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Full-Text Articles in Business Organizations Law

Suing In The Right Of The Corporation: A Commentary And Proposal For Legislative Reform, Lawrence A. Larose Apr 1986

Suing In The Right Of The Corporation: A Commentary And Proposal For Legislative Reform, Lawrence A. Larose

University of Michigan Journal of Law Reform

This Article is premised on the belief that the derivative action is uniquely susceptible to strike suit litigation-that is, actions with little or no substantive merit but pursued to exploit the nuisance value inherent in litigation. Although there is historic support for the notion of "pernicious and vexing" derivative litigation, some modern evidence suggests that the vast majority of publicly held companies experience no derivative litigation. Commentators, however, have questioned both the validity of the modern evidence and the conclusions derived from it. Despite these criticisms, observers of the present vitality of the derivative action, far from characterizing it as …


Corporate Social-Reform, The Business Judgment Rule And Other Considerations, Robert N. Leavell Apr 1986

Corporate Social-Reform, The Business Judgment Rule And Other Considerations, Robert N. Leavell

Scholarly Works

In recent years there has been a well-publicized movement to induce corporations to use their economic wealth and power to achieve "social-reform," rather than carry on as usual by professing to be guided only by profit-making. Social change is sought by allowing shareholders to make, or influence directly, those management decisions which significantly affect the quality of life in this country. This approach has found support on college campuses and among the commentators in this field. The Securities Exchange Commission and the courts also have endorsed this approach by legitimating such a role for shareholders despite the fact that it …


Santa Clara Revisited: The Development Of Corporate Theory, Morton J. Horwitz Jan 1986

Santa Clara Revisited: The Development Of Corporate Theory, Morton J. Horwitz

West Virginia Law Review

No abstract provided.


Depositions Of Corporations: Problems And Solutions-Fed. R. Civ. P. 30(B)(6), M. Minnette Massey Jan 1986

Depositions Of Corporations: Problems And Solutions-Fed. R. Civ. P. 30(B)(6), M. Minnette Massey

Articles

No abstract provided.


The Birth Of A Public Corporation, Jon C. Teaford Feb 1985

The Birth Of A Public Corporation, Jon C. Teaford

Michigan Law Review

A Review of Public Property and Private Power: The Corporation of the City of New York in American Law, 1730-1870. by Hendrik Hartog


Kentucky Law Survey: Corporations, Willburt D. Ham Jan 1985

Kentucky Law Survey: Corporations, Willburt D. Ham

Kentucky Law Journal

No abstract provided.


The Development Of Nonprofit Corporation Law And An Agenda For Reform, James J. Fishman Jan 1985

The Development Of Nonprofit Corporation Law And An Agenda For Reform, James J. Fishman

Elisabeth Haub School of Law Faculty Publications

This article examines the development of the law of “charitable corporations”' and attempts to explain why the charitable corporation rather than the charitable trust became the predominant organizational form for charitable and benevolent activities in the United States. It then discusses some of the inconsistencies of nonprofit corporation law and provides an agenda for future reform.


How Should We Talk About Corporations? The Languages Of Economics And Of Citizenship, James Boyd White Jan 1985

How Should We Talk About Corporations? The Languages Of Economics And Of Citizenship, James Boyd White

Articles

My immediate subject in this Comment is section 2.01 of the American Law Institute's proposed Principles of Corporate Governance (Tentative Draft No. 2), which defines in general terms the proper objectives and conduct of a business corporation. My larger subject has to do with the adequacy and inadequacy of various languages in which corporate pur­poses and limits might be expressed, and especially with the limits of the economic language used in the ALI Draft.


Disparate Tax Treatment Of Different Types Of Business Organizations: Where Should We Go From Here?, Douglas A. Kahn Jan 1985

Disparate Tax Treatment Of Different Types Of Business Organizations: Where Should We Go From Here?, Douglas A. Kahn

Articles

If several persons wish to join together in a common enterprise in order to pool their capital or labor or some of each, they may choose among a variety of available organizational structures that will serve that purpose. The most common entity forms are partnerships (including joint ventures), corporations, and trusts. While, in its typical structure, each of those entity forms has its own distinct characteristics, the structure of such organizations often is modified by agreement so as to adopt attributes of another type of entity. Because of this, the substantive distinction between entity types is blurred.


