Business Commons^™

Who Pays The Auditor Calls The Tune?: Auditing Regulations And Clients' Incentives, Amy Shapiro

Cornell Law Faculty Publications

As we move on from the financial scandals of the early 2000s, the question of how to prevent the next Enron continues to be a pressing one. This Article focuses on the law’s deeply conflicted treatment of auditors of public corporations. Though the audit firm is charged with serving as the public’s watchdog in insuring good financial disclosure, the auditor’s actual client is the audited corporation itself, whose interests concerning disclosure are not necessarily aligned with those of investors. Because the Sarbanes-Oxley Act of 2002 left this structure in place, further reform is needed. One promising suggestion is to give …

The Effects Of Malpractice Tort Reform On Defensive Medicine, Heather M. O'Neill, Katherine D. Hennesy

Business and Economics Faculty Publications

Medical malpractice crises occur across states to differing degrees, thus the proposed changes in state tort reforms differ accordingly. The primary overt goals of tort reform aim to address: rising medical malpractice insurance rates, increased frequency and severity of awards, and the increased incidence of doctors shuttering offices or fleeing states due to untoward malpractice environments. A secondary goal of tort reform is to reduce health care costs attributed to malpractice costs. Clearly, as malpractice tort reforms are debated in state capitols and reforms take place, the effects of the reforms on the goals above can be examined. However, there …

Proposed Legislation On Short Term Time Off In The 108th Congress, Workplace Flexibility 2010, Georgetown University Law Center

Charts and Summaries of State, U.S., and Foreign Laws and Regulations

No abstract provided.

Eligibility For Medical & Family Leave Under The Fmla: Development Of The Statutory Text 1985-1993, Workplace Flexibility 2010, Georgetown University Law Center

Charts and Summaries of State, U.S., and Foreign Laws and Regulations

No abstract provided.

The Internal Revenue Service’S Proposed Phased Retirement Regulations: Summary Of Comments, Workplace Flexibility 2010, Georgetown University Law Center

Charts and Summaries of State, U.S., and Foreign Laws and Regulations

No abstract provided.

Eligibility For Medical Leave Under The Fmla, Workplace Flexibility 2010, Georgetown University Law Center

Memos and Fact Sheets

The Family and Medical Leave Act of 1993 (FMLA) permits eligible workers to take up to 12 weeks per year of unpaid leave for medical reasons—either their own or those of an immediate family member. In the case of personal medical leave, an employee is entitled to leave for medical conditions that constitute “serious health conditions” and that make an employee unable to perform the functions of his or her position. The FMLA statute defines “serious health condition” as: “an illness, injury, impairment or physical or mental condition that involves inpatient care or continuing treatment by a health care provider.” …

Virtual Worlds In Asia: Business Models And Legal Issues. Paper Presented At Digra, Ian Macinnes

School of Information Studies - Faculty Scholarship

This paper uses two Asian case studies to illustrate the issues that developers of virtual worlds should address as they mature. The Korean case emphasizes the phenomenon of item trading. This involves emergent markets linking real world currency to items existing on company servers. The practice has resulted in controversial and unresolved legal issues. Companies such as ItemBay have grown to take advantage of these opportunities. The Chinese case emphasizes the transformation of business models over time as well as community control. The paper discusses feedback effects between broadband adoption and online games as well as issues such as Waigua, …

Electronic Commerce Fraud: Towards An Understanding Of The Phenomenon, Ian Macinnes, Damani Musgrave, Jason Laska

School of Information Studies - Faculty Scholarship

No abstract provided.

Introduction: The Enduring Power Of Collective Rights, In Labor Law Stories, Catherine L. Fisk, Laura J. Cooper

Faculty Scholarship

No abstract provided.

