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Articles 1 - 30 of 31
Full-Text Articles in Business Organizations Law
Unilateral Corporate Regulation, William Magnuson
Unilateral Corporate Regulation, William Magnuson
William J. Magnuson
Corporations today wield unprecedented power in politics and society, and they have a tremendous effect on human welfare around the globe. At the same time, they are increasingly difficult to regulate. Corporations are savvy and mobile, and they can relocate to avoid burdensome domestic regulation with surprising ease. The agility of corporations creates a dilemma for government decisionmakers seeking to balance the need to attract the wealth that corporations create with the desire to pursue other policy priorities. One potential approach that governments have used to address this dilemma is international cooperation, and a growing number of scholars have argued …
The Information Regulation Of Business Actors, Kishanthi Parella
The Information Regulation Of Business Actors, Kishanthi Parella
Kish Parella
A transnational legal order (TLO) is emerging regarding the role of businesses in respecting human rights. This legal order includes multistakeholder initiatives, international organization recommendations and guidelines, NGO certifications, and other voluntary instruments. Many of the norms within this TLO are nonbinding and therefore lack mandatory compliance; what they may possess is persuasive power, particularly when the norms are developed, endorsed, and managed by reputable organizations. It is that reputational, or legitimacy, advantage that matters for encouraging industry associations to comply with the nonbinding norms associated with these organizations. Industry associations and other business actors will gravitate more towards legitimacy …
Access To Justice And Corporate Accountability: A Legal Case Study Of Hudbay In Guatemala, Shin Imai, Bernadette Maheandiran, Valerie Crystal
Access To Justice And Corporate Accountability: A Legal Case Study Of Hudbay In Guatemala, Shin Imai, Bernadette Maheandiran, Valerie Crystal
Shin Imai
This case study looks at the avenues open for addressing serious allegations of murder, rape and assault brought by indigenous Guatemalans against a Canadian mining company, HudBay Minerals. While first-generation legal and development policy reforms have facilitated foreign mining in Guatemala, second-generation reforms have failed to address effectively conflicts arising from the development projects. The judicial mechanisms available in Guatemala are difficult to access and suffer from problems of corruption and intimidation. Relevant corporate social responsibility policies and mechanisms lack the necessary enforcement powers. Canadian courts have been reluctant to permit lawsuits against Canadian parent companies; however, in Choc v. …
Diversity In The Boardroom: A Content Analysis Of Corporate Proxy Disclosures, Aaron A. Dhir
Diversity In The Boardroom: A Content Analysis Of Corporate Proxy Disclosures, Aaron A. Dhir
Aaron A. Dhir
My work in this field has focused on regulation by quota and regulation by disclosure. With regard to quotas, strikingly, the Norwegian law is not located in regulation that explicitly deals with human rights or equality issues; rather, it is found in the heart of the legal regime that gives life and personality to corporations – in Norwegian corporate law. I have conducted qualitative, interview-based research with Norwegian corporate directors, both men and women. It is only through understanding how the goals of the law have translated into the day-to-day existence of these individuals that we can begin to consider …
Trademark Cosmopolitanism, Sonia K. Katyal
Trademark Cosmopolitanism, Sonia K. Katyal
Sonia Katyal
The world of global trademarks can be characterized in terms of three major shifts: first, a shift from national to global branding strategies; second, a shift from national and regional systems to harmonized international regimes governing trademark law; and third, a concurrent shift from local to transnational social movements that challenge branding and other corporate practices. The rise of transnational brands brings with it an attendant series of legal shifts in trademark law. Long considered the stepchild of intellectual property law, today, trademark law has morphed into a powerful global legal phenomenon, revealing a foundational shift from national and regional …
Corporate Law In The Shanghai People's Courts, 1992-2008: Judicial Autonomy In A Contemporary Authoritarian State, Nicholas Howson
Corporate Law In The Shanghai People's Courts, 1992-2008: Judicial Autonomy In A Contemporary Authoritarian State, Nicholas Howson
Nicholas Howson
In late 2005 China adopted a largely rewritten Company Law that radically increased the role of courts. This study, based on a review of more than 1000 Company Law-related disputes reported between 1992 and 2008 and extensive interactions with PRC officials and sitting judges, evaluates how the Shanghai People’s Court system has fared over 15 years in corporate law adjudication. Although the Shanghai People’s Courts show generally increasing technical competence and even intimations of political independence, their path toward institutional autonomy is inconsistent. Through 2006, the Shanghai Court system demonstrated significantly increased autonomy. After 2006 and enactment of the new …
