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Volume 48 Masthead, Seattle University Law Review

Seattle University Law Review

Volume 48 Masthead

Voting Matters: Materiality Considerations And The Shareholder Vote, Renee M. Jones

Seattle University Law Review

For the shareholder franchise to have meaning, shareholders must have access to relevant information to inform their voting decisions. The securities laws’ disclosure requirements play an essential role in informing the shareholder vote.

This Essay focuses on the question of the materiality of information in the context of shareholder voting. It addresses the question of whether ESG-related information is material, positioning the materiality inquiry within the context of shareholders’ voting decisions. It explores the definition of materiality with a focus on the “reasonable investor” concept embedded within the definition. The Essay argues that the implicit expectations of many commentators that …

Volume 48 Masthead, Seattle University Law Review

Seattle University Law Review

Volume 48 Masthead

Understanding The Big Three’S Wavering Support Of Environmental And Social Shareholder Proposals, Jeff Schwartz, Jefferson Jensen

Seattle University Law Review

Because of their substantial equity portfolios, BlackRock, Vanguard, and State Street (the Big 3) are central players in corporate governance. It is, therefore, critical to understand how they vote. One puzzle is that their support for shareholder proposals on environmental and social matters appears to waiver. In 2020, for instance, BlackRock supported 11.1% of environmental proposals at S&P 500 firms. In 2021, it seemingly reversed course, supporting 55.2%. It then flipped again, supporting 32.1% in 2022. Such statistics suggest that the Big 3 are constantly changing their views on these topics. This Article seeks to better understand whether this is …

Volume 48 Masthead, Seattle University Law Review

Seattle University Law Review

Volume 48 Masthead

An Impossible Task: Enforcing Disclosure Requirements In A Multi-Billion Dollar Industry, Keelin Ferris

Catholic University Journal of Law and Technology

Users of the first global social network, MySpace, could have never imagined that a mere twenty years later, teenagers could be millionaires making thirty-second videos out of their parents’ basement. Social media platforms have blossomed and advanced to an unpredictable level in a short amount of time. The growth of TikTok, surpassing one billion users, has been one of the most substantial contributors to the change in landscape.[1] In 2025, “social media influencers” come in all shapes and sizes.[2] Social media users can scroll through Instagram reels and stumble upon their fellow PTA member, co-worker, or grandmother promoting …

Table Of Contents

Catholic University Journal of Law and Technology

No abstract provided.

Masthead

Catholic University Journal of Law and Technology

No abstract provided.

Smart Contracts Are Neither Smart Nor A Contract: The Case Against Smart Contract Utilization In Everyday Consumer Or Commercial Transactions, Jim Moye

Catholic University Journal of Law and Technology

No doubt, most of us have gone into a local electronics store or ordered a new gadget from an online provider. After purchasing the gadget, we are eager to start operating the new purchase. Before fully utilizing the gadget, however, there are a series of screens requiring the user to read, acknowledge, and consent to, various clauses. If this process is not completed, the user is denied full access to the gadget. Thereafter, entry is granted, and the user is free to utilize the electronic device. This is a prime example of utilizing technology to automate a process that would …

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 …

From Cigarettes To Cereal: Analyzing The Rise, Peak, And Fall Of Ultra-Processed Foods And The Legal Battle Against Industry Food Deception, Charlotte F. Baird

SMU Science and Technology Law Review

This Comment explores the legal, regulatory, and public health dimensions of ultra-processed foods (UPFs) in the United States and abroad, revealing the urgent need for comprehensive reform. It traces the historical evolution of UPFs, exposing how Big Tobacco strategically pivoted into the food industry after facing public backlash and regulatory crackdowns with cigarettes and tobacco products. Using the same research tactics, behavioral manipulation, and aggressive marketing practices once employed to sell cigarettes, Big Tobacco companies repurposed their corporate expertise to engineer food designed for potential addiction, overconsumption, and profit, while often targeting children and marginalized communities. This Comment critically examines …

Incremental Innovation, George Horvath

SMU Science and Technology Law Review

Transformative innovations—the ones that use new technologies to disrupt the world—command our attention. But most new products are the result of a more mundane process of incremental iterative innovation, evolving through a long series of small modifications of existing technologies. Although both kinds of innovation can result in improved safety and utility, both can also create new dangers. We tend to be more aware of this in trans- formative innovations (as current worries over artificial intelligence show); by contrast, dangers created by incremental iterative innovation often go unrecognized, because the process itself is easy to overlook. Policymakers and regulators need …

Shutting Down The Supply Chain Pipeline Of Counterfeit Goods Running From Alibaba To Amazon, Daniel C. Chow

