Business Commons^™

The Application Of The Right To Be Forgotten In The Machine Learning Context: From The Perspective Of European Laws, Zeyu Zhao

Catholic University Journal of Law and Technology

The right to be forgotten has been evolving for decades along with the progress of different statutes and cases and, finally, independently enacted by the General Data Protection Regulation, making it widely applied across Europe. However, the related provisions in the regulation fail to enable machine learning systems to realistically forget the personal information which is stored and processed therein.

This failure is not only because existing European rules do not stipulate standard codes of conduct and corresponding responsibilities for the parties involved, but they also cannot accommodate themselves to the new environment of machine learning, where specific information can …

Program & Proceedings Of The 2022 Colloquium Of The Stony Brook University Intellectual Property Partners Female Perspectives On Entrepreneurship And Research How Diverse Perspectives Inspire Creativity, Drive Innovation, And Encourage Inclusive Economic Growth, Clovia Hamilton, Elizabeth Dougherty, Amanda Elam, Pamela J. Kalbfleisch, Siri Terjesen, Jennifer L. Woolley

Technology & Society Faculty Publications

Diverse and varied perspectives are not only central to our institutional mission, but are essential to our society, as we hope to create a more inclusive, more sustainable and ultimately brighter world. Diverse perspectives and collaboration between different institutions, fields and industries must become the norm. This is the program and proceeding of Stony Brook University's colloquium on female perspectives on entrepreneurship and research and how diverse perspectives inspire creativity, drive innovation, and encourage inclusive economic growth. This was a much-needed discussion in January 2022 that's important for the development of entrepreneurship and research worldwide. At Stony Brook University, the …

Female Perspectives On Entrepreneurship And Research How Diverse Perspectives Inspire Creativity, Drive Innovation, And Encourage Inclusive Economic Growth, Clovia Hamilton, Elizabeth Dougherty, Amanda Elam, Pamela J. Kalbfleisch, Siri P. Terjesen, Jennifer L. Woolley

Technology & Society Faculty Publications

Diverse and varied perspectives are not only central to our institutional mission, but are essential to our society, as we hope to create a more inclusive, more sustainable and ultimately brighter world. Diverse perspectives and collaboration between different institutions, fields and industries must become the norm. This is the program and proceeding of Stony Brook University's colloquium on female perspectives on entrepreneurship and research and how diverse perspectives inspire creativity, drive innovation, and encourage inclusive economic growth. This was a much-needed discussion in January 2022 that's important for the development of entrepreneurship and research worldwide. At Stony Brook University, the …

Female Perspectives On Entrepreneurship And Research How Diverse Perspectives Inspire Creativity, Drive Innovation, And Encourage Inclusive Economic Growth, Clovia Hamilton, Elizabeth Dougherty, Amanda Elam, Pamela J. Kalbfleisch, Siri P. Terjesen, Jennifer L. Woolley

Technology & Society Faculty Publications

Diverse and varied perspectives are not only central to our institutional mission, but are essential to our society, as we hope to create a more inclusive, more sustainable and ultimately brighter world. Diverse perspectives and collaboration between different institutions, fields and industries must become the norm. This is the program and proceeding of Stony Brook University's colloquium on female perspectives on entrepreneurship and research and how diverse perspectives inspire creativity, drive innovation, and encourage inclusive economic growth. This was a much-needed discussion in January 2022 that's important for the development of entrepreneurship and research worldwide. At Stony Brook University, the …

Taking Corwin Seriously, Itai Fiegenbaum

Lewis & Clark Law Review

Corporate law’s most important development is founded on a misunderstanding of the channels and consequences of shareholder empowerment. The Article’s title references the seminal Delaware Supreme Court decision that ruled that a positive shareholder vote effectively insulates a friendly sale from judicial oversight. Central to Corwin’s reasoning is the notion that the shareholder vote provides an effective restraint against insider overreaching. Yet every deal that includes a premium over the market price is assured of shareholder approval. The doctrinal lynchpin’s real-life insignificance exposes a baffling inconsistency in contemporary takeover jurisprudence.