Improving The Efficiency Of The Angel Finance Market: A Proposal To Expand The Intermediary Role Of Finders In The Private Capital Raising Setting, John L. Orcutt

Law Faculty Scholarship

The angel finance market is of critical importance to the financing and creation of rapid-growth start-ups, whose continuous creation plays a substantial role in the success of the U.S. economy. Unfortunately, the angel finance market suffers from systematic problems, including information and agency problems and high transaction costs, that limit its ability to adequately finance these rapid-growth start-ups. One reason for the angel market's inefficiency is the lack of meaningful financial intermediaries that operate in the market. One logical group that could serve a meaningful intermediary role in the angel market is finders. The current regulatory treatment of finders, however, …

Legal And Ethical Implications Of Employee Location Monitoring, Gundars Kaupins, Robert Minch

Management Faculty Publications and Presentations

Location technologies allow employers to monitor the location of employees. The technologies range from global positioning systems able to determine outdoor locations worldwide to sensor networks able to determine locations within buildings. Few international laws and no American laws directly address location monitoring. International privacy laws, the Electronic Communications Privacy Act, the USA Patriot Act and other laws involving Internet and e-mail monitoring might provide the pattern for future location monitoring legislation. Ethical considerations such as privacy, accuracy, inconsistency, security, and reputation also may affect future legislation. In writing corporate policies governing location monitoring, the employer’s business interests may outweigh …

How Do Corporations Play Politics? The Fedex Story, Jill E. Fisch

All Faculty Scholarship

Corporate political activity has been the subject of federal regulation since 1907, and the restrictions on corporate campaign contributions and other political expenditures continue to increase. Most recently, Congress banned soft money donations in the Bipartisan Campaign Reform Act of 2002 ("BCRA"), a ban upheld by the Supreme Court in McConnell v. FEC. Significantly, although the omnibus BCRA clearly was not directed exclusively at corporations, the Supreme Court began its lengthy opinion in McConnell by referencing and endorsing the efforts of Elihu Root, more than a century ago, to prohibit corporate political contributions. Repeatedly, within the broad context of campaign …

Solving The Bargaining Democracy Problem Using A Constitutional Hierarchy Of Law, Clas Wihlborg

Business Faculty Articles and Research

In the “bargaining democracy” groups form coalitions that are able to grant benefits to themselves through legislation. These benefits may lack popular support. A constitutional hierarchy of conflicting laws is proposed to resolve this democratic problem. In the hierarchy more “rule-oriented” legislation dominate. The hierarchy would create a momentum of the political process towards more rule-oriented legislation and policy debate. The difficulty of defining a rule operationally is overcome by limiting the task of a constitutional court to simply rank conflicting policy actions in terms of criteria for rules.

Basel Ii And The Need For Bank Distress Resolution Procedures, Clas Wihlborg

Business Faculty Articles and Research

It is argued that without increased market discipline Basel II is not likely to resolve the regulatory problem caused by explicit and implicit guarantees of depositors and other creditors of banks. One way to enhance market discipline is to implement proposals for mandatory subordinated debt. For these proposals to achieve their objective, the non-insurance of holders of subordinated debt must be credible. Increased credibility of non-insurance of one or several groups of creditors could be enhanced if distress resolution procedures for banks were pre-specified, and if they made possible bank failures without serious disruption of the financial system. The existence …

To Judge Leviathan: Sovereign Credit Ratings, National Law, And The World Economy, Christopher Bruner, Rawi Abdelal

Scholarly Works

Recent decades have witnessed the remarkable rise of a kind of market authority almost as centralized as the state itself – two credit rating agencies, Moody’s and Standard & Poor’s. These agencies derive their influence from two sources. The first is the information content of their ratings. The second is both more profound and vastly more problematic: Ratings are incorporated into financial regulations in the United States and around the world. In this article we clarify the role of credit rating agencies in global capital markets, describe the host of problems that arise when their ratings are given the force …

On The Regulation Of Networks As Complex Systems: A Graph Theory Approach, Daniel F. Spulber, Christopher S. Yoo

All Faculty Scholarship

The dominant approach to regulating communications networks treats each network component as if it existed in isolation. In so doing, the current approach fails to capture one of the essential characteristics of networks, which is the complex manner in which components interact with one another when combined into an integrated system. In this Essay, Professors Daniel Spulber and Christopher Yoo propose a new regulatory framework based on the discipline of mathematics known as graph theory, which better captures the extent to which networks represent complex systems. They then apply the insights provided by this framework to a number of current …

Institutional Competition To Regulate Corporations: A Comment On Macey, Jill E. Fisch

All Faculty Scholarship

No abstract provided.

Corporate Shaming Revisited: An Essay For Bill Klein, David A. Skeel Jr.

All Faculty Scholarship

No abstract provided.

Medical Malpractice And The Insurance Underwriting Cycle, Tom Baker

All Faculty Scholarship

No abstract provided.

