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Public Short Selling By Activist Hedge Funds, Vyacheslav Fos 2018 Berkeley Law

Public Short Selling By Activist Hedge Funds, Vyacheslav Fos

Law, Economics, & Business Workshop

No abstract provided.


Is Cost-Benefit Analysis The Only Game In Town?, Gregory C. Keating 2018 University of Southern California

Is Cost-Benefit Analysis The Only Game In Town?, Gregory C. Keating

University of Southern California Legal Studies Working Paper Series

Standards which prescribe more than efficient precaution against physical harm and health injury are commonplace in American environmental, health and safety regulation. The safe level standard, for example, requires the elimination of all significant risks. The feasibility standard requires the elimination of significant risks to the extent insofar as it is possible to do so without impairing the long run survival of the activities which give rise to the risks. These standards reach back more than a generation to the founding of the EPA and OSHA. You might think that they are too well-entrenched in American law to be subject ...


Antitrust Overreach: Undoing Cooperative Standardization In The Digital Economy, Jonathan M. Barnett 2018 University of Southern California

Antitrust Overreach: Undoing Cooperative Standardization In The Digital Economy, Jonathan M. Barnett

University of Southern California Legal Studies Working Paper Series

Information technology markets in general, and wireless communications markets in particular, rely on standardization mechanisms to develop interoperable devices for rapid and secure data processing, storage and transmission. From 2G through the emergent 5G standard, wireless communications markets have largely achieved standardization through cooperative multi-firm arrangements that likely outperform the historically dominant alternatives of government monopoly, which is subject to informational deficits and regulatory capture, and private monopoly, which suffers from pricing and other distortions inherent to protected market positions. This cooperative process has successfully relied on a mix of reasonably secure patents, quasi-contractual licensing commitments supplemented by reputational discipline ...


Bankruptcy For Banks: A Tribute (And Little Plea) To Jay Westbrook, David A. Skeel Jr. 2018 University of Pennsylvania Law School

Bankruptcy For Banks: A Tribute (And Little Plea) To Jay Westbrook, David A. Skeel Jr.

Faculty Scholarship at Penn Law

In this brief essay, to be included in a book celebrating the work of Jay Westbrook, I begin by surveying Jay’s wide-ranging contributions to bankruptcy scholarship. Jay’s functional analysis has had a profound effect on scholars’ understanding of key issues in domestic bankruptcy law, and Jay has been the leading scholarly figure on cross-border insolvency. After surveying Jay’s influence, I turn to the topic at hand: a proposed reform that would facilitate the use of bankruptcy to resolve the financial distress of large financial institutions. Jay has been a strong critic of this legislation, arguing that financial ...


Public Or Private Venture Capital?, Darian M. Ibrahim 2018 William & Mary Law School

Public Or Private Venture Capital?, Darian M. Ibrahim

Popular Media

No abstract provided.


A Bit Like Cash: Understanding Cash-For-Bitcoin Transactions Through Individual Vendors, Stephanie J. Robberson, Mark R. McCoy 2018 University of Central Oklahoma

A Bit Like Cash: Understanding Cash-For-Bitcoin Transactions Through Individual Vendors, Stephanie J. Robberson, Mark R. Mccoy

Journal of Digital Forensics, Security and Law

As technology improves and economies become more globalized, the concept of currency has evolved. Bitcoin, a cryptographic digital currency, has been embraced as a secure and convenient type of money. Due to its security and privacy for the user, Bitcoin is a good tool for conducting criminal trades. The Financial Crimes Enforcement Network (FinCEN) has regulations in place to make identification information of Bitcoin purchasers accessible to law enforcement, but enforcing these rules with cash-for-Bitcoin traders is difficult. This study surveyed cash-for-Bitcoin vendors in Oklahoma, Texas, Arkansas, Missouri, Kansas, Colorado, and New Mexico to determine personal demographic information, knowledge of ...


The Hollowed Out Common Law, Sam Issacharoff, Florencia Marotta-Wurgler 2018 NYU Law School

The Hollowed Out Common Law, Sam Issacharoff, Florencia Marotta-Wurgler

New York University Law and Economics Working Papers

The electronic marketplace poses novel issues for contract law. Contracts created through browsewrap, clickwrap, and shrinkwrap (contracts whose embedded terms are only available after purchase) poorly fit doctrines that emerged from face-to-face offer and acceptance, the mutual execution of a common set of documents, or the rituals of mass market transactions involving physical fine print. Not surprisingly, these contracts of the new electronic marketplace require doctrinal elaboration. Our Article asks not about the specific resolution of new doctrinal challenges, but about how the common law of contracts will be elaborated. Specifically, the Article begins with empirical observations about the domain ...