This Articles makes two novel contributions to the bourgeoning scholarship …

Acquisitions Entrepreneurship: One Solution To The Looming Business Succession Crisis, David Nows

Indiana Law Journal

In the coming years, there will be a growing supply of small businesses held by aging owners that need to execute a succession plan, transitioning the business to a new owner that can carry the business forward in future years. Unfortunately, very few of these Baby Boomer-led businesses have a plan for who will take over for the primary business owner when the time comes, creating an emerging leadership crisis. However, there is an underutilized acquisition strategy that allows for a motivated and skilled entrepreneur to team with a small group of investors to search for (and ultimately to purchase) …

The U.S. Plastics Problem: The Road To Circularity, Ruth Jebe

Management Faculty Publications and Presentations

Plastics pollution has been an issue in the United States since discovery of the Great Pacific Garbage Patch catapulted it to the forefront of news reporting. Regulatory and academic activity around plastics has had a common feature: it focused almost exclusively on one stage in plastics’ linear model and framed the problem as a waste problem. Challenges have come in two forms: the shift from the linear production model of take-make-waste to a sustainability paradigm represented by the concept of circular production, and disruption of the global plastics waste supply chain occasioned by changes in China’s waste import policies. These …

An Innovative Framework: Evaluating The New German Business Stabilization And Restructuring Law (Starug), Andreas Rauch

Northwestern Journal of International Law & Business

This comment examines the restructuring framework, restrukturierungsgesetz (“StaRUG”), and argues that this new law represents an effective—albeit radical—departure from Germany’s previous, conservative insolvency regime. Passed in response to a 2019 EU Directive aimed at modernizing restructuring law Union-wide, and integrated into the German legal system against the backdrop of the COVID-19 pandemic, StaRUG and its ancillary reforms in other areas of German law create a restructuring proceeding that places a premium on a debtor’s continued business operations. Thus, in a striking shift from the traditional German approach to business distress, which strongly emphasized creditor rights, the new StaRUG focuses on …

Promoting Regulatory Prediction, Jonathan S. Masur, Jonathan R. Nash

Faculty Articles

It is essential for environmental protection that private actors be able to anticipate government regulation. If, for instance, the Biden Administration is planning to tighten regulations of greenhouse gas emissions, it is imperative that private companies anticipate this regulatory change now, not a few years from now after they have constructed even more coal- and gas-fired power plants. Those additional power plants will mean more irreversible greenhouse gases, and these plants can be politically challenging to shutter once built. The point is general to private actors making decisions in the shadow of potential government regulation. Better information about future government …

The Sec’S Climate Disclosure Rule: Critiquing The Critics, George S. Georgiev

Faculty Articles

Climate change is an existential phenomenon, which entails a wide variety of physical risks as well as sizeable but underappreciated economic risks. In March 2022, the U.S. Securities and Exchange Commission (SEC) moved to address some of the information gaps related to the effects of climate change on firms by proposing a rule that requires public companies to report detailed and standardized information about important climate-related matters for the benefit of investors and markets. Though the rule proposal was welcomed by many market participants, it was also met with a level of opposition that was unusual in both its intensity …

Equality Offshore, Martin W. Sybblis

Faculty Articles

Global governance architecture, crafted by wealthy nations, has perpetuated the subordination of developing jurisdictions. The Article offers a novel and surprising analysis of governance tools used by wealthy countries and inter-governmental organizations to constrain offshore financial centers (OFCs) by focusing on the tools’ disparate impacts on tax havens whose populations comprise predominantly Black and Brown people. With tax haven issues garnering increasing attention, this Article provides a pathbreaking conceptual framework for examining the international tax, crime, and business discourse on OFCs. It also illuminates how the actions of powerful international actors, such as the Organization for Economic Cooperation and Development …

Governing Fintech 4.0: Bigtech, Platform Finance, And Sustainable Development, Douglas Arner, Ross Buckley, Kuzi Charamba, Artem Sergeev, Dirk Zetzsche

