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Full-Text Articles in Law
Why Working But Poor? The Need For Inclusive Capitalism, Robert Ashford
Why Working But Poor? The Need For Inclusive Capitalism, Robert Ashford
Akron Law Review
This Article addresses two questions: (1) What other solutions beyond those already tried can and should be employed to reduce poverty? and (2) What can legal scholars, lawyers, law schools, legal clinics, and law students do to reduce poverty? The answer to the first question is to establish an “inclusive capitalism” by democratizing “capital acquisition with the earnings of capital” based on the principles of binary economics. This democratization requires extending to poor and middleclass people competitive access to the same governmentsupported institutions of corporate finance, banking, insurance, reinsurance, and favorable tax and monetary policies that are presently available primarily …
Economic Ideology And The Rise Of The Firm As A Criminal Enterprise, William K. Black, June Carbone
Economic Ideology And The Rise Of The Firm As A Criminal Enterprise, William K. Black, June Carbone
Akron Law Review
Over the last 50 years, the institutions, ideology, nature, and power of firms in the United States have been radically transformed. Neoclassical economics has led that transformation, supplying an ideology that justified a dramatic increase in top executive compensation while dismantling the mechanisms that produced personal accountability tied to anything but relatively short term shifts in share prices. Yet, alongside the rise of the corporation, from the time of Adam Smith forward, has been concern that the separation of ownership and control creates opportunities to use the corporation as a “weapon” of fraud, and with the return of global financial …
The Business Purpose Doctrine In Corporate Divisions, Stephen Rigsby
The Business Purpose Doctrine In Corporate Divisions, Stephen Rigsby
Akron Law Review
The corporate division, however, lends itself to schemes for avoidance of tax. These schemes are attempts to convert ordinary income into income taxable at capital gains rates. An elaborate statutory mechanism has been created to prevent this conversion. In addition, the courts have created judicial doctrines which sometimes work by adding to the statutory framework and sometimes overlap. The resulting confusion of statute and judicial doctrine is the subject of this article. The investigation will focus on that part of the statute known as the device clause and its interaction with the judicial doctrines which together are known as the …
Savings And Loan Service Corporations: Regulations In Ohio, Ronald E. Alexander
Savings And Loan Service Corporations: Regulations In Ohio, Ronald E. Alexander
Akron Law Review
The purpose of this article is to examine Ohio's scheme for regulating service corporations. This examination includes the history of service corporation regulation in Ohio, the scope of permissible business activities of these corporations, investment limitations for parent savings associations and the supervisory authority of the Ohio Division of Building and Loan Associations [Division]. Perhaps this article will also provide a useful vehicle for judging whether the risks perceived by the GAO and FHLBB can arise from a single state's regulatory scheme for service corporations. It must be remembered that any such risks inherent in Ohio's scheme threaten not only …
Shareholder Liability In Ohio: Confounding Attorneys And Others, South High Development Limited V. Weiner, Lippe & Cromley Co., L.P.A., Timothy J. O'Hearn
Shareholder Liability In Ohio: Confounding Attorneys And Others, South High Development Limited V. Weiner, Lippe & Cromley Co., L.P.A., Timothy J. O'Hearn
Akron Law Review
The purpose of this article is to explore the soundness and ramifications of South High Development Limited v. Weiner, Lippe & Cromley Co., L.P.A. To begin, the case holding will be summarized and the history of professional corporations reviewed. Special emphasis will be placed on Ohio legal professional corporations. A critique of the court's rationale and analysis of its implications will then follow.
Kayser-Roth, Joslyn, And The Problem Of Parent Corporation Liability Under Cercla, James A. King
Kayser-Roth, Joslyn, And The Problem Of Parent Corporation Liability Under Cercla, James A. King
Akron Law Review
This article examines these issues by focusing on the responsibility of parent corporations as "owners" and as "operators" under section 107 of CERCLA. The scope of the analysis is limited to corporations that participate in the management of other corporations. Moreover, for the sake of simplicity, the reach of the analysis is limited to the situation in which a corporation owns one hundred percent of the stock of the subsidiary.