Second Generation State Takeover Legislation: Maryland Takes A New Tack, Michigan Law Review Nov 1984

Second Generation State Takeover Legislation: Maryland Takes A New Tack, Michigan Law Review

Michigan Law Review

This Note examines the approach recently adopted by the Maryland legislature in special session one year after the Supreme Court's decision in MITE. Maryland has departed radically from the regulatory approach of first generation statutes; however, this Note argues that the statute has failed to escape the constitutional infirmities of its predecessors. Part I outlines the various mechanisms that regulate acquisition of corporate control: the federal tender offer regulatory mechanism known as the Williams Act, state takeover legislation such as the Illinois statute invalidated in MITE, and the new Maryland statute. Part II analyzes the debate concerning the …


Schreiber V. Burlington Northern, Inc., Lewis F. Powell Jr. Oct 1984

Schreiber V. Burlington Northern, Inc., Lewis F. Powell Jr.

Supreme Court Case Files

No abstract provided.


Federalism And Company Law, Richard M. Buxbaum May 1984

Federalism And Company Law, Richard M. Buxbaum

Michigan Law Review

It would be a simplifying and historically dubious reduction to equate state interest in corporation law with interventionist or regulatory policies and federal interest with liberal or facilitative ones. So long as a federal legal system presupposes the continuing involvement of two governments with the same subject, however, it is only the subordinate polity's interest in intervention or regulation that makes for interesting reading. State facilitative policies in an era of national facilitative policies raise no questions, and a state's continuing adherence to laissez faire policies when the national government turns interventionist typically creates no conflict. It is only the …


New Ways In Corporate Governance: European Experiments With Labor Representation On Corporate Boards, Klaus J. Hopt May 1984

New Ways In Corporate Governance: European Experiments With Labor Representation On Corporate Boards, Klaus J. Hopt

Michigan Law Review

Corporate governance has been discussed in Europe for over 150 years. Indeed, in the 1840's, when the first Corporation Act was enacted in Prussia, three troubling features of the corporate organization form had already been discerned: (I) the vulnerability of small investors who lacked the influence and sophistication to. control the corporation; (2) the risk to creditors and the public created by the limited liability of the corporation, especially when combined with inadequate funds and poorly controlled management; and (3) the power that big corporations could amass economically, by monopolizing markets, and politically, by exerting influence on public opinion and …


Competition, Integration And Economic Efficiency In The Eec From The Point Of View Of The Private Firm, Michel Waelbroeck May 1984

Competition, Integration And Economic Efficiency In The Eec From The Point Of View Of The Private Firm, Michel Waelbroeck

Michigan Law Review

As early as 1956, experts appointed by the six original Member State governments to investigate measures to pursue integration after the failure of the European Defence Community clearly established this link between the abolition of barriers to trade and an increase in the intensity of competition. In what has come to be known as the "Spaak Report," the experts noted the technology gap then separating Europe from the United States and proposed, as a remedial measure, the creation of a ''vast zone of common economic policy, constituting a powerful production unit, and allowing a continued expansion, and increased stability, an …


The Supervision Of Corporate Management: A Comparison Of Developments In European Community And United States Law, Alfred F. Conard May 1984

The Supervision Of Corporate Management: A Comparison Of Developments In European Community And United States Law, Alfred F. Conard

Michigan Law Review

In 1971, Eric Stein published an account of the remarkable progress of the European Economic Community (EEC) toward a harmonized law of business corporations. The progress was particularly striking from an American viewpoint, because the harmonization was achieved by moving toward the more rigorous of the various national standards, in contrast to the "race of laxity" or "race for the bottom" that has characterized the movement toward uniformity in the corporation laws of U.S. states.