The Macroprudential Turn: From Institutional 'Safety And Soundness' To Systematic 'Financial Stability' In Financial Supervision, Robert C. Hockett
The Macroprudential Turn: From Institutional 'Safety And Soundness' To Systematic 'Financial Stability' In Financial Supervision, Robert C. Hockett
Robert C. Hockett
Since the global financial dramas of 2008-09, authorities on financial regulation have come increasingly to counsel the inclusion of macroprudential policy instruments in the standard ‘toolkit’ of finance-regulatory measures employed by financial supervisors. The hallmark of this perspective is its focus not simply on the safety and soundness of individual financial institutions, as is characteristic of the traditional ‘microprudential’ perspective, but also on certain structural features of financial systems that can imperil such systems as wholes. Systemic ‘financial stability’ thus comes to supplement, though not to supplant, institutional ‘safety and soundness’ as a regulatory desideratum. The move from primarily micro- …
The Neomercantilist Fallacy And The Contextual Reality Of The Foreign Corrupt Practices Act, Philip Nichols
The Neomercantilist Fallacy And The Contextual Reality Of The Foreign Corrupt Practices Act, Philip Nichols
Philip M. Nichols
The Foreign Corrupt Practices Act is domestic legislation and should be analyzed as such. This article addresses a persistent failure in analysis of the Act, by scholars and policymakers alike. Many discussions of the Act approach it from a neomercantilist perspective. This approach contains three flaws. First, whereas neomercantilism envisions manipulation of the market to give advantage to national champion industries, the Foreign Corrupt Practices Act was adopted for the purpose of strengthening and enhancing the integrity of the global market. A neomercantilist perspective is contrary to the purpose of the Act. Second, this article shows that neomercantilism fundamentally misunderstands …
Rethinking Corporate Human Rights Accountability, Pammela Quinn Saunders
Rethinking Corporate Human Rights Accountability, Pammela Quinn Saunders
Pammela Quinn
The standard account of corporate human rights accountability assumes that corporate entities, rather than individual corporate officers or employees, are the optimal targets of regulatory litigation. This assumption has led human rights advocates to despair over recent court decisions that make it increasingly difficult to bring suit against corporations for human rights violations. In light of these decisions (and similar barriers to suits against corporate entities in some other jurisdictions around the world), human rights advocates find themselves at a crossroads. Will litigants focus on new legal theories or on bringing their claims in new fora which offer better chances …
Insource The Shareholding Of Outsourced Employees: A Global Stock Ownership Plan, Robert C. Hockett
Insource The Shareholding Of Outsourced Employees: A Global Stock Ownership Plan, Robert C. Hockett
Robert C. Hockett
With the American economy stalled and another federal election campaign season well underway, the “outsourcing” of American jobs is again on the public agenda. Latest figures indicate not only that claims for joblessness benefits are up, but also that the rate of American job-exportation has more than doubled since the last electoral cycle. This year’s political candidates have been quick to take note. In consequence, more than at any time since the early 1990s, continued American participation in the World Trade Organization, in the North American Free Trade Agreement, and in the processes of global economic integration more generally appear …
The Macroprudential Turn: From Institutional “Safety And Soundness” To “Systemic Stability” In Financial Supervision, Robert C. Hockett
The Macroprudential Turn: From Institutional “Safety And Soundness” To “Systemic Stability” In Financial Supervision, Robert C. Hockett
Robert C. Hockett
This Working Paper is no longer available. The published version of this article is available at: http://scholarship.law.cornell.edu/facpub/1405/ Since the global financial dramas of 2008-09, authorities on financial regulation have come increasingly to counsel the inclusion of macroprudential policy instruments in the standard ‘toolkit’ of finance-regulatory measures employed by financial supervisors. The hallmark of this perspective is its focus not simply on the safety and soundness of individual financial institutions, as is characteristic of the traditional ‘microprudential’ perspective, but also on certain structural features of financial systems that can imperil such systems as wholes. Systemic ‘financial stability’ thus comes to supplement, …
Panelist, The Role Of Government In Corporate Activities And Cross-Border Transactions, Kent Greenfield
Panelist, The Role Of Government In Corporate Activities And Cross-Border Transactions, Kent Greenfield
Kent Greenfield
No abstract provided.
