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Insource The Shareholding Of Outsourced Employees: A Global Stock Ownership Plan, Robert C. Hockett Dec 2014

Insource The Shareholding Of Outsourced Employees: A Global Stock Ownership Plan, Robert C. Hockett

Robert C. Hockett

With the American economy stalled and another federal election campaign season well underway, the “outsourcing” of American jobs is again on the public agenda. Latest figures indicate not only that claims for joblessness benefits are up, but also that the rate of American job-exportation has more than doubled since the last electoral cycle. This year’s political candidates have been quick to take note. In consequence, more than at any time since the early 1990s, continued American participation in the World Trade Organization, in the North American Free Trade Agreement, and in the processes of global economic integration more generally appear …


The Macroprudential Turn: From Institutional “Safety And Soundness” To “Systemic Stability” In Financial Supervision, Robert C. Hockett Dec 2014

The Macroprudential Turn: From Institutional “Safety And Soundness” To “Systemic Stability” In Financial Supervision, Robert C. Hockett

Robert C. Hockett

This Working Paper is no longer available. The published version of this article is available at: http://scholarship.law.cornell.edu/facpub/1405/ Since the global financial dramas of 2008-09, authorities on financial regulation have come increasingly to counsel the inclusion of macroprudential policy instruments in the standard ‘toolkit’ of finance-regulatory measures employed by financial supervisors. The hallmark of this perspective is its focus not simply on the safety and soundness of individual financial institutions, as is characteristic of the traditional ‘microprudential’ perspective, but also on certain structural features of financial systems that can imperil such systems as wholes. Systemic ‘financial stability’ thus comes to supplement, …


Sociedades Anónimas Unipersonales, Carlos Molina Sandoval Dec 2014

Sociedades Anónimas Unipersonales, Carlos Molina Sandoval

Carlos Molina Sandoval

La LGS incorpora las sociedades anonimas unipersonales. Atento que se trata de una sociedad con un órgano de gobierno singular, pero con órganos de administración y fiscalización pluripersonales (a diferencia de las sociedades anónimas pequeñas en las que la unipersonalidad está en el directorio, pero no en la asamblea, más allá de que muchas veces la pluripersonalidad es simbólica). Por ello, podríamos decir que esta clase de sociedades está pensada para las grandes compañías y no para las sociedades familiares.


Corporate America Fights Back: The Battle Over Waiver Of The Attorney-Client Privilege, Michael L. Seigel Dec 2014

Corporate America Fights Back: The Battle Over Waiver Of The Attorney-Client Privilege, Michael L. Seigel

Michael L Seigel

This Article addresses a topic that is the subject of an on-going and heated contest between the business lobby and its lawyers, on the one side, and the U.S. Department of Justice on the other. The fight is over federal prosecutors' escalating practice of requesting that corporations accused of criminal wrongdoing waive their attorney-client privilege as part of their cooperation with the government. The Department of Justice views privilege waiver as a legitimate and critical tool in its post-Enron battle against white collar crime. The business lobby views it as encroaching on corporations' fundamental right to protect confidential attorney-client communications. …


Competition Policy And Comparative Corporate Governance Of State-Owned Enterprises, D. Daniel Sokol Nov 2014

Competition Policy And Comparative Corporate Governance Of State-Owned Enterprises, D. Daniel Sokol

D. Daniel Sokol

The legal origins literature overlooks a key area of corporate governance-the governance of state-owned enterprises ("SOEs"). There are key theoretical differences between SOEs and publicly-traded corporations. In comparing the differences of both internal and external controls of SOEs, none of the existing legal origins allow for effective corporate governance monitoring. Because of the difficulties of undertaking a cross-country quantitative review of the governance of SOEs, this Article examines, through a series of case studies, SOE governance issues among postal providers. The examination of postal firms supports the larger theoretical claim about the weaknesses of SOE governance across legal origins. In …


The Lessons From Libor For Detection And Deterrence Of Cartel Wrongdoing, Rosa M. Abrantes-Metz, D. Daniel Sokol Nov 2014

The Lessons From Libor For Detection And Deterrence Of Cartel Wrongdoing, Rosa M. Abrantes-Metz, D. Daniel Sokol

