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The Journal of Business, Entrepreneurship & the Law

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Trends In Fashion Law: Striking The Proper Balance Between Protecting The Art Form And Sustaining A Thriving Online Market, Elisabeth Johnson Dec 2018

Trends In Fashion Law: Striking The Proper Balance Between Protecting The Art Form And Sustaining A Thriving Online Market, Elisabeth Johnson

The Journal of Business, Entrepreneurship & the Law

No abstract provided.


Implementing A Portable Reciprocity Passport To Crowdfund Real Estate Across Borders, Raymond Tran Dec 2018

Implementing A Portable Reciprocity Passport To Crowdfund Real Estate Across Borders, Raymond Tran

The Journal of Business, Entrepreneurship & the Law

No abstract provided.


"Flaw-Backs:" Executive Compensation Clawbacks And Their Costly Flaw, Connor Douglas Maag Dec 2018

"Flaw-Backs:" Executive Compensation Clawbacks And Their Costly Flaw, Connor Douglas Maag

The Journal of Business, Entrepreneurship & the Law

Saving money should not be expensive. Compensation “clawbacks” are a legal mechanism for companies to reclaim employee compensation, but the legislative framework is complex and disorganized. There are four primary federal claw-back provisions: Sarbanes-Oxley § 304, Dodd-Frank § 954, 12 U.S.C.A. § 5221(TARP), and Dodd-Frank § 956—as well as voluntary contractual clawback policies. This comment untangles the web of clawback legislation by overlaying each clawback mechanism to extract a single, clear, and concise description of executive compensation clawbacks, called the “Comprehensive Clawback Coverage.” The Comprehensive Clawback Coverage reveals a major flaw in the legal and regulatory framework: clawbacks increase agency …


Failed Anti-Activist Legislation: The Curious Case Of The Brokaw Act, Alon Brav, J.B. Heaton, Jonathan Zandberg Dec 2018

Failed Anti-Activist Legislation: The Curious Case Of The Brokaw Act, Alon Brav, J.B. Heaton, Jonathan Zandberg

The Journal of Business, Entrepreneurship & the Law

The Brokaw Act was proposed legislation aimed at “financial abuses being carried out by activist hedge funds who promote short-term gains at the expense of long-term growth . . . .” Sponsoring Senators named it after a small town in Wisconsin that, according to the Act’s sponsors, was decimated by the actions of a hedge fund activist in shutting down the local paper mill with a loss of hundreds of jobs. The Brokaw Act represented the first attempt at federal legislation aimed at restricting hedge fund activism. Since then, new and similar bipartisan proposals have appeared as have threats of …


Integrating Machine Learning In Law: A Precis Of Best Practices For Initial Law Firm Adoption, J. Mark Phillips Dec 2018

Integrating Machine Learning In Law: A Precis Of Best Practices For Initial Law Firm Adoption, J. Mark Phillips

The Journal of Business, Entrepreneurship & the Law

Much of the mystery surrounding machine learning lays not just in how it functions, but in how it is applied. This is especially true in the field of law, where the implementation of artificial intelligence has lagged other fields. This précis distills best practices of machine learning implementation and applies them succinctly to the unique environment of law. Guiding principles and considerations are provided for the technology team, the nature of law firm data, and the commitment level of the adopting law firm.


The Infinite Legal Acumen Of An Artificial Mind: How Machine Learning Can Permanently Capture Legal Expertise And Optimize The Law Firm Pyramid, J. Mark Phillips Dec 2018

The Infinite Legal Acumen Of An Artificial Mind: How Machine Learning Can Permanently Capture Legal Expertise And Optimize The Law Firm Pyramid, J. Mark Phillips

The Journal of Business, Entrepreneurship & the Law

As the legal industry gradually integrates artificial intelligence (AI) into its practice, the underlying technology continues to advance at a fever pitch. Machine learning platforms arguably represent the pinnacle of AI development, and this technology currently augments and replicates intelligent human tasks in ways never before conceived. The business applications of machine learning are bearing fruit across a spectrum of industries and professions. Yet despite machine learning’s demonstrated promise, its forays into the legal industry have been uneven. In fact, the most advanced forms of machine learning have been relegated primarily to lower-level attorney tasks such as e-discovery, due-diligence, and …


Curb Your Enthusiasm: The Real Implications Of Blockchain In The Legal Industry, Justin Evans Dec 2018

Curb Your Enthusiasm: The Real Implications Of Blockchain In The Legal Industry, Justin Evans

The Journal of Business, Entrepreneurship & the Law

No abstract provided.


