Law Commons^™

Corporate Policy And The Coherence Of Delaware Takeover Law, Richard E. Kihlstrom, Michael L. Wachter

All Faculty Scholarship

This Article presents a model that can be used to explain key elements of Delaware takeover law. By incorporating corporate policy as a key variable in the model, Delaware law’s management discretion rule can be shown to be best suited for maximizing the value of the corporation and the shareholders’ interest under a set of reasonable assumptions. By allowing for occasional market mispricing and the agency costs associated with managing to the market, we demonstrate that a shareholder choice regime would likely lead to suboptimal investment decisions. In our model, managers are assumed to have better information regarding alternative corporate …

Patently Unconstitutional: The Geographical Limitation On Prior Art In A Small World, Margo A. Bagley

Faculty Articles

Part I of this Article provides an overview of § 102 of the Patent Act, the role of prior art in the patentability analysis, and the origin of the limitation on relevant non-patent, nonpublished art to that existing "in this country." Part II then analyzes the constitutional deficiency of the limitation in light of the express and implied purposes of the Intellectual Property Clause as informed by judicial decisions, technological changes, global contraction, and expanded notions of inventive research sources. Policy concerns are the focus of Part III, which discusses how § 102's geographical limitation facilitates forms of "biopiracy," conflicts …

University Technology Transfer And Economic Development: Proposed Cooperative Economic Development Agreements Under The Bayh Dole Act, Clovia Hamilton

Winthrop Faculty and Staff Publications

Technology transfer enables private industry and academia to make practical use of advanced research, development, and technical expertise. Indeed, universities are a rich source of science and technology that can support local government and business development as well as economic growth. Thus, it is essential for research universities to transfer their wisdom to the public for its use and benefit. Today, universities operate in an economic climate that requires both capital and knowledge; takes advantage of government technology initiatives (namely the Bayh- Dole Act);' and serves as a catalyst for the creation of a large number of new, incubated companies. …

Spousal Privileges In The Federal Law, Robert L. Kardell

Robert L Kardell

No abstract provided.

The Press For Help Project Concept, Program And Working Paper Of Emmanuel Mario B Santos And His Marc Guerrero Communications Inc., Emmanuel Mario B. Santos Aka Marc Guerrero

Emmanuel Mario B Santos aka Marc Guerrero

FORETHOUGHT. DECLARATION OF IDEAOLOGY AND PRINCIPLES. VISION. MISSION. VALUES. GOALS. BASIC HELP project. EDUCATIONAL HELP project. MEDICAL HELP project. LEGAL HELP project. EMERGENCY HELP project. LIVELIHOOD HELP project. SPIRITUAL and CULTURAL HELP project. ENVIRONMENTAL HELP project. REENGINEERING HELP project. INTERNATIONAL HELP project. QUADRO CREDO Matthew 5.1-12, the Jerusalem Bible. The Universal Filipino Beatitudes. SALIN SA FILIPINO. DESIDERATA. AFTERTHOUGHT.

Inside Unlv, Richard Jensen, Donna Mcaleer, Jennifer Vaughan, Cate Weeks, Carol C. Harter, Jeffrey Koep

Inside UNLV

No abstract provided.

New Social Movements And The Struggle For Worker’S Rights In The Maquila Industry, Victoria Carty

Sociology Faculty Articles and Research

"Campaigns to improve worker’s rights in export processing zones (EPZs), also referred to the maquila industry in Latin America, is an important topic analytically and politically. On theoretical and practical levels, the co-existence of market economies with effective means to ensure adequate working conditions for workers is a critical question. Underlying the issue is a vigorous debate regarding how the global economy should be governed; who or what should govern it, and whose interest is should serve (Faux, 2002)."

Santa Clara Magazine, Volume 45 Number 3, Winter 2003, Santa Clara University

Santa Clara Magazine

10 - ACADEMIC EXCELLENCE AT SCU By Paul Locatelli, S.J. ln an adaptation of his convocation address, SCU 's president describes the University's goal to educate "the whole person."

