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Articles 361 - 390 of 403
Full-Text Articles in Organizations Law
The Agency Cost Paradigm: The Good, The Bad, And The Ugly, Claire A. Hill, Brett H. Mcdonnell
The Agency Cost Paradigm: The Good, The Bad, And The Ugly, Claire A. Hill, Brett H. Mcdonnell
Seattle University Law Review
In the “managerialist” world that preceded our present shareholder value world, some corporate managers could, and did, help themselves when they should have been doing their jobs. The modern agency cost paradigm has focused attention on this problem, in part by conceptualizing the duty of corporate managers as maximizing shareholder value. This paradigm has had a variety of effects: some good, some bad, and some ugly. The agency cost paradigm has had a good effect by focusing on the problem of managerial enrichment and providing a simple, clear benchmark—shareholder value-- that may quickly indicate when managers are performing badly. However, …
The Corporation As Time Machine: Intergenerational Equity, Intergenerational Efficiency, And The Corporate Form, Lynn A. Stout
The Corporation As Time Machine: Intergenerational Equity, Intergenerational Efficiency, And The Corporate Form, Lynn A. Stout
Seattle University Law Review
This Symposium Article argues that the board-controlled corporation can be understood as a legal innovation that historically has functioned as a means of transferring wealth forward and sometimes backward through time, for the benefit of present and future generations. In this fashion the board-controlled corporation promotes both intergenerational equity and intergenerational efficiency. Logic and evidence each suggest, however, that the modern embrace of “shareholder value” as the only corporate objective and “shareholder democracy” as the ideal of corporate governance is damaging the corporate form’s ability to serve this economically and ethically important function.
Copyright, Consumerism, And The Cloud: Proposing Standards-Essential Technology To Support First Sale In Digital Copyright, Marco Puccia
Copyright, Consumerism, And The Cloud: Proposing Standards-Essential Technology To Support First Sale In Digital Copyright, Marco Puccia
Seattle University Law Review
America’s entertainment industry, and the creative talent that drives it, is a national treasure. Equally valuable, however, is America’s drive and commitment toward technological innovation. These two sectors have been in tension since at least 1908, when the U.S. Supreme Court was asked to determine whether the makers of piano rolls for automatically playing pianos had to pay royalties to the composers. Since that time, the entertainment industry has continued to use copyright law to resist advances in technological innovation that it views as a threat to its existing business models. This Note seeks to provide the necessary context and …
Boards Of Directors As Mediating Hierarchs, Margaret M. Blair
Boards Of Directors As Mediating Hierarchs, Margaret M. Blair
Seattle University Law Review
In June of 2014, the board of directors of Demoulas Supermarkets, Inc.—better known as Market Basket, a mid-sized chain of grocery stores in New England—decided to oust the man who had been CEO for the previous six years, Arthur T. Demoulas. Most likely, the board of directors did not anticipate what happened next: Thousands of employees, customers, and fans of Market Basket boycotted the stores and staged noisy public protests asking the board to reinstate “Arthur T.” The reaction by employees and customers made what had been a simmering, nasty, intrafamily feud within the closely held Market Basket chain into …
The Boundaries Of "Team" Production Of Corporate Governance, Anthony J. Casey, M. Todd Henderson
The Boundaries Of "Team" Production Of Corporate Governance, Anthony J. Casey, M. Todd Henderson
Seattle University Law Review
We examine the cooperative production of corporate governance. We explain that this production does not occur exclusively within a “team” or “firm.” Rather, several aspects of corporate governance are quintessentially market products. Like Blair and Stout, we view the shareholder as but one of many stakeholders in a corporation. Where we depart from their analysis is in our view of the boundaries of a firm. We suggest that they overweight the intrafirm production of control. Focusing on the primacy of a board of directors, Blair and Stout posit a hierarchical team that governs the economic enterprise. We observe, however, that …
Hostile Takeovers And Overreliance, Anthony Niblett
Hostile Takeovers And Overreliance, Anthony Niblett
Seattle University Law Review
Commentators have argued that employees should be compensated in the event of a hostile takeover; otherwise, the threat of such a takeover will fail to incentivize firm-specific investments by employees. Such deferred compensation is analogous to the payment of damages following a breach of contract. The analogous breach, here, is the breach of an implicit contract between management and employees. Employees trusted management to compensate them for firm-specific investments not explicitly contracted for. This Article uses a familiar result from the contract law literature: There is no measure of damages for breach of contract that can generate both efficient breach …
Litigating Consumer Protection Acts In The Hamp Context, Amanda Martin
Litigating Consumer Protection Acts In The Hamp Context, Amanda Martin
Seattle University Law Review