Fordham Journal of Corporate & Financial Law

Over the past 150 years, finance has evolved into one of the world’s most globalized, digitized, and regulated industries. Digitalization has transformed finance, but also enabled new entrants over the past decade in the form of technology companies, especially FinTechs and BigTechs. As a highly digitalized industry, incumbents and new entrants alike are increasingly pursuing similar approaches and models, focusing on the economies of scope and scale typical of finance and the network effects typical of data. Predictably, this has resulted in the emergence of large digital finance platforms. We argue that the combination of digitalization, new entrants (especially BigTechs), …

Direct Liability And Veil-Piercing: When One Door Closes, Another Opens, King Fung Tsang, Katie Ng

Fordham Journal of Corporate & Financial Law

Piercing the corporate veil has been substantially limited in English law since Prest v. Petrodel. This contraction coincides with the development of the direct liability doctrine which attaches liability directly on the parent company. The authors argue that the shift from using piercing the corporate veil to direct liability is a positive development as it gives English courts a better tool to combat the abuse of separate legal personality. However, compared the English doctrines with their counterparts under the U.S. laws, it is argued that the much broader U.S. piercing doctrine makes the expansion of direct liability doctrine unnecessary in …

Delaware’S Dominance, Wyoming’S Dare: New Challenge, Same Outcome?, Pierluigi Matera

Fordham Journal of Corporate & Financial Law

Despite increasing criticism, Delaware’s dominance in corporate law has not experienced a significant decline: as of today, 67.8 percent of Fortune 500 companies are still incorporated in its jurisdiction. Nevada is known as Delaware’s most important competitor, with an aggressive strategy that has overridden the efforts of any other jurisdiction. Yet, its success has been limited to a specific market segment: small firms with low institutional shareholding and high insider ownership.

Scholars suggest several explanations for both the rise and the staying power of Delaware. These explanations are essentially subsumed under the credible commitment theory and the network theory. According …

The Cryptic Nature Of Crypto Digital Assets Regulations: The Ripple Lawsuit And Why The Industry Needs Regulatory Clarity, Jacqueline Hennelly

Fordham Journal of Corporate & Financial Law

The tension and associated time lag between technology and regulation has been well documented. Paradigmatic of this phenomenon is the global evolution of blockchain technology and digital assets. Digital assets in the blockchain allow users to transact directly without financial intermediaries. However, the regulatory guidelines for the assets, their issuance, and the subsequent transactions are unclear. The Securities and Exchange Commission (SEC) has filed an action to apply its existing regulations and the judicial interpretations to Ripple’s issuance of XRP, its token, and Ripple’s control over subsequent user transactions of XRP. This Note uses SEC v. Ripple as a case …

Goodbye Buybacks? Why Recent Stock Buyback Reform Proposals Go Beyond What Is Necessary, Joshua Zelen

Fordham Journal of Corporate & Financial Law

This note provides an overview of the intensifying debate around the impact that stock buybacks have on economic inequality and the proposals designed to reform the practice. With the advent of the Securities and Exchange Commission’s (SEC) 1982 promulgation of Rule 10b-18, corporations began allocating vast portions of their profits to stock buybacks. In recent years, this practice has become increasingly more common and has surpassed previous historical benchmarks.

Critics of stock buybacks primarily view the practice as a misuse of excess corporate funds that could instead be allocated to improve employee working conditions, benefits, and future outcomes. Opponent’s concerns …

Returning To The Statutory Text: Why The Language Of Section 13(B) Requires Courts To Narrowly Construe The Ftc’S Ability To Obtain Injunctive Relief, Christopher Halm

Fordham Journal of Corporate & Financial Law

The Federal Trade Commission (FTC) enforces over 70 laws in the areas of antitrust and consumer protection, and one valuable tool to support their enforcement is Section 13(b) of the Federal Trade Commission Act (“Section 13(b)”). Section 13(b), among other features, grants the FTC authority to seek an injunction in district court against any defendant that is “about to violate” one or more of those laws. For the past three decades, courts have adopted a permissive judicial interpretation of that language, authorizing injunctions against defendants when the allegedly impending violations were only “likely to recur” based on past misconduct. This …

