Digital Commons Network^™

The Return Of Timberlane?: The Fifth Circuit Signals A Return To Restrictive Notions Of Extraterritorial Antitrust, William J. Tuttle

Vanderbilt Journal of Transnational Law

Over the past 100 years, the United States has remained ambivalent regarding the potential extraterritorial application of its antitrust laws. The executive, legislative, and judicial branches began with a doctrine of strict territoriality but promptly shifted toward an examination of the effects of the antitrust activity on U.S. commerce. Since the 1970s, the branches of government have refrained the question as one of statutory interpretation, embraced considerations of international comity, modified those considerations, and eventually rejected many of those same considerations.

Throughout this chaos, however, the results reached by the various branches of government have typically been consistent with the …

Professor Jonathan I. Charney: Commitment Underpinned By Conviction, James R. Mchenry, Iii

Vanderbilt Journal of Transnational Law

When I was asked to speak on behalf of the students regarding Professor Charney's contributions to the Law School, I did initially wonder how closely my relationship with him mirrored the experiences of other students. I worked for him for almost two years as a research assistant for the American Journal of International Law; I spoke with him frequently, either in person or via e-mail, about various international legal issues; and he advised me on both my student note for the Vanderbilt Journal of Transnational Law and on my PhD dissertation. Thus, I knew the image that I had of …

The Natural Law Basis Of Legal Obligation: International Antitrust And Opec In Context, Joel B. Moore

Vanderbilt Journal of Transnational Law

The Organization of the Petroleum Exporting Countries (OPEC) stabilizes petroleum prices to promote the economic prosperity of its member nations for which oil is a substantial export. Price stabilization influences the price of petroleum around the world, impacting the economies of developed and developing countries. Under U.S. antitrust jurisprudence, the OPEC quota agreements that stabilize prices would likely be declared illegal, and other countries might also declare price fixing to be illegal under their respective competition laws.

Several U.S. Senators have recently proposed that price fixing should be illegal under international law as well. This Note avoids a superficial analysis …

Jonathan I. Charney: An Appreciation, W. Michael Reisman

Vanderbilt Journal of Transnational Law

Jonathan Charney was one of the leading international legal scholars of his generation. He was the authority on the Law of the Sea and his magisterial four-volume work on international maritime boundaries quickly became the "vade mecum" for anyone involved in virtually any aspect of the Law of the Sea. But Law of the Sea was only a part of his awesome oeuvre. He wrote authoritatively on the use of force and humanitarian intervention; self-determination; customary international law and, in particular, soft law; international environmental law, international tribunals and jurisdiction, technology, and constitutional law. All of his work was marked …

Workplace Violence And Security: Are There Lessons For Peacemaking?, Frances E. Zollers, Elletta S. Callahan

Vanderbilt Journal of Transnational Law

The workplace can serve as a microcosm for global peace initiatives. The many facets of workplace violence provide various lessons for peacemaking. There are a variety of types and causes of workplace violence. There are also many techniques for dealing with workplace violence. Modern management practices parallel the values that are conducive to peace. Corporate structures that promote trust, participation, and dignity are transportable to the local, national, and global markets for peace.

Adapting Corporate Governance For Sustainable Peace, Timothy L. Fort, Cindy A. Schipani

Vanderbilt Journal of Transnational Law

Acts of violence toward multinational corporations have important consequences for the way these companies will need to structure their approach to international business. This Article proposes four contributions that corporations can make to sustainable peace. By incorporating sustainable peace as a business objective, multinational corporations may be able to blend extant corporate governance principles with a goal that can significantly contribute to the reduction of violence in society.

Gender Voice And Correlations With Peace+, Terry M. Dworkin, Cindy A. Schipani

Vanderbilt Journal of Transnational Law

The statistics regarding violence in today's society are staggering. A newly released study published by the World Health Organization, making headlines in the Wall Street Journal (Oct. 3, 2002), reports that "Violence Took 1.6 Million Lives in 2000." This statistic includes only the data obtained from the 70 countries that report such statistics to the World Health Organization, it does not include reports from many other countries where violence is also high, such as Burundi, Rwanda, Iraq, Liberia and Afghanistan.

