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Business Organizations Law Commons™

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2012

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Articles 211 - 240 of 281

Full-Text Articles in Business Organizations Law

Toward A Nexus Of Virtue, Ronald J. Colombo Jan 2012

Toward A Nexus Of Virtue, Ronald J. Colombo

Washington and Lee Law Review

Corporate law, like all law, should be directed toward the common good. The common good requires that corporate activity be restrained, if not actively directed, by human virtue. An analysis of the corporate enterprise suggests that those corporate actors with the greatest stake in the exercise of virtue, and best positioned to influence corporate activity via the exercise of virtuous judgment, are the corporation’s officers. Thus, one of the primary objectives of corporate law should be to promote virtue among corporate officers. Contrary to what some might assume, the promotion of virtue among corporate officers need not entail a promulgation …

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Further Perspectives On Corporate Wrongdoing, In Pari Delicto, And Auditor Malpractice, Deborah A. Demott Jan 2012

Further Perspectives On Corporate Wrongdoing, In Pari Delicto, And Auditor Malpractice, Deborah A. Demott

Washington and Lee Law Review

No abstract provided.

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Agency And The Ontology Of The Corporation, Christopher M. Bruner Jan 2012

Agency And The Ontology Of The Corporation, Christopher M. Bruner

Washington and Lee Law Review

No abstract provided.

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Protecting Minority Shareholders In Civil And Common Law Systems: Canadian, Ukrainian And German Examples, Iushchenko Igor Sergiiovych Jan 2012

Protecting Minority Shareholders In Civil And Common Law Systems: Canadian, Ukrainian And German Examples, Iushchenko Igor Sergiiovych

LLM Theses

This thesis analyses minority shareholder protection in common law and civil law systems. Principally, this is done by examining closely-held corporations created under Canadian, Ukrainian and German laws. It examines minority shareholder protection by critically analyzing voting and related rights, the right to information; withdrawal from the company, expulsion right, the dissolution of a company, derivative action and direct action. The thesis also summarizes problems in the civil law system that cannot be solved in favor of minority shareholders. In addition to the above-mentioned, it provides possible solutions to the problems of minority shareholder protection in the civil law system, …

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The Bizarre Law & Economics Of 'Business Roundtable V. Sec', Grant M. Hayden, Matthew T. Bodie Jan 2012

The Bizarre Law & Economics Of 'Business Roundtable V. Sec', Grant M. Hayden, Matthew T. Bodie

Faculty Journal Articles and Book Chapters

Corporations are legal entities designed to foster certain kinds of collective economic activity. The decisionmaking power within a corporation ultimately rests with a board of directors elected by shareholders. Shareholders, however, do not use anything like a conventional ballot in these elections; instead, they fill out a “proxy ballot,” delivered to them by the incumbent board. This proxy ballot lists only the incumbent board’s chosen nominees, very often the board members themselves. If a shareholder wants to run for director or propose another nominee for the board, she needs to provide all other shareholders with a separate proxy ballot — …

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Going Native: Incentive, Identity, And The Inherent Ethical Problem Of In-House Counsel, Pam Jenoff Jan 2012

Going Native: Incentive, Identity, And The Inherent Ethical Problem Of In-House Counsel, Pam Jenoff

West Virginia Law Review

No abstract provided.

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Tribal Rituals Of The Mdl: A Comment On Williams, Lee, And Borden, Repeat Players In Multidistrict Litigation, Myriam E. Gilles Jan 2012

Tribal Rituals Of The Mdl: A Comment On Williams, Lee, And Borden, Repeat Players In Multidistrict Litigation, Myriam E. Gilles

Articles

No abstract provided.

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The Use Of Federal Law To Curb Excessive Executive Compensation: Lessons In Past Failures And Lessons For The Future, Kathryn J. Kennedy Jan 2012

The Use Of Federal Law To Curb Excessive Executive Compensation: Lessons In Past Failures And Lessons For The Future, Kathryn J. Kennedy

Villanova Law Review (1956 - )

No abstract provided.