Recent Developments Concerning The Purchase Of Consumer Debt; Defining Potential Problems And Proposals For Suggested Solutions, Gerald A. Williams Dec 2018

Recent Developments Concerning The Purchase Of Consumer Debt; Defining Potential Problems And Proposals For Suggested Solutions, Gerald A. Williams

The Journal of Business, Entrepreneurship & the Law

No abstract provided.


The European Aspects Of Global Financial Developments, Virag Ilona Blazsek Mar 2018

The European Aspects Of Global Financial Developments, Virag Ilona Blazsek

The Journal of Business, Entrepreneurship & the Law

What is the position of Europe—and specifically the European Union (EU)—on the world map of global finances in 2017? This comment seeks to answer this question by focusing on three key issues. First, it analyzes Europe’s post-2008 bank bailouts, its sector-wide rescue packages, and its consequential sovereign-debt crisis. Second, it considers the role of the international credit rating agencies and asks why Europe does not have a large rating agency of its own. Third, it assesses the EU’s major recent regulatory developments related to the financial sector. There is no doubt that Europe is in a sustained economic and political …


Definite Indefiniteness Of "Molecular Weight" As A Claim Term For Polymer-Related Patents, Ping-Hsun Chen Mar 2018

Definite Indefiniteness Of "Molecular Weight" As A Claim Term For Polymer-Related Patents, Ping-Hsun Chen

The Journal of Business, Entrepreneurship & the Law

The molecular weight of a polymer is not just a number for a single molecule. In fact, molecular weight measurement is based on a large volume of molecules of the same polymer. Due to the non-uniformity of molecular weights, there are several methods to measure an “average molecular weight” of a polymer. Unfortunately, the Federal Circuit in Teva Pharms. USA, Inc. v. Sandoz, Inc., 789 F.3d 1335 (Fed. Cir. 2015), held that the term “molecular weight” in several polymer claims was indefinite, because the term could mean either peak average molecular weight, number average molecular weight, or weight average molecular …


Convergence And Divergence Between International Investments Law And Human Rights Law, In The Context Of The Greek Sovereign Debt Restructuring, Venetia Argyropoulou Mar 2018

Convergence And Divergence Between International Investments Law And Human Rights Law, In The Context Of The Greek Sovereign Debt Restructuring, Venetia Argyropoulou

The Journal of Business, Entrepreneurship & the Law

International investment law developed separately from and was, for a long period, perceived as incompatible with human rights law. Despite the tendency to distinguish the evolution of these two fields of international law, however, they are not completely dissimilar. Inter alia, they both aim to safeguard investors’ rights to property, to promote respect for due process, and to address the undisputed position of power of the state against the individual. In situations of sovereign default, the asymmetry between the powers of the state and the rights of investors is even more clearly demonstrated, even within the European Union. Indeed, although …


The Oil & Gas Industry: Failing To Properly Regulate Hydraulic Fracturing & Placing Profits Over Safety, Ellery Gordon Mar 2018

The Oil & Gas Industry: Failing To Properly Regulate Hydraulic Fracturing & Placing Profits Over Safety, Ellery Gordon

The Journal of Business, Entrepreneurship & the Law

This Note will evaluate the regulations and environmental implications surrounding hydraulic fracturing, or “fracking,” on state, federal, and Indian lands, focusing on the recent and still undecided case of Wyoming v. United States Dep’t of the Interior. Additionally, it will address the regulatory gap in federal regulations governing hydraulic fracturing, the current issues the industry faces, and advocate for a more stringent set of regulations that ought to be applied on a uniform basis throughout the United States. In the aforementioned case, Wyoming, Colorado, North Dakota, Utah, and the Ute Indian Tribe brought suit against the Bureau of Land Management …


A New Deal For Europe? The Commerce Clause As The Solution To Tax Discrimination And Double Taxation In The European Union, Charles Edward Andrew Lincoln Iv Mar 2018

A New Deal For Europe? The Commerce Clause As The Solution To Tax Discrimination And Double Taxation In The European Union, Charles Edward Andrew Lincoln Iv

The Journal of Business, Entrepreneurship & the Law

No abstract provided.


Steering (Or Not) Through The Social And Legal Implications Of Autonomous Vehicles, Melissa L. Griffin Mar 2018

Steering (Or Not) Through The Social And Legal Implications Of Autonomous Vehicles, Melissa L. Griffin

The Journal of Business, Entrepreneurship & the Law

No abstract provided.