D. Daniel Sokol

In late June 2012, Barclays entered into a $453 million settlement with UK and U.S. regulators due to its manipulation of Libor between 2005 and 2009. Among the agencies that investigated Barclays is the Department of Justice Antitrust Division (as well as other antitrust authorities and regulatory agencies from around the world). Participation in a price fixing conduct, by its very nature, requires the involvement of more than one firm. We are cautious to draw overly broad conclusions until more facts come out in the public domain. What we note at this time, based on public information, is that the …


Standard Oil And U.S. Steel: Predation And Collusion In The Law Of Monopolization And Mergers, William H. Page Nov 2014

Standard Oil And U.S. Steel: Predation And Collusion In The Law Of Monopolization And Mergers, William H. Page

William H. Page

The Supreme Court’s 1911 decision in Standard Oil gave us embryonic versions of two foundational standards of liability under the Sherman Act: the rule of reason under Section 1 and the monopoly power/exclusionary conduct test under Section 2. But a case filed later in 1911, United States v. United States Steel Corporation, shaped the understanding of Standard Oil’s standards of liability for decades. U.S. Steel, eventually decided by the Supreme Court in 1920, upheld the 1901 merger that created "the Corporation," as U.S. Steel was known. The majority found that the efforts of the Corporation and its rivals to control …


Who Sits On Texas Corporate Boards? Texas Corporate Directors: Who They Are & What They Do, Lawrence J. Trautman Nov 2014

Who Sits On Texas Corporate Boards? Texas Corporate Directors: Who They Are & What They Do, Lawrence J. Trautman

Lawrence J. Trautman Sr.

Corporate directors play an important role in governing American business, in the capital formation process, and are fundamental to the stewardship of economic growth. Texas businesses play a disproportionately important role among the states in aggregate U.S. job creation, responsible for 37% of all net new American jobs since the post 2008-2009 recovery began. It is the job of the board of directors to govern the corporation. The duties and responsibilities of a corporate director include: the duty of care; duty of loyalty; and duty of good faith. This paper results from the author’s previously assembled biographical data for most …


The Outside Investor: Citizen Shareholders & Corporate Alienation, Anne M. Tucker Nov 2014

The Outside Investor: Citizen Shareholders & Corporate Alienation, Anne M. Tucker

Anne Tucker

This Article explores the creation and conundrum of citizen shareholders - investors who enter the securities market primarily through employer-sponsored defined-contribution plans, invest in mutual or index funds, and are saving for long-term goals like retirement. Citizen shareholders are a consequence of a retirement revolution, and are the fastest growing group of investors. Citizen shareholders are distinguishable from other shareholders on the grounds of choice, exit, and the number of intermediaries inserted into the investment chain in defined-contribution plans. They are largely missing from corporate policy and scholarship debates; few discussions have incorporated the growing reality that shareholder status has …


Your Boss’S Business? Corporate Personhood And The Supreme Court, Kent Greenfield Nov 2014

Your Boss’S Business? Corporate Personhood And The Supreme Court, Kent Greenfield

Kent Greenfield

Hobby Lobby was a dangerous decision,but because the Court ignored corporate personhood rather than endorsing it.


Justice Deferred Is Justice Denied: We Must End Our Failed Experiment In Deferring Corporate Criminal Prosecution, Peter Reilly Nov 2014

Justice Deferred Is Justice Denied: We Must End Our Failed Experiment In Deferring Corporate Criminal Prosecution, Peter Reilly

Peter R. Reilly

No abstract provided.


Praising Corporate Personhood, Kent Greenfield Nov 2014

Praising Corporate Personhood, Kent Greenfield

Kent Greenfield

Corporate personhood has wrongly developed a bad name; efforts to end corporate personhood by way of a constitutional amendment are either worthless or harmful.


Business Law Breakfast - Justice Deferred Is Justice Denied: We Must End Our Failed Experiment In Deferring Corporate Criminal Prosecution, Peter Reilly Nov 2014

Business Law Breakfast - Justice Deferred Is Justice Denied: We Must End Our Failed Experiment In Deferring Corporate Criminal Prosecution, Peter Reilly

Peter R. Reilly

No abstract provided.