SMU Science and Technology Law Review

An immense supply chain pipeline constantly funnels millions of counterfeit goods from Alibaba’s e-commerce sites in China to third party sellers who sell these goods on Amazon to U.S. consumers. Amazon has acknowledged that it has a problem with counterfeits on its e-commerce sites, but its current responses to counterfeiting are primarily performative and intended to pacify disgruntled brand owners and frustrated consumers. Amazon’s responses will likely have little or no effect on counterfeits on its websites. This Article sets forth a direct and straightforward method for shutting down or seriously disrupting this pipeline based on using China’s existing laws. …

Disenchanting Consent, Ruifeng Song

SMU Science and Technology Law Review

Despite being criticized as a flawed mechanism for data protection, con- sent has witnessed a revival in the recent wave of state privacy statutes. One factor that contributed to the revival may be the widely held belief that con- sent constitutes the “cornerstone” of data privacy laws. This Article conducts a comparative historical survey to examine the validity of this belief. The findings are twofold. First, contrary to what many believe, consent has been playing a limited role in global data privacy laws. Second, consent is an inherently defective mechanism for data protection. Some of its problems have existed since …

It Is Our Flaws That Make Us Humane: How Technology Ruined Judicial Craft, Shai Dothan, Gregor Maučec

SMU Science and Technology Law Review

There is ample evidence that people are not completely rational. They suffer from a series of biases that limit their abilities to make the best decisions and to stick to them. Judges are a unique group of people. They go through many years of training that counter some of these biases, but not all of them. In fact, there is a whole field of research dedicated to predicting how judges, with their human flaws, are going to behave. But today, judges can use an increasing number of artificial intelligence (AI) tools to assist with their craft, particularly with research and …

Regulation To Reinforce The Evidentiary-Science Base Of U.S. Medicine In The Age Of "Omics", Michael J. Malinowski

SMU Science and Technology Law Review

United States’ technology transfer law and policy (TTLP) integrates government, academia, and industry—a “triple-threat” research and development (R&D) methodology—and harnesses commercial incentives to stimulate market application of federal government-funded invention. TTLP, which has proven a potent catalyst for remarkably prolific biomedical R&D since Congress enacted its cornerstone legislation in 1980, is transforming U.S. medicine to molecular medicine—to personal genome medicine (PGM)—in real time. A genomics (gene function in the context of an organism’s entire genome, meaning its full set of genetic instructions) complement to the Human Genome Project (HGP) emerged in the 1990s. Genomics has given rise to a portfolio …

Top Ten Biotechnology Patent Cases Of 2024: Loper Bright, Federal Circuit Turmoil, Patent Term Adjustment, And Naturally Occurring Nucleic Acids, Kevin E. Noonan, Andrew W. Torrance

SMU Science and Technology Law Review

A pivotal year for biotechnology patent law, 2024 was marked by consequential court rulings and evolving legal frameworks. This article surveys the ten most significant judicial decisions impacting biotech patents, highlighting major themes and trends in policy, litigation, and regulation. Courts at all levels grappled with core patentability requirements in the life sciences, from the Supreme Court’s continued laissez-faire stance on subject-matter eligibility to the Federal Circuit’s stringent enforcement of disclosure sufficiency rules.

The Second Life Of Information, Thomas D. Haley

UF Law Faculty Publications

Information permeates every aspect of modern life. It is the price we pay for access to online services and the form in which we embody creative works. Law and policymaking tend to focus on first-order uses and transactions; information for access serves as the paradigmatic example. But information enjoys a robust second life—one that constitutes the true value and power that drives firms’ decisionmaking—as assets. Once aggregated and assetized, the power and risk associated with information increases exponentially.

To explore the implications of information’s second life, this Article introduces the concept of “untethered information.” Assetization depends on severing the connections …

Boden Lecture: Taxation Of Autonomous Artificial Intelligence, Reuven S. Avi-Yonah, Lucas Brasil Salama, Herbert Snitz, W. Robert Thomas

Articles

This Article proposes that tax can be a useful supplement to other measures to regulate Autonomous Artificial Intelligence (AAI) and limit its potential harmful effects. This proposal differs from command-and-control regulation of AAI along the lines of European Union legislation that may unduly limit the development of AAI. It also differs from existing proposals to tax AAI to generate revenue to help workers displaced by AAI programs, or to tax the data used by AAI The proposal is based on granting AAI programs like ChatGPT separate legal personhood, like corporate personhood, while incentivizing or requiring their corporate owner to place …

Front Matter

SMU Science and Technology Law Review

No abstract provided.

Front Matter

SMU Science and Technology Law Review

No abstract provided.

