Business Organizations Law Commons^™

Morris Hardwick Schneider Llc Et Al Order On Plaintiffs' Motion To Dismiss Defendant Hardwick's Counterclaims And Motions For Protective Order And Stay, Melvin K. Westmoreland

Superior Court of Fulton County: Metro Atlanta Business Case Division Opinions

No abstract provided.

Drummond Financial Services Llc Order On Defendants' Motion For Partial Stay, John J. Goger

Superior Court of Fulton County: Metro Atlanta Business Case Division Opinions

No abstract provided.

Pulte Home Corporation Order On Defendant' Choate Construction Company's Motion For Partial Summary Judgment, John J. Goger

Superior Court of Fulton County: Metro Atlanta Business Case Division Opinions

No abstract provided.

Gross Endowment Trust Llc, Roy Dickson Order On Plaintiffs' Motion To Compel Second Deposition Of Non-Party Fortress Investment Group, Llc, Alice D. Bonner

Superior Court of Fulton County: Metro Atlanta Business Case Division Opinions

No abstract provided.

Samaca, Llc, Order On Defendants' Motion To Dismiss Complaint And Compel Arbitration, Alice D. Bonner

Superior Court of Fulton County: Metro Atlanta Business Case Division Opinions

No abstract provided.

Finding The Pearl In The Oyster: Supercharging Ipos Through Tax Receivable Agreements, Christopher B. Grady

Northwestern University Law Review

A new, “supercharged” form of IPO has slowly developed over the last twenty years. This new form of IPO takes advantage of several seemingly unrelated provisions of the tax code to multiply pre-IPO owners’ proceeds from a public offering without reducing the amount public investors are willing to pay for the stock. Supercharged IPOs use a tax receivable agreement to transfer tax assets created by the IPO back to the pre-IPO ownership, “monetizing” the tax assets. As these structures have become more efficient, commentators have expressed concerns that these agreements deceive shareholders who either ignore or do not understand the …

Disrupting Immigration: How Administrative Rulemaking Could Transform The Landscape For Immigrant Entrepreneurs, Tess Douglas

Pepperdine Law Review

Immigrant entrepreneurs come to the United States and start thriving companies that create jobs, drive the economy, and facilitate innovation. However, U.S. laws do not provide a clear path for immigrant entrepreneurs to lawfully enter and work in America. Therefore, immigrant entrepreneurs must seek lawful status in the United States through unusual routes. While Congress, the President, and the United States Citizenship and Immigration Services (USCIS) recognize the need for clear and accessible immigration standards for immigrant entrepreneurs, the politicized nature of immigration law has impeded significant change. This Comment details how administrative rules could offer a less politicized and …

Bsl Holdings, Llc Et Al., Order On Third Party Defendants' Motion To Dismiss, Elizabeth E. Long

Superior Court of Fulton County: Metro Atlanta Business Case Division Opinions

No abstract provided.

Up In Smoke? Unintended Consequences Of Retail Marijuana Laws For Partnerships, Lauren A. Newell

Law Faculty Scholarship

When Colorado citizens petitioned in 2012 to legalize the retail sale of marijuana in their state, Colorado Governor John Hickenlooper publicly opposed the ballot measure. He knew that state legalization of retail marijuana sales would be risky because the federal Controlled Substances Act makes selling marijuana a crime. He worried that being the first state to legalize retail marijuana sales would make Colorado the “experiment.” Governor Hickenlooper knew that this experiment would come with “unintended consequences.”

Governor Hickenlooper’s concerns were well founded. Scholars have identified a host of practical and legal problems caused by the combination of state marijuana legalization …

Governance Interactions In Sustainable Supply Chain Management, Errol Meidinger

Transnational Business Governance Interactions Working Papers

“Supply chains” are a major site of transnational business governance, and yet their dynamics and effectiveness are usually more assumed than interrogated in regulatory governance discourse. The very term “chain” implies a more determinist and simplistic understanding of supply relationships than is empirically supportable. Supply chains in practice are complex, dynamic, and highly variable networks. Based on peer-group presentations by over 60 supply chain professionals, this paper analyzes sustainable supply chain management practices in terms of the interactions conceptions of the Transnational Business Governance Interactions framework. It discusses possible refinements of the framework and suggests that sustainable supply chain management …

The Importance Of The Business Judgment Rule, Bernard S. Sharfman

Faculty Scholarship

No abstract provided.

