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Full-Text Articles in Law

Cybersecurity Oversight Liability, Benjamin P. Edwards Jan 2019

Cybersecurity Oversight Liability, Benjamin P. Edwards

Scholarly Works

A changing cybersecurity environment now poses a significant corporate-governance challenge. Although some cybersecurity data breaches may be inevitable, courts now increasingly consider when a corporation's officers and directors may be held liable on theories that they acted in bad faith and failed to adequately oversee the corporation's affairs. This short essay reviews recent derivative decisions and encourages corporate boards to recognize that in an environment filled with increasing threats, a reasonable response will require devoting real resources and attention to cybersecurity issues.


State, Dep’T Of Bus. V. Dollar Loan Ctr., 134 Nev. Adv. Op. 15 (Mar. 1, 2018) (En Banc), Shady Sirsy Mar 2018

State, Dep’T Of Bus. V. Dollar Loan Ctr., 134 Nev. Adv. Op. 15 (Mar. 1, 2018) (En Banc), Shady Sirsy

Nevada Supreme Court Summaries

The Nevada Supreme Court determined that NRS 604A.480(2)(f) bars a licensee from bringing any type of enforcement action on a refinancing loan made under NRS 604A.480(2) and is not merely a condition precedent to making a refinancing loan under the subsection.


Gardner Ex Rel. V. Eighth Judicial Dist. Court, 133 Nev. Adv. Op. 89 (Nov. 22, 2017), Will Carter Nov 2017

Gardner Ex Rel. V. Eighth Judicial Dist. Court, 133 Nev. Adv. Op. 89 (Nov. 22, 2017), Will Carter

Nevada Supreme Court Summaries

The alter ego doctrine applies to LLCs and corporations, such that creditors may reach manager’s assets. The Court held that an LLC does not protect a manager or member from their own individual acts of negligence. Therefore, the Court directed the district court to vacate because, “the varieties of fraud and injustice that the alter ego doctrine was designed to redress can be equally exploited through limited liability companies.”


Parametric Sound Corp. V. Dist. Ct., 133 Nev. Adv. Op. 59 (Sep. 14, 2017), Lucy Crow Sep 2017

Parametric Sound Corp. V. Dist. Ct., 133 Nev. Adv. Op. 59 (Sep. 14, 2017), Lucy Crow

Nevada Supreme Court Summaries

The Court clarified its holding in Cohen v. Mirage Resorts, Inc. by adopting the Delaware direct harm test to determine whether a shareholder’s claim is direct or derivative. Under the direct harm test, the Court asks (1) who suffered alleged harm, and (2) who would receive benefit from recovery or another remedy? If the shareholder cannot establish a claim without showing injury to the corporation, the shareholder’s claim fails.


In Re Dish Network Derivation Litig., 133 Nev. Adv. Op. 61 (Sept. 14, 2017), Joseph K. Fabbi Sep 2017

In Re Dish Network Derivation Litig., 133 Nev. Adv. Op. 61 (Sept. 14, 2017), Joseph K. Fabbi

Nevada Supreme Court Summaries

The Court determined that the Auerbach test should be applied when a Special Litigation Committee (SLC) files a motion to defer a derivative claim. A derivative claim is dismissible if the SLC was independent and conducted a good faith investigation when it concluded litigation would not be in the company’s best interest.


Gardner V. Henderson Water Park, L.L.C., 133 Nev. Ad. Op. 54 (Aug. 3, 2017), Scott Cardenas Aug 2017

Gardner V. Henderson Water Park, L.L.C., 133 Nev. Ad. Op. 54 (Aug. 3, 2017), Scott Cardenas

Nevada Supreme Court Summaries

Under NRS 86.371 and NRS 86.381, an LLC member is not responsible for the LLC’s liabilities solely because it is a member.


Redefining Roles And Duties Of The Transactional Lawyer: A Narrative Approach, Lori D. Johnson Jan 2017

Redefining Roles And Duties Of The Transactional Lawyer: A Narrative Approach, Lori D. Johnson

Scholarly Works

Today’s transactional lawyers perform myriad tasks for their clients, including structuring, drafting, conceptualizing, negotiating, and executing the complex, risky, and often cutting-edge transactions their clients bring to the table. On the other side of that table, often sits another team of sophisticated transactional lawyers. These opposing counsel are armed for battle over every nuance, every word, every representation, every deliverable, and every obligation their client is poised to undertake or agree to. Therefore, modern transactional lawyers must behave as advocates and explore new modes of persuasion. As a response, scholars have begun to propose that transactional lawyers employ methods ...