Comment On The Proposed Definition Of “Eligible Organization” For Purposes Of Coverage Of Certain Preventative Services Under The Affordable Care Act, Lyman P. Q. Johnson, David K. Millon, Stephen M. Bainbridge, Ronald J. Colombo, Brett Mcdonnell, Alan J. Meese, Nathan B. Oman Nov 2014

Comment On The Proposed Definition Of “Eligible Organization” For Purposes Of Coverage Of Certain Preventative Services Under The Affordable Care Act, Lyman P. Q. Johnson, David K. Millon, Stephen M. Bainbridge, Ronald J. Colombo, Brett Mcdonnell, Alan J. Meese, Nathan B. Oman

Lyman P. Q. Johnson

In late August 2014, after suffering a defeat in the Supreme Court Hobby Lobby decision when the Court held that business corporations are “persons” that can “exercise religion,” the Department of Health and Human Services (“HHS”) proposed new rules defining “eligible organizations.” Purportedly designed to accommodate the Hobby Lobby ruling, the proposed rules do not comport with the reasoning of that important decision and they unjustifiably seek to permit only a small group of business corporations to be exempt from providing contraceptive coverage on religious grounds. This comment letter to the HHS about its proposed rules makes several theoretical and …


Comment On The Proposed Definition Of “Eligible Organization” For Purposes Of Coverage Of Certain Preventative Services Under The Affordable Care Act, Lyman P. Q. Johnson, David K. Millon, Stephen M. Bainbridge, Ronald J. Colombo, Brett Mcdonnell, Alan J. Meese, Nathan B. Oman Nov 2014

Comment On The Proposed Definition Of “Eligible Organization” For Purposes Of Coverage Of Certain Preventative Services Under The Affordable Care Act, Lyman P. Q. Johnson, David K. Millon, Stephen M. Bainbridge, Ronald J. Colombo, Brett Mcdonnell, Alan J. Meese, Nathan B. Oman

David K. Millon

In late August 2014, after suffering a defeat in the Supreme Court Hobby Lobby decision when the Court held that business corporations are “persons” that can “exercise religion,” the Department of Health and Human Services (“HHS”) proposed new rules defining “eligible organizations.” Purportedly designed to accommodate the Hobby Lobby ruling, the proposed rules do not comport with the reasoning of that important decision and they unjustifiably seek to permit only a small group of business corporations to be exempt from providing contraceptive coverage on religious grounds. This comment letter to the HHS about its proposed rules makes several theoretical and …


The Still-Dwindled Revlon, Lyman P.Q. Johnson, Robert Ricca Nov 2014

The Still-Dwindled Revlon, Lyman P.Q. Johnson, Robert Ricca

Lyman P. Q. Johnson

This is a brief Response to Professor Mohsen Manesh’s extensive response to our original article, The Dwindling of Revlon. Our thesis is that today the iconic Revlon doctrine is, remedially, quite substantially diminished. Although Professor Manesh sets out to establish what he calls “the limits of Johnson’s and Ricca’s thesis,” we here maintain, as before, that there is little remedial clout to Revlon unless directors or others very significantly misbehave. We also criticize Delaware’s continuing use of the standard-of-conduct/standard-of-review construct in the fiduciary duty area. This rubric is unhelpful generally and strikingly so in the Revlon setting, as we note.


The (Un)Enforcement Of Corporate Officers' Duties, Megan Wischmeier Shaner Oct 2014

The (Un)Enforcement Of Corporate Officers' Duties, Megan Wischmeier Shaner

Megan Wischmeier Shaner

No abstract provided.


Teoría General De Los Signos Distintivos, Juan Carlos Riofrío Martínez-Villalba Oct 2014

Teoría General De Los Signos Distintivos, Juan Carlos Riofrío Martínez-Villalba

Juan Carlos Riofrío Martínez-Villalba

La presente investigación delinea de forma sistemática una teoría general para todo género de signos distintivos. Para este propósito se vale de las investigaciones parciales que la propiedad industrial y otras ramas del derecho han realizado de algunos signos distintivos particulares, como las marcas, las indicaciones geográficas, los sellos de calidad, los nombres de pila, los nombres comerciales, entre otros. Se usa un método inductivo que recoge leyes, jurisprudencia y doctrina de varios lugares del mundo. En cuanto a la estructura, luego de una introducción, se determinar cuál es el conjunto de los signos distintivos que será el universo a …


Corporate Citizenship: Goal Or Fear?, Kent Greenfield Oct 2014

Corporate Citizenship: Goal Or Fear?, Kent Greenfield

Kent Greenfield

Progressives should oppose a constitutional amendment to end corporate personhood.