The Emergence Of New Corporate Social Responsibility Regimes In China And India, Shruti Rana, Afra Afsharipour
The Emergence Of New Corporate Social Responsibility Regimes In China And India, Shruti Rana, Afra Afsharipour
Shruti Rana
In an era of financial crises, widening income disparities, and environmental and other calamities linked to corporations, calls for greater corporate social responsibility (“CSR”) are increasing rapidly around the world. Though CSR efforts have generally been viewed as voluntary actions undertaken by corporations, a new CSR model is emerging in China and India. In a marked departure from CSR as it is known in the United States and as it has been developing through global norms, China and India are moving towards mandatory, not voluntary, CSR regimes. They are doing so not only in a time of great global economic …
Corporate Social Responsibility In A Remedy-Seeking Society: A Public Choice Perspective, Donald J. Kochan
Corporate Social Responsibility In A Remedy-Seeking Society: A Public Choice Perspective, Donald J. Kochan
Donald J. Kochan
Written for the Chapman Law Review Symposium on “What Can Law & Economics Teach Us About the Corporate Social Responsibility Debate?,” this Article applies the lessons of public choice theory to examine corporate social responsibility. The Article adopts a broad definition of corporate social responsibility activism to include both (1) those efforts that seek to convince corporations to voluntarily take into account corporate social responsibility in their own decision-making, and (2) the efforts to alter the legal landscape and expand legal obligations of corporations beyond traditional notions of harm and duty so as to force corporations to invest in interests …
Corporate Governance Reform In A Time Of Crisis, Christopher M. Bruner
Corporate Governance Reform In A Time Of Crisis, Christopher M. Bruner
Christopher M. Bruner
In this article I argue that crisis-driven corporate governance reform efforts in the United States and the United Kingdom that aim to empower shareholders are misguided, and offer an explanation of why policymakers in each country have reacted to the financial crisis as they have. I first discuss the risk incentives of shareholders and managers in financial firms, and examine how excessive leverage and risk-taking in pursuit of short-term returns for shareholders led to the crisis. I then describe the far greater power and centrality that U.K. shareholders have historically possessed relative to their U.S. counterparts, and explore historical and …
Good Faith In Revlon-Land, Christopher M. Bruner
Good Faith In Revlon-Land, Christopher M. Bruner
Christopher M. Bruner
The Delaware Supreme Court has set a very high hurdle for plaintiffs challenging directors' good faith in the sale of a company. In Lyondell Chemical Company v. Ryan, the court held that unconflicted directors could be found to have breached the good faith component of their duty of loyalty in the transactional context only if they "knowingly and completely failed to undertake," and "utterly failed to attempt" to discharge their duties. In this essay I argue that the Lyondell standard effectively imports into the transactional context the exacting standard previously applied in the oversight context — a move clearly aimed …
Attorney-General Of Pakistan - A Brief Overview, Umair Ghori
Attorney-General Of Pakistan - A Brief Overview, Umair Ghori
Umair H. Ghori
The legal system of Pakistan represents a fusion of the Shariah law and common law systems. Traditionally, the Pakistani legal system adapted the pre-1947 colonial law for local use. Amendments to these colonial laws, in particular inspired by the Islamic traditions, have been interspersed in intervals. As a result, the Pakistan legal system retains fundamental common law doctrines (such as binding precedent and delegated legislation) while gradually integrating laws of Islamic origin within the existing common law framework. However, Pakistan's legal system is far from being a complete mirror of the English legal system. One such major distinction is that …
Human Rights Compliance And Accountability For U.S. Multinational Enterprises: A Principled Step Forward After Sosa And Kiobel, Paul Regan
Paul L Regan
This article proposes a Congressional statutory solution to resolve when a multinational corporation can be liable under the Alien Tort Statute on a claim for human rights abuses arising from a corporation’s overseas business operations. Under this proposal a U.S. multinational would be directly liable for human rights violations of its overseas subsidiary where it (1) failed to ensure that its overseas subsidiary had in place a reasonably effective and functioning human rights compliance system or (2) acquired knowledge of ongoing human rights violations by its overseas subsidiary and failed to take meaningful corrective measures in a timely way.
