Marketing Law Commons^™

How Algorithmic Trading Undermines Efficiency In Capital Markets, Yesha Yadav

Vanderbilt Law Review

This Article argues that the rise of algorithmic trading undermines efficient capital allocation in securities markets. It is a bedrock assumption in theory that securities prices reveal how effectively public companies utilize capital. This conventional wisdom rests on the straightforward premise that prices reflect available information about a security and that investors look to prices to decide where to invest and whether their capital is being productively used. Unsurprisingly, regulation relies pervasively on prices as a proxy for the allocative efficiency of investor capital. Algorithmic trading weakens the ability of prices to function as a window into allocative efficiency.

This …

How Algorithmic Trading Undermines Efficiency In Capital Markets, Yesha Yadav

Vanderbilt Law School Faculty Publications

This Article argues that the rise of algorithmic trading undermines efficient capital allocation in securities markets. It is a bedrock assumption in theory that securities prices reveal how effectively public companies utilize capital. This conventional wisdom rests on the straightforward premise that prices reflect available information about a security and that investors look to prices to decide where to invest and whether their capital is being productively used. Unsurprisingly, regulation relies pervasively on prices as a proxy for the allocative efficiency of investor capital.

Algorithmic trading weakens the ability of prices to function as a window into allocative efficiency. This …

First Amendment; Freedom Of Speech; Commerical Speech And Advertising; Metpath, Inc. V. Imperato, Sheryl S. Kantz

Akron Law Review

"The decision of Metpath, Inc. v. Imperato is indicative of the growing trend of the judiciary toward affording "commercial speech" the protective shield of the first amendment. As shown by Metpath, where the concern is advertising by a medical clinic, speech with commercial overtones is afforded protection where a public interest in the subject and content of the speech is demonstrated. However, the perimeters of such protection have not been defined by this or previous decisions."

In All Fairness: Using Political Broadcast Access Doctrine To Tailor Public Campaign Fund Matching, Andrew V. Moshirnia, Aaron T. Dozeman

University of Michigan Journal of Law Reform

Recent United States Supreme Court decisions have undermined the viability of campaign public financing systems, a vital tool for fighting political corruption. First, Citizens United v. FEC allowed privately financed candidates and independent groups to spend unlimited amounts of money on campaigning. Publicly financed candidates now risk being vastly outspent. Second, Arizona Free Enterprise Club’s Freedom PAC v. Bennett invalidated a proportional fund matching system whereby privately financed candidates’ or independent groups’ spending triggered funds to publicly funded candidates. These decisions effectuate a libertarian speech doctrine: all speakers, individual or corporate, must be absolutely unburdened. To comply with this approach, …

Legal Problems In Data Management: It & Privacy At The Forefront: Drafting And Implementing Effective Social Media Policies In The Workplace, 31 J. Marshall J. Info. Tech. & Privacy L. 549 (2015)

UIC John Marshall Journal of Information Technology & Privacy Law

No abstract provided.

Effectively Regulating E-Cigarettes And Their Advertising—And The First Amendment, Eric N. Lindblom

O'Neill Institute Papers

If tobacco smoking did not exist in the United States, there would be no reason, from a public health perspective, to allow addictive, nicotine-containing e-cigarettes to be marketed and sold. Because e-cigarette use, by itself, is neither beneficial nor benign to users and nonusers, the only public health justification for allowing e-cigarettes in the existing U.S. market would be if doing so would not sustain or increase existing smoking levels but would help smokers quit completely or provide addicted smokers a less harmful way to obtain the nicotine they crave. Yet e-cigarettes are now pervasive in the U.S. market, being …

Parody In Trademark Law: Dumb Starbucks Makes Trademark Law Look Dumb, 14 J. Marshall Rev. Intell. Prop. L. 143 (2015), Deborah Kemp, Lynn Forsythe, Ida Jones

UIC Review of Intellectual Property Law

Comedian Nathan Fielder opened a coffee shop which looked like a Starbucks, but he put the word “dumb” in front of the Starbucks name. Fielder justified his behavior based on the argument that he had created a parody of Starbucks. This article explores when a parody of a trademark may be entitled to protection under the First Amendment. If so, what are the limits of this protection, especially when a trademark holder argues that the parody is diluting his or her trademark by either blurring or tarnishment? The article analyzes federal statutes and judicial decisions. It concludes with recommendations to …

Bad News Birkins: Counterfeit In Luxury Brands, 14 J. Marshall Rev. Intell. Prop. L. 249 (2015), Colleen Jordan Orscheln