A Private Ordering Defense Of A Company's Right To Use Dual Class Share Structures In Ipos, Bernard S. Sharfman

Faculty Scholarship

No abstract provided.

The Global Fight Against Base Erosion And Profit Shifting Under The Oecd’S Country-By-Country Reporting Rules: A Possible Solution?, Oladiwura Ayeyemi Eyitayo-Oyesode

LLM Theses

The base erosion and profit shifting (BEPS) phenomenon continues to create detrimental consequences in states. BEPS is engendered by two fundamental factors, namely, unhealthy fiscal policies of tax havens and preferential tax regimes, and transfer mispricing by multinational corporations (MNCs). The OECD, through its BEPS Project notes that the lack of transparency in the global activities of MNCs is a major cause of BEPS. To close this gap, the OECD released the CBCR Rules. This thesis discusses the severity of the BEPS phenomenon and assesses the anti-BEPS efforts of the OECD. Upon an assessment of these efforts, this thesis argues …

No Smoke And No Fire: The Rise Of Internal Controls Absent Anti-Bribery Violations In Fcpa Enforcement, Karen E. Woody

Scholarly Articles

The Foreign Corrupt Practices Act (FCPA) prohibits bribery of foreign public officials in order to obtain or retain business. It is, for all intents and purposes, an anti-bribery statute. To detect bribery, the FCPA contains accounting provisions related to bookkeeping and internal controls. The books and records provision requires issuers to make and maintain accurate books, records, and accounts; likewise, the internal controls provision requires that issuers devise and maintain reasonable internal accounting controls aimed at preventing and detecting FCPA violations. If one considers the analogy that bribery is the “fire” in FCPA enforcement actions, and books and records violations …

Situating The Corporation Within The Vulnerability Paradigm: What Impact Does Corporate Personhood Have On Vulnerability, Dependency, And Resilience, Heather M. Kolinsky

Scholarly Articles

As a result of the U.S. Supreme Court’s 2014 case Burwell v. Hobby Lobby, and the seemingly expanding notion of the corporation as a person within the traditional autonomous rights paradigm, a tension has developed between corporation as subject and corporation as institution. This evolution of corporation as person also highlights the problem of providing resilience to vulnerable subjects whose competing vulnerabilities are situated in the same corporate environment. Addressing this issue is of critical importance where employment has become the conduit for the responsive state to provide resilience to so many subjects, as well as the site of …

Group Litigation As An Instrument Of Competition Law Enforcement – Analysis Based On European, French And Polish Experience, Maciej Gac

Monografie CARS/CARS Monographs

Książka zawiera szczegółową analizę europejskiego systemu egzekwowania prawa konkurencji. Jej celem jest stworzenie bazy teoretycznej dla udzielenia odpowiedzi na następujące pytania: (i) jak stworzyć bardziej skuteczny system stosowania prawa konkurencji w Europie; (ii) jak zmniejszyć problemy poszkodowanych jednostek żądających odszkodowania; (iii) jak zapewnić równowagę między publicznymi i prywatnymi metodami egzekwowania prawa konkurencji.

W tym celu książka koncentruje się na mechanizmie sporów zbiorowych, który jest, zdaniem autora, brakującym ogniwem w europejskim systemie egzekwowania prawa konkurencji i stanowi kluczowy wymóg ustanowienia nowoczesnego i skutecznego systemu egzekwowania prawa konkurencji. Poprzez porównanie różnych podejść do sporów zbiorowych (europejskiego i amerykańskiego) i przez odniesienie do …

Saying Yes: Reviewing Board Decisions To Sell Or Merge The Corporation, Franklin A. Gevurtz

Florida State University Law Review

No abstract provided.