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Bright-Line Rules And Inefficient Markets: The Third Circuit's 10b-5 Materiality Doctrine Is Ripe For Revision, Brian J. Boyle Jan 2012

Bright-Line Rules And Inefficient Markets: The Third Circuit's 10b-5 Materiality Doctrine Is Ripe For Revision, Brian J. Boyle

Villanova Law Review (1956 - )

No abstract provided.

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Made In The U.S.A.: Corporate Responsibility And Collective Identity In The American Automotive Industry, Benjamin Levin Jan 2012

Made In The U.S.A.: Corporate Responsibility And Collective Identity In The American Automotive Industry, Benjamin Levin

Publications

This Article challenges the corporate-constructed image of American business and industry. By focusing on the automotive industry and particularly on the tenuous relationship between the rhetoric of automotive industry advertising and doctrinal corporate law, this Article examines the ways that social and legal actors understand what it means for a corporation or its products to be American. In a global economy, what does it mean for a corporation to present the impression of national citizenship? Considering the recent bailout of American automotive corporations, the automotive industry today becomes a powerful vehicle for problematizing the conflicted public/private nature of the corporate …

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The Perpetual Corporation, Andrew A. Schwartz Jan 2012

The Perpetual Corporation, Andrew A. Schwartz

Publications

Courts and commentators take for granted that the ultimate objective of a business corporation is long-run profitability, not immediate profits. But a corporation is a creature of statute, so a statutory source for this rule must be found--or it is not really a rule. Yet prior literature has not identified any such legal basis, leaving a gap in corporate theory. This Article fills that gap by showing that the modern corporation is obliged to act with a long-term view because it has "perpetual existence" under the law. This Article then explains that because they must plan for a perpetual future, …

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Terrorism Financing Indicators For Financial Institutions In The United States, Richard K. Gordon Jan 2012

Terrorism Financing Indicators For Financial Institutions In The United States, Richard K. Gordon

Faculty Publications

At least since the Financial Action Task Force (FATF) first published its Forty Recommendations, financial institutions in FATF-compliant jurisdictions have been required to implement preventive measures that require FIs to identify customers, establish client profiles, monitor for unusual transactions, review those transactions to see if there was suspicion that they involved the proceeds of crime and, if so, report the transaction to the authorities in the form of a suspicious transaction report (STR). When these requirements were first established, neither financial institutions nor their supervisors/regulators had much experience as to what in a client's profile and the client's patterns of …

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Regulation Llc, Raymond P. Girnys Jan 2012

Regulation Llc, Raymond P. Girnys

NYLS Law Review

No abstract provided.

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Turning The Lights On: An Analysis Of The Fiduciary Duty Provisions Of The New York State Public Authority Reform Act, Adam Paul Gordon Jan 2012

Turning The Lights On: An Analysis Of The Fiduciary Duty Provisions Of The New York State Public Authority Reform Act, Adam Paul Gordon

NYLS Law Review

No abstract provided.

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Green Building Liability: Considering The Applicable Standards Of Care And Strategies For Establishing A Different Level By Agreement, Darren A. Prum Jan 2012

Green Building Liability: Considering The Applicable Standards Of Care And Strategies For Establishing A Different Level By Agreement, Darren A. Prum

UC Law Business Journal

Many in the construction industry have begun adopting green building practices, leading owners to demand specialists in this area to meet sustainable building goals. In taking on these projects, the parties may overlook the standard of care for disputes concerning green building liability. No case law has definitively resolved the appropriate standard of care for such projects, but through analysis of existing common law and approved strategies for creating contractual relationships, a likely standard for court treatment begins to emerge. The article recommends particular strategies that parties to green building contracts should undertake to avoid future disputes and set an …

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Encouraging Litigation: Why Dodd-Frank Goes Too Far In Eliminating The Procedural Difficulties In Sarbanes-Oxley, Jessica Luhrs Jan 2012

