Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 3 of 3
Full-Text Articles in Law
Of Bodies Politic And Pecuniary: A Brief History Of Corporate Purpose, David B. Guenther
Of Bodies Politic And Pecuniary: A Brief History Of Corporate Purpose, David B. Guenther
Michigan Business & Entrepreneurial Law Review
American corporate law has long drawn a bright line between for-profit and non-profit corporations. In recent years, hybrid or social enterprises have increasingly put this bright-line distinction to the test. This Article asks what we can learn about the purpose of the American business corporation by examining its history and development in the United States in its formative period from roughly 1780-1860. This brief history of corporate purpose suggests that the duty to maximize profits in the for-profit corporation is a relatively recent development. Historically, the American business corporation grew out of an earlier form of corporation that was neither …
The Pharma Barons: Corporate Law's Dangerous New Race To The Bottom In The Pharmaceutical Industry, Eugene Mccarthy
The Pharma Barons: Corporate Law's Dangerous New Race To The Bottom In The Pharmaceutical Industry, Eugene Mccarthy
Michigan Business & Entrepreneurial Law Review
In this Article, I argue that drug companies have created a highly profitable but dangerous business model by employing the same legal tactics as the nineteenth-century “robber barons,” the group of financiers who orchestrated corporate law’s infamous race to the bottom. Like these historical financiers, drug company executives have captured the legal apparatus and regulatory bodies that oversee them. In so doing, they have transformed the law from a system of governance into a set of enabling doctrines. The pharmaceutical industry has turned legislation intended to protect the public into a legal justification for marketing ineffective and unsafe prescription drugs. …
Proposed Regulatory Change Of Treatment Of A Guaranteed Payment From A Partnership To A Partner, Douglas A. Kahn
Proposed Regulatory Change Of Treatment Of A Guaranteed Payment From A Partnership To A Partner, Douglas A. Kahn
Michigan Business & Entrepreneurial Law Review
A partnership pays no federal income tax. Instead, its income, deductions, and credits are allocated among its partners at the end of its taxable year. A partnership’s distribution of cash or property in kind to a partner will be characterized as one of three distinct transactions, each of which has its own tax consequences.