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Full-Text Articles in Law
Innovation Funding And The Valley Of Death, Lital Helman
Innovation Funding And The Valley Of Death, Lital Helman
SMU Law Review
Innovation is a public good. As with other public goods, it is expected to be underproduced if only private incentives are present. Therefore, the law strives to encourage innovation via an array of stimulus mechanisms. The law offers three main mechanisms: intellectual property (IP), cash transfers—mainly prizes and grants—and tax incentives. Vast literature analyzes and compares these innovation stimuli in search of the optimal mix to boost innovation. Yet a key problem is largely overlooked: together, the existing stimuli do not cover the lion’s share of the innovation lifecycle. At the beginning of the innovation process, companies can win grants …
The Carried Interest Standoff: Reaffirming Executive Agency Authority, Dean Galaro, Gregory S. Crespi
The Carried Interest Standoff: Reaffirming Executive Agency Authority, Dean Galaro, Gregory S. Crespi
SMU Law Review
This Article argues that, if reform is necessary, carried interest taxation should be amended by agency rulemaking and not by Congress. Much has already been said about carried interest, but this Article attempts to look through a new lens—legislative history. Carried interest presents a complicated question about the application of foundational partnership tax principles. It is an issue that has received popular attention only within the last decade. Since then, the face of reform has been efforts in Congress to pass an overly complex bill—Section 710. By looking back through the legislative history of carried interest, we begin to see …