Encouraging Litigation: Why Dodd-Frank Goes Too Far In Eliminating The Procedural Difficulties In Sarbanes-Oxley, Jessica Luhrs

UC Law Business Journal

This note reviews the whistleblower protections in the Dodd-Frank Wall Street Reform and Consumer Protection Act. These sweeping protections decrease the barriers and increase the incentives for corporate whistleblowers, in part by decreasing procedural hurdles and providing potentially staggering cash bounties. This note argues that these whistleblower protections go too far and are likely to increase the number of false and meritless claims filed with the Securities and Exchange Commission. This note concludes that the Securities and Exchange Commission should address these shortcomings and supplement its regulatory efforts by incentivizing corporate transparency, penalizing those who file false claims, and encouraging …

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A Responsibility To Speak: Citizens United, Corporate Governance And Managing Risks, Roger Coffin Jan 2012

A Responsibility To Speak: Citizens United, Corporate Governance And Managing Risks, Roger Coffin

UC Law Business Journal

Contrary to prior assumptions, the right to corporate political speech established by Citizens United v. Federal Election Commission should not damage corporate stock prices or negatively affect firm value. A sampling of indexes and individual corporate stock prices provides empirical data demonstrating that corporate political spending does not harm shareholders. Special shareholder protections in the event of corporate political speech are therefore unnecessary and such corporate speech does not impinge a shareholder’s ability to exercise political beliefs. On the contrary, corporations require the ability to protect their own interest against regulation that may hamper economic success by engaging in political …

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Scratch My Back, And I'Ll Scratch Yours: Scratching The Surface Of The Duty Of Care In Cross Sector Collaborations - Are For-Profits Obligated To Ensure The Sustainability Of Their Partner Non-Profits?, Christyne J. Vachon Esq. Jan 2012

Scratch My Back, And I'Ll Scratch Yours: Scratching The Surface Of The Duty Of Care In Cross Sector Collaborations - Are For-Profits Obligated To Ensure The Sustainability Of Their Partner Non-Profits?, Christyne J. Vachon Esq.

UC Law Business Journal

Nonprofits and For-profit corporations increasingly interact with each other to gain the mutual benefits of cross sector Collaborations. Nonprofits gain access to resources, expertise, and new business avenues, among other benefits. For-profits gain good will, trust, and access to new markets. The Collaboration can lead to corporate governance issues that should not be overlooked during management decision making. The article evaluates a Continuum of engagement in the For-profit and Nonprofit Collaboration that informs the requisite duty of care for the entities’ boards of directors. Ultimately, the duty of care owed by the For-profit to the Nonprofit depends on where the …

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Plus Ultra: Third-Party Preservation In A Cloud Computing Paradigm, Joseph A. Nicholson Jan 2012

Plus Ultra: Third-Party Preservation In A Cloud Computing Paradigm, Joseph A. Nicholson

UC Law Business Journal

This note analyzes problems of electronic document preservation in the context of cloud computing. Such document storage policies pose special problems when a litigant’s data is subject to discovery but stored on the network of a third-party vendor. Without contractual preservation obligations, these third parties are likely to escape sanctions even when crucial data is destroyed. The note proposes various electronic storage solutions that would preserve data for discovery during litigation while exposing current problems associated with current litigation tools that fail to compel document production. Finally, the author proposes using terms of service agreements that would ease tensions but …

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Supplier Tactics For Dealing With Financially Distressed Corporate Customers, John A. Pearce Ii, Ilya A. Lipin Jan 2012

Supplier Tactics For Dealing With Financially Distressed Corporate Customers, John A. Pearce Ii, Ilya A. Lipin