Mapping Legalzoom's Disruptive Innovation, Matthew T. Ciulla Mar 2018

Mapping Legalzoom's Disruptive Innovation, Matthew T. Ciulla

The Journal of Business, Entrepreneurship & the Law

No abstract provided.


The Rise Of Artificial Intelligence In The Legal Field: Where We Are And Where We Are Going, Sergio David Becerra Mar 2018

The Rise Of Artificial Intelligence In The Legal Field: Where We Are And Where We Are Going, Sergio David Becerra

The Journal of Business, Entrepreneurship & the Law

The twenty-first century has brought significant technological advancement that permeates all aspects of our lives. The legal field, though slow in the adaption of this technology, is beginning to pick up the pace. Artificial Intelligence (AI) technology is used now to perform legal work once completed solely by legal practitioners. This Comment outlines what AI is and reviews the current use of AI in the legal field. It also identifies AI products and developments that are in place. Finally, it argues that lawyers will always be needed in the practice of law, despite the continued growth of AI.


Entire Fairness: A Call To Preserve Delaware Doctrine, Lisa Bei Li Mar 2018

Entire Fairness: A Call To Preserve Delaware Doctrine, Lisa Bei Li

The Journal of Business, Entrepreneurship & the Law

Appraisal arbitrage is on the rise. Institutional investors—namely, hedge funds—buy into target companies after their merger announcements and bet on the price. By purposely taking a minority position, these funds proceed to courts to obtain what they otherwise could not in the market: a “fair value.” Where there is no allegation of wrongdoing or injury, these plaintiffs nonetheless successfully divert deal value away from business combinations. Based on a misunderstood statute, appraisal arbitrage has exploded into a multi-billion dollar industry for large fund investors. In June 2016, amid growing concerns, the Delaware General Assembly amended section 262, Delaware’s appraisal statute. …


To Be Creditor Or To Be Shareholder, That Is The Question: Is The Debt-For-Equity Swap Creditors’ Financial Suicide?, Jongho Kim Dec 2017

To Be Creditor Or To Be Shareholder, That Is The Question: Is The Debt-For-Equity Swap Creditors’ Financial Suicide?, Jongho Kim

The Journal of Business, Entrepreneurship & the Law

This Article deals with debt-for-equity swap-related issues in Korean corporate restructuring procedures. Debt-for-equity swaps were widely employed during the Latin American foreign debt restructuring process, but the Korean case is slightly different. Because the creditors of reorganizing corporations are mainly Korean domestic financial institutions rather than foreign creditors, this type of financial scheme is applied under local law. The following examines the legal aspects of debt-for-equity swaps, which have been promoted as a way to eliminate excessive insolvent loans and financial debts (and stood in the way of restructuring, via IMF bail-out funds). It also discusses how a debt-for-equity swap …


Consent Decrees In The Streaming Era: Digital Withdrawal, Fractional Licensing, And § 114(I), Steven J. Gagliano Jul 2017

Consent Decrees In The Streaming Era: Digital Withdrawal, Fractional Licensing, And § 114(I), Steven J. Gagliano

The Journal of Business, Entrepreneurship & the Law

Clear disagreement exists about how best to reconcile the copyright protections afforded to songwriters with the antitrust considerations protecting consumers. Songwriter public performance royalty collections account for over $2 billion in annual U.S. revenue, roughly 90% of which is collected by the American Society of Composers, Authors and Publishers (ASCAP) and Broadcast Music, Inc. (BMI). ASCAP and BMI are performance rights organizations (PROs) regulated by seventy-five-year-old consent decrees. After the Second Circuit determined that these consent decrees prohibit music publishers from selectively withdrawing their new media rights from ASCAP and BMI to directly negotiating with new media services, the PROs …


Discretion To Act: How The Federal Reserve's Decisions Whether To Provide Emergency Loans During The Financial Crisis Were Discretionary And Why Dodd-Frank Falls Short Of Preventing Future Bailouts, John De Vito Jul 2017

Discretion To Act: How The Federal Reserve's Decisions Whether To Provide Emergency Loans During The Financial Crisis Were Discretionary And Why Dodd-Frank Falls Short Of Preventing Future Bailouts, John De Vito

The Journal of Business, Entrepreneurship & the Law

The housing market crash of 2007–2008 threatened to cause the collapse of the United States and global economies. By early 2008, Bear Stearns, Lehman Brothers, and American International Group all faced the strong possibility of bankruptcy absent government intervention. The Federal Reserve Board of Governors activated its emergency lending powers pursuant to Section 13(3) of the Federal Reserve Act to “bail out” Bear Stearns and American International Group, but elected to let Lehman Brothers fail. Lehman’s bankruptcy led to a run on money market mutual funds, made it impossible for corporations to raise capital, led to widespread layoffs across economic …