Global Textiles And Clothing Trade - Trade Policy Perspectives, Umair Ghori
Global Textiles And Clothing Trade - Trade Policy Perspectives, Umair Ghori
Umair H. Ghori
The author presents substantial case studies of the effect of the abolition of quotas on global trade in this sector. Concentrating mainly on China and Pakistan but also examining India, Indonesia, Vietnam, and seven other Asian T&C manufacturing countries, he contrasts post-abolition reality with pre-abolition predictions of the impact of abolishing quotas, and details the continuing distortion caused by tariffs, non-tariff barriers and through trade remedies such as safeguards and anti-dumping. All of the analysis is supported by the judicious use and interpretation of extensive statistics, compelling arguments, and interviews with entrepreneurs and trade officials in Pakistan (as a case …
The Private Sector’S Pivotal Role In Combating Human Trafficking, Jonathan Todres
The Private Sector’S Pivotal Role In Combating Human Trafficking, Jonathan Todres
Jonathan Todres
Human trafficking is big business, with industry estimates running in the billions of dollars annually. Much of that profit accrues to traffickers, illegal profiteers, and organized crime groups. However, the private sector-including legitimate businesses and industries-also reaps economic benefits, directly and indirectly, from the trafficking and related exploitation of persons. Despite these economic realities, the dominant approach to combating human trafficking has been to rely almost exclusively on governments and social services organizations to do the job. Little has been asked of the private sector. Two important bills-one adopted by the State of California and the otherintroduced in the U.S. …
Corporate Integration, Tax Treaties, And The Division Of The International Tax Base: Principles And Practices., Hugh J. Ault
Corporate Integration, Tax Treaties, And The Division Of The International Tax Base: Principles And Practices., Hugh J. Ault
Hugh J. Ault
In this Article, Professor Ault begins with an examination of the evolution of treaty principles for the allocation of and restrictions on international taxing jurisdiction. He then focuses on how economically based principles dealing with the taxation of international income affect treaty policy and presents the basic structural provisions involving the taxation of foreign income and foreign investors that emerge from domestically enacted or proposed integration systems. The technical aspects of the actual treaty practices that have been implemented with respect to integration systems are then related to the theoretical discussion. Professor Ault concludes with an examination of the implications …
Legitimacy, Accountability, And Partnership: A Model For Advocacy On Third World Environmental Issues, David A. Wirth
Legitimacy, Accountability, And Partnership: A Model For Advocacy On Third World Environmental Issues, David A. Wirth
David A. Wirth
To date, there has been little effort to define the characteristics of responsible environmental reform efforts by private citizens and organizations in the United States on foreign environmental problems, such as the quality of foreign aid. Moreover, there have been virtually no attempts to identify a principled role for American lawyers in Third World environmental issues. This Essay will respond to these lacunae by articulating a new approach to advocacy based on a partnership model. In Part I, this Essay identifies the need for American public interest advocates to establish partnerships with directly affected groups on Third World environmental issues. …
Legal Mechanization Of Corporate Social Responsibility Through Alien Tort Statute Litigation: A Response To Professor Branson With Some Supplemental Thoughts, Donald J. Kochan
Legal Mechanization Of Corporate Social Responsibility Through Alien Tort Statute Litigation: A Response To Professor Branson With Some Supplemental Thoughts, Donald J. Kochan
Donald J. Kochan
This Response argues that as ATS jurisprudence “matures” or becomes more sophisticated, the legitimate limits of the law regress. The further expansion within the corporate defendant pool – attempting to pin liability on parent, great grandparent corporations and up to the top – raises the stakes and complexity of ATS litigation. The corporate social responsibility discussion raises three principal issues about how a moral corporation lives its life: how a corporation chooses its self-interest versus the interests of others, when and how it should help others if control decisions may harm the shareholder owners, and how far the corporation must …
Falling Short: Has The Sec’S Quest To Control Market Manipulation And Abusive Short-Selling Come To An End Or Has It Really Just Begun?, Richard Ramirez
Falling Short: Has The Sec’S Quest To Control Market Manipulation And Abusive Short-Selling Come To An End Or Has It Really Just Begun?, Richard Ramirez
Richard E. Ramirez, J.D. | CFCS
No abstract provided.
