Law Commons^™

Is A Ban On Non-Competes Supported By Empirical Evidence?, Sarah Oh Lam, Thomas Lenard, Scott Wallsten

Fordham Journal of Corporate & Financial Law

The U.S. Federal Trade Commission (FTC) has proposed a rule to declare virtually all non-compete agreements unfair methods of competition under Section 5 of the FTC Act and therefore, illegal. However, the empirical literature on non-compete agreements cited by the FTC in its Notice for Proposed Rulemaking (“NPRM”) shows mixed results on earnings, job creation, firm formation, entrepreneurship, training, investment, and firm value. Evidence in other current studies also does not support an economy-wide ban. The FTC concludes that the proposed rule would yield net benefits even though by its own admission it lacks the information necessary to conduct a …

Loophole Entrepreneurship, Brian M. Sirman

Fordham Journal of Corporate & Financial Law

All entrepreneurs seek favorable legal or regulatory treatment for their businesses. Sometimes this leads an entrepreneur to build a business within a gap in the law—a loophole. In so doing, these “loophole entrepreneurs” may avoid steep regulatory compliance costs that otherwise would beset (or perhaps prohibit) their businesses, thereby gaining advantages over competitors. Despite these benefits, loophole entrepreneurship is fraught with risks. Loopholes, by nature, are fragile, and their contours are often uncertain. Moreover, the stigma of “exploiting a loophole” (which connotes unfairness or deception) can provoke ill will among competitors, policymakers, and the public.

The ranks of loophole entrepreneurs …

Outsourcing Voting To Ai: Can Chatgpt Advise Index Funds On Proxy Voting Decisions?, Chen Wang

Fordham Journal of Corporate & Financial Law

Released in November 2022, Chat Generative Pre-training Transformer (“ChatGPT”), has risen rapidly to prominence, and its versatile capabilities have already been shown in a variety of fields. Due to ChatGPT’s advanced features, such as extensive pre-training on diverse data, strong generalization ability, fine-tuning capabilities, and improved reasoning, the use of AI in the legal industry could experience a significant transformation. Since small passive funds with low-cost business models generally lack the financial resources to make informed proxy voting decisions that align with their shareholders’ interests, this Article considers the use of ChatGPT to assist small investment funds, particularly small passive …

The Public’S Companies, Andrew K. Jennings

Fordham Journal of Corporate & Financial Law

This Essay uses a series of survey studies to consider how public understandings of public and private companies map into urgent debates over the role of the corporation in American society. Does a social-media company, for example, owe it to its users to follow the free-speech principles embodied in the First Amendment? May corporate managers pursue environmental, social, and governance (“ESG”) policies that could reduce short-term or long-term profits? How should companies respond to political pushback against their approaches to free expression or ESG?

The studies’ results are consistent with understandings that both public and private companies have greater public …

Divined Comity: Assessing The Vitamin C Antitrust Litigation And Updating The Second Circuit’S Prescriptive Comity Framework, William Weingarten

Fordham Journal of Corporate & Financial Law

In re Vitamin C Antitrust Litigation, recently decided by the Second Circuit, sets a grave precedent for American plaintiffs seeking redress for antitrust injuries wrought by foreign defendants. The case involved a group of Chinese manufacturers and exporters of vitamin C, who conspired to fix prices and restrict output in the export market, injuring American consumers in import commerce. The foreign manufacturers conceded that they had colluded in fixing prices and restricting output, in flagrant violation of U.S. antitrust law. And yet, with the assistance of the Chinese government—intervening as amicus curiae—the defendants were successfully able to argue, on appeal …

Expanding Mfw: Delaware Law Should Offer A Business Judgment Rule Safe Harbor For All Conflicted Controller Transactions, Alex Lindsey

Fordham Journal of Corporate & Financial Law

While courts usually defer to a board’s business decisions under the business judgment rule, courts will apply a much less deferential standard of review due to loyalty concerns if a conflicted controller is involved in a business decision such as a merger. However, in Kahn v. M & F Worldwide (“MFW”) when a squeeze out merger was challenged by a minority stockholder, the Delaware Supreme Court reviewed the transaction under the deferential business judgment rule standard because the Court found that the structure of the transaction neutralized the controller loyalty concerns. Building on this reasoning, the Court developed a checklist …

