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Table Of Contents

Yearbook of Antitrust and Regulatory Studies

Table of Contents

Editorial Foreword, Agata Jurkowska‑Gomułka

Yearbook of Antitrust and Regulatory Studies

No abstract provided.

Forced Arbitration In Tesla’S Consumer Contracts, Abigail Hug

Arbitration Brief

The Supreme Court has supported the FAA’s preference for enforcing arbitration clauses and has extended it to forced arbitration provisions. In DirecTV v. Imburgia, the Supreme Court upheld a mandatory arbitration clause in a consumer service agreement, which additionally prohibited class arbitration. The Court reasoned that the FAA clearly states that written provisions in contracts that mandate arbitration are enforceable as all other contracts are enforceable. Companies throughout the United States use forced arbitration for employment and consumer contracts, including those for car leases. Forced arbitration clauses in consumer contracts ensure that customers settle their disputes with a company through …

National Security Issues Arising In Anticorruption Enforcement, Anthony J. Lewis, Aisling O'Shea

American University National Security Law Brief

The overlap between national security and corruption has long been recognized; however, the government’s views on the nature of the overlap have shifted over time. For instance, in June 2021, the Biden administration announced an initiative to combat corruption as a core national security interest. The administration ordered a review by fifteen government agencies and offices, including the Central Intelligence Agency and the Office of the Director of National Intelligence. Then, in February 2025, the Trump administration declared that “overexpansive and unpredictable” enforcement of the Foreign Corrupt Practices Act of 1977 (“FCPA”) “actively harms American competitiveness and, therefore, national security.” …

Time Is Money And Anticompetitive: The Luxury Watch Industry's Weaponization Of Intellectual Property Against The Right To Repair, Isha Jadhav

American University Business Law Review

Since 2010, the Federal Trade Commission (FTC), Department of Justice (DOJ), legislators, and activists have jointly worked together to implement consumer rights in repairing personal property on both a state and federal level in the United States. These efforts have largely targeted the automobile and technology industries; these sectors have been known to “tie” their goods to authorized repair services, limiting consumer choice on where, how, and when to repair their goods. However, this issue is not limited to the automobile and technology industries, as luxury watches have gained newfound popularity, creating right to repair issues within the industry.

Despite …

Through A Glass Darkly: How Securities Disclosures Give A Distorted View Of The Economy, Gerald F. Davis

Seattle University Law Review

Our understanding of the American economy often relies on stylized facts derived from mandatory disclosures by listed corporations. Data vendors like Standard & Poor’s vacuum up 10Ks and proxy statements into databases, and scholars distill these into tentative maps. This may have been adequate for a postwar economy centered on asset-heavy manufacturers, but it is increasingly out of step with an information-based economy. Companies listed on the stock market are fewer in number and less representative than they were, light in tangible assets and people, and heavy on IP. Basic facts such as what industry they are in are increasingly …

Antitrust In The Health Care Sector, Doug Ross

Chapters in Books

This chapter is an opportunity for students to apply the concepts addressed elsewhere in the book, but at a deeper level and in the context of a sector that accounts for a very large share of antitrust activity on the part of government enforcers and private plaintiffs. The topics chosen illustrate some of the nuances in applying antitrust law in the real world and show how the application of antitrust principles has evolved over time. The chapter also raises important policy questions regarding how to apply antitrust to a sector that is rife with market failures, including what tools and …

Niedoskonałości Rynku I Pomoc Publiczna W Transporcie Kolejowym, Elzbieta Głowicka

internetowy Kwartalnik Antymonopolowy i Regulacyjny (internet Quarterly on Antitrust and Regulation)

Rail transport has a number of characteristics that prevent it from operating efficiently through market forces alone. These include: the natural monopoly of rail infrastructure, the external effects of companies’ decisions, public service nature, coordination failure, information asymmetry, and imperfect competition. State aid to railway undertakings can influence economic incentives to enhance market efficiency. The European Commission’s draft guidelines on land and multimodal transport and its block exemptions in the transport sector address this need.