12 - 'BECKHAM' BOOSTS SCU SOCCER By Victoria Hendel De La O. References to SCU in the hit movie have brought international attention to the women's soccer program.

14 - SEEKING SOLUTIONS Experts vi sit campus to discuss the issue of clergy abuse and work on a book about the topic.

18 - UNEARTHING THE PAST By Connie Skipitares. SCU archaeologists, anthropologists, and students probe a site near campus to learn …

Caveat Emptor: Lessons From Volkswagen's Lemon Purchase, Terence Lau

Management and Marketing Faculty Publications

This article traces Volkswagen's mis-steps in the botched acquisition of Rolls Royce, and solutions are offered for counsel engaged in international transactions with the hope that the practitioner with little experience in the area can avoid similarly embarrassing and costly errors. The article also offers recommendations on how to draft contract clauses for international licensing use, and provides a brief overview of export control regimes counsel should be aware of when engaging in international transactions.

Getting Off The Dole: Why The Court Should Abandon Its Spending Doctrine And How A Too-Clever Congress Could Provoke It To Do So, Mitchell N. Berman

All Faculty Scholarship

No abstract provided.

The Qualified Legal Compliance Committee: Using The Attorney Conduct Rules To Restructure The Board Of Directors, Jill E. Fisch, Caroline M. Gentile

All Faculty Scholarship

The Securities and Exchange Commission introduced a new corporate governance structure, the qualified legal compliance committee, as part of the professional standards of conduct for attorneys mandated by the Sarbanes-Oxley Act of 2002. QLCCs are consistent with the Commission’s general approach to improving corporate governance through specialized committees of independent directors. This Article suggests, however, that assessing the benefits and costs of creating QLCCs may be more complex than is initially apparent. Importantly, QLCCs are unlikely to be effective in the absence of incentives for active director monitoring. This Article concludes by considering three ways of increasing these incentives.

Investor Skepticism V. Investor Confidence: Why The New Research Analyst Reforms Will Harm Investors, John L. Orcutt

Law Faculty Scholarship

Part I of this Article provides an overview of research analysts and their basic functions, including a discussion of sell-side analysts' role in the market's recent boom and bust. Part II examines the conflicts of interest that have plagued sell-side research, and Part III reviews the Regulatory Actions that are meant to address these conflicts. In Part IV, the author will make the case for encouraging, rather than lessening, investor skepticism in sell-side research and will explain why the Regulatory Actions are not likely to improve the performance of sell-side analysts. Finally, Part V will offer a simpler proposal to …

Message Deleted? Resolving Physician-Patient E-Mail Through Contract Law, Michael Mccann

Law Faculty Scholarship

This article examines the impact of e-mail on the physician-patient relationship, and how contract law can resolve the uncertainties incumbent in this nascent form of communication. Significantly, courts have yet to indicate when the physician-patient relationship begins by e-mail, or to what extent e-mail affects the duties of the relationship. Instead of waiting for judicial guidance, physicians and patients can employ specialized contracts to clarify the role that e-mail plays in their relationship. As a result, more physicians and patients will regard e-mail correspondence as a valuable means of communication, and a tool for improving the quality of health care …

Brief Of Law Professors As Amicus Curiae In Support Of Respondent, Thomas G. Field Jr, William O. Hennessey, Craig S. Jepson, Karl F. Jorda

Law Faculty Scholarship

Inventors lacking assurance of a market, or even the right to practice patented inventions, face considerable risk. Those who qualify for patents, in return for disclosure, receive only the assistance of the courts in excluding others from economic exploitation of their inventions. Already subject to many legislative and judicial limitations, patents should not be further subject to the functional equivalent of private inverse condemnation without congressional action.

Bargaining For Competitiveness: Law, Research, And Case Studies, Richard N. Block Editor

Upjohn Press

This book offers an analysis of the relationship among collective bargaining, firm competitiveness, and employment protections and creation in the United States. The contributors provide an overview of the legal framework and the economic and industrial relations research on collective bargaining, competitiveness, and employment, then follow with four case studies that provide insights into the process of collective bargaining and its current status in the evolving U.S. labor-management system.