The foreclosure crisis has lingered despite the improving economy. To alleviate this crisis, the U.S. government implemented the Home Affordable Mortgage Program (HAMP), a Treasury-sponsored initiative that aims to prevent foreclosure by encouraging mortgage loan servicers to modify the mortgages of qualified homeowners. The Treasury Department has extended HAMP multiple times—from its original ending date in 2013 to its present ending date in 2016. While HAMP has indeed helped homeowners avoid foreclosure, the program has spawned an array of litigation as servicer misconduct runs rampant. As the Ninth Circuit recently noted, “the [HAMP] program seems to have created more litigation …
Team Production And Securities Laws, Urska Velikonja
Team Production And Securities Laws, Urska Velikonja
Seattle University Law Review
In the seminal paper that this symposium celebrates, A Team Production Theory of Corporate Law, Margaret Blair and Lynn Stout made two related points. First, that Delaware law does not require shareholder primacy in public corporations. Rather, the broad deference afforded to the decisions of predominantly independent corporate boards of directors is consistent with a contrary theory, that of team production, or, as they call it, “the mediating hierarch” theory. The fundamental role of the board of directors is to mediate between the interests of various stakeholders that contribute to the corporation’s output. As a result, Delaware courts have repeatedly …
Lobbying, Pandering, And Information In The Firm, Adam B. Badawi
Lobbying, Pandering, And Information In The Firm, Adam B. Badawi
Seattle University Law Review
In their classic and insightful article on team production in corporate law, Margaret Blair and Lynn Stout identify the minimization of rent-seeking as one of the chief benefits of vesting ultimate authority over a firm with the board of directors. In their analysis, this problematic rent-seeking arises when parties need to divide the gains from production after the fact. The squabbling that is likely to ensue may threaten to eat away most, or all, of the gains that come from productive activity. If parties know that this sort of rent-seeking will occur, they may not engage in productive activity in …
The Team Production Model As A Paradigm, Brian R. Cheffins
The Team Production Model As A Paradigm, Brian R. Cheffins
Seattle University Law Review
Margaret Blair and Lynn Stout suggested a few years after the publication of their 1999 Virginia Law Review article, A Team Production Theory of Corporate Law, that their team production model was poised to emerge as part of a new corporate law “paradigm.” In so doing, they specifically invoked Thomas Kuhn’s well-known analysis of scientific revolutions. This Article revisits Blair and Stout’s team production theory by offering a critique of their claim that their model is destined to become a new corporate law paradigm in the Kuhnian sense. In so doing the Article draws upon key corporate law theories and …
The History Of Team Production Theory, Ron Harris
The History Of Team Production Theory, Ron Harris
Seattle University Law Review
In this short Essay, the author consider the team production theory developed by Margaret Blair and Lynn Stout1 from a historical perspective, in three senses. First, does the theory fit the historical use of the corporate form? Second, can it explain the development of corporation law doctrines? And third, can we place the development of the theory as such into the intellectual history of corporation theories at large? The author will state my bottom line up front: while the Article finds the team production theory insightful and useful for my historical research, for teaching corporation law, and for thinking about …
Team Production & The Multinational Enterprise, Virginia Harper Ho
Team Production & The Multinational Enterprise, Virginia Harper Ho
Seattle University Law Review
Margaret Blair and Lynn Stout’s path-breaking article, A Team Production Theory of Corporate Law, advances a dual thesis: first, that team production theory does a better job than its competitors (in particular, principal–agent theory) of explaining the advantages of the public corporation and key features of corporate law; and second, that, as a matter of corporate law, corporate boards are charged with advancing the collective interest of all the contributors to the corporate enterprise rather than the shareholders’ interests alone. Its central insight is that the role of the independent, or insulated, corporate board is to serve as a “mediating …
Choosing The Partnership: English Business Organization Law During The Industrial Revolution, Ryan Bubb
Choosing The Partnership: English Business Organization Law During The Industrial Revolution, Ryan Bubb
Seattle University Law Review
For most of the period associated with the Industrial Revolution in Britain, English law restricted access to incorporation and the Bubble Act explicitly outlawed the formation of unincorporated joint stock companies with transferable shares. Furthermore, firms in the manufacturing industries most closely associated with the Industrial Revolution were overwhelmingly partnerships. These two facts have led some scholars to posit that the antiquated business organization law was a constraint on the structural transformation and growth that characterized the British economy during the period. Importantly, however, the vast majority of manufacturing firms in the modern sector were partnerships. An easy explanation for …
Rico Section 1962(C) Enterprises And The Present Status Of The “Distinctness Requirement” In The Second, Third And Seventh Circuits, Lawrence A. Steckman
Rico Section 1962(C) Enterprises And The Present Status Of The “Distinctness Requirement” In The Second, Third And Seventh Circuits, Lawrence A. Steckman
Touro Law Review
No abstract provided.