This Article seeks to address some of these issues of violence by considering issues of gender. The Authors pose the …

700 Families To Feed: The Challenge Of Corporate Citizenship, Tara J. Radin

Vanderbilt Journal of Transnational Law

When Howard Lutnick, CEO of Cantor Fitzgerald, was first interviewed after September 11, 2001, a tragedy that devastated his firm and stole the life of his brother, Lutnick stated that he now had "700 families to feed." The view that he expressed was that his firm was responsible to the families of the wage earners lost in the tragedy, even though the firm was not responsible for the events that had occurred. Such assumed corporate responsibility, consistent with a stakeholder-based approach to management, is often considered to conflict with the law. The purpose of this Article is to demonstrate that …

Corporate Hypergoals, Sustainable Peace, And The Adapted Firm, Thomas W. Dunfee, Timothy L. Fort

Vanderbilt Journal of Transnational Law

Hypergoals are a set of specifiable goals applicable to all publicly-owned, for-profit corporations independent of their purpose, type, business, or legal governance. The identification of hypergoals should be limited to those factors for which a plausible empirical case can be made concerning their role as essential foundations for efficient business interaction. In the context of hypergoals, corporations have a role to play in working toward global, sustainable peace. In working toward the hypergoal of sustainable peace, corporations must attend to two tiers: an immediate, short-term orientation to foster solidarity with local populations in which the corporation works and a longer-term …

Recent Cases, Law Review Editor

Vanderbilt Journal of Transnational Law

Remedies--Fair Labor Standards Act--Private Damage Suit Unavailable to Redress Violations of Child Labor Provisions of the Fair Labor Standards Act

Securities Regulation--Commercial Paper--Promissory Notes with Maturity Not Exceeding Nine Months but Offered to Public as Investment Are "Securities" Within Section 3(a)(10) of the 1934 Act.

Securities Regulation--Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5--A Reorganization in the Form of a Tripartite Merger in Which There Is No Change in the Total Assets Represented by a Share of Stock Does Not Involve a "Purchase or Sale" Within the Meaning of Section 10(b) of The Securities Exchange Act …

Groundings Of Voice In Employee Rights, Dana Muir

Vanderbilt Journal of Transnational Law

The 2001 Symposium on Corporate Governance, Stakeholder Accountability, and Sustainable Peace explored possible connections between corporations and sustainable peace. The Symposium's discussions were inspired by the view that liberal values and democratic principles help prevent violent conflict in society. In this Article, the Author discusses the notable ideas expressed in the symposium, including those articulated by Professors Timothy L. Fort, Cindy A. Schipani, and Terry M. Dworkin. The Author posits that formal programs enabling employees as owners and participants in their corporations may promote employee voice and improve corporate governance. Financial participation rights, decision-making participation rights, and "entry" and "exit" …

Nationbuilding 101: Reductionism In Property, Liberty, And Corporate Governance, O. L. Reed

Vanderbilt Journal of Transnational Law

In this Article, Professor Reed re-examines the importance of property as a formal legal institution. He continues by arguing that central to creating property is the right to exclude others from resources acquired without force, theft, or fraud. In countries where this right has been firmly established, per capita income far exceeds that of countries lacking a strong right to exclude. Professor Reed then asserts the importance to nation builders of appreciating the virtual semantic equivalence of the terms "property" and "liberty." Finally, he argues that both the specific and broad senses of corporate governance can be reduced to property …

Corporate Governance And Sustainable Peace: An Insider's View, Marina N. Whitman

Vanderbilt Journal of Transnational Law

The Author brings her 30 years of experience as a member of numerous corporate boards of directors to bear on the relationship between corporate governance and sustainable peace. In the Author's experience, over the last three decades corporate boards have become more diverse not only in terms of race and gender, but also through a greater focus on international participation. This diversity has led to concern for a broader set of stakeholders and, in many cases, these boards are presently conducting the affairs of their corporations in a more socially-responsible fashion. Despite these gains, however, the Author concedes that recent …

Governing For Genuine Profit, Michael J. O'Hara

Vanderbilt Journal of Transnational Law

Business corporations can have many purposes. The shareholder wealth maximization goal is the proper one for business. This maximization, however, must look to the long-term as well as the short-term. Terrorism is a major threat to the long-term stability, profitability, and even viability of business corporations. Because of a focus on the short-term to the exclusion of the long-term, businesses are likely to shirk their responsibilities related to terrorism and its causes. A paradigm-shift is necessary to bring business to accept their responsibilities and internalize their costs...

This Article will not challenge the shareholder wealth maximization goal. Instead, this Article …

Anti-Circumvention: Has Technology's Child Turned Against Its Mother?, Terri B. Cohen

Vanderbilt Journal of Transnational Law

Because its function is to protect and support innovation, copyright has been deemed a child of technology. Yet, as copyright laws increase the scope of protection for copyrighted material, one may wonder when such protection will begin to stymie, rather than encourage, emerging technology. The global trend toward internationalizing copyright protection has resulted in the World Intellectual Property Organization (WIPO) Copyright Treaty, which was intended, in part, to bring international copyright protection into the digital age. The treaty, however, extends traditional copyright protections by including a requirement that member nations implement anti-circumvention provisions into their laws.