Debugging The Trademark Laws Part Ii: Criminal Penalties For Trafficking In Counterfeit Microelectronics, Patricia E. Campbell

SMU Science and Technology Law Review

Counterfeit microelectronics have been a persistent problem in government and industry supply chains for many years. Counterfeit electronic parts (e.g., integrated circuits, transistors, capacitors) pose serious risks to human health and safety, harm the economy, and jeopardize national security. Trafficking in counterfeit goods and services was first criminalized in 1984, and Congress has acted on several occasions to increase the corresponding penalties. Nevertheless, the trade in counterfeit microelectronics continues to evolve to meet market demands, and relatively few criminal cases have been brought for trafficking in counterfeit microelectronics. While several factors may contribute to this apparent lack of enforcement, the …

The Artificial Intelligence Trolley Problem: Governance In The Post-Chevron World, James M. Cooper, Kashyap Kompella

SMU Science and Technology Law Review

This Essay addresses a growing Constitutional challenge in public governance: the increasing delegation of consequential decisions to algorithmic systems that encode value trade-offs between liberty and security, equity and efficiency, and expression and control, without visibility, legal justification, or institutional oversight. We view this hidden normative choice an example of the “Artificial Intelligence (AI) Trolley Problem.” Like the classic moral dilemma, it involves unavoidable sacrifices among competing goods. Unlike its philosophical counterpart, however, algorithmic trade-offs occur silently. They are embedded in data proxies, optimization logic, and model design, and insulated from scrutiny by claims of technical neutrality. This Essay argues …

Systemic Risk And The Social Contract, Kevin Frazier

SMU Science and Technology Law Review

The stability of the constitutional order turns, in part, on a stable economy and reliable advances in technology. Political order cannot withstand economic collapse or a massive technological failure. Such crises chip away at the collective will to adhere to the social contract because they indicate the government may not have the capacity to uphold its end of the bargain—protecting individual liberty from broad threats. “Unprecedented” economic downturns, however, have a precedent of emerging from the very deliberate decision of some actors to pursue extremely risky behavior in their self-interest at the expense of the public. Societal disruption from over-dependence …

Retail Innovation Through Ai: Benefits And Liabilities, W. Michael Schuster, Simon E. Corrigan

SMU Science and Technology Law Review

This article investigates the transformative capabilities of artificial intelligence (AI) within the retail industry. We highlight significant opportunities for product customization, innovation, and enhanced supply chain efficiency, while also examining complex legal challenges associated with AI-generated content. In particular, concerns in the copyright realm are highlighted— including documented biases against AI-produced works. Recognizing these issues, retailers should adopt proactive legal strategies, ensure transparency, and consider hybrid human-AI collaborative approaches. Strategically addressing these issues will help maximize consumer and business benefits while mitigating legal exposure.

Robot Regulators, Brian L. Frye

SMU Science and Technology Law Review

No abstract provided.

Visual Legal Rhetoric In The Age Of Generative Ai And Deepfakes: Renaissance Or Dark Ages?, Michael D. Murray

SMU Science and Technology Law Review

The paradoxical development of visual generative AI tools, such as OpenAI’s DALL-E 3, Midjourney, and Stable Diffusion, simultaneously signals a renaissance and a potential dark age in visual rhetoric and communication. On the one hand, these tools democratize the creation of visual content, empowering attorneys and others to become artists and illustrators of their legal communications without needing to learn how to draw. These AI systems can simplify complex legal concepts, bridge language barriers, and enhance advocacy. But on the other hand, the proliferation of deepfakes presents significant challenges for visual rhetoric. Deepfakes can quickly and easily create realistic but …

Willful Ignorance Or Embracing Ai To Find Prior Art? Uspto Misses The Mark, Henry H. Perritt Jr.

SMU Science and Technology Law Review

Artificial intelligence (AI) is frequently in the news. Policymakers and business executives must decide whether it is a revolutionary phenomenon, likely to overturn established enterprises and practices, or if it is a mere modest advancement in decades-old natural language capability over-advertised by Silicon Valley seeking the “next big thing” and hyped by reporters eager for the next byline. The patent office and the patent bar are not immune from the turmoil. The USPTO has issued several policies and inquiries related to the impact of AI on various aspects of patent prosecution. Most recent is a Request for Comments on the …

Data Privacy In K-12 Education: Protecting Students In The 21st Century, Kate Hughes

SMU Science and Technology Law Review

Connectivity has come to define a new generation, with kids today comprising a large sector of the online community. With most of their days spent at school, it is no surprise that the 21st-century classroom has become a playground in the digital sense, with districts growing increasingly reliant on “EdTech” platforms that promise high-impact solutions to an industry entrusted with laying the foundations of the next generation. As the “big data” movement continues to progress, the education sector will continue to reinvent itself alongside the chance to discover new efficiencies and create new opportunities for timely feedback, individualized instruction, and …