The Law Officer (Lo) And Compliance Officer (Co): Status, Function, Liabilities, And Relationship, Tamar Frankel 2018 Boston University School of Law

The Law Officer (Lo) And Compliance Officer (Co): Status, Function, Liabilities, And Relationship, Tamar Frankel

Faculty Scholarship

The rise of Compliance officers (COs) has raised questions about their status in institutions and comparisons to the Legal Officers (CLOs). While both officers deal with law and its enforcement, their functions and positions differ in fundamental ways. And while LOs position is recognized, the status of COs is evolving. However, these differences are slowly becoming clearer.

1. While the LO’s function is to provide legal advice to the institutional client, the CO’s function is to (i) evaluate the institution’s activities before violations take place and (ii) help prevent violations of the law by the institution. The ...


Price Discrimination & Intellectual Property, Michael Meurer, Ben Depoorter 2018 Boston Univeristy School of Law

Price Discrimination & Intellectual Property, Michael Meurer, Ben Depoorter

Faculty Scholarship

This chapter reviews the law and economics literature on intellectual property law and price discrimination. We introduce legal scholars to the wide range of techniques used by intellectual property owners to practice price discrimination; in many cases the link between commercial practice and price discrimination may not be apparent to non-economists. We introduce economists to the many facets of intellectual property law that influence the profitability and practice of price discrimination. The law in this area has complex effects on customer sorting and arbitrage. Intellectual property law offers fertile ground for analysis of policies that facilitate or discourage price discrimination ...


Forum Selling Abroad, Stefan Bechtold, Jens Frankenreiter, Daniel M. Klerman 2018 ETH Zurich (Swiss Federal Institute of Technology)

Forum Selling Abroad, Stefan Bechtold, Jens Frankenreiter, Daniel M. Klerman

University of Southern California Legal Studies Working Paper Series

Judges decide cases. Do they also try to influence which cases they decide? Clearly plaintiffs “shop” for the most attractive forum, but do judges try to attract cases by “selling” their courts? Some American judges actively try to enlarge their influence by making their courts attractive to plaintiffs, a phenomenon known as “forum sell-ing.” This article shows that forum selling occurs outside the U.S. as well, focusing on Germany, a country that is often held up as the paragon of the civil law approach to adjudication. As in the U.S., German courts attract cases primarily through the pro-plaintiff ...


The Meaning Of Capital In The Twenty-First Century, Edward J. McCaffery 2018 University of Southern California;California Institute of Tecnology

The Meaning Of Capital In The Twenty-First Century, Edward J. Mccaffery

Edward J McCaffery

America is on a path towards a level of both wealth and income inequality unparalleled in recorded history. Thomas Piketty’s Capital in the Twenty-First Century summarizes and conveys the work of Piketty and many co-authors, over many decades, looking at the structure of income and wealth inequality across many nations and centuries. This review essay builds on Piketty’s ambitions as well as his data, in order to put forth a better solution: one that accepts and even embraces the facts of unequal ownership of capital, but changes the social meaning of those facts to avoid the social harms ...


The Death Of The Income Tax (Or, The Rise Of America's Universal Wage Tax), Edward J. McCaffery 2018 University of Southern California;California Institute of Tecnology

The Death Of The Income Tax (Or, The Rise Of America's Universal Wage Tax), Edward J. Mccaffery

Edward J McCaffery

In 1913, with whispers of progressive politics in the air, Americans ratified a Constitutional amendment allowing for a tax on “all incomes, from whatever source derived.”This set the stage for the individual income tax, a tax meant to fall on wealth and the wealthy. It was a small step, but it was a step. Capital and labor, wealth and wages, would each be paying the price of civilization. The corporate income and gift and estate taxes soon formed a troika of wealth taxes, though the individual income tax fell on upper-income wages as well.

Things changed. Over a century ...


Taxing Wealth Seriously, Edward J. McCaffery 2018 University of Southern California;California Institute of Tecnology

Taxing Wealth Seriously, Edward J. Mccaffery

Edward J McCaffery

The social and political problems of wealth inequality in America are severe and getting worse. A surprise is that the U.S. tax system, as is, is a significant cause of these problems, not a cure for them. The tax-law doctrines that allow those who already have financial wealth to live, luxuriously and tax-free, or to pass on their wealth tax-free to heirs, are simple. The applicable legal doctrines have been in place for nearly a century under the income tax, the primary social tool for addressing matters of economic inequality. The analytic pathways to reform are easy to see ...