The Federal Maritime Commission’S New Framework For Ocean Carrier Accountability: Analysis Of The Mcs Industries And Oj Commerce Decisions, Heewan Noh, Jie Shi

Cardozo Law Review de•novo

This article examines two 2024 Federal Maritime Commission (FMC or “Commission”) cases that significantly impact the interpretation of ocean carrier accountability under the Shipping Act of 1984: MCS Industries, Inc. v. COSCO Shipping Lines Co. Ltd. and OJ Commerce, LLC v. Hamburg Südamerikanische Dampfschifffahrts-Gesellschaft A/S & Co. KG. This article argues that the FMC, whose mission is to “[e]nsure a competitive and reliable international ocean transportation supply system that supports the U.S. economy and protects the public from unfair and deceptive practices,” continues to make ongoing efforts to clarify and enforce protecting shippers’ rights. These efforts focus particularly on (i) …

The Score Act Is Unconstitutional: Private Nondelegation Problems With Congress’S Latest Attempt To Regulate College Sports, Sam C. Ehrlich, Ryan M. Rodenberg

Cardozo Law Review de•novo

The Student Compensation and Opportunity through Rights and Endorsements Act (“SCORE Act”) is Congress’s most ambitious effort yet to bring stability to college sports, codifying the recent House settlement while granting sweeping regulatory power to private athletic associations such as the National Collegiate Athletic Association (“NCAA”) and the College Sports Commission (“CSC”). However, by delegating policymaking authority to these private, self-interested entities without any sort of public oversight, the bill raises serious constitutional concerns under the private nondelegation doctrine. Drawing on parallels to a string of litigation involving the Horseracing Integrity and Safety Act (“HISA”) and recent Supreme Court signals, …

Risk Management For Authorising Railway Vehicles In The Eu Legal Framework, Jan Maciej Siudecki

internetowy Kwartalnik Antymonopolowy i Regulacyjny (internet Quarterly on Antitrust and Regulation)

Safe integration of rolling stock with railway system requires comprehensive hazard identification and application of safety measures. There are different cases when European Union regulations demand carrying out risk assessment before a vehicle may be authorised to be placed on the market for both Rolling stock and Command and control signalling onboard subsystems. Specificities of each case are outlined and conclusions as to their scope and interactions between them are discussed. Practical examples of hazards that should be managed in each case are provided. Subsequently it is described, how conclusions from risk assessment impact results of conformity assessment, the authorisation …

Trumpian Populism And The Changing Intellectual Landscape In Antitrust: Century-Old Resonances, The New Right And Possible End Of An Era., Jonathan B. Baker

Scholarly Articles in Law Reviews & Journals

Three sides predominated in the U.S. antitrust policy debate during the Biden administration: neo-Brandeisians (or antimonopolists), centrist reformers (or post-Chicagoans), and conservatives (or Chicagoans). At that time, Trumpian populists did not comfortably fit with any of these groups and were at best secondary participants in policy discussions.

Nine months after the start of the second Trump administration, the intellectual landscape was different. Trumpian populism has now taken center stage at the antitrust enforcement agencies through two senior appointments-- Abigail (Gail) Slater as Assistant Attorney General for Antitrust in the Department of Justice (DOJ) and Mark Meador as a Federal Trade …

Federal Legislation And College Sports: Which Way Forward?, Alfred Yen, Dionne Koller

Fordham Law Review

No abstract provided.

Competitive Effects Of T-Mobile/Sprint: Analysis Of A "4-To-3" Merger, Thomas W. Hazlett, Robert W. Crandall

Michigan Business & Entrepreneurial Law Review

Mergers in the mobile telecommunications industry are of keen interest to policymakers and scholars. This sector often experiences high concentration levels, driven by pronounced economies of scale and scope, alongside substantial regulatory barriers to entry created by radio spectrum allocations. Hence, antitrust authorities frequently struggle with the tradeoff between the benefits of enhanced synergies and the potentially adverse effects of increased market power. This tension results in varied outcomes from regulatory agencies when approving (or blocking) mergers. Between 2012 and 2016, for instance, four E.U. nations (Austria, Ireland, Germany, and Italy) allowed the consummation of “4-to-3” mobile telecommunications transactions, while …

Table Of Contents, Seattle University Law Review

Seattle University Law Review

Table of Contents

Corporate Scenarios: Drawing Lessons From History, Madison Condon

Seattle University Law Review

As corporations are increasingly pressed to reveal information about their exposure to climate-related risks, they are often asked to undertake and disclose the outcome of “scenario analysis.” In this exercise, corporations, including financial institutions, examine how their business would fare under different pathways the future may take. One oft-used scenario, for example, is the International Energy Agency’s “Net-Zero by 2050: A Roadmap for the Energy Sector.” This Essay presents a history of the use of scenarios as a corporate planning tool, particularly in the oil industry, arguing that it is key for understanding our present moment and the role of …