Peeking Into The House Of Cards: Money Laundering, Luxury Real Estate, And The Necessity Of Data Verification For The Corporate Transparency Act’S Beneficial Ownership Registry, S. Alexandra Bieler

Fordham Journal of Corporate & Financial Law

It is estimated that $800 billion to $2 trillion are laundered globally every year, funding the schemes of bad actors and terrorists alike. These astronomical sums are moved around the world without detection; this is in large part due to the ease with which anonymous shell companies, typically limited liability companies (LLCs), can be created, particularly in the United States. America is one of the most egregious enablers of this practice because most states require little to no information about the person ultimately controlling the entity, known as the “beneficial owner.” Working through an LLC, bad actors often turn to …

Retirement Lost: Enhancing The Durability Of The 401(K) Account, Anna-Marie Tabor

Dickinson Law Review (2017-Present)

American workers have left billions of dollars in 401(k) accounts that they may never be able to find. The problem affects low-wage workers the most, aggravating income-based retirement inequality. Workers who are laid off or change jobs often leave their 401(k) savings in a former employer’s plan. As time passes, communication breaks down between departed employees and their plans, and changes to the employer, plan provider, or individual accounts may prevent the worker from finding the account. Once participants and plans have lost contact with each other, many plans force transfer balances under $5000 into Individual Retirement Accounts, without the …

Sex, Money, And Free Speech: The Many Harms Of Fosta/Sesta, Desmond Mantle

CMC Senior Theses

This thesis tracks the development of the Fight Online Sex Trafficking Act/Stop Enabling Sex Traffickers Act, or FOSTA/SESTA, which became federal law in 2018. The law's passage followed as a natural consequence of popular concerns about human trafficking. Congress passed the legislation by large margins in both houses given bipartisan opposition to sex trafficking. This thesis identifies plausible reasons for the only two Senate votes against the bill: those of Senators Rand Paul and Ron Wyden. Though these senators came from opposite sides of the aisle, they shared concerns about the future of free speech online and the potential failure …

Dentistry And The Law: Network Leasing Arrangements And Their Effect On Fees, Dan Schulte Jd

The Journal of the Michigan Dental Association

Dentists entering network leasing arrangements often face uncertainty about fees due to the lack of transparent fee schedules. While leasing companies aim to connect dentists with insurers and plans, the absence of clear payment information poses challenges. Dentists may receive varying amounts for the same services, impacting financial predictability. The article emphasizes the importance of understanding contract terms, obtaining fee schedules, and monitoring patient volume to assess the arrangement's overall benefit.

Leadership Evolution: The Rise Of Lawyers In The C-Suite, Garry Jenkins, Jon J. Lee

Faculty Articles

The traditional thinking about the path to the top corporate executive leadership posts, reaching the so-called C-suite, is that it begins with earning an MBA degree. By contrast, the JD degree is thought of as one that prepares graduates for the practice of law, for government service, or for public interest advocacy. Since lawyers have historically been trained to protect clients from risk, law is not associated with senior business leadership. Yet, an evolving and accelerating trend is emerging: more lawyers are reaching or crossing over to become part of top corporate management teams. We present findings from our empirical …

Lessons From Psychology For Law Practice Management, Peter G. Glenn

Dickinson Law Review (2017-Present)

No abstract provided.

A Rawlsian Critique Of The Political Speech Constraints On Charities, Johnny Rex Buckles

FIU Law Review

This Essay analyzes whether the Rawlsian concept of public reason explains the substantive content of the lobbying limitation and the campaigning ban, and, more broadly, the implications of public reason for tax-exempt charities and their political speech. The question is notwhether public reasons—distinct premises and conclusions forming an argument—justify these provisions of law, but whether the political activity limitations of IRC § 501(c)(3) are properly understood to manifest or implement the ideal of public reason itself. Additionally, if these statutory constraints do not embody the ideal of public reason, do they offend it?