Film Piracy: Surfing The Internet For Free Content Provides Little Bounty For The Collective Economy, Jordan Matthews Jul 2017

Film Piracy: Surfing The Internet For Free Content Provides Little Bounty For The Collective Economy, Jordan Matthews

The Journal of Business, Entrepreneurship & the Law

This Note focuses on the protection of a copyright holder against infringement in the form of film piracy. It centers on the recent litigation surrounding Dallas Buyers Club, a biographical film articulating the life and events surrounding an AIDS patient, diagnosed in the mid-1980s, who pursued experimental treatments by smuggling pharmaceuticals into the United States. In 2013, more than 4,700 Australian Internet users allegedly downloaded the film within the span of one month. In August of 2015, an Australian federal court declared that the studio behind the film would need to post a $600,000 bond before it could send letters …


The Perfect Storm Is Brewing Once Again: What Scaling Back Dodd-Frank Will Mean For The Credit Default Swap, Daniel Isaacson Jul 2017

The Perfect Storm Is Brewing Once Again: What Scaling Back Dodd-Frank Will Mean For The Credit Default Swap, Daniel Isaacson

The Journal of Business, Entrepreneurship & the Law

The current presidential administration has expressed a concerted desire to “scale back” and even “get rid of” the Dodd–Frank Wall Street Reform and Consumer Protection Act (Dodd–Frank). Focusing specifically on Dodd–Frank’s regulation of the credit default swap (CDS), this Article explores two timely queries. First, whether Dodd–Frank’s regulatory response to these financial instruments is a justifiable one, and second, what effect a repeal may have. This Article will show that the “perfect storm” CDS—which contributed so significantly to the 2007–2010 financial crisis—flourished in a regulatory environment that contained two key weaknesses: (1) few restrictions on excessive speculation; and (2) the …


A Tale Of Tulips: A Counterpoint To Courts Codifying Collectibles, Hunter S. Higgins Jul 2017

A Tale Of Tulips: A Counterpoint To Courts Codifying Collectibles, Hunter S. Higgins

The Journal of Business, Entrepreneurship & the Law

The goal of this Note is to educate the courts and public of the patent inconsistencies and latent implications of judicial interference in the art and collectibles market, as prosecutors, judges, and the public risk unraveling the delicate fabric of its legal and economic framework. Part II of the Note will closely examine the economics of the art and collectibles marketplace, from internal changes at the auction house to external changes in the global marketplace. In particular, the Note will examine the Asian marketplace, which has led the global expansion of art and collectibles, and the potential dangers of the …


Let The State Decide: The Efficient Antitrust Enforcer And The Avoidance Of Anticompetitive Remedies, Andrew J. Fuller Jul 2017

Let The State Decide: The Efficient Antitrust Enforcer And The Avoidance Of Anticompetitive Remedies, Andrew J. Fuller

The Journal of Business, Entrepreneurship & the Law

If the antitrust remedy a private party pursues would likely have anticompetitive consequences, would only the government constitute an efficient enforcer of the antitrust laws? Imagine that a plaintiff sues for a remedy so large that the award of the remedy would meaningfully increase market concentration by sending the defendants into bankruptcy. Is such a plaintiff an efficient enforcer of the antitrust laws? Should courts hold that in this situation only the government should be able to challenge the alleged conduct? These questions have gone unaddressed in academic literature because litigation rarely raises the specter of the anticompetitive remedy. Recently, …


Is The Ncaa Finally Loosening Its Iron Grip On College Basketball By Allowing Underclassmen The Opportunity To Return To College After Declaring For The Nba Draft?, Neil Patel Jun 2017

Is The Ncaa Finally Loosening Its Iron Grip On College Basketball By Allowing Underclassmen The Opportunity To Return To College After Declaring For The Nba Draft?, Neil Patel

The Journal of Business, Entrepreneurship & the Law

The National Collegiate Athletic Association (NCAA) Oversight Committee has proposed a new rule that allows undergraduate college basketball players to reject the National Basketball Association (NBA) and return to school after they have submitted their name for the draft. This rule represents a great change in the policies that regulate college sports, specifically college basketball. The NCAA has ruled college basketball with an iron fist, but with this new proposal, it seems that it is beginning to help our college athletes sustain some semblance of a normal life after their playing days are over. Importantly, the rule is merely a …


