the world, this is a major expense for U.S. corporations competing in the world market. While most companies simply deal with the tax burden, some U.S. corporations buy foreign companies and relocate the company headquarters to the acquisition’s home country. This corporate expatriation allows companies to avoid U.S. taxes on earnings in a number of ways. This Note will ...


Why Now Is The Time To Statutorily Ban Insider Trading Under The Equality Of Access Theory, Bruce W. Klaw Mar 2016

Why Now Is The Time To Statutorily Ban Insider Trading Under The Equality Of Access Theory, Bruce W. Klaw

William & Mary Business Law Review

This Article makes the case for a new U.S. statutory provision that defines and prohibits insider trading under an “equality of access” theory. It supports this claim, and contributes to the important public dialogue concerning this prevalent practice, by highlighting the moral and legal gaps in existing U.S. law that result from understanding the harms of trading on the basis of material nonpublic information solely with reference to fiduciary breach or misappropriation, as evidenced by the recent cases of United States v. Newman and United States v. Salman. It weaves legal analysis together with current literature in business ...


Do Teacher Pay For Performance Schemes Advance American Education? What Education And Business Can Learn From Each Other In The Education Reform Movement, Devin R. Bates Mar 2016

Do Teacher Pay For Performance Schemes Advance American Education? What Education And Business Can Learn From Each Other In The Education Reform Movement, Devin R. Bates

William & Mary Business Law Review

States are quickly moving away from the uniform salary schedule used to compensate teachers and are instead implementing various forms of Pay for Performance. While Pay for Performance compensation schemes have proved effective in some areas of business, they are not uniformly applicable and are ill-suited to education reform. By outlining recent developments in this area of the law and by reviewing the justifications for Pay for Performance schemes, this Note shows what education can learn from business and what business can learn from education. Ultimately, it is in the self-interest of businesses to oppose the implementation of Pay for ...


Let's Make A Deal! Business Succession Planning, John M. Olivieri, Stefan F. Tucker Nov 2015

Let's Make A Deal! Business Succession Planning, John M. Olivieri, Stefan F. Tucker

William & Mary Annual Tax Conference

No abstract provided.


Section 4: Business Law, Institute Of Bill Of Rights Law At The William & Mary Law School Sep 2015

Section 4: Business Law, Institute Of Bill Of Rights Law At The William & Mary Law School

Supreme Court Preview

No abstract provided.


Boosting The Private Space Industry: Extending Nasa’S Duty-Free Import Exemption To Commercial Space Companies, Katherine Gustafson Feb 2015

Boosting The Private Space Industry: Extending Nasa’S Duty-Free Import Exemption To Commercial Space Companies, Katherine Gustafson

William & Mary Business Law Review

The United States has a strong reputation for being at the forefront of space exploration. The commercial space industry in the United States is flourishing, yet the United States government is not effectively using its resources to help the industry. Currently, the United States government has some policies in place that promote the private space sector. Nonetheless, the government favors its own failing agency, NASA, by giving it extra benefits in the form of exemptions from import duties. Extending an exemption from import duties to the commercial space industry, however, would have several beneficial effects on the United States that ...


The Federal Common Law Of Successor Liability And The Foreign Corrupt Practices Act, Taylor J. Phillips Feb 2015

The Federal Common Law Of Successor Liability And The Foreign Corrupt Practices Act, Taylor J. Phillips

William & Mary Business Law Review

In recent years, the Department of Justice (DOJ) and the Securities and Exchange Commission (SEC) have vigorously enforced the Foreign Corrupt Practices Act (FCPA). The FCPA prohibits bribery of foreign government officials, and the statute provides for significant civil and criminal sanctions. Settling and remediating violations can cost corporate defendants millions, with several corporate enforcement actions exceeding $100 million in sanctions. Moreover, enforcement actions related to the FCPA often are not brought until many years after the alleged violations.

Because the massive potential liabilities associated with an FCPA violation may not manifest themselves until years after the violation occurred, prospective ...


A Concept-Sensitive Managerial Analysis With Law: Applying A Business Concept To A Legal Rule To Identify The Domain Of Business Situations, James E. Holloway Feb 2015

A Concept-Sensitive Managerial Analysis With Law: Applying A Business Concept To A Legal Rule To Identify The Domain Of Business Situations, James E. Holloway

William & Mary Business Law Review

The traditional fact-sensitive managerial analysis with law analyzes business situations to identify legal issues and applies legal rules to facts to make judicial decisions. The fact-sensitive managerial analysis takes decades to identify a family of business situations and lacks the analytical capacity to use business knowledge (concepts) and analytical methods to identify business situations. Alternatively, a concept-sensitive managerial analysis with law increases factual sensitivity by applying a business concept to a legal rule to shorten the duration of identifying an extensive family of business situations. All situations are not useful or effective when making business decisions or managing a business ...


Women In The Crowd Of Corporate Directors: Following, Walking Alone, And Meaningfully Contributing, Joan Macleod Heminway Dec 2014

Women In The Crowd Of Corporate Directors: Following, Walking Alone, And Meaningfully Contributing, Joan Macleod Heminway

William & Mary Journal of Race, Gender, and Social Justice

No abstract provided.


Section 4: Business, Institute Of Bill Of Rights Law At The William & Mary Law School Aug 2014

Section 4: Business, Institute Of Bill Of Rights Law At The William & Mary Law School

Supreme Court Preview

No abstract provided.