UC Law Business Journal

The 2007 recession led to thousands of corporate bankruptcies. When a corporation declares bankruptcy, suppliers are forced to recover payments that are legally owed to them, and thus suffer severe economic losses. Suppliers can benefit from being proactive in their use of legal tools to increase the probability of collecting receivables from their customers. This article explains how bankruptcy can affect suppliers' ability to obtain full payment for goods sold and details remedies available to suppliers under the Bankruptcy Abuse Prevention and Consumer Protection Act ("BAPCPA"). The author also provides tactics for how to improve the leverage of the supplier …

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High-Frequency Trading And The Flash Crash: Structural Weaknesses In The Securities Markets And Proposed Regulatory Responses, Ian Poirier Jan 2012

High-Frequency Trading And The Flash Crash: Structural Weaknesses In The Securities Markets And Proposed Regulatory Responses, Ian Poirier

UC Law Business Journal

This note will illuminate the relatively unknown highfrequency trading industry. First, it will examine the state of the industry, in context with the flash crash of May 6, 2010 when a single trader in Kansas City sent the U.S. securities markets into a tailspin. Next, it will explain why the hodgepodge of regulations struggling to control this industry is entirely inadequate to prevent another crash. Finally, the authors suggest a better solution-relatively noninvasive controls that could be put in place to prevent future flash crashes and restore investor confidence.

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Debunking The Myth That Insurance Coverage Is Not Available Or Allowed For Intentional Torts Or Damages, Christopher C. French Jan 2012

Debunking The Myth That Insurance Coverage Is Not Available Or Allowed For Intentional Torts Or Damages, Christopher C. French

UC Law Business Journal

A common misconception that insurance coverage is not available for intentional injuries or damage is, in fact, untrue. This myth is based in the “fortuity doctrine” that provides insurance should only cover losses by chance, and public policy that disfavors insurance for intentional harms. In reality, many types of liability insurance policies cover intentional torts ranging from trademark infringement to defamation and employment discrimination. These policies also cover punitive damage awards in most jurisdictions. Furthermore, public policy actually favors insurance recoveries for intentional torts because no empirical data exists to support the proposition that liability insurance increases policy holder misconduct. …

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California License To Be Sued: A Critique Of Strict Liability Imposed On Business Owner Licensees From The Perspective Of The Smog Check Industry, Zachary Young Jan 2012

California License To Be Sued: A Critique Of Strict Liability Imposed On Business Owner Licensees From The Perspective Of The Smog Check Industry, Zachary Young

UC Law Business Journal

This article criticizes strict liability when used in disciplinary actions by regulatory agencies. The article examines the strict liability theory from the perspective of the automotive smog check industry, where the law is relatively new, to set forth principles that should be applied to a number of industries. The article also discusses the background of the smog check industry and its governing law and critiques the current state of the law by discussing the burdensome effect it places on business owners including smog station owners. The article proposes a bright line rule to limit strict liability and more effectively pursue …

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The Creation And Destruction Of Price Cartels: An Evolutionary Theory, William Bradford Jan 2012

The Creation And Destruction Of Price Cartels: An Evolutionary Theory, William Bradford

UC Law Business Journal

Why are gas stations able to charge price premiums above competitive price and how are companies arrive at identical supracompetitive price? The article describes the causes and effects of supracompetitive pricing, explains the inability of antitrust law to suppress some instances of supracompetitive pricing, establishes the importance of trust between firms as a necessary condition for supracompetitive pricing, and illustrates how the strategic exchange of information is crucial to the creation and destruction of trust and thus to the evolution and devolution of price cartels. The author develops a "positive theory" that explains and predicts the evolution and devolution of …

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The Bonds That Tie: Will A Performance Bond Require That A Surety Deliver A Certified Green Building?, Darren A. Prum, Lorilee A. Medders Jan 2012

The Bonds That Tie: Will A Performance Bond Require That A Surety Deliver A Certified Green Building?, Darren A. Prum, Lorilee A. Medders

