Law Commons^™

Myriad Stands Alone, Jacob S. Sherkow, Christopher T. Scott

Articles & Chapters

Myriad took no prisoners on its way to the top of the molecular diagnostics field. That strategy is unlikely to endure.

Myriad Genetics began in 1991 as a small University of Utah startup interested in the then-novel arena of diagnostic genetic testing. After winning a highly publicized race to sequence the BRCA1 and BRCA2 breast cancer genes, the company obtained patents on the gene sequences and methods of using them to determine cancer risk. The patents were broad and interlocking, covering BRCA genomic DNA, cDNA, methods of diagnosis and systems detecting mutations. Myriad also filed for diagnostic 'toolbox' patents, including …

Improving Hedge Fund Governance, Houman B. Shadab

Articles & Chapters

This Article provides the first comprehensive scholarly analysis of the internal governance of hedge funds. Hedge fund governance consists of the funds’ underlying legal regime and the practices they adopt in response to lacking permanent capital and to reduce agency costs. Hedge fund governance is important because better governance can improve investor returns and help managers raise and retain capital. I argue that hedge fund governance is best understood as a type of responsive managerialism. It is a type of managerialism because applicable law and contracting structures give managers uniquely wide-ranging control over the fund and its operations. Hedge fund …

Bitcoin Financial Regulation: Securities, Derivatives, Prediction Markets, And Gambling, Jerry Brito, Houman B. Shadab, Andrea Castillo

Articles & Chapters

The next major wave of Bitcoin regulation will likely be aimed at financial instruments, including securities and derivatives, as well as prediction markets and even gambling. While there are many easily regulated intermediaries when it comes to traditional securities and derivatives, emerging bitcoin denominated instruments rely much less on traditional intermediaries such as banks and securities exchanges. Additionally, the block chain technology that Bitcoin introduced for the first time makes completely decentralized markets and exchanges possible, thus eliminating the need for intermediaries in complex financial transactions. In this Article we survey the type of financial instruments and transactions that will …

Performance-Sensitive Debt: From Asset-Based Loans To Startup Financing, Houman B. Shadab

Articles & Chapters

This Article develops a unique theory of performance-sensitive debt and argues that certain revenue-stage startups may be missing out on an important source of capital from asset-based loans. Debt contracts are performance sensitive to the extent any of the borrower’s obligations adjust in response to the performance of the borrower. The three main types of performance sensitivity I identify are (1) a loan’s interest rate adjusting based on the performance of the borrower; (2) the amount of available credit adjusting based on the value of collateral; and (3) renegotiation following breach of a loan covenant. Conceptualizing performance sensitivity as a …

The Natural Complexity Of Patent Eligibility, Jacob S. Sherkow

Articles & Chapters

It has long been assumed that the doctrine of patent eligibility’s prohibition of patents on “laws of nature,” “natural phenomena,” and “products of nature” rests on legalistic interpretations of those terms. But there is good reason to doubt this assumption. Since the doctrine’s inception, the Supreme Court has yet to provide any framework, formula, or factors explaining these “natural” terms. Rather, the Court has increasingly fixated on a list of scientific tropes, such as gravity, the heat of the Sun, and extracted metals, that it believes are true examples of “natural laws,” “phenomena,” and “products.”

An actual examination of scientific …

All His Sexless Patients: Persons With Mental Disabilities And The Competence To Have Sex, Michael L. Perlin, Alison Lynch

Articles & Chapters

With the growth in the field of mental disability law over the past 50 years, very few topics involving persons with mental illness remain taboo or off limits to scholars and judges who face these issues daily. However, discussions of the question of whether persons with mental disabilities have a right to voluntary sexual interaction often touches a raw nerve in conversations about mental disability law, even with those who are practicing in the field, and the discomfort people feel in examining this topic is exacerbated when discussing individuals who are institutionalized.

Although this often appears to be a difficult …

The Geography Of Marriage, William P. Lapiana

Articles & Chapters

No abstract provided.

Backlash And Marriage Equality, Arthur S. Leonard

Articles & Chapters

No abstract provided.

Dialogues Of Transitional Justice: Keynote Speech, Ruti Teitel

Articles & Chapters

No abstract provided.

Collective Or Individual Benefits?: Measuring The Educational Benefits Of Race-Conscious Admissions Programs, Deborah N. Archer

Articles & Chapters

In Fisher v. University of Texas at Austin, the United States Supreme Court ruled that colleges and universities could continue to consider race or ethnicity as one of several factors in an admissions policy that seeks to achieve broad diversity goals. To the relief of proponents of race-conscious admissions programs, the Fisher Court affirmed that the 'educational benefits' that flow from a diverse student body are a compelling government interest under strict scrutiny analysis. The Court further upheld the determination that Grutter mandates 'deference to the University’s conclusion, based on its experience and expertise, that a diverse student body would …

Shareholder Cultivation And New Governance, Tamara Belinfanti

Articles & Chapters

Several formal proposals have been made to address shareholder short-termism and speculative behavior. These include the imposition of a financial transaction tax, changes to the U.S. capital gains tax rate, and the adoption of an Investor Stewardship Code in the United Kingdom. This Article reverses the focus from top-down solutions and instead, focuses on bottom-up grass root solutions that corporations can employ, and in some cases do already employ to achieve substantially the same effect of rewarding certain types of shareholder behavior while discouraging others — a process I refer to as "Shareholder Cultivation." While many of the techniques and …

Can A Debtor’S Exemption Assets Be Surcharged As A Sanction For Misconduct?, Marshall E. Tracht

Articles & Chapters

CASE AT A GLANCE

In chapter 7 bankruptcy, a debtor keeps certain statutorily defined “exempt” assets, while all other assets are sold to pay creditors. In exchange, most of the debtor’s debts are discharged. In this case, the Court must decide whether a debtor may be sanctioned by the loss of exempt assets as an equitable remedy for trying to fraudulently claim excess exemptions or hide assets, with the forfeited assets awarded to the bankruptcy estate to recover litigation costs arising from the debtor’s misconduct.