Panel Ii: Global Attitudes On The Role Of The United Nations In The Maintenance And Restoration Of Peace, Louis B. Sohn
Panel Ii: Global Attitudes On The Role Of The United Nations In The Maintenance And Restoration Of Peace, Louis B. Sohn
Georgia Journal of International & Comparative Law
No abstract provided.
“Advancing With The Times: Industrial Design Protection In The Era Of Virtual Migration”, Horacio E. Gutiérrez
“Advancing With The Times: Industrial Design Protection In The Era Of Virtual Migration”, Horacio E. Gutiérrez
IP Theory
No abstract provided.
Cooperative Bargaining Styles At Fmcs: A Movement Toward Choices , Carolyn Brommer, George Buckingham, Steven Loeffler
Cooperative Bargaining Styles At Fmcs: A Movement Toward Choices , Carolyn Brommer, George Buckingham, Steven Loeffler
Pepperdine Dispute Resolution Law Journal
The Federal Mediation and Conciliation Service ("FMCS") was created in 1947. While an array of subsequent statutory enactments have expanded the FMCS charter, the core mission of FMCS has been, and remains, to assist labor and management to settle their disputes through mediation as well as to promote the development of sound and stable labor management relationships. The vision of how that mission will be realized has changed significantly in response to changes in our society, to expanded knowledge of conflict resolution and labor relations, and to lessons gathered by the nation's mediators over a half-century of work with collective …
Construction Partnering: Can These Protocols Build A Stronger Labor-Management Community?, Jim Stott, Juan Carlos Gonzalez
Construction Partnering: Can These Protocols Build A Stronger Labor-Management Community?, Jim Stott, Juan Carlos Gonzalez
Pepperdine Dispute Resolution Law Journal
In an expansive marketplace where large organizations in the construction, manufacturing, service and union industries are facing increased global competition, collaborative labor relations are essential to maximizing efficiency and productivity. It is for this reason that developing collaboration between labor and management is highly researched and consulted by academics and professionals throughout the world. Although various models of collaboration have been developed, none have been found to clearly overcome that insidious conflict and paradigm of "Labor vs. Management." The purpose of this paper is to provide academics and consultants (mediators/facilitators) an additional perspective for designing, developing and implementing the best …
Managing Workplace Grief--Vision And Necessity , Jan Jung-Min Sunoo, Brenda Paik Sunoo
Managing Workplace Grief--Vision And Necessity , Jan Jung-Min Sunoo, Brenda Paik Sunoo
Pepperdine Dispute Resolution Law Journal
In the course of offering workplace expertise, the FMCS has also presented its workshop "Managing Grief in the Workplace." The trainings have been given at local, regional, national and international labor relations and mediation conferences, and in college settings. We have found great receptivity to this cutting edge topic. Support in this area can greatly help unions and companies work through the conflicting expectations of a bereaved employee's job performance. Workshops in "Managing Grief in the Workplace" can initiate needed discussions and helping the partners to set up compassionate and realistic bereavement policies in the workplace. Finally, many participants expressed …
Battling School Violence With Mediation Technology , Gary Richard Hattal, Cynthia Morrow Hattal
Battling School Violence With Mediation Technology , Gary Richard Hattal, Cynthia Morrow Hattal
Pepperdine Dispute Resolution Law Journal
As we begin the Twenty-First Century public schools have become dangerous places, and not just high schools. Children as young as ten and eleven have brought the system to its knees by shooting down their teachers and fellow students on campus. No one is talking about "juvenile delinquency" anymore. We are hearing and talking about lethal incidents of juvenile violence among all social classes and races, suburban and inner city youth alike. This paper is a discussion of various issues surrounding school violence and its implications for our children. Our focus is to: (1) determine the root causes of extreme …
Essential Collaborative Technology Tools For The 21st Century: Fmcs Tags System , Michael J. Wolf, Jon Numair, Jack Yoedt
Essential Collaborative Technology Tools For The 21st Century: Fmcs Tags System , Michael J. Wolf, Jon Numair, Jack Yoedt
Pepperdine Dispute Resolution Law Journal
Mediators employed by the Federal Mediation and Conciliation Service ("FMCS") utilize a powerful set of technology tools that helps groups more effectively solve problems, make decisions and implement those decisions more successfully. FMCS mediators use these tools to help customers conduct collective bargaining negotiations, strategic planning sessions, grievance meetings, internal elections, large conferences, as well as remote meetings and online surveys via the Internet. Known as the FMCS TAGS System, this network of Internet servers, mobile computers, electronic conferencing facilities, customized software and external partners has demonstrated significant achievements during its first two years of operation. FMCS customers report that …