Distributed Governance, Carla L. Reyes, Nizan Geslevich Packin, Benjamin P. Edwards Jan 2017

Distributed Governance, Carla L. Reyes, Nizan Geslevich Packin, Benjamin P. Edwards

Scholarly Works

Distributed ledger technology disrupts traditional business organizations by introducing new business entities without the directors and officers of traditional corporate entities. Although these emerging entities offer intriguing possibilities, distributed entities may suffer significant collective action problems and expose investors to catastrophic regulatory and governance risks. Our Article examines key considerations for stakeholders and argues that distributed entities must be carefully structured to function effectively.

This Article breaks new ground by critically examining distributed entities. We argue that a distributed model is most appropriate when distributed ledger technology solves a unique corporate governance problem. We caution against ignoring the lessons painstakingly ...


Poremba V. S. Nev. Paving; And S&C Claims Servs., Inc. 132 Nev. Ad. Op. 24 (April 7, 2016), Baylie Hellman Apr 2016

Poremba V. S. Nev. Paving; And S&C Claims Servs., Inc. 132 Nev. Ad. Op. 24 (April 7, 2016), Baylie Hellman

Nevada Supreme Court Summaries

The Court considers an appeal from a district court order. The Court clarified that medical treatment is not the only expense on which a workers’ compensation claimant is permitted to exhaust his or her settlement funds. Reversed and remanded with instructions.


A Rational Approach To Business Entity Choice, Eric H. Franklin Jan 2016

A Rational Approach To Business Entity Choice, Eric H. Franklin

Scholarly Works

This Article reinvigorates the entity rationalization movement and will ultimately argue that there are only three necessary entity options: corporations, partnerships, and nonprofit organizations. Part I defines the issue of entity proliferation and, along with the Appendix, presents a state-by-state analysis of the types of legal entities available, an endeavor that has not yet been conducted. The Appendix contains a chart that enumerates each legal entity available in each of the fifty states and the District of Columbia. Part II discusses the problems associated with entity proliferation from the perspective of the public, potential business owners, small business attorneys, and ...


Becker V. Becker, 131 Nev. Adv. Op. 85 (Oct. 29, 2015), Paul George Oct 2015

Becker V. Becker, 131 Nev. Adv. Op. 85 (Oct. 29, 2015), Paul George

Nevada Supreme Court Summaries

In response to a certified question by the United States Bankruptcy Court for the District of Nevada, the Court concluded that under NRS 21.090(1)(bb) a debtor can exempt his stock in the corporations described in NRS 78.746(2), but his economic interest in that stock is still subject to the charging order remedy in NRS 78.746(1).


Summary Of In Re: Cay Clubs, 130 Nev., 130 Nev. Adv. Op. 92, Adam Wynott Dec 2014

Summary Of In Re: Cay Clubs, 130 Nev., 130 Nev. Adv. Op. 92, Adam Wynott

Nevada Supreme Court Summaries

The Court concluded that NRS 87.160(1) may impose partnership liability on a joint venture based on the partnership-by-estoppel doctrine and that the statute may apply to any claim that relies on the doctrine’s element of reasonable reliance. The Court clarified the statute’s meaning, stating that a partnership by estoppel requires (1) consent, manifested expressly or impliedly from the liable party’s conduct; (2) credit, not limited to financial credit, given by one party to the other; (3) and reasonable reliance by one party on the other party’s representation of a partnership or joint venture.


Summary Of Las Vegas Sands Corp. V. Eighth Judicial Dist. Court, 130 Nev. Adv. Op. 69, Michael Bowman Aug 2014

Summary Of Las Vegas Sands Corp. V. Eighth Judicial Dist. Court, 130 Nev. Adv. Op. 69, Michael Bowman

Nevada Supreme Court Summaries

The Court determined whether a former CEO is within a “class of persons” allowed to use the corporation’s privileged documents in litigation against the corporation.


Book Review: "Bishop & Zucker On Nevada Corporations And Llcs", Rachel J. Anderson Jan 2013

Book Review: "Bishop & Zucker On Nevada Corporations And Llcs", Rachel J. Anderson

Scholarly Works

In this piece written for The Writ, the official publication of the Washoe County Bar Association, Prof. Rachel Anderson reviews Bishop and Zucker on Nevada Corporations & LLCs.


Summary Of Weddell V. H2o, Inc., 128 Nev. Adv. Op. No. 9, Matthew Vantusko Mar 2012

Summary Of Weddell V. H2o, Inc., 128 Nev. Adv. Op. No. 9, Matthew Vantusko

Nevada Supreme Court Summaries

The Court considered an appeal from an action seeking contract, tort, and declaratory relief.