The Large Civil Aircraft Industry: Applying Legal Policy-Making Tools To Accommodate A Changing Industry, Dennis G. Terez Jan 1984

The Large Civil Aircraft Industry: Applying Legal Policy-Making Tools To Accommodate A Changing Industry, Dennis G. Terez

Michigan Journal of International Law

This note first examines the emergence of Airbus Industrie (Al or Airbus) and identifies some of the legal and policy instruments which the European governments have employed to make Al a successful competitor. After a brief discussion of the growing difficulties with subsidy policies, the note considers European Community legislation for a common European industrial policy and the creation of a European Export Bank as possible alternative solutions for maintaining Al's competitiveness. The note finally argues that international industrial agreements are necessary legal tools for effective regulation of the manufacture and sale of large civil aircraft. International agreements currently in …


The United States Specialty Steel Industry, Michael H. Leb Jan 1984

The United States Specialty Steel Industry, Michael H. Leb

Michigan Journal of International Law

Part I of this note briefly describes the problems of the specialty steel industry and traces the attempts to deal with those problems from 1968 through the imposition of the relief measures which spawned the current negotiations. After discussing the trade history of the specialty steel industry, the note examines the effectiveness of two domestic import relief statutes through which the government has attempted to assist the industry. The note then analyzes U.S. attempts to aid the specialty steel industry through measures which violate the fundamental principles of the GATT system. The note concludes that since the GATT system cannot …


Foreign Investment Laws In Developing Countries, Jane E. Cross Jan 1984

Foreign Investment Laws In Developing Countries, Jane E. Cross

Michigan Journal of International Law

Rather than extensively analyzing the various laws of Argentina, Mexico, and Nigeria that are specifically designed to encourage foreign investment, this note endeavors to explain how the laws of these countries that have as the primary function the monitoring and restricting of foreign investment activity are able to refrain from severely discouraging the foreign investment needed to promote industrialization. The tendency of LDCs to liberalize their restrictive foreign investment laws over the last few years demonstrates the growing importance of minimizing the adverse impact of legal constraints on foreign capital investment.


The Role Of Planning Contracts In The Conduct Of French Industrial Policy, Saul Estrin, Peter M. Holmes Jan 1984

The Role Of Planning Contracts In The Conduct Of French Industrial Policy, Saul Estrin, Peter M. Holmes

Michigan Journal of International Law

The French have a long history of state economic planning, of comprehensive industrial policy, and of contractualised relations between the state and firms, though the links between them have not always been close. In the following section we review the relevant history of French planning and industrial policy. We focus in the second section on the development of contractual relations between corporations and the state in postwar France until the Socialists took office in 1981. In the third section we discuss recent developments, and we conclude with a theoretical appraisal of the experience.


Whither The Future Of Japanese Industrial Development Policies?, Merit E. Janow Jan 1984

Whither The Future Of Japanese Industrial Development Policies?, Merit E. Janow

Michigan Journal of International Law

This article describes past and present Japanese industrial policies. After discussing the evolution of Japanese industrial policies generally, it addresses the specific instruments of those policies including those intended to assist declining industries as well as those intended to promote the development of new industries. Finally, this article suggests that government guidance of Japan's industrial sector has decreased and is likely to decrease further still in the future.


Canada's Foreign Investment Review Act And The Problem Of Industrial Policy, James M. Spence Q.C. Jan 1984

Canada's Foreign Investment Review Act And The Problem Of Industrial Policy, James M. Spence Q.C.

Michigan Journal of International Law

The purpose of this article is to consider the Foreign Investment Review Act (FIRA or the Act) of Canada in the context of the continuing discussion in North America of the concept of "industrial policy." The particular version of industrial policy of interest for this purpose is the concept which involves interventionist activity by the government designed to affect directly the economic activity of an industry, company, or plant. The first part of the article briefly describes the background and operation of FIRA. The second part comments on the concept of interventionist industrial policy as it has developed in Canada. …


Investment Incentives And Guarantees In The Republic Of China, The Republic Of Korea, Thailand, And The People's Republic Of China, Barbara J. Martin Jan 1984

Investment Incentives And Guarantees In The Republic Of China, The Republic Of Korea, Thailand, And The People's Republic Of China, Barbara J. Martin

Michigan Journal of International Law

This note will focus on direct investment in four countries in Southeast Asia: the Republic of China (ROC), the Republic of Korea (ROK or South Korea), Thailand, and the People's Republic of China (PRC). Despite similar goals, these four countries differ significantly in their treatment of foreign investors.