The Short Road Home From Delaware: Boilermakers Local 154 Retirement Fund V. Chevron, Anne Tucker Oct 2014

The Short Road Home From Delaware: Boilermakers Local 154 Retirement Fund V. Chevron, Anne Tucker

Anne Tucker

One of the biggest Delaware Supreme Court cases of 2013 wasn’t. The Delaware Court of Chancery opinion in Boilermakers Local 154 Retirement Fund v. Chevron Corp., upheld the enforceability of Delaware forum selection clause bylaws unilaterally adopted by corporate boards of directors. It was widely expected that the Delaware Supreme Court would uphold the Court of Chancery’s opinion. However, Plaintiffs dismissed their appeal and moved to dismiss their remaining claims in the Court of Chancery, leaving intact Chancellor Strine’s strong support of forum selection clauses. National Industries Group (Holding) v. Carlyle Investment Managements L.L.C. and TC Group, L.L.C., a 2013 …


Who's The Boss? Unmasking Oversight Liability Within The Corporate Power Puzzle, Anne Tucker Oct 2014

Who's The Boss? Unmasking Oversight Liability Within The Corporate Power Puzzle, Anne Tucker

Anne Tucker

This article explores the competing interests between director authority and accountability within the doctrinal developments underpinning the arguments for and against director oversight liability. The historic losses suffered by companies entangled in the web of subprime mortgages, collateralized debt holdings, and the ensuing credit crisis have brought the role of corporate directors as risk managers under renewed public scrutiny. Directors' authority and their accountability to shareholders are two critical pieces to striking the appropriate balance among the roles, rights, and responsibilities of directors, officers, shareholders, and other corporate constituencies who operate within the corporate power puzzle. Numerous shareholder derivative suits …


The Citizen Shareholder: Modernizing The Agency Paradigm To Reflect How And Why A Majority Of Americans Invest In The Market, Anne Tucker Oct 2014

The Citizen Shareholder: Modernizing The Agency Paradigm To Reflect How And Why A Majority Of Americans Invest In The Market, Anne Tucker

Anne Tucker

This Article examines corporate law from the perspective of personal investment and discusses the economic realities of modern investments in order to understand the role of shareholders within the agency paradigm. Corporate law, its scholars, and suggested reforms traditionally focus on the internal organization of the corporation. For example, agency principles inform corporate law by acknowledging a potential conflict of interest between the managers and shareholders of a corporation. Reforms such as increased shareholder voting rights and proxy access, which seek to give shareholders a more direct means to make their interests known to managers, illustrate corporate law’s focus on …


Stock Transfer Restrictions In Close Corporations, William Gregory Oct 2014

Stock Transfer Restrictions In Close Corporations, William Gregory

William A. Gregory

No abstract provided.


Handbook On The Law Of Agency And Partnership, Harold Reuschlein, William Gregory Oct 2014

Handbook On The Law Of Agency And Partnership, Harold Reuschlein, William Gregory

William A. Gregory

No abstract provided.


Cases And Materials On Agency And Partnership And Other Forms Of Business Associations, William Gregory, Thomas Hurst Oct 2014

Cases And Materials On Agency And Partnership And Other Forms Of Business Associations, William Gregory, Thomas Hurst

William A. Gregory

No abstract provided.


The Law Of Agency And Partnership: Student Edition, Harold Reuschlein, William Gregory Oct 2014

The Law Of Agency And Partnership: Student Edition, Harold Reuschlein, William Gregory

William A. Gregory

No abstract provided.


The Law Of Agency And Partnership, Harold Reuschlein, William Gregory Oct 2014

The Law Of Agency And Partnership, Harold Reuschlein, William Gregory

William A. Gregory

No abstract provided.


Unincorporated Business Associations, Including Agency, Partnership, And Limited Liability Companies: Cases And Materials, William Gregory, Thomas Hurst Oct 2014

Unincorporated Business Associations, Including Agency, Partnership, And Limited Liability Companies: Cases And Materials, William Gregory, Thomas Hurst

William A. Gregory

No abstract provided.


Financial Provisions Of The Revised Uniform Limited Partnership Act: Articles 5 And 6, William Gregory Oct 2014

Financial Provisions Of The Revised Uniform Limited Partnership Act: Articles 5 And 6, William Gregory

William A. Gregory

No abstract provided.


Cases And Materials On Corporations, Thomas Hurst, William Gregory Oct 2014

Cases And Materials On Corporations, Thomas Hurst, William Gregory

William A. Gregory

No abstract provided.