Part I provides a general overview of the principle of limited shareholder liability as it applies to parent corporations and of its economic underpinnings. Part II reviews judicial applications of …
Beyond Crosby V. Beam: Ohio Courts Extend Protection Of Minority Stockholders Of Close Corporations, Kathleen L. Kuhlman
Beyond Crosby V. Beam: Ohio Courts Extend Protection Of Minority Stockholders Of Close Corporations, Kathleen L. Kuhlman
Akron Law Review
This Comment explores the possible ramifications of viewing working minority shareholders as term employees on both close corporation law and at-will-employment law in Ohio. Part I discusses the background and emergence of the heightened fiduciary duty owed by the majority stockholders to the minority stockholders in closely held corporations and the resultant protection of the minority. Part II discusses the current standing of the employment at-will doctrine and what protections exist for at-will employees in Ohio. Part III examines recent Ohio case law that compares close corporation employment with at-will-employment and analyzes the courts' reasoning behind creating a new exception …
Looking Back And Looking Forward: Sarbanes-Oxley And The Future Of Corporate Governance, Scott Harshbarger, Goutam U. Jois
Looking Back And Looking Forward: Sarbanes-Oxley And The Future Of Corporate Governance, Scott Harshbarger, Goutam U. Jois
Akron Law Review
In this Article, we argue that all groups: business leaders, regulators and shareholders, should recognize the steps that must be taken to create a competitive, fair and ethical corporate climate. We are not calling merely for “voluntary cooperation” from businesses to improve the current situation. Indeed, SOX exists and is appropriate for this situation precisely because it imposes baseline obligations with which corporations are required to comply. Moreover, other regulations regarding independent directors, expensing of stock options, etc. are needed and are vital to keeping business interests in line with society’s. However, business leaders and regulators will have an easier …
The Myth Of The Unbiased Director, Regina F. Burch
The Myth Of The Unbiased Director, Regina F. Burch
Akron Law Review
This Article seeks to use social science research to better understand why these and other corporate governance problems persist. One reason may be that boards are biased as to how they respond to these issues. Social science research on risk perception informs us that individuals’ “preferences among different types of risk taking (or avoiding), correspond to cultural biases—that is, to worldviews or ideologies entailing deeply held values and beliefs defending different patterns of social relations.” Cultural theorists have identified four competing worldviews: communitarian, individualistic, hierarchical, and egalitarian. The communitarian and individualistic worldviews are at opposite ends of a spectrum measuring …
Corporate Social Responsibility And The New Governance: In Search Of Epstein's Good Company In The Employment Context, Michael B. Runnels, Elizabeth J. Kennedy, Rev. Timothy B. Brown S.J.
Corporate Social Responsibility And The New Governance: In Search Of Epstein's Good Company In The Employment Context, Michael B. Runnels, Elizabeth J. Kennedy, Rev. Timothy B. Brown S.J.
Akron Law Review
The purpose of this Article is to apply Epstein’s Good Company framework to corporate behavior that falls under three distinct employment law issues31 that continually challenge TNCs as they conduct business. Part I summarizes Epstein’s Good Company framework and his insights about the Good Company. Part II integrates Epstein’s Good Company framework with TNCs’ ability to curb the use of abusive forms of child labor (enact responsible child labor policies), foster open, democratic, and collaborative workplaces (improved employer-employee bargaining), and to create an ethic of care for employees (ethic of care). Part III briefly analyzes our findings, suggests modifications to …
Demystifying The Determination Of Foreign Law In U.S. Courts: Opening The Door To A Greater Global Understanding, Matthew J. Wilson
Demystifying The Determination Of Foreign Law In U.S. Courts: Opening The Door To A Greater Global Understanding, Matthew J. Wilson
Akron Law Faculty Publications
With globalization and the proliferation of international commercial interaction, U.S. courts commonly encounter issues governed by the laws of other sovereigns. These encounters arise by virtue of private agreements or choice-of-law rules covering contractual relationships, cross-border conduct, tortuous acts, employment matters, intellectual property rights, and various other legal foundations. Because the substantive law applied in an international lawsuit can be outcome-determinative, it is important to accurately ascertain and determine the relevant law. In fact, the proper functioning of private international law in a domestic system is based on the appropriate application of law.
U.S. federal and state courts are presumed …