Industrial Policy In The Field Of Informatics In Brazil, Walter Douglas Stuber Jan 1984

Industrial Policy In The Field Of Informatics In Brazil, Walter Douglas Stuber

Michigan Journal of International Law

This article first presents a brief overview of Brazilian industrial development. This overview provides a basis for understanding how the Brazilian Government's informatics policy differs from past Brazilian industrial models. The article then describes the Brazilian Government's policy in the field of informatics. It concludes that a policy which is less protectionist than the government's current program would, through allowing greater foreign participation in the market, better encourage the development of Brazilian informatic companies.


The Impact Of Industrial Legislation On The Behavior Of Multinational Enterprises And Labor In The Industrializing Countries Of East And Southeast Asia, Kojo Yelpaala Jan 1984

The Impact Of Industrial Legislation On The Behavior Of Multinational Enterprises And Labor In The Industrializing Countries Of East And Southeast Asia, Kojo Yelpaala

Michigan Journal of International Law

The phenomenon of industrial legislation is not new in the world. Several industrialized, non-industrialized, capitalist, and socialist countries all have at different stages in their development used industrial legislation for the achievement of industrial goals, development targets and national welfare objectives. This legislation has generally addressed labor relations, taxes, plant location, exchange controls, and capital controls. What is perhaps new is its focus on the behavior of Multinational Enterprises (MNE). The emergence of the MNE on the world economic scene has introduced an elusive but important element in the industrial policy calculus of nations.


Employee Involvement In Decision-Making: European Attempts At Harmonization, Ruth A. Harvey Jan 1984

Employee Involvement In Decision-Making: European Attempts At Harmonization, Ruth A. Harvey

Michigan Journal of International Law

Part I of this note examines the sources of Community power over employment policy. Part II analyzes two Community directives approximating laws regarding employee involvement in dismissal procedures. It also examines the impact of these Community directives on two Member States, the Federal Republic of Germany (FRG or West Germany) and the United Kingdom. The note focuses on the FRG because its statutes have served as the model for Community directives, and because the harmonization of laws throughout the Community will provide unique benefits to the FRG. The note examines the United Kingdom because its government has historically had a …


Daily Income Fund, Inc. V. Fox, Lewis F. Powell Jr. Oct 1983

Daily Income Fund, Inc. V. Fox, Lewis F. Powell Jr.

Supreme Court Case Files

No abstract provided.


Close Corporations And Private Companies Under American And English Law: Protecting Minorities, Stephen J. Leacock Oct 1983

Close Corporations And Private Companies Under American And English Law: Protecting Minorities, Stephen J. Leacock

University of Miami Inter-American Law Review

No abstract provided.


Limiting The Use Of The Rico Act As A Defense To Hostile Corporate Takeovers, Mary Ann Lesniak Oct 1983

Limiting The Use Of The Rico Act As A Defense To Hostile Corporate Takeovers, Mary Ann Lesniak

University of Michigan Journal of Law Reform

This Note argues that RICO could be a legitimate defense to a hostile corporate takeover pursuant to a cash tender off er if shareholders who retain stock will be harmed by the takeover. Part I of this Note examines the general background of the RICO Act. Part II applies the Act to a hostile cash tender offer and examines each element of a civil RICO action. Part III advocates the use of RICO's injury requirement to limit this application of the Act and analyzes the potential injuries to shareholders and management during a hostile cash tender offer. This limitation upon …


European Merger Control: Legal And Economic Analyses On Multinational Enterprises, Volume 1, Michigan Law Review Mar 1983

European Merger Control: Legal And Economic Analyses On Multinational Enterprises, Volume 1, Michigan Law Review

Michigan Law Review

A Review of European Merger Control: Legal and Economic Analyses on Multinational Enterprises, Volume 1 edited by Klaus Hopt


Kentucky Law Survey: Corporations, Willburt D. Ham Jan 1983

Kentucky Law Survey: Corporations, Willburt D. Ham

Kentucky Law Journal

No abstract provided.