UC Law Business Journal

In 2006, the legislators of Washington, D.C. passed landmark legislation introducing green building requirements for various types of structures into the jurisdiction over a five-year period. A noteworthy aspect of the legislation is that it directed construction projects within the district to purchase green performance bonds up to $3 million to guard against a privately owned project’s failure to meet its green building aspirations. Outside of the regulatory requirements, lawsuits may also occur between the participants of a project if the finished structure fails to attain a third party certification. Given the need by project participants to address the risks …

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What’S Good In Theory May Be Flawed In Practice: Potential Legal Consequences Of Poor Implementation Of A Theoretical Sample, A. Lynn Phillips, G. Michael Phillips, Melanie Stallings Williams Jan 2012

What’S Good In Theory May Be Flawed In Practice: Potential Legal Consequences Of Poor Implementation Of A Theoretical Sample, A. Lynn Phillips, G. Michael Phillips, Melanie Stallings Williams

UC Law Business Journal

This article discusses the problems with the use of statistical sampling in litigation. Sample-based research is increasingly used in a diverse array of cases including products liability, antitrust, intellectual property, and criminal law. Sample-based research provides objective evidence upon which decisions, damages, and liability may rest. Despite its importance, however, statistical evidence is often misused and misunderstood by attorneys unfamiliar with the underlying form of analysis. This article explores common errors when using litigative samples, comments upon best practices for the use in law of sample-based research, and demonstrates the importance of sound statistical sampling and data collection in a …

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The Jobs Act: Unintended Consequences Of The “Facebook Bill”, Tyler Adam Jan 2012

The Jobs Act: Unintended Consequences Of The “Facebook Bill”, Tyler Adam

UC Law Business Journal

The Jumpstart Our Business Startups Act (“JOBS Act”), in part, amended § 12(g) of the Securities Exchange Act of 1934. Originally enacted to impose mandatory disclosure requirements on non-reporting companies with a significant volume of trading, § 12(g) became dysfunctional due to changes in the market landscape. The JOBS Act amended § 12(g), first, by raising the shareholders of record threshold, and second, by excluding from the threshold number persons who received securities pursuant to certain employee compensation plans. This note argues that the JOBS Act’s retooling of § 12(g) fails to adequately resolve fundamental problems with the rule. Specifically, …

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The Case Against Statutory Menus In Corporate Law, Daniel M. Häusermann Jan 2012

The Case Against Statutory Menus In Corporate Law, Daniel M. Häusermann

UC Law Business Journal

The author challenges the view among corporate law scholars that state legislatures should enact menus of predefined statutory rules from which corporations may select the governance terms of their choice. The private sector has produced menus of contract terms, such as standard form contracts and model documents, long before the idea of statutory menus became fashionable. There is no evidence that the market for private menus has failed, and legislatures are unlikely to be efficient menu producers. Advocates of statutory menus have suggested a number of rationales, most notably considerations based on transaction costs, network and learning effects, bounded attention, …

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Fair Copyright Litigation: The Reverse Class Action Lawsuit, Brian Noh Jan 2012

Fair Copyright Litigation: The Reverse Class Action Lawsuit, Brian Noh

UC Law Business Journal

By some estimates, more than 40 billion songs were downloaded illegally in 2008. In recent years, some copyright holders seeking to curtail copyright infringement have filed thousands of claims against individual end-users and peer-to-peer network operators. The resulting scenario, in some instances, has required plaintiffs to prepare settlement strategies against thousands of individual defendants who are often ill equipped to deal with such suits. This note addresses the inability of the copyright law regime to resolve such scenario, one of the growing problems of the information age. Specifically, the author proposes that the solution to these problems is found in …

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Introduction: Contains Cover, Table Of Contents, Letter From The Editor, And Masthead, Joel Hermsdorfer Jan 2012

Introduction: Contains Cover, Table Of Contents, Letter From The Editor, And Masthead, Joel Hermsdorfer

Richmond Journal of Law & Technology

The Richmond Journal of Law and Technology is proud to present its Annual Survey issue of the 2011-2012 academic year.

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