UIC Review of Intellectual Property Law

The luxury fashion industry spends millions of dollars each year fighting counterfeits, yet a fake Louis Vuitton bag is easily purchased on street corners around the world. Proponents of the counterfeits argue that the fakes translate to advertising for the brands, while the luxury brands argue that it damages the future of their brand. The counterfeit market has been linked to child labor, human trafficking, organized crime, and some terrorist groups. The current federal civil and criminal statutes exclude purchasers from prosecution and instead focus on the distributors of the goods. This comment proposes the strengthening of these laws by …

Troubleshooting Legal Malfunction: Lexmark And Consumer Standing Under The Lanham Act, 48 J. Marshall L. Rev. 453 (2015), Jeremy Rovinsky

UIC Law Review

This article suggests that the recent Lexmark decision, while resolving the confusion relating to Lanham Act standing requirements, does nothing to protect those most vulnerable—the consumers. Congress must explicitly declare that consumers have standing under the Lanham Act when they have been damaged by purchasing falsely represented goods or services. Section I provides a history of the Lanham Act and illustrates how different courts initially allowed and then precluded consumers from bringing claims under Section 43(a)’s “any person” language. Section II critiques the opinions that have found no consumer standing, including the Supreme Court’s recent Lexmark decision. Section III highlights …

The Lanham Act's Wonderful Complement To The Fdca: Pom Wonderful V.Coca-Cola Enhances Protection Against Misleading Labeling Through Integrated Regulation, Jennifer Thurswell Radis

Loyola University Chicago Law Journal

POM Wonderful sued Coca-Cola under the Lanham Act claiming that it suffered losses due to the misleading label on Coca-Cola’s Minute Maid brand’s Pomegranate Blueberry juice blend. Reversing the Ninth Circuit’s decision in June 2014, the Supreme Court found that POM’s claim was not precluded even though the label was regulated by the FDCA. In fact, the Court acknowledged the complementary nature of private enforcement with FDA regulation, as it did in Wyeth v. Levine in 2009. This Article submits that POM exemplifies the Court’s willingness to strengthen the Lanham Act’s protections against misleading labeling, as it did the same …

A "Faustian Pact"? Native Advertising And The Future Of The Press, Lili Levi

Articles

As technology undermines the economic model supporting the traditional press, news organizations are succumbing to the siren call of "native advertising" – a new marketing technique for unobtrusively integrating paid advertising into editorial content. Brands are increasingly turning to native ads to preempt consumers' well-documented ad avoidance. Although the native advertising model debuted on digital-native news sites, it is now ubiquitous in elite legacy media as well. Everyone knew "native" had arrived for good when the venerable New York Times not only introduced its online "Paid Post," but incorporated sponsored content in its print editions, and even hired an in-house …

Who Owns Ellen's Oscar Selfie? Deciphering Rights Of Attribution Concerning User Generated Content On Social Media, 14 J. Marshall Rev. Intell. Prop. L. 564 (2015), Michael Reed

UIC Review of Intellectual Property Law

One of the most memorable moments of the 2014 Academy Awards was Ellen DeGeneres’s famous selfie taken with Bradley Cooper, Meryl Streep, and other famous friends. This so-called “Oscar Selfie” has been estimated to be worth millions of advertising dollars for the event’s sponsor, Samsung. DeGeneres’ use of selfies as a promotional tool was novel method of documenting Hollywood’s greatest night which proved an undeniable successful. However, the fact that Bradley Cooper actually captured the Oscar Selfie raises a number of important questions about how user-generated content distributed through social media fits into existing intellectual property law. At the heart …

The Conflict Between An Athlete’S Right Of Publicity And The First Amendment, 15 J. Marshall Rev. Intell. Prop. L. 117 (2015), Edward Kuester

UIC Review of Intellectual Property Law

The recent rise of fantasy sports has created a conflict between an athlete’s right of publicity and the First Amendment of the Constitution. The legal question being discussed is whether athletes have a right of publicity in their identity, specifically their performance statistics and biographical information. If a right of publicity violation does exist, courts will have to determine whether a fantasy provider’s First Amendment privilege can prevail against an athlete’s publicity rights. This comment examines recent litigation surrounding athletes’ identities and the problems courts have in balancing the conflict between an athlete’s right of publicity and the First Amendment. …

Fixing Failure To Warn, Aaron D. Twerski, James A. Henderson Jr.

Cornell Law Faculty Publications

Design-defect and failure-to-warn cases share the same structural elements. Just as the defendant cannot defend a case premised on defective design without knowing the specifics of how the plaintiff would redesign the product to make it safer, so with regard to defective warnings the plaintiff cannot challenge the reasonableness of the defendant's marketing or whether better warnings would have saved the plaintiff from injury without knowing the specifics of the proposed warnings. No court would accept as adequate a statement by the plaintiff that she has a general idea for a reasonable alternative design (RAD), and no court should accept …