Focusing Failures In Competitive Environments: Explaining Decision Errors In The Monty Hall Game, The Acquiring A Company Problem, And Multiparty Ultimatums, Avishalom Tor, Max Bazerman

Journal Articles

This paper offers a unifying conceptual explanation for failures in competitive decision-making across three seemingly unrelated tasks: the Monty Hall game (Nalebuff, 1987), the Acquiring a Company problem (Samuelson & Bazerman, 1985), and multiparty ultimatums (Messick, Moore, & Bazerman, 1997). We argue that the failures observed in these three tasks have a common root. Specifically, due to a limited focus of attention, competitive decision-makers fail properly to consider all of the information needed to solve the problem correctly. Using protocol analyses, we show that competitive decision-makers tend to focus on their own goals, often to the exclusion of the decisions …

The Changing Nature Of Long-Term Care In Maine, Paul Saucier, Julie Fralich

Maine Policy Review

The increase in the proportion of older adults, many with one or more chronic medical conditions, will increase the demand for long-term care. Paul Saucier and Julie Fralich discuss the socio-demographic factors affecting long-term care policy, and describe various state and federal options for providing and financing long-term care. They note that Maine’s long-term care system has so far been able to absorb considerable growth in people by serving increasing numbers in lower-cost settings. Cost sharing has been introduced, and tax policy has been changed to provide incentives for long-term care insurance. Policymakers must now consider whether the current balance …

Can World Poverty Be Eliminated?, William F. Felice

Human Rights & Human Welfare

A review of:

World Poverty: New Policies to Defeat an Old Enemy edited by Peter Townsend and David Gordon. Bristol: The Policy Press, 2002. 454pp.

and

World Poverty and Human Rights: Cosmopolitan Responsibilities and Reforms by Thomas Pogge. Malden, MA: Blackwell/Polity, 2002. 264pp.

and

There is an Alternative: Subsistence and Worldwide Resistance to Corporate Globalization edited by Veronica Benholdt-Thomsen, Nicholas Faraclas, and Claudia von Werlhof. New York: Zed Books. 2001. 288pp.

Masthead

University of Pennsylvania Journal of Business Law

No abstract provided.

Takeover Defense When Financial Markets Are (Only) Relatively Efficient, Michael L. Wachter

All Faculty Scholarship

This paper evaluates the impact of developments in the understanding of asset value pricing for alternative legal standards for takeover defenses: the management discretion and the shareholder rights positions. Both sides place considerable, albeit implicit, reliance on alternative views of the efficiency of financial markets. Developments in finance theory show that when financial markets are only "relatively efficient," stock prices can incorrectly value the corporation at any point in time, at the same time as investors cannot outperform the market on an ongoing basis. I focus on financial market anomalies arising from the failure of the capital asset pricing model …

Corporate Constitutionalism: Antitakeover Charter Provisions As Pre-Commitment, Marcel Kahan, Edward B. Rock

All Faculty Scholarship

Constitutions constitute a polity and create and entrench power. A corporate constitution - the governance choices incorporated in state law and the certificate of incorporation - resembles a political constitution. Delaware law allows parties to create corporations, to endow them with perpetual life, to assign rights and duties to "citizens" (directors and shareholders), to adopt a great variety of governance structures, and to entrench those choices. In this Article, we argue that the decision to endow directors with significant power over decisions whether and how to sell the company is a constitutional choice of governance structure. We then argue that …

Is There A Role For Lawyers In Preventing Future Enrons?, Jill E. Fisch, Kenneth M. Rosen

All Faculty Scholarship

Following the collapse of the Enron Corporation, the ethical obligations of corporate attorneys have received increased scrutiny. The Sarbanes-Oxley Act of 2002, enacted in response to calls for corporate reform, specifically requires the Securities and Exchange Commission to address the lawyer’s role by requiring covered attorneys to “report up” evidence of corporate wrongdoing to key corporate officers, and, in some circumstances, to the board of directors. Failure to “report up” subjects a lawyer to liability under federal law.