The Unique Benefits Of Treating Personal Goodwill As Property In Corporate Acquisitions, Darian M. Ibrahim

Faculty Publications

Corporate acquisition talks may not get far if buyer and seller disagree over transaction structure, which can have significant after-tax effects. But the parties may have overlooked an item that, due to its potential tax treatment, could be the key to facilitating the acquisition. That item is the selling shareholder's "personal goodwill."

Personal goodwill exists when the shareholder's reputation, expertise, or contacts gives the corporation its intrinsic value. It is most likely to be found in closely held businesses, especially those that are technical, specialized, orprofessional in nature or have few customers and suppliers. If personal goodwill is treated as …

On The Nature Of Corporations, Lynn A. Stout

Cornell Law Faculty Publications

Legal experts traditionally distinguish corporations from unincorporated business forms by focusing on corporate characteristics like limited shareholder liability, centralized management, perpetual life, and free transferability of shares. While such approaches have value, this essay argues that the nature of the corporation can be better understood by focusing on a fifth, often-overlooked, characteristic of corporations: their capacity to "lock in" equity investors' initial capital contributions by making it far more difficult for those investors to subsequently withdraw assets from the firm. Like a tar pit, a corporation is much easier for equity investors to get into, than to get out of. …

Law As Design: Objects, Concepts, And Digital Things, Michael J. Madison

Articles

This Article initiates an account of things in the law, including both conceptual things and material things. Human relationships matter to the design of law. Yet things matter too. To an increasing extent, and particularly via the advent of digital technology, those relationships are not only considered ex post by the law but are designed into things, ex ante, by their producers. This development has a number of important dimensions. Some are familiar, such as the reification of conceptual things as material things, so that computer software is treated as a good. Others are new, such as the characterization of …

Retaliation, Deborah Brake

Articles

This Article takes a comprehensive look at retaliation and its place in discrimination law. The Article begins by examining current social science literature to understand how retaliation operates as a social practice to silence challenges to discrimination and preserve inequality. Then, using the recent controversy over whether to imply a private right of action for retaliation from a general ban on discrimination as a launching point, the Article theorizes the connections between retaliation and discrimination as legal constructs, and contends that retaliation should be viewed as a species of intentional discrimination. The Article argues that situating retaliation as a practice …

Solving The Digital Piracy Puzzle: Disaggregating Fair Use From The Dmca's Anti-Device Provisions, Jacqueline D. Lipton

Articles

Copyright law has always involved balancing creative pursuits against innovations in copying, distribution and, more recently, encryption technologies. A significant problem for copyright law is that many such technologies can be utilized for both socially useful and socially harmful purposes. It is difficult to regulate such technologies in a way that prevents social harms while at the same time facilitating social benefits. The most recent example of this dynamic is evident in the 2005 United States Supreme Court decision in MGM v Grokster - dealing with digital file-sharing technologies. This article draws from the file sharing debate in considering another …

Living With Leave Part I: Intermittent Leave, Workplace Flexibility 2010, Georgetown University Law Center

Charts and Summaries of State, U.S., and Foreign Laws and Regulations

No abstract provided.

Fmla Scope, Coverage, And Eligibility, Workplace Flexibility 2010, Georgetown University Law Center

Charts and Summaries of State, U.S., and Foreign Laws and Regulations

No abstract provided.

Length Of Medical & Family Leave Allowed Under The Fmla & Covered Employers' Number Of Employees: Development Of Statutory Text (1985-1993), Workplace Flexibility 2010, Georgetown University Law Center

Charts and Summaries of State, U.S., and Foreign Laws and Regulations

No abstract provided.

Comparative Chart Of California’S Leave And Wage Replacement Laws, Workplace Flexibility 2010, Georgetown University Law Center

Charts and Summaries of State, U.S., and Foreign Laws and Regulations

No abstract provided.

Living With Leave Part Ii: Notice, Designation, And Substitution Of Leave Issues, Workplace Flexibility 2010, Georgetown University Law Center

Charts and Summaries of State, U.S., and Foreign Laws and Regulations

No abstract provided.

Legislation Proposed In The 108th Congress Relating To The Family And Medical Leave Act, Workplace Flexibility 2010, Georgetown University Law Center

Charts and Summaries of State, U.S., and Foreign Laws and Regulations

No abstract provided.