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Full-Text Articles in Law
High-Frequency Trading: Should Regulators Do More, Matt Prewitt
High-Frequency Trading: Should Regulators Do More, Matt Prewitt
Michigan Telecommunications & Technology Law Review
High-Frequency Trading ("HFT") is a diverse set of algorithmic trading strategies characterized by fast order execution. Its importance in international markets has increased vastly in recent years. From a regulatory perspective, HFT presents difficult and partially unresolved questions. The difficulties stem partly from the fact that HFT encompasses a wide range of trading strategies, and partly from a dearth of unambiguous empirical findings about HFT's effects on markets. Yet certain important conclusions are broadly accepted. HFT can increase systemic risk by causing or exacerbating events like the "Flash Crash" of May 6, 2010. HFT can also enable market manipulators to …
Optimal Fines For False Patent Marking, Thomas F. Cotter
Optimal Fines For False Patent Marking, Thomas F. Cotter
Michigan Telecommunications & Technology Law Review
This Essay proposes that, in order to avoid imposing arbitrary (and perhaps unnecessarily large) fines for false patent marking, courts should seek guidance in the law of remedies for false advertising and copyright infringement. In particular, courts should attempt to approximate the social harm caused by actionable false marking by taking into account (1) the plaintiff's loss (if any) and the defendant's gain (if any) attributable to the false marking at issue; (2) the plausibility of substantial but less easily quantifiable harms to consumers and to nonparty competitors; and (3) the risks, on the one hand, of underdeterring statutory violations …
Improving Post-Approval Risk Surveillance For Drugs: Active Post-Market Risk Identification, Matthew Gordon
Improving Post-Approval Risk Surveillance For Drugs: Active Post-Market Risk Identification, Matthew Gordon
Michigan Telecommunications & Technology Law Review
Pre-approval clinical trials cannot possibly ensure that a drug will not have disastrous side effects once it arrives on the market. Post-approval drug safety data gathering was put in place to address this problem, but as implemented, it has not proven to be as effective as hoped. Congress recently overhauled the legislation regarding post-approval drug risk identification, and in doing so made a deliberate decision to put much of the burden of post-approval drug surveillance on the FDA through data mining. Further, the legislation gave the FDA the power to require post-approval clinical trials from drug makers only in limited …
Technology Wars: The Failure Of Democratic Discourse, Gregory N. Mandel
Technology Wars: The Failure Of Democratic Discourse, Gregory N. Mandel
Michigan Telecommunications & Technology Law Review
Conflicts over the use and regulation of various technologies pervade public discourse and have dramatic implications for the public interest. Controversies over the regulation of genetically modified products, nuclear power, and nanotechnology, among others, provoke some of the most socially and politically volatile debates of our time. These technology conflicts extract a substantial price from society--they create costly inefficiencies, prevent society from optimally managing new technologies, consume vast resources, and retard technological growth. This Article develops a framework for understanding technology controversies, and consequently proposes new means for resolving or ameliorating a variety of seemingly intractable legal and regulatory standoffs. …
Snake-Oil Security Claims The Systematic Misrepresentation Of Product Security In The E-Commerce Arena, John R. Michener, Steven D. Mohan, James B. Astrachan, David R. Hale
Snake-Oil Security Claims The Systematic Misrepresentation Of Product Security In The E-Commerce Arena, John R. Michener, Steven D. Mohan, James B. Astrachan, David R. Hale
Michigan Telecommunications & Technology Law Review
The modern commercial systems and software industry in the United States have grown up in a snake-oil salesman's paradise. The largest sector of this industry by far is composed of standard commercial systems that are marketed to provide specified functionality (e.g. Internet web server, firewall, router, etc.) Such products are generally provided with a blanket disclaimer stating that the purchaser must evaluate the suitability of the product for use, and that the user assumes all liability for product behavior. In general, users cannot evaluate and cannot be expected to evaluate the security claims of a product. The ability to analyze …
Performance Risk, Form Contracts And Ucita, Leo L. Clarke
Performance Risk, Form Contracts And Ucita, Leo L. Clarke
Michigan Telecommunications & Technology Law Review
No scholarly commentator has suggested that the form contract rules provide a satisfactory answer to the commercial problem of performance risk. So, one might think that the dawn of the "information economy" would be a propitious time to implement a new doctrinal approach. Apparently not: the National Conference of Commissioners on Uniform State Laws (the "Conference") has promulgated a comprehensive commercial statute that fails to remedy or even modify the law of form contracts in purely commercial transactions. The Uniform Computer Information Transactions Act ("UCITA")--drafted to provide the background law for many of the most significant transactions in the information …