The Dispute Settlement Understanding Of The Wto Agreement: An Inadequate Mechanism For The Resolution Of International Trade Disputes, Sean P. Feeney
The Dispute Settlement Understanding Of The Wto Agreement: An Inadequate Mechanism For The Resolution Of International Trade Disputes, Sean P. Feeney
Pepperdine Dispute Resolution Law Journal
The 1994 signing of the World Trade Organization (WTO) Agreement marked the initiation of the most far-reaching and comprehensive international agreement on trade in the history of the modern world. The creation of an actual trade organization was a marked improvement over the WTO's predecessor, the 1944 GATT, which never formed an organization per se. Among the many improvements to the GATT, the WTO Agreement substantially changed the mechanism for dispute settlement whenever conflict arose between member states. This change, codified as the Dispute Settlement Understanding ("DSU"), was initially hailed as a great improvement over the GATT dispute settlement provisions. …
The Icc Prosecutor V. President Medema: Simulated Proceedings Before The International Criminal Court , Pieter H. F. Bekker, David Stoelting
The Icc Prosecutor V. President Medema: Simulated Proceedings Before The International Criminal Court , Pieter H. F. Bekker, David Stoelting
Pepperdine Dispute Resolution Law Journal
On July 18, 2000, as part of the Annual Meeting of the American Bar Association, an all star cast of American and English lawyers gathered in the Common Room of the Law Society of England and Wales in London to simulate oral argument before the International Criminal Court ("ICC"). The fictitious proceedings involved a head of state, President Luis Medema, charged with genocide, war crimes and crimes against humanity. The prosecutors and defense counsel engaged in lively oral argument before the Trial Chamber in the context of three critical issues: (1) jurisdiction of the ICC over citizens of non-state parties; …
Mexico And The Settlement Of Investment Disputes: Icsid As The Recommended Option, Bernardo Sepúlveda
Mexico And The Settlement Of Investment Disputes: Icsid As The Recommended Option, Bernardo Sepúlveda
Pepperdine Dispute Resolution Law Journal
The changes that have taken place in arbitration conditions, the greater fairness in the arbitration process, and the increasingly stringent qualifications to be met by arbitrators, as well as contemporary economic realities, have been instrumental in causing Mexico's about-face on its approach to arbitration. Although in certain quarters doubts remain in Mexico as to the advantages of international arbitration, it would be ill advised to ignore a legal and political reality. In signing treaties that include an arbitration clause, Mexico has assumed rights and obligations. Politically speaking, a border has already been crossed. In the face of this indisputable fact, …
State Legislative Efforts To Improve Access To Venture Capital, Brian K. Krumm
State Legislative Efforts To Improve Access To Venture Capital, Brian K. Krumm
Book Chapters
No abstract provided.
Answering To A Higher Authority: Sovereign-Mandated Oversight In The Board Room And The C-Suite, Thomas F. O’Neil Iii, T. Brendan Kennedy
Answering To A Higher Authority: Sovereign-Mandated Oversight In The Board Room And The C-Suite, Thomas F. O’Neil Iii, T. Brendan Kennedy
Fordham Journal of Corporate & Financial Law
The relationship between business organizations and the sovereign agencies that regulate them is being redefined domestically and abroad. In the context of corporate enforcement proceedings, a critical challenge is how to achieve, most effectively, the timehonored public sector objectives of punishment, deterrence, financial restitution and rehabilitation. At issue are important policy considerations and at stake are the integrity and security of the commercial marketplace. The public sector increasingly must balance the pressures of limited resources against the need to ensure that corporate citizens behave not only lawfully, but ethically and responsibly. One solution that has been adopted is the imposition …
Scaling The Patent System, Christina Mulligan, Timothy B. Lee
Scaling The Patent System, Christina Mulligan, Timothy B. Lee
Faculty Scholarship
No abstract provided.
Forward: The Federalization Of Nonprofit And Charity Law, Dana Brakman Reiser
Forward: The Federalization Of Nonprofit And Charity Law, Dana Brakman Reiser
Faculty Scholarship
No abstract provided.
Charity Law's Essentials, Dana Brakman Reiser
Charity Law's Essentials, Dana Brakman Reiser
Faculty Scholarship
No abstract provided.
Linking Ngo Accountability And The Legitimacy Of Global Governance, Dana Brakman Reiser, Claire R. Kelly
Linking Ngo Accountability And The Legitimacy Of Global Governance, Dana Brakman Reiser, Claire R. Kelly
Faculty Scholarship
No abstract provided.