Agency Commons^™

Free Agents: Should Crowdsourcing Lead To Agency Liability For Firms?, Erin R. Frankrone

Vanderbilt Journal of Entertainment & Technology Law

Crowdsourcing has emerged as a new production paradigm through which firms outsource traditional employee tasks to an undefined and generally large network of people, the "crowd," in the form of an open call. The relationships between the crowd and the firm vary across different crowdsourcing models and do not represent, either in fact or in theory, the employment or contractor relationships with which the law is familiar. Therefore, the law and the courts are ill-equipped to answer the questions of whether and how liability should attach to firms for the crowd's harmful conduct toward third parties. Agency law is the …

Owning Stock While Making Law: An Agency Problem And A Fiduciary Solution, Donna M. Nagy

Articles by Maurer Faculty

No abstract provided.

Imputation, The Adverse Interest Exception, And The Curious Case Of The Restatement (Third) Of Agency, Mark J. Loewenstein

Publications

The imputation doctrine in the common law of agency provides that knowledge of an agent acquired in the course of the agency relationship is imputed to the principal. An important exception to the imputation doctrine, known as the adverse interest exception, provides that knowledge is not imputed if it is acquired by the agent in a course of conduct that is entirely adverse to the principal. These doctrines play an important role in sorting out liability when senior management of a corporation engages in a financial fraud that harms the company. Typically, new management is brought in and it sues …

A Theory Of Representative Shareholder Suits And Its Application To Multijurisdictional Litigation, Randall Thomas, Robert B. Thompson

Vanderbilt Law School Faculty Publications

We develop a theory to explain the uses and abuses of representative shareholder litigation based on its two most important underlying characteristics: the multiple sources of the legal rights being redressed (creating dynamic opportunities for arbitrage) and the ability of multiple shareholders to seek to represent the collective group in such litigation (creating increased risk of litigation agency costs by those representatives and their attorneys). Placed against the backdrop of controlling managerial agency costs, our theory predicts that: (1) the relative strength of the different forms of shareholder litigation will shift over time; (2) these shifts can result in new …

The Talent Agencies Act: Reconciling The Controversies Surrounding Lawyers, Managers, And Agents Participating In California's Entertainment Industry, Gary E. Devlin

Pepperdine Law Review

No abstract provided.

Prea 101 For Adult Prisons, Brenda V. Smith

Presentations

No abstract provided.

Incomplete Protection: Exoneration Clauses In New York Trusts And Powers Of Attorney, Ilene S. Cooper, Robert M. Harper

Touro Law Review

No abstract provided.

Prea 101 For Juvenile Justice Agencies, Brenda V. Smith

Presentations

No abstract provided.

Prea 101 For Community Corrections Agencies, Brenda V. Smith

Presentations

No abstract provided.

Cornography: Perverse Incentives And The United States Corn Subsidy, Anthony Kammer

Journal of Food Law & Policy

Among the most important functions we have afforded to the U.S. Congress is the power to reshape social and economic incentive structures through legislation. Proceeding from the enumerated powers under the Constitution and using a complex toolbox of legislative and regulatory innovations, the federal legislature has enormous power to transform the types of behavior that people will perceive as self-interested throughout our economy and thus how those same people are likely to act. Congress can, among other things, create new forms of criminal and civil liability, establish entitlement systems, subsidize industries, encourage behavior through the tax code, regulate interactions among …

Football V. Football: A Comparison Of Agent Regulation In France’S Ligue 1 And The National Football League, Thomas A. Baker Iii, Darren A. Heitner, Jean Francois Brocard, Kevin K. Byon

Pace Intellectual Property, Sports & Entertainment Law Forum

Baker, Heitner, Broçard and Byon, in their article Football v. Football, analyze agent regulation in the NFL and compare it to how agents are regulated in France for Ligue 1. The article begins with a brief discussion on the concept of a sports agency that includes analysis of governmental regulation of agency in both the United States and in France. The article continues by exploring how agents are regulated in their representation of the NFL and Ligue 1 football players. Subsequently the article concludes with a discussion that includes suggestions concerning future agent regulation for both the NFL and Ligue …

Merging Roles: Mass Tort Lawyers As Agents And Trustees, Charles Silver

Pepperdine Law Review

No abstract provided.