Third Party Access And Refusal To Deal In European Energy Networks: How Sector Regulation And Competition Law Meet Each Other, Michael Diathesopoulos
Third Party Access And Refusal To Deal In European Energy Networks: How Sector Regulation And Competition Law Meet Each Other, Michael Diathesopoulos
Michael Diathesopoulos
In this paper, we will analyse the issue of concurrence between competition and sector rules and the relation between parallel concepts within the two different legal frameworks. We will firstly examine Third Party Access in relation to essential facilities doctrine and refusal of access and we will identify the common points and objectives of these concepts and the extent to which they provide a context to each other’s implementation. Second, we will focus on how Commission uses sector regulation and objectives as a context within the process of implementation of competition law in the energy sector and third, we will …
India Recognizes Limited Liability Partnerships – Any Attraction For Us Investors?, Vikas Varma
India Recognizes Limited Liability Partnerships – Any Attraction For Us Investors?, Vikas Varma
Vikas Varma
The Indian form of LLP is broadly comparable to New York Registered Limited Liability Partnerships (“NY LLP”) and to some extent to New York Limited Liability Companies (“NY LLC”).
The Illegal-Settlements Myth, David Phillips
Cyber Crimes And Effectiveness Of Laws In India To Control Them, Mubashshir Sarshar
Cyber Crimes And Effectiveness Of Laws In India To Control Them, Mubashshir Sarshar
Mubashshir Sarshar
No abstract provided.
The U.S.-Ec Dispute Over Customs Matters: Trade Facilitation, Customs Unions, And The Meaning Of Wto Obligations, Daniel H. Erskine
The U.S.-Ec Dispute Over Customs Matters: Trade Facilitation, Customs Unions, And The Meaning Of Wto Obligations, Daniel H. Erskine
Daniel H. Erskine
The article addresses a current WTO dispute between the United States and the European Communities on selected customs matters. The article discusses the necessity for a uniform WTO agreement on trade facilitation, as well as analyzes the apparent inconsistency between the General Agreement on Tariffs and Trade (GATT) Article X’s mandate for WTO Members to uniformly, impartially, and reasonably administer municipal customs laws and Article XXIV’s allowance of individual members of a customs union to substantially apply common commercial regulations and laws in relation to non-members of the customs union. The article concludes that an agreement between WTO Members on …
Corporate Power And Global Order, Dan Danielsen
Corporate Power And Global Order, Dan Danielsen
Dan Danielsen
In this chapter the author suggests that our understanding of transnational regulation and global governance would be enriched were we to think about corporations not as the 'private' other to the 'public' nation-state, but rather as legal institutions performing public regulatory functions with public welfare effects not unlike nation-states. At the same time, I suggest how a focus on the role of corporate activity and decision-making in global governance can expose new sites for political contestation and new strategies for intervention by regulators, policy-makers and activists seeking to harness and shape corporate power more effectively for the public good.