This Article argues that the reporting up requirement reflects a second-best approach to corporate governance reform. Rather than focusing on the actors …

How To Fix Wall Street: A Voucher Financing Proposal For Securities Intermediaries, Stephen Choi, Jill E. Fisch

All Faculty Scholarship

No abstract provided.

A Jurisdictional Approach To Collapsing Corporate Distinctions, Peter B. Oh

Articles

This article challenges our persistent path dependence on defunct distinctions between corporations and certain limited unincorporated associations. Recent federal tax regulations have inspired proposals for consolidated treatment of all limited business organizations through uniformly based or universally applicable statutes. I contend these proposals are preoccupied with how hybrid organizations such as the limited liability company and the limited liability partnership amalgamate, and thus implicitly preserve, traditional dichotomies between corporations and partnership categorizations as well as entities and aggregate theories. The continued use of these schemes compromises the legal basis for such proposals.

By critically examining certain jurisdictional principles, this article …

Case Studies On The Implementation Of The Workforce Investment Act: Focus On Co-Location, Sheila Fesko, Jaimie Ciulla Timmons, Allison Cohen Hall

Case Studies Series, Institute for Community Inclusion

Seamless service delivery means that a customer receiving services can move between two or more agencies with limited disruption. Seamless services have not been accomplished when a customer must take a cross-town bus to travel from one agency to another. To address this issue, many One-Stop career centers are looking into how staff from their partner agencies can physically share space. This can range from a single staff person from an agency working in the Center on specific days of the week (itinerant staffing) to all staff from that agency working there on a full-time basis (full co-location). Staff report …

Case Studies On The Implementation Of The Workforce Investment Act: Focus On Accessibility, Sheila Fesko, Jaimie Ciulla Timmons, Allison Cohen Hall

Case Studies Series, Institute for Community Inclusion

Universal access is a central tenet of the Workforce Investment Act (WIA) and mandates that One-Stop Career Center (One-Stop) services be accessible for individuals with disabilities. Partnerships between Vocational Rehabilitation (VR) and workforce development agencies have increased awareness about the importance of service accessibility and states have been responding to this issue in their planning and service delivery. This brief highlights the innovative strategies states have used to make their One-Stops better able to support job seekers with disabilities. This brief is part of a series of products offering practical solutions for state and local entities as they implement the …

Corporate Control Transactions: Introduction, Edward B. Rock, Michael L. Wachter

All Faculty Scholarship

No abstract provided.

Reconstructing The Software License, Michael J. Madison

Articles

This article analyzes the legitimacy of the software license as a institution of governance for computer programs. The question of the open source license is used as a starting point. Having conducted a broader inquiry into the several possible bases for the legitimacy of software licensing in general, the article argues that none of the grounds on which software licensing in general rests are sound. With respect to open source software in particular, the article concludes that achieving a legitimate institutional form for the goals that open source proponents have set for themselves may require looking beyond licensing as such.

Case Studies On The Implementation Of The Workforce Investment Act: Focus On Involving Customers With Disabilities, Sheila Fesko, Jaimie Ciulla Timmons, Allison Cohen Hall

Case Studies Series, Institute for Community Inclusion

Although it is uniformly accepted that customers with disabilities should be involved in the process to create a new workforce system under the mandates of the Workforce Investment Act (WIA), anecdotal evidence suggests this to be more rhetoric than reality. Currently One-Stop Career Centers, workforce boards, and states are struggling with how to solicit and incorporate this important input into the planning process. The following is offered as a tool to help involve customers with disabilities as One-Stop centers are developed. This brief is part of a series of products offering practical solutions for state and local entities as they …

Containing The Promise Of Insurance: Adverse Selection And Risk Classification, Tom Baker

All Faculty Scholarship

Insurance law, risk pools, adverse selection