Bareboat Charters: Can A Shipowner Limit Liability To Third Parties? Answers For Owners Attempting To Navigate The Unsettled Waters In The Eleventh Circuit, John W. Chitty

Georgia State University Law Review

A bareboat charter is a contractual agreement akin to the lease of a vessel whereby most of the “customary liabilities” of the owner are shifted to the charterer. Some courts have raised concerns over bareboat charters—also referred to as a demise charter—regarding the ability of owners to use the bareboat device as a means to limit liability to injured third parties.

In Baker v. Raymond International, Inc. the Fifth Circuit brought force to this concern; the court held a bareboat charter would no longer shield owners from personal liability for third party injuries caused by the unseaworthiness of a vessel, …

Agency Coordination In Shared Regulatory Space, Jim Rossi, Jody Freeman

Vanderbilt Law School Faculty Publications

This Article argues that inter-agency coordination is one of the great challenges of modern governance. It explains why lawmakers frequently assign overlapping and fragmented delegations that require agencies to "share regulatory space," why these delegations are so pervasive and stubborn, and why consolidating or eliminating agency functions will not solve the problems they create. The Article describes a variety of tools that Congress, the President and the agencies can use to manage coordination challenges effectively, including agency interaction requirements, formal inter-agency agreements, and joint policymaking. The Article assesses the relative costs and benefits of these coordination tools, using the normative …

Corporate Opportunities And Corporate Competition In Illinois: A Comparative Discussion Of Fiduciary Duties, 46 J. Marshall L. Rev. 1 (2012), William Lynch Schaller

UIC Law Review

No abstract provided.

The End Of The Internal Compliance World As We Know It, Or An Enhancement Of The Effectiveness Of Securities Law Enforcement? Bounty Hunting Under The Dodd-Frank Act's Whistleblower Provision, Justin Blount, Spencer Markel

Fordham Journal of Corporate & Financial Law

In the wake of Bernard Madoff’s $65 billion Ponzi scheme and the recent economic crisis stemming largely from loosely regulated subprime lending and mortgage-backed securities, President Obama signed the Dodd-Frank Wall Street Reform and Consumer Protection Act on July 21, 2010, signaling loudly and clearly that change is coming to Wall Street. But Wall Street is not the only one receiving a message. Buried deep within the 2,319 pages of the Dodd-Frank Act, companies can find Section 922, the whistleblower provision, which provides a bounty for whistleblowers who report securities violations to the Securities and Exchange Commission.These bounty provisions and …

Application Of The Concept Of Project Finance In Iraq- A Comparative And Analytical Study, Faris K. Nesheiwat

Fordham Journal of Corporate & Financial Law

Many scholars and experts have addressed the issue of project finance, but one area that remains without detailed examination is its legal treatment under the legal systems of developing countries. The legal concepts applied under project finance are Western and are not necessarily identical to or compatible with legal concepts in Middle Eastern countries in general or Iraq in particular. In that sense, project finance is a transplanted legal concept when examined in the Middle Eastern legal framework. Although this Paper tackles the legal and strategic issues arising from the use of project finance in Iraq, its analysis and comparative …

Lessons From The Flash Crash For The Regulation Of High-Frequency Traders, Edgar Ortega Barrales

Fordham Journal of Corporate & Financial Law

Are equity markets vulnerable to a sudden collapse if the traders who account for about half of the volume have no regulatory obligations to stabilize prices? After the “Flash Crash” of May 6, 2010, policymakers have resoundingly answered this question in the affirmative. During the worst of the crash, some of the so-called high-frequency trading firms that dominate equity markets stopped trading and prices collapsed, momentarily wiping out almost $1 trillion in market value. In response, the U.S. Securities and Exchange Commission is considering whether high-frequency trading firms should be required to act as the traders of last resort. This …

Burning Down The House Or Simply Rolling The Dice: A Comment On Section 621 Of The Dodd-Frank Act And Recommendation For Its Implementation, Joshua R. Rosenthal

Fordham Journal of Corporate & Financial Law

Section 621 of the Dodd-Frank Wall Street Reform and Consumer Protection Act modifies the Securities Act of 1933 to prohibit the underwriter, placement agent, initial purchaser, or sponsor, or any affiliate or subsidiary of any such entity of an asset-backed financial product from betting against that very product for one year after the product’s initial sale. The rule prohibits anyone who structures or sells