Summary Of Canarelli V. Dist. Ct., 127 Nev. Adv. Op. 72, Cameron Daw Nov 2011

Summary Of Canarelli V. Dist. Ct., 127 Nev. Adv. Op. 72, Cameron Daw

Nevada Supreme Court Summaries

A petition for a writ of certiorari or mandamus challenging the district court’s order to force Petitioner to serve as trustee for a dissolved corporation in a construction defect action.


Summary Of Smith V. Kisorin Usa, Inc., 127 Nev. Adv. Op. No. 37, Cayla Witty Jul 2011

Summary Of Smith V. Kisorin Usa, Inc., 127 Nev. Adv. Op. No. 37, Cayla Witty

Nevada Supreme Court Summaries

An appeal of a district court summary judgment challenging whether a corporation’s decision to deliver dissenters’ rights notice to all stockholders that hold stock in street name and not to all beneficial stockholders is sufficient under NRS Chapter 92A.


Summary Of In Re Amerco Derivative Litigation, 127 Nev. Adv. Op. No. 17, Jennifer Delcarmen May 2011

Summary Of In Re Amerco Derivative Litigation, 127 Nev. Adv. Op. No. 17, Jennifer Delcarmen

Nevada Supreme Court Summaries

An appeal from an order to dismiss a shareholder derivative claim.


Summary Of American Ethanol V. Cordillera Fund, 127 Nev. Adv. Op. No. 13, Michael Roche May 2011

Summary Of American Ethanol V. Cordillera Fund, 127 Nev. Adv. Op. No. 13, Michael Roche

Nevada Supreme Court Summaries

The Court reviews an appeal from a district court decision in a corporation action.


Reimagining Human Rights Law: Toward Global Regulation Of Transnational Corporations, Rachel J. Anderson Jan 2010

Reimagining Human Rights Law: Toward Global Regulation Of Transnational Corporations, Rachel J. Anderson

Scholarly Works

This article takes a new look at a perennial question of human rights: how to prevent corporate-related human rights abuses and provide remedies for victims. It argues that transnational corporations require specialized and targeted regulations and laws, and that the conflation of human rights law and international human rights law should be reversed to allow the advancement of other forms of human rights law. It makes two proposals. First, reimagine human rights law and international human rights law as separate categories. Specifically, classify international human rights law as a sub-category of human rights law. This distinction highlights the need to ...


Promoting Distributional Equality For Women: Some Thoughts On Gender And Global Corporate Citizenship In Foreign Direct Investment, Rachel J. Anderson Jan 2010

Promoting Distributional Equality For Women: Some Thoughts On Gender And Global Corporate Citizenship In Foreign Direct Investment, Rachel J. Anderson

Scholarly Works

This essay applies a legal theory of global corporate citizenship to the question of women’s distributional equality in foreign direct investment. It proposes ways that a legal theory of mandatory global corporate citizenship can expand the ways we think about regulating transnational corporations and promoting gender equality.


Summary Of Hartford Fire Ins. Co.; Hartford Accident & Indem. Co.; & Richardson Constr., Inc. V. Tr. Of The Const. Indus. & Laborers Health & Welfare Trust; Tr. Of The Constr. Indus. & Laborers Joint Pension Trust; & Tr. Of The Constr. Indus. & Laborers Vacation Tru, 125 Nev. Adv. Op. No. 16, Elham Roohani May 2009

Summary Of Hartford Fire Ins. Co.; Hartford Accident & Indem. Co.; & Richardson Constr., Inc. V. Tr. Of The Const. Indus. & Laborers Health & Welfare Trust; Tr. Of The Constr. Indus. & Laborers Joint Pension Trust; & Tr. Of The Constr. Indus. & Laborers Vacation Tru, 125 Nev. Adv. Op. No. 16, Elham Roohani

Nevada Supreme Court Summaries

Acceptance of the Ninth Circuit’s two certified questions: whether trustees must provide notice to recover on (1) payment bonds against surety and (2) against the general contractor.


Toward Global Corporate Citizenship: Reframing Foreign Direct Investment Law, Rachel J. Anderson Jan 2009

Toward Global Corporate Citizenship: Reframing Foreign Direct Investment Law, Rachel J. Anderson

Scholarly Works

This article argues that modern foreign direct investment law is a vestige of the colonial era during which early forms of transnational corporations emerged. Unlike international trade law and despite the dramatic developments of the twentieth century, foreign direct investment law remains largely unchanged. Due to a lack of political will, prior multilateral efforts to implement comprehensive foreign direct investment law reforms have been largely unsuccessful. However, in recent years, growing political will has emerged under the umbrella of Global Corporate Citizenship and related movements. This article posits that Global Corporate Citizenship is an opportunity to reframe and reform foreign ...