Leidos And The Roberts Court's Improvident Securities Law Docket, Matthew C. Turk, Karen E. Woody

Scholarly Articles

For its October 2017 term, the U.S. Supreme Court took up a noteworthy securities law case, Leidos, Inc. v. Indiana Public Retirement System. The legal question presented in Leidos was whether a failure to comply with a regulation issued by the Securities and Exchange Commission (SEC), Item 303 of Regulation S-K (Item 303), can be grounds for a securities fraud claim pursuant to Rule 10b-5 and the related Section 10(b) of the 1934 Securities Exchange Act. Leidos teed up a significant set of issues because Item 303 concerns one of the more controversial corporate disclosures mandated by the SEC—an …

Selling Stock And Selling Legal Claims: Alienability As A Constraint On Managerial Opportunism, Charles R. Korsmo

Faculty Publications

Scholars have long recognized the importance of market forces as a tool for disciplining the management of public corporations and reducing agency costs. If managers loot or otherwise mismanage the firm, the firm’s stock price will suffer, raising its cost of capital and leaving managers exposed to the threat of a hostile takeover. In recent decades, changing patterns of stock ownership have threatened the viability of this market check on mismanagement. Institutional investors, and particularly index funds, own an increasing portion of publicly traded firms, and face substantial liquidity and other barriers to simply selling their positions. To the extent …

Sharing Economy Meets The Sherman Act: Is Uber A Firm, A Cartel, Or Something In Between?, Mark Anderson

Articles

The sharing economy is a new industrial structure that is made possible by instantaneous internet communication and changes in the life, work, and purchasing habits of individual entrepreneurs and consumers. Antitrust law is an economic regulatory scheme dating back to 1890 in the United States that is designed to address centrally controlled concentrations of economic power and the threats that those concentrations pose to consumer interests and economic efficiency. In order to accommodate a modern enterprise structure in which thousands or millions of independent contractors join forces to provide a service by agreement among themselves, antitrust law requires re-envisioning and …

Twenty-Ninth Annual Corporate Law Center Symposium: Corporate Social Responsibility And The Modern Enterprise: Foreword, Felix B. Chang

Faculty Articles and Other Publications

In December 2015, Facebook founder Mark Zuckerberg and his wife, Priscilla Chan, publicly pledged to give ninety-nine percent of their Facebook shares, then worth over $45 billion, to charitable purposes. As the receptacle for their philanthropy, the couple created a limited liability company. This touched off a flurry of commentary over the merits of limited liability companies (LLCs) versus nonprofit organizations and for-profit social enterprises such as benefit corporations. Anticipating the debates to follow, the Corporate Law Center at the University of Cincinnati College of Law (UC) held its 29th Annual Symposium (the Symposium) on corporate social responsibility and the …

Corporate Directors' And Officers' Cybersecurity Standard Of Care: The Yahoo Data Breach, Lawrence J. Trautman, Peter C. Ormerod

American University Law Review

On September 22, 2016, Yahoo! Inc. ("Yahoo") announced that a data breach and theft of information from over 500 million user accounts had taken place during 2014, marking the largest data breach ever at the time. The information stolen likely included names, birthdays, telephone numbers, email addresses, hashed passwords, and, in some cases, encrypted or unencrypted security questions and answers. Yahoo further disclosed its belief that the stolen data "did not include unprotected passwords, payment card data, or bank account information." Just two months before Yahoo disclosed its 2014 data breach, it announced a proposed sale of the company's core …

Ceo Side Payments In Mergers And Acquisitions, Brian J. Broughman

Articles by Maurer Faculty

In addition to golden parachutes, CEOs often negotiate for personal side-payments in connection with the sale of their firm. Side-payments differ from golden parachutes in that they are negotiated ex post in connection with a specific acquisition proposal, whereas golden parachutes are part of the executive’s employment agreement negotiated when she is hired. While side-payments may benefit shareholders by countering managerial resistance to an efficient sale, they can also be used to redistribute merger proceeds to management. The current article highlights an overlooked distinction between pre-merger golden parachutes and merger side-payments. Similar to a legislative rider attached to a popular …

Veil Piercing And Fraudulent Transfer Avoidance In Supplemental Proceedings: How Expanding Statutory Remedies And Enforcement Jurisdiction Can Promote Judicial Economy And Facilitate Judgment Collection, 50 J. Marshall L. Rev. 279 (2017), Guy Macarol

UIC Law Review

This comment will highlight the advantages of consolidating fraudulent transfer avoidance claims and piercing actions within supplemental proceedings, particularly with respect to the important goals of promoting judicial economy and the successful collection of judgments.