Shareholder Expression In A Time Of Heightened Political Tension, Aaron A. Dhir

Seattle University Law Review

In this article, I provide context for my forthcoming research project on shareholder proposals and racial equity audits. Since the murder of George Floyd in May of 2020, progressive shareholder actors have increasingly used the proposal mechanism to advance diversity, equity, inclusion, and justice-related goals. These proposals have frequently gone beyond requesting the usual corporate fare of diversity trainings, intersectionality workshops, affinity groups, etc. Instead, a more ambitious type of proposal asks corporate America to conduct racial equity audits, defined as “an independent, objective and holistic analysis of a company’s policies, practices, products, services and efforts to combat systemic racism …

Corporate Governance Speech, Sarah C. Haan

Seattle University Law Review

The State has always regulated the intra-firm communications that make corporate governance possible, most commonly by mandating disclosures of information by a corporation to its shareholders. Some such laws are labeled “securities regulation,” but securities regulation is a broad category that extends to speech by actors who are outside the corporate enterprise as well. Also, the conventional securities regulation category does not capture all such laws; other examples, including informationforcing mandates, can be found in state corporate law. This Article uses the term “corporate governance speech” to describe the communications among shareholders, directors, and officers through which corporate governance is …

Dark Accounting Matter, Colleen Honigsberg

Seattle University Law Review

Physicists calculate that approximately 85% of the matter in the universe is composed of “dark matter” that “does not absorb, reflect, or emit electromagnetic radiation and is therefore difficult to detect.” The S&P 500 currently trades at a price-to-book value of 4.2, suggesting that book value accounts for less than 20% of the S&P 500’s market value. The remaining 80% appears nowhere in these firms’ balance sheets—it is invisible to contemporary accounting techniques and constitutes “dark accounting matter.”

Some “dark accounting matter” is composed of factors commonly described as components of “ESG.” Human capital, for example, is an intangible asset …

The Employees’ Dilemma: Balancing Internal Reporting, Whistleblowing, And Insider Trading Risks, Geeyoung Min

Seattle University Law Review

The Essay examines how recent developments in insider trading regulations and whistleblower reward programs can lead to unintended and counterproductive results of discouraging employees from using internal reporting channels within corporate compliance programs. While the presence of a robust and well-functioning corporate compliance program is a critical factor both in mitigating the level of public enforcement actions against companies and in protecting corporate managers from liability in private litigation, these programs often provide little incentive for employees to report potential misconduct internally.

Corporate compliance programs are designed to promote the upward information flow within the company, which is essential for …

How The Antidiscrimination Law Of Commercial Transactions Really Works, Helen Norton

Seattle University Law Review

A variety of businesses now cite 303 Creative when seeking First Amendment protection for their refusal to serve certain customers based on those customers’ protected class status. How this litigation will play out remains to be seen. But future courts need not, and should not, repeat the 303 Creative Court’s misunderstanding of how the antidiscrimination law of commercial transactions actually works.

Part I of this Essay explains the Court’s longstanding understanding of the antidiscrimination law of commercial transactions, and then describes the Court’s failure to engage with this precedent in 303 Creative. Part II then identifies the 303 Creative decision’s …

Regulatory Personhood: The Elixir For Redundancy Between The Sec And The Pcaob, Sarah Williams

Faculty Scholarly Works

The Public Company Accounting Oversight Board (“PCAOB” or “Board”) is a quasi-governmental regulatory agency created by Congress in 2002 in response to revelations of widespread financial fraud at major public companies. Since its creation, the agency has experienced significant challenges. Litigants have challenged its constitutionality, the Trump administration challenged its very existence, and legislation was introduced in 2021 to transfer its responsibilities to the U.S. Securities and Exchange Commission (“SEC”).

Proposals to eradicate the Board asserted vague concerns about the redundancy of its responsibilities with those of the SEC, and alleged resultant monetary waste. This Article, written in 2022, provides …

Why We Need A Merger Cap: An Antitrust Lesson From General Electric, Carl T. Bogus

Journal of Legislation

This Article makes a modest proposal from a radical perspective. The proposal is this: Once a firm reaches a certain size, it should be prohibited from growing larger through mergers or acquisitions. The radical perspective is that antitrust law should be concerned with corporate size. It was a century ago that Louis D. Brandeis coined the term “curse of bigness,” and his concern about the social and political consequences of corporate size has long since fallen out of favor. Today, the consensus view is that antitrust should be concerned exclusively with economics. Current doctrine allows corporations to merge, provided only …

Green Dividends: A Case Study In Green Dividends And The Conditions For Private Ordering Solutions, Anne M. Tucker

Seattle University Law Review

This Essay introduces a novel private ordering solution to facilitate corporate investments in pro-social and environmental initiatives: Green dividends. Green dividends are an optional increase in shareholder dividends that are returned to the company to be reinvested in environmental initiatives or kept by a shareholder.