The Real Reason Why Businesses Make Bad Decisions, Nancy B. Rapoport Jan 2009

The Real Reason Why Businesses Make Bad Decisions, Nancy B. Rapoport

Scholarly Works

This book review examines Professor Jonathan Macey's latest book on corporate governance, and it uses Professor Macey's analysis to explain the latest rash of corporate scandals.


The Corporate Lawyer's Role In A Contemporary Democracy, Colin Marks, Nancy B. Rapoport Jan 2009

The Corporate Lawyer's Role In A Contemporary Democracy, Colin Marks, Nancy B. Rapoport

Scholarly Works

This paper reviews the traditional arguments for corporate social responsibility and asks the question of what corporate lawyers should do to help their clients do the right thing ethically. It also sets out a test - the technically test -- that highlights when something is usually on the wrong side of the ethical line. (If you have to give legal advice starting with "Well, technically...," you're on the wrong side of the line.)


Summary Of Nevada Classified Sch. Emp. Ass’N V. Quaglia, 124 Nev. Adv. Op. No. 6, Emily Reed Feb 2008

Summary Of Nevada Classified Sch. Emp. Ass’N V. Quaglia, 124 Nev. Adv. Op. No. 6, Emily Reed

Nevada Supreme Court Summaries

Appellant is Nevada Classified School Employees Association (NCSEA). NCSEA is a non profit corporation with multiple chapters whose members are Nevada public school district employees. NCSEA is governed by its articles of incorporation and bylaws. The articles of incorporation require each member have equal voting power. “[T]he bylaws state that ‘each Chapter shall be entitled to one (1) Delegate for every fifty (50) members or part thereof, with a maximum of seven (7) Delegates.’”2 In 2003, at the annual delegate conference, the NCSEA passed an amendment to article III, section 3 of the bylaws. Prior to the amendment ...


Summary Of Nanopierce Tech. V. Depository Trust, 123 Nev. Adv. Op. No. 38, Jamie Zimmerman Sep 2007

Summary Of Nanopierce Tech. V. Depository Trust, 123 Nev. Adv. Op. No. 38, Jamie Zimmerman

Nevada Supreme Court Summaries

Appeal from a district court order dismissing a securities fraud action.


Of Metaphor, Metonymy, And Corporate Money: Rhetorical Choices In Supreme Court Decisions On Campaign Finance Regulation, Linda L. Berger Jan 2007

Of Metaphor, Metonymy, And Corporate Money: Rhetorical Choices In Supreme Court Decisions On Campaign Finance Regulation, Linda L. Berger

Scholarly Works

This Article examines the metaphorical and metonymical framing of corporate money in Supreme Court decisions about campaign finance regulation. Metaphorical influences (corporation as a person, spending money as speech, marketplace of ideas as the model for First Amendment analysis) affected early decisions about the regulation of corporate spending in election campaigns. Later, a metonymical move to isolate corporate money and then to focus on its malevolent tendencies displaced the earlier view of corporate money as speech. This movement was best depicted in McConnell v. Federal Election Commission, 540 U.S. 93 (2003), the Supreme Court's 2003 decision on the ...


What Is The Sound Of A Corporation Speaking? How The Cognitive Theory Of Metaphor Can Help Lawyers Shape The Law, Linda L. Berger Jan 2004

What Is The Sound Of A Corporation Speaking? How The Cognitive Theory Of Metaphor Can Help Lawyers Shape The Law, Linda L. Berger

Scholarly Works

This article argues that better understanding of metaphor's cognitive role can help lawyers shape judicial decision-making. As a way of exploring metaphor's contribution to shaping the law, the article focuses on how a particular lawsuit was influenced by metaphor, in particular, by the primary metaphor that a corporation is a person within the more complex metaphorical system suggested by the marketplace of ideas model for First Amendment protection. After describing the cognitive theory of metaphor and examining the metaphors underlying First Amendment protection for corporate speech, the article analyzes the use of metaphor in the briefs filed in ...


Summary Of Redl V. Secretary Of State, 120 Nev. Adv. Rep. 13, Mike Feliciano Jan 2004

Summary Of Redl V. Secretary Of State, 120 Nev. Adv. Rep. 13, Mike Feliciano

Nevada Supreme Court Summaries

Petition denied. Under NRS 78.730, the Secretary of State has discretion to revive a corporate charter that has been revoked for a period of five or more years.