Interlocking Directorates Among The S&P 500: Social Networks, Gender Diversity, And Corporate Governance, Eric P. Magistad

School of Business Student Theses and Dissertations

This multi-article investigation examines corporate board composition and the implications for regulatory penalties. Director diversity on key board committees and board interlocks influence board behaviors as they relate to regulatory risk. Directors bring experience and inter-industry ties to a board position and subsequently transfer and receive specific knowledge, practices, and contacts with other directors (Hillman & Haynes, 2010). Despite this exchange, firms may suffer regulatory oversight penalties because different directors perceive and respond to risk differently (Douglas & Wildavsky, 1983; Flynn et al., 1994). Leveraging the tenets of the cultural theory of risk perception (Douglas & Wildavsky, 1983) and of …

Learning To Manipulate A Financial Benchmark, Megan Shearer, Gabriel V. Rauterberg, Michael P. Wellman

Law & Economics Working Papers

Financial benchmarks estimate market values or reference rates used in a wide variety of contexts, but are often calculated from data generated by parties who have incentives to manipulate these benchmarks. Since the London Interbank Offered Rate (LIBOR) scandal in 2011, market participants, scholars, and regulators have scrutinized financial benchmarks and the ability of traders to manipulate them.

We study the impact on market welfare of manipulating transaction-based benchmarks in a simulated market environment. Our market consists of a single benchmark manipulator with external holdings dependent on the benchmark, and numerous background traders unaffected by the benchmark. We explore two …

Will Products Liability Litigation Help Protect Iot Users From Cyber-Physical Attacks?, J Royce Fichtner, Troy J. Strader

Journal of International Technology and Information Management

While there is an identifiable trend towards protecting consumers from data breaches and data misuses related to IoT devices through new legislation, new regulations, government enforcement actions, and private lawsuits, there has been little progress towards creating similar legally enforceable standards of care for “cyber-physical device security.” This article explores this underdeveloped area of academic inquiry into cyber-physical device security within the context of product liability litigation in the United States. The two questions addressed in this article are: (1) Have there been any successful products liability court decisions in the United States that have held IoT manufacturers liable for …

Thanks For Noticing!, Christopher J. Smiley Dds

The Journal of the Michigan Dental Association

The 2021 Member Value Survey highlighted the Journal of the Michigan Dental Association (MDA) as the organization's top-rated service, reinforcing its importance as the primary internal marketing tool. The Editorial emphasizes the collaborative efforts involved in maintaining the Journal's quality, including the Editorial Advisory Board, peer-review process, and the dedicated MDA team. Despite success, the Editorial calls for continued improvement, announcing plans to restructure the Editorial Advisory Board and invites members to contribute and shape the Journal's future, ensuring its ongoing value for readers.

Inclusion Of The Mobility Impaired In Our Community: Ask First!, Jeffrey M. Heinz Dds, Msd

The Journal of the Michigan Dental Association

This DEI Series feature article provides a unique perspective on the inclusion of individuals with physical disabilities, focusing on mobility impairment, in the dental profession and community. The author, a paraplegic orthodontist, shares personal experiences and challenges, shedding light on the importance of considering physical disabilities in dental offices. Navigational difficulties in compliant yet wheelchair-unfriendly spaces are discussed, urging practitioners to have contingency plans. The article emphasizes the significance of etiquette in assisting individuals with disabilities, encouraging respectful communication and asking before offering help. Practical insights on dental chair usage and transfer assistance are provided, promoting a more inclusive environment …

Staff Matters: Evaluating Performance During Covid-19 And Staffing Shortages, Jodi Schafer Sphr, Shrm-Scp

The Journal of the Michigan Dental Association

Amidst COVID-19 and staffing shortages, evaluating employee performance requires a nuanced approach. Recognizing the impact of pandemic stress, leaders must balance feedback with understanding. Acknowledge the challenges, celebrate achievements, and discuss growth areas collaboratively. Adjust expectations, focusing on essential issues and fostering a positive, forward-facing environment. Tailor evaluations to individual contributions, addressing concerns constructively. Prioritize one-on-one conversations to convey appreciation and align goals, ensuring a supportive workplace.