Great debate has emerged …

Nafta Chapter 11 And Professional Sports In Canada, Robert A. Schmoll

Vanderbilt Journal of Transnational Law

Modern professional sports leagues are significant economic enterprises, the most prominent of which span the political border between the United States and Canada. In recent decades, local governments in the United States have invested heavily in professional sports franchises by building stadiums and arenas, hoping either to prevent the home team from moving out or to entice someone else's home team to move in. The willingness to pay of U.S. local governments, coupled with apparently disadvantageous economic conditions in Canada, has resulted in a net loss of professional franchises for Canadian cities, in particular franchises in Canada's national game, hockey. …

Category Iii Films And Vcds: The Failure Of Deterrence In The Copyright Ordinance Of Hong Kong, Allen Woods

Vanderbilt Journal of Transnational Law

In 1997, the government of Hong Kong enacted the Copyright Ordinance. The goal of the Ordinance was to establish a strong deterrent against the illegal manufacture and sale of copyright infringing materials, especially pirated video and digital compact discs. Courts have interpreted the Ordinance to allow the Customs and Excise Department sweeping powers of search and seizure. As a result, the government has seized many thousands of copyright infringing video compact discs and courts have enforced lengthy custodial sentences against guilty parties.

Despite these efforts, though, film piracy continues to grow throughout Hong Kong and transnational film interests have begun …

Multilateral Management As A Fair Solution To The Spratly Disputes, Wei Cui

Vanderbilt Journal of Transnational Law

The Spratlys are a scattered group of islands in the South China Sea over which China, the Philippines, Vietnam, Malaysia, and Brunei have made conflicting jurisdictional claims. Although there has been significant academic discussion of this dispute, the Author argues that much of it is hampered by a discourse obsessed with the regional balance of power and security-related strategies that are only tenuously related to each nation's specific legal claims in the Spratlys. In this Article, the Author suggests that a more productive approach to the Spratly disputes is one focused on finding a solution that is "fair" to all …

From Unwritten To Written: Transformation In The British Common-Law Constitution, David Jenkins

Vanderbilt Journal of Transnational Law

This Article posits that the British Constitution is changing by incorporating written principles that restrain Parliament through judicial review. The Author asserts that this constitutional model has basis in the common law and the orthodox theories of Blackstone and Dicey. In addition, the "ultra vires" doctrine supports the model and provides a basis for judicial review of Parliament. As constitutions may accommodate written and unwritten elements of law, as well as various means of enforcement and change, the Author posits that constitutions are defined by how strongly they reflect underlying legal norms. With a shift in the rule of recognition …

Who Decides The Arbitrators' Jurisdiction? Separability And Competence--Competence In Transnational Perspective, John J. Barcelo, Iii

Vanderbilt Journal of Transnational Law

Separability and competence-competence are two of the best known concepts in international commercial arbitration. They are different, but often linked, because they share a common goal: to prevent early judicial intervention from obstructing the arbitration process. Both concepts address the question, "Who decides arbitrability--courts or arbitrators?" but in different ways. I will discuss those differences later in this comment.

In his excellent paper delivered at this Symposium, "Everything You Really Need to Know About 'Separability' in Seventeen Simple Propositions, Professor Rau focuses principally on separability. His purpose is to defend separability in U.S. arbitration law from the surprisingly common and …

Choice Of Law In Third-Millennium Arbitrations, Fabrizio Marrella

Vanderbilt Journal of Transnational Law

There is little doubt that third-millennium international arbitrators will face the flowering of a transnational rule such as the UNIDROIT Principles for international commercial contracts. They will be used to solve problems of characterization, preliminary questions, and choice of law to the merits of the dispute. In this sense, it appears clearly that these rules are to be construed under a triangular scheme. Thus, lex mercatoria and transnational rules like the UNIDROIT Principles will intervene more and more in the arbitral choice-of-law process in three competing contexts: (1) as a lex contractus; (2) as a means to interpret, supplement, or …

Globalization Of Arbitral Procedure, Gabrielle Kaufmann-Kohler

Vanderbilt Journal of Transnational Law

Imagine attending hearings in three different arbitrations: one in Geneva, one in New York, and one in Hong Kong. All three hearings will likely involve the same hotel conference rooms, the same court reporters, the same language--English, the same types of oral submissions, witness examinations, expert presentations, and procedural arguments, and often even the same people. Does this mean that arbitral procedure is globalized '--that an arbitration is conducted in a uniform manner wherever it takes place, whatever national law governs? Does national law govern at all? This paper will discuss these issues.

Renegotiation And Adaptation Of International Investment Contracts, Klaus P. Berger

Vanderbilt Journal of Transnational Law

In modern-day international investment practice, especially in connection with the exploitation of natural resources, Production Sharing Agreements have come to take over the role of the classic concession agreement. Like their predecessors, these contracts are particularly vulnerable to disturbances in the commercial balance agreed to, or assumed by, the parties at the conclusion of the contract. This vulnerability has three primary causes.