An Exception To The Derivative Rule: Allowing Mutual Fund Investors To Bring Suits Directly, Jamie D. Kurtz

Brooklyn Law Review

Mutual funds differ greatly from traditional corporations in the way they are formed and operated. Despite these differences, courts apply the same rules for derivative shareholder litigation to both types of entities. While these rules make sense and were mostly created with corporations in mind, courts have generally been unwilling to consider mutual funds’ unique characteristics in determining whether to allow direct litigation from shareholders. This note explores those unique characteristics and the usual policy reasons for requiring derivative litigation. It concludes that in most cases these unique characteristics make a derivative suit nearly impossible to sustain. Further, the normal …

Delaware’S Ban On Fee-Shifting: A Failed Attempt To Protect Shareholders At The Expense Of Officers And Directors Of Public Corporations, Ryan S. Starstrom

Brooklyn Law Review

In 2014, the Delaware Supreme Court issued its opinion in ATP Tour, Inc. v. Deutscher Tennis Bund, which held that non-stock Delaware corporations may validly enact fee-shifting provisions in their bylaws and certificate of incorporation. Subsequently, the Delaware Legislature, fearing that the ATP Tour decision would extend to stock corporations, amended Title 8 of the Delaware Code (DGCL) Sections 102(f) and 109(b). These amendments provide for a blanket prohibition of fee-shifting provisions in a Delaware corporation’s certificate of incorporation or bylaws, respectively, in regard to “internal corporate claims.” Such a prohibition eliminates the possibility for a Delaware corporation to enact …

To Fund Or Not To Fund: Deficiencies In The Wisconsin Crowdfunding Act That Hamper The Viaiblity Of Intrastate Crowdfunding, Andrew S. Hovestol

Marquette Law Review

"Crowdfunding," which is described as "the practice of . . . soliciting [financial] contributions from a large number of people especially from the online community," has recently taken the financial world by storm through the advent of websites like "Kickstarter," "Fundable," "IndieGogo," "Razoo," and "Appbackr." Such websites provide a marketplace whereby companies, small businesses, and entrepreneurs looking for startup capital can solicit funding from individual investors. The concept is relatively straightforward: project creators initiate a profile that includes informative bits like short videos, a brief synopsis of the project, and images to further showcase the project. Each project has a …

Fiduciary Duties In The Wisconsin Close Corporation: Time To Set The Law Straight, Sara C. Mcnamara

Marquette Law Review

With the evolution of new and modified business entities in today's society, it is becoming increasingly difficult to determine when and what fiduciary duties arise. It has been well accepted for many years that partners owe each other fiduciary duties, and it has also been well accepted that shareholders in large, public corporations do not owe any fiduciary duties. However, an issues arises when determining what fiduciary duties are owed by shareholders of a closely held corporation. Although the closely held corporation is incorporated just like the public corporation, the stockholders in the closely held corporation often end up behaving …

Corporate Governance, Compliance, Social Responsibility, And Enterprise Risk Management In The Trump/Pence Era, Marcia Narine Weldon

Articles

No abstract provided.

Market Information And The Elite Law Firm, Elisabeth De Fontenay

Faculty Scholarship

As a subcategory of contract negotiations, corporate transactions present information problems that have not been fully analyzed. In particular, the literature does not address the possibility that parties may simply be unaware of value-increasing transaction terms or their outside option. Such unawareness can arise even for transactions that attract many competing parties, if the bargaining process is such that (1) the price terms are negotiated and fixed prior to the non-price terms, contrary to the standard assumption; and (2) some of the non-price terms remain private for some period of time.

A simple bargaining model shows that, when such unawareness …