The Problem With The “Non-Class” Class: An Urgent Call For Improved Gatekeepers In Merger Objection Litigation, Josh Molder

Fordham Journal of Corporate & Financial Law

Until recently, class actions dominated merger objection litigation. However, plaintiff’s lawyers have constructed a “non-class” class where an individual suit can benefit from the leverage of a certified class without ever meeting the stringent class certification requirements of Federal Rules of Civil Procedure 23. This new development has initiated a shift in merger objection litigation where plaintiffs are increasingly filing individual suits instead of class actions. However, this shift has left shareholders vulnerable to collusive settlements because plaintiff’s attorneys have significant control over these suits and a strong incentive to settle quickly for a substantial fee. Additionally, corporate defendants are …

Reducing Food Scarcity: The Benefits Of Urban Farming, S.A. Claudell, Emilio Mejia

Journal of Nonprofit Innovation

Urban farming can enhance the lives of communities and help reduce food scarcity. This paper presents a conceptual prototype of an efficient urban farming community that can be scaled for a single apartment building or an entire community across all global geoeconomics regions, including densely populated cities and rural, developing towns and communities. When deployed in coordination with smart crop choices, local farm support, and efficient transportation then the result isn’t just sustainability, but also increasing fresh produce accessibility, optimizing nutritional value, eliminating the use of ‘forever chemicals’, reducing transportation costs, and fostering global environmental benefits.

Imagine Doris, who is …

Pricing Corporate Governance, Albert Choi

Articles

Scholars and practitioners have long theorized that by penalizing firms with unattractive governance features, the stock market incentivizes firms to adopt the optimal governance structure at their initial public offerings (IPOs). This theory, however, does not seem to match with practice. Not only do many IPO firms offer putatively suboptimal governance arrangements, such as staggered boards and dual-class structures, but these arrangements have been gaining popularity among IPO firms. This Article argues that the IPO market is unlikely to provide the necessary discipline to incentivize companies to adopt the optimal governance package. In particular, when the optimal governance package differs …

The Contemporary Tax Journal Volume 12, No. 2 – Winter 2023

The Contemporary Tax Journal

No abstract provided.

H.R. 3000 (118th Congress) – Expansion Of Certain Tax Preferences For Higher Education, Min Thein, Ling Yang

The Contemporary Tax Journal

No abstract provided.

The Contemporary Tax Journal’S Interview With Mr. Wayne Monfries, Enas Al-Mais

The Contemporary Tax Journal

No abstract provided.

California Ab 1249, Sales Tax Holiday For School Supplies, Michelle Buchner, Aizhan Toibazarova

The Contemporary Tax Journal

No abstract provided.

Can A Construction Company Claim The Section 41 Research Credit?, Aizhan Toibazarova

The Contemporary Tax Journal

No abstract provided.

The 39th Annual Tei-Sjsu High Tech Tax Institute Conference On Nov 6 – 7, 2023, Tom He Cpa, Aizhan Toibazarova

The Contemporary Tax Journal

No abstract provided.

California Sb 584, Short Term Rental, Khanh Le, Cheryl Gamat

The Contemporary Tax Journal

No abstract provided.

H.R. 1477 (118th Congress) - Freedom To Invest In Tomorrow’S Workforce Act, Eric Varaghese, Sereyrod (Rod) Chea

The Contemporary Tax Journal

No abstract provided.