It's Tax Not Trade (Stupid), Edward J. McCaffery 2018 University of Southern California;California Institute of Tecnology

It's Tax Not Trade (Stupid), Edward J. Mccaffery

Edward J McCaffery

Globalization, trade and other free market policies increase wealth. But the gains from trade are not being evenly spread among all citizens. People and politicians rage against foreigners. But it is the United States tax system, not trade, that ought to change, and wealthy Americans, not workers world-wide, who should be sharing the wealth. A nd it is the form of tax, not just its rate structure, that must reform, so that capital at last bears a meaningful share of the burden.


Finishing The Job Best Practices For A Diverse Workforce In The Construction Industry V.8 Sept 2018, Susan Moir ScD 2018 University of Massachusetts Boston

Finishing The Job Best Practices For A Diverse Workforce In The Construction Industry V.8 Sept 2018, Susan Moir Scd

Labor Studies Faculty Publication Series

This manual is a work in progress. It is produced by the Policy Group on Tradeswomen’s Issues (PGTI), a regional collaboration of researchers, government agencies, unions, community-based organizations, developers and contractors committed to increasing access for women and people of color to good paying careers in the construction trades. Our goal is to make our shared efforts and experiences helpful to industry leaders who share our commitment. It is based on best practices developed on major projects that came close, met, or exceeded workforce hiring goals. This manual and additional resources are available online at on the PGTI website ...


Making Sustainability Disclosure Sustainable, Jill E. Fisch 2018 University of Pennsylvania Law School

Making Sustainability Disclosure Sustainable, Jill E. Fisch

Faculty Scholarship at Penn Law

Sustainability is receiving increasing attention from issuers, investors and regulators. The desire to understand issuer sustainability practices and their relationship to economic performance has resulted in a proliferation of sustainability disclosure regimes and standards. The range of approaches to disclosure, however, limit the comparability and reliability of the information disclosed. The Securities & Exchange Commission (SEC) has solicited comment on whether to require expanded sustainability disclosures in issuer’s periodic financial reporting, and investors have communicated broad-based support for such expanded disclosures, but, to date, the SEC has not required general sustainability disclosure.

This Article argues that claims about the relationship ...


Taking Control Rights Seriously, Robert Rasmussen 2018 University of Southern California

Taking Control Rights Seriously, Robert Rasmussen

University of Southern California Legal Studies Working Paper Series

It is common to observe that investors receive both cash flow rights and control rights against a borrower. The crucial differences between these two “rights” is rarely focused on. Cash flow rights are rights in that they are legal entitlements. Outside of bankruptcy, failure to pay entitles a lender to resort to a legal remedy against the borrower. Inside of bankruptcy, the Bankruptcy Code structures the way in which these legal entitlements will be adjusted. Control rights are different. They do not confer direct power over the business, nor do they provide lenders with a judicial remedy that allows them ...


Cryptocurrencies: The New Species, Ors Penzes 2018 Attorney

Cryptocurrencies: The New Species, Ors Penzes

Nova Law Review

No abstract provided.


Economic Liberty "In A World Of Pure Imagination”: A Theoretical Analysis Of Willy Wonka, Natural Rights, And The New Age Of Innovation, Tammy M. Eick 2018 Nova Southeastern University

Economic Liberty "In A World Of Pure Imagination”: A Theoretical Analysis Of Willy Wonka, Natural Rights, And The New Age Of Innovation, Tammy M. Eick

Nova Law Review

No abstract provided.


The Diminishing Duty Of Loyalty, Julian Velasco 2018 Notre Dame Law School

The Diminishing Duty Of Loyalty, Julian Velasco

Journal Articles

Fiduciary duties comprise an integral part of corporate law. It is generally understood that directors owe the corporation and its shareholders two fiduciary duties: the duty of care and the duty of loyalty. Although both duties are firmly established in corporate law, they are not treated equally. It is generally understood that the duty of loyalty is enforced far more rigorously than the duty of care. The justification for this dichotomy is twofold. First, differential treatment is appropriate because of the relative urgencies of the underlying subject matter: loyalty issues pose greater risks than do care issues. Second, the deference ...


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