First, these are classic examples of long term contracts. In the petroleum industry, the commitment of significant capital for exploration, particularly in development, and the assumption of considerable risk, particularly in exploration, require contracts covering up to and …

Taking Stock Of Nafta Chapter 11 In Its Tenth Year, Jack J. Coe, Jr.

Vanderbilt Journal of Transnational Law

The North American Free Trade Agreement (NAFTA) came into force on January 1, 1994. Its Eleventh Chapter establishes substantive guarantees and an arbitral mechanism by which qualifying investors may seek damages for breach of those guarantees. The much-discussed investor-state arbitration apparatus was first invoked in September 1996, and since then has been resorted to several times against each NAFTA state. Many cases have concluded, while others are nearing completion. Though a mature jurisprudence has by no means emerged, substantive trends have been established and several of Chapter l's distinctive features, strengths, and weaknesses have been illuminated.

NAFTA's investor-state docket has …

The Problem With Arbitration Agreements, Stephen J. Choi

Vanderbilt Journal of Transnational Law

Arbitration procedures today have become highly standardized. Institutions such as the International Chamber of Commerce (ICC), the London Court of International Arbitration (LCIA), and the American Arbitration Association Center for International Dispute Resolution (AAA) each have detailed provisions for administering arbitration proceedings (often involving parties of different nationalities). Parties entering into arbitration can expect to have limited discovery, a hearing, and the ability to bring attorneys to the proceedings. While typically providing less process than formal court proceedings, the standardized nature of arbitration can lead parties to view arbitration much like court proceedings--a fixed, pre-determined process to settle disputes. Thomas …

The Exercise Of Contract Freedom In The Making Of Arbitration Agreements, Thomas E. Carbonneau

Vanderbilt Journal of Transnational Law

The privatization and contractualization of arbitration, while they empower parties and unburden public institutions, should not eliminate completely the basis for the public regulation of the process. The string of "one-off' arbitrations, gathered together, has consequences upon the public interest in the orderly administration of adjudicative relations in both domestic and international law. The use of arbitration does have a bearing upon the substantive content of legal rights. Judicial vigilance should not only ward off the flagrant abuses of process and procedure in arbitration, but it should also establish an "interests of justice" limitation upon the operation of the process …

The Specificity Of International Arbitration: The Case For Faa Reform, William W. Park

Vanderbilt Journal of Transnational Law

Arbitration by its nature is polycentric: one might more accurately speak of arbitrations in the plural. A wide variety of disputes are included in one category, implicating differences related to the sophistication of the parties, the character of the disputes, and the public interests at stake. The current legal framework for arbitration conducted in the United States attempts to squeeze all types of arbitration into the Procrustean bed of a single set of standards for judicial review.

The United States should seriously consider eliminating judicial discretion to review the substantive merits of awards in international cases. The domestically nourished doctrine …

Renegotiation And Adaptation Clauses In Investment Contracts, Revisited, John Y. Gotanda

Vanderbilt Journal of Transnational Law

Professor Dr. Klaus Berger, in Renegotiation and Adaptation of International Investment Contracts: The Role of Contract Drafters and Arbitrators, proposes that international investment contracts include a clause allowing the parties to renegotiate the terms of their contract if certain events take place.' If they are unable to reach an agreement, Professor Berger advocates that the parties agree to permit an arbitral tribunal to modify the terms of the contract to restore the economic equilibrium assumed by the parties when they concluded the agreement. Although commentators have often championed these clauses, private parties involved in international transactions have included them infrequently. …

Nafta's Investment Chapter: Initial Thoughts About Second-Generation Rights, Charles H. Brower

Vanderbilt Journal of Transnational Law

In this Article Professor Brower argues that most observers of NAFTA's investment chapter have missed an important and surprising development: Although the treaty's text shares a philosophical affinity with civil and political rights, its application has revealed an astonishing level of support for economic and social rights (ESCRs) in North America. Professor Brower examines the practical implications of this development both for the presentation of claims in investor-state arbitration and for the better integration of ESCRs into the mainstream of international law.

Slings And Arrows Of Outrageous Fortune: The Deportation Of "Aggravated Felons", Valerie Neal

Vanderbilt Journal of Transnational Law

Any foreign national who is convicted of an "aggravated felony," as that term is defined in the Immigration and Nationality Act, is subject to deportation from the United States. Deportation of so-called "aggravated felons" is in no way contingent upon the particular facts and circumstances in a given case. More troublingly, on the judiciary has no authority to review a deportation order based "aggravated felony" grounds. In the past decade, Congress has expanded the definition of "aggravated felony" to encompass many minor crimes that are neither aggravated nor felonious.

The deportation of foreign nationals on "aggravated felony" grounds is effectively …