Book Review: Inequality In America: Causes And Consequences, Eya Mahouachi

The Journal of Values-Based Leadership

Inequality in America: Causes and Consequences is a recent book authored by Rycroft (economics, Univ. of Mary Washington, Fredericksburg, VA) and Kinsley (business law, Univ. of Mary Washington, Fredericksburg, VA) and was written by scholars, advanced graduate students, and expert practitioners. Their book attempts to bridge the gap in scholarship and practice by incorporating the causes and consequences of history, the current state of inequality in the United States, and future consequences if left unresolved. This book is structured according to fundamental topics such as education, healthcare, housing, environmental issues, and the justice system. Using an effective approach to teaching …

Written Testimony Of Philip Hackney For The Hearing On Growth Of The Tax-Exempt Sector And The Impact On The American Political Landscape (U.S. House Ways & Means Subcommittee On Oversight, December 13, 2023), Philip Hackney

Testimony

In written testimony before the House Ways & Means Subcommittee on Oversight on December 13, 2023, Professor Hackney emphasized three points about tax-exempt organizations and politics: (1) a diverse nonprofit sector that fosters civic participation and engagement is a gem of the United States -- we should maintain that; (2) the IRS budget for Exempt Organizations continues to NOT be sufficient to ensure the laws are equally and fairly enforced; and (3) there are simple things the IRS could do to enforce the law that it is not doing.

A Critical Librarianship Approach For Teaching Patent Searching: Who Becomes An Inventor In America?, Dave Zwicky, Ilana Stonebraker

Libraries Faculty and Staff Scholarship and Research

The ways in which a technology is invented, owned, and approved are strongly influenced by the same oppressive and exclusionary structures that critical librarianship interrogates. Patents, limited-term grants of rights to inventions, are issued to inventors in exchange for detailed specifications of the invention. This paper examines current practices used by business librarians in teaching students how to find patents and how these practices could be critically informed given the nature of the United States patent system as it exists today. An output of this work is a suggested lesson plan with recommended resources.

Polisci 3210f: Feasibility Of A National Disability Insurance Plan (Ndip) In Canada, Twana Hassan, Aditi Priya, Dylan Poole, Samantha Rubin, Ethan Chen

Community Engaged Learning Final Projects

This research report presents an overview of the feasibility and reliability of a National Disability Insurance Plan (NDIP) in Canada. Several Global North countries are leading the way in disability legislation and disability funding in comparison to Canada's inaction on the matter. A National Disability Insurance Plan in Canada will have social and economic benefits for everyone in Canada. The report concluded that Canada is capable of implementing a NDIP and doing so is the right choice.

Retraction Of "Trauma Reverberations: A Study Of Selected Novels", Intisar Rashid Khaleel, Raed Idrees Mahmood

Journal of STEPS for Humanities and Social Sciences

No abstract provided.

New Dentists’ Most-Asked Legal Questions, Dan Schulte Jd

The Journal of the Michigan Dental Association

This feature addresses new dentists' most frequently asked legal questions, offering concise answers to guide them. Topics include licensing requirements, dental record maintenance, accommodations for hearing-impaired and non-English proficient patients, the enforceability of covenants not to compete, the necessity of written employment agreements, responding to bad dental work, reporting suspected abuse, prescribing drugs to friends and family, contract terms with dental plans, and handling suspected employee theft. The article emphasizes the importance of understanding legal aspects to navigate a dental career successfully.

Dentistry And The Law: Requiring Proof Of Adoption/Retaining Orthodontic Models, Dan Schulte Jd

The Journal of the Michigan Dental Association

In this Dentistry and the Law column, a dentist seeks guidance on handling a situation where racial differences between a child and an accompanying adult raised concerns during an examination, leading the dentist to request proof of adoption. The response clarifies that asking for proof of adoption is not illegal, citing relevant Michigan adoption statutes. The column advises adopting an office policy, emphasizing human trafficking training. Additionally, a dentist inquires about retaining orthodontic models and X-ray films. The answer recommends assuming orthodontic models are part of dental records, subject to a 10-year retention period. Patients can be given their models, …

Mda Workforce Survey Results Are In: Answers And Opportunities, Eric Knudsen Dds

The Journal of the Michigan Dental Association

This President's Message addresses critical workforce challenges in dentistry based on the Michigan Dental Association's (MDA) recent workforce survey. The survey identifies significant issues such as the shortage of dental professionals, wage stagnation, and the impact of retirement trends on the dental labor market. Findings indicate a need for immediate solutions, leading the MDA to develop initiatives targeting the return of registered dental assistants (RDAs) and registered dental hygienists (RDHs) to the workforce. The survey results emphasize the importance of competitive wages and desirable benefits to attract and retain dental staff. The MDA plans targeted advertising and free job postings …