The World Wide Web Extension: From Dot-Com To Dot ...Everything, Alexa Halloran Jun 2017

The World Wide Web Extension: From Dot-Com To Dot ...Everything, Alexa Halloran

The Journal of Business, Entrepreneurship & the Law

Today businesses are facing a new Internet dilemma. The Internet Corporation for Assigned Names and Numbers (ICANN) recently granted the public the opportunity to operate and register domain names under a plethora of generic domain extensions. Although no one knows exactly what this new program’s effect will be, the buzz around it informs business owners of a renewed need for innovation. And who is at the forefront of this new era of technology? Internet powerhouses like Google and Amazon, and worldwide investors are gambling on the success of this new program. Only one thing is certain, no company wants to …


To Be A "Whistleblower," Or Not To Be A "Whistleblower? " That Is The Question-Whether 'Tis Nobler In The Mind Of The Courts To Suffer For Reporting Wrongdoing To The Sec Or Employers Internally: Examining The Recent Circuit Split Regarding The Definition Of A Whistleblower Under Dodd-Frank, Luke I. Landers Jun 2017

To Be A "Whistleblower," Or Not To Be A "Whistleblower? " That Is The Question-Whether 'Tis Nobler In The Mind Of The Courts To Suffer For Reporting Wrongdoing To The Sec Or Employers Internally: Examining The Recent Circuit Split Regarding The Definition Of A Whistleblower Under Dodd-Frank, Luke I. Landers

The Journal of Business, Entrepreneurship & the Law

Under the current state of the law, the circuit courts are split over whether an employee must report corporate wrongdoing directly to the Securities and Exchange Commission (SEC), or report wrongdoing to a company’s management in order to receive whistleblower protection under Dodd–Frank. The resolution of this circuit split not only will have implications for American employees caught in situations similar to the fiction above, but also will provide a prime opportunity for the Supreme Court to clarify how courts are to understand the interpretive and deferential relationship between the language of legislative statutes and their corresponding bureaucratic regulations. In …


Online Lenders Shouldn't Get Mad Over Madden, Benjamin Lo Jun 2017

Online Lenders Shouldn't Get Mad Over Madden, Benjamin Lo

The Journal of Business, Entrepreneurship & the Law

The Second Circuit’s surprising decision in Madden v. Midland Funding caused consternation within the financial services industry. There, the Madden Court held that the National Bank Act’s pre-emption of state usury law did not apply to consumer debt sold by banks to third parties. Under the Second Circuit’s ruling, third-party buyers could not be certain of loan values, potentially making consumer finance markets less liquid. This decision immediately sparked concerns from the alternative finance industry, which worried that the secondary market for consumer debt would dry up and reduce consumer credit availability. It also alarmed financial technology startups such as …


Regulating Moral Hazard: The True Risk Of Dodd-Frank's Risk Retention Requirement, Ethan T. Mobley Jun 2017

Regulating Moral Hazard: The True Risk Of Dodd-Frank's Risk Retention Requirement, Ethan T. Mobley

The Journal of Business, Entrepreneurship & the Law

Dodd–Frank was implemented in response to the Great Recession as a means to curb abuses on Wall Street. The Act mandated broad reform of the financial system, and in particular, required regulators to promulgate rules controlling the complex structure of Asset-Backed Security (ABS). Dodd–Frank required securitizers to retain a portion of the credit risk associated with ABS. The goal was to curb moral hazard—the market failure commonly blamed for the Financial Crisis. However, there is reason to believe Dodd–Frank may “not adequately address” the moral hazard problem. In Part I, this Article will set forth the nuts and bolts of …


The Legal Aspects Of Portfolio Margining: A Move Toward The Lsoc Model, Christian Chamorro-Courtland Jun 2017

The Legal Aspects Of Portfolio Margining: A Move Toward The Lsoc Model, Christian Chamorro-Courtland

The Journal of Business, Entrepreneurship & the Law

This Article focuses on the legal aspects of “portfolio margining” in the United States and their potential for reducing costs and facilitating the management of collateral for the participants involved. First, this Article outlines the level of protection that customer “margin” deposits receive in clearing systems using a Central Counterparty (CCP). Second, it explains the process of portfolio margining from a legal perspective and discusses the benefits of adopting these arrangements. Thirdly, it argues that adopting the “Legal Segregation and Operationally Commingled Model” (LSOC Model) in the futures industry can facilitate the implementation of portfolio margining. Finally, the conclusion explains …