Green dividends pose an alternative to the current gridlocked debate that corporations can’t, won’t, shouldn’t, and shouldn’t even try to act in pro-social or environmental ways. Turning the common refrains on their head converts each narrative into an element for a successful private ordering solution: authority, accountability, shareholder buy-in, and government- backed enforcement. With Green …

Does Climate Disclosure Work To Reduce Greenhouse Gas Emissions? Emerging Evidence Suggests Cautious Optimism, Cynthia A. Williams

Seattle University Law Review

Significant regulatory resources have been spent developing global, voluntary climate and sustainability disclosure standards, such as the TCFD, TNRD, and ISSB’s Sustainability and Climate Disclosure standards, or domestically required disclosures, such as in the EU and in the U.S. Thus, it is important to evaluate whether this disclosure, particularly voluntary, qualitative disclosure, will have the power to shift the allocation of capital, will have a significant effect on the management of climate risk within firms, and ultimately will reduce climate change risk and biodiversity loss.

In this Article, several interrelated questions will be discussed. First, what does the empirical evidence …

Redefining The Relevant Market: Abandonment Or Return To Brown Shoe, Daniel A. Hanley

Dickinson Law Review (2017-Present)

Defining a relevant market is arguably the most important requirement in antitrust litigation. Between the 1890s and the 1940s, defining a relevant market was a simple and generalized process, typically undertaken by courts as a cursory matter. However, in the 1960s, defining relevant markets became a centerpiece of antitrust litigation. The modern method originates from the Supreme Court’s landmark 1962 decision in Brown Shoe v. United States. The method commonly known as the Brown Shoe test requires judges to construct relevant markets by carefully analyzing accessible and understandable qualitative data, such as internal corporate documents and consumer surveys. Since the …

Ftc V. Amazon: A Turning Point For Antitrust Law?, Matthew Cole Conover

Washington and Lee Journal of Civil Rights and Social Justice

The United States is experiencing crippling economic inequalities that harken back to the Gilded Age. For the first time, legal scholars have turned to antitrust law to reverse this alarming trend. These scholars, including current Federal Trade Commission Chairwoman Lina Khan, are testing this ambitious theory in the E-commerce industry. E-commerce is a market largely dominated by one company: Amazon. With its dominance, Amazon lures small businesses into its third-party seller marketplace, where it controls those business’s prices and punishes those that resist. Lina Kahn’s FTC has formally launched its litigation campaign against Amazon, claiming that the company has violated …

Jerking The Rug Out From Under A Trade Secret Licensee: Is Transfer Of The Patent A Remedy?, Henry H. Perritt Jr.

Michigan Technology Law Review

Predominantly state trade secret law and exclusively federal patent law enjoy a sometimes-uneasy coexistence. Inventions almost always are secret until and unless they are patented; publicizing them for too long will negate the availability of a patent. Misappropriation of trade secrets often is accompanied by application for a patent on the same subject matter. This commonly occurs when an employee gains access to his employer’s trade secrets, quits, and then applies for a patent on them in his own name, maybe after going to work for a competitor of the original employer. It is also conceivable that the owner of …

Without Noncompete Agreements, Can Employers Keep A (Trade) Secret?, Cynthia L. Dahl

American University Business Law Review

Data, algorithms, and proprietary information and processes are critical assets for increasing numbers of companies. Since information assets often cannot be protected through patent, companies may instead rely on trade secret law. To meet the legal standard of a trade secret, companies must show that their information assets confer a competitive advantage to them by virtue of the secret status, and that they have taken reasonable measures to preserve the secrecy.

One of the reliable methods companies use to maintain secrecy, and to show that they have taken the required reasonable measures, is the use of restrictive covenants. Traditionally, companies …

Self-Regulation In Emerging And Innovative Industries, Daniel E. Walters, Hannah J. Wiseman

Faculty Scholarship

Self-regulation—governance of firm behavior by private entities—has a long history both in the United States and globally, and there is an extensive literature on the topic. But there has been far less attention paid to the role self-regulation can play in spurring and enabling innovation and growth within emerging industries. These industries—both currently ascendant ones such as hydrogen and artificial intelligence, as well as formerly new (but now well established) activities in hydraulic fracturing and Internet communications—plausibly benefit from self-regulation’s ability to coordinate economic actors and reassure often skeptical publics. Examining the ways that self-regulation impacts this special type of …