Endodontic Therapy, Crown Amputation, And Soft Tissue Advancement To Treat A Hopeless Tooth, Timothy Daws Dds, Thomas Bolten Dds, Md

The Journal of the Michigan Dental Association

Managing patients with a history of intravenous bisphosphonates and antiresorptive medications poses challenges in clinical decision-making. Extractions are generally discouraged in these patients due to the risk of medication-related osteonecrosis of the jaw (MRONJ). This case study presents an 89-year-old female with metastatic breast cancer on Xgeva, facing a non-restorable tooth (#30). A collaborative approach involving the general dentist, endodontist, and oral surgeon employed endodontic therapy, crown amputation, and soft tissue advancement, avoiding extraction. The technique, akin to coronectomy, mitigates MRONJ risk by preserving bone integrity. Follow-up assessments indicate successful treatment without complications, highlighting the efficacy of this approach in …

Legal Risk And Insider Trading, Marcin Kacperczyk, Emiliano Sebastian Pagnotta

Research Collection Lee Kong Chian School Of Business

Do illegal insiders internalize legal risk? We address this question with hand-collected data from 530 SEC (the U.S. Securities and Exchange Commission) investigations. Using two plausibly exogenous shocks to expected penalties, we show that insiders trade less aggressively and earlier and concentrate on tips of greater value when facing a higher risk. The results match the predictions of a model where an insider internalizes the impact of trades on prices and the likelihood of prosecution and anticipates penalties in proportion to trade profits. Our findings lend support to the effectiveness of U.S. regulations' deterrence and the long-standing hypothesis that insider …

How Trade Liberalization And Labor Development Could Coincide In The Philippines, Aeneas Dr Hernandez, Brendan Emmanuel A. Miranda, Martin William P. Regulano, Andrae Jamal Tecson, Martin William P. Regulano, Ma. Ella Oplas, Tereso S. Tullao Jr, Winfred M. Villamil

Angelo King Institute for Economic and Business Studies (AKI)

As the world adapts to the rapid pace of globalization in the 21st century, countries ease trade restrictions by gradually removing tariffs and non-tariff barriers to incentivize the free flow of goods across nations. This prevalence of trade liberalization policies propelled policymakers and economists to investigate the relationship between trade reforms and economic outcomes including wage inequality around the world. They found that trade liberalization, on average, has had a positive impact on economic growth, but prior studies that examine the effects of trade liberalization on wage inequality in developing countries have found mixed results. Recently, Murakami (2021) examined the …

Be A Leader In Your Practice: What’S Your Style?, William Chase Dds, Maom

The Journal of the Michigan Dental Association

In this Leadership Development feature, the author draws from a wealth of leadership experience in Rotary to explore the importance of leadership in dentistry. Emphasizing the need for self-evaluation through emotional intelligence, the article delves into five key aspects: self-awareness, self-regulation, motivation, empathy, and social skills. The author introduces three leadership styles — Transformational Leadership, Situational Leadership, and Servant Leadership — highlighting their characteristics and benefits. Encouraging readers to adopt diverse leadership styles, the piece underlines the significance of effective leadership in dental practice, community engagement, and organized dentistry.

Staff Matters: Holiday Celebrations That Engage And Appreciate Employees, Jodi Schafer Sphr, Shrm-Scp

The Journal of the Michigan Dental Association

This Staff Matters column addresses a dentist's concerns about organizing inclusive end-of-year holiday celebrations for the staff. The response emphasizes the importance of recognizing diverse religious practices and fostering camaraderie. Suggestions include a themed recipe exchange, outdoor activities, community service, or involving staff in event planning. Emphasizing the need for initial guidance to align with goals, the column encourages inclusive celebrations that contribute to staff satisfaction, retention, and a positive workplace atmosphere.