'Friend To The Martyr, A Friend To The Woman Of Shame': Thinking About The Law, Shame And Humiliation, Michael L. Perlin, Naomi Weinstein

Articles & Chapters

This paper considers the intersection between law, humiliation and shame, and how the law has the capacity to allow for, to encourage, or (in some cases) to remediate humiliation, or humiliating or shaming behavior. The need for new attention to be paid to this question has increased exponentially as we begin to also take more seriously international human rights mandates, especially – although certainly not exclusively – in the context of the recently-ratified United Nations Convention on the Rights of Persons with Disabilities, a Convention that calls for “respect for inherent dignity,” and characterizes "discrimination against any person on the …

Empathy And Reasoning In Context: Thinking About Anti-Gay Bullying, Kris Franklin

Articles & Chapters

“Empathy” has negative connotations for many legal theorists, who may conceive of it as subjective, lacking in intellectual rigor, and emphasizing sensitivity over reason. Even those legal scholars who have embraced the importance of empathy in legal work have emphasized its affective dimensions: pointing out that empathy is central to human relations and motivations, and is therefore a crucial lawyering skill. This paper builds on social science literature that identifies both cognitive and affective dimensions to empathy, and recasts empathy as in part a central component to higher-order thinking in law. It draws examples from empathetic reasoning in foundational cases …

Converting Benchslaps To Backslaps: Instilling Professional Accountability In New Legal Writers By Teaching And Reinforcing Context, Heidi K. Brown

Articles & Chapters

A search in published and unpublished court decisions for derivations of phrases like "poorly written brief" or "failure to follow court rules" yields an alarming multitude of case opinions in which judges admonish lawyers of all levels of experience for shoddy briefs or for flouting non-negotiable substantive and procedural rules. Legal bloggers have affectionately dubbed these public reprimands "benchslaps."

Section I of this article provides a contextual background that professors and practitioners can share with rookie legal writers, using judicial opinions to demonstrate the eight most-common ways that attorney work product falls short of judges' expectations and, more importantly, how …

Improving Hedge Fund Governance, Houman B. Shadab

Articles & Chapters

This article provides a comprehensive analysis of the internal governance of hedge funds. The primary components of hedge fund governance are investors with a high propensity to exercise their short-term redemption rights; managers with high pay performance sensitivity, because they are being compensated with an annual performance-based fee plus earnings from their own investment in the funds they manage; sophisticated investors who demand quality governance; and short-term creditors and derivatives counterparties who provide close monitoring. Hedge fund governance needs the most improvement in the areas of performance reporting (valuation) and the timing of performance-fee calculations. Further, counterintuitively, in some circumstances …

The Forgotten Promise Of Professionalism, Rebecca Roiphe

Articles & Chapters

No abstract provided.

Revolution Imagined: Cause Advocacy, Consumer Rights, And The Evolving Role Of Ngos In Thailand, Frank W. Munger

Articles & Chapters

This article describes the founding and evolution of a “Thai-style” NGO dedicated to consumer protection. Through a description of the NGO and the career of its founder, the article brings to light features of the evolution of NGO based advocacy in Thailand from the student uprising in 1973 to the present. The legacy of the 1973 October Generation of activists continues to influence development of NGOs but new emphasis on rights has emerged since the era of constitutional reform in the 1990s. Many NGOs now make use of litigation to attempt to achieve social change, but litigation, like other long-standing …

Preliminary Injunctions Post-Mayo And Myriad, Jacob S. Sherkow

Articles & Chapters

The Supreme Court's recent interest in patentable subject matter has had several, unexpected downstream effects on preliminary injunctions in patent disputes.

The Supreme Court has recently expressed increased interest in patent eligibility, or patentable subject matter, the doctrine that limits the types of inventions eligible for patenting. Its two decisions, Mayo Collaborative Services v. Prometheus Laboratories, Inc., in 2012, and Association for Molecular Pathology v. Myriad Genetics, Inc., in 2013, represented the first broad restrictions on patentable subject matter in over thirty years. And later this term, the Court will decide yet another patent eligibility case: Alice Corp. v. CLS …

Exclusion, Punishment, Racism, And Our Schools: A Critical Race Theory Perspective On School Discipline, David Simson

Articles & Chapters

Punitive school discipline procedures have increasingly taken hold in America’s schools. While they are detrimental to the wellbeing and to the academic success of all students, they have proven to disproportionately punish minority students, especially African American youth. Such policies feed into wider social issues that, once more, disproportionately affect minority communities: the school-to-prison pipeline, high school dropout rates, the push-out phenomenon, and the criminalization of schools.

Before such pervasive racial inequality can be addressed effectively, the social and the psychological mechanisms that create racial inequality in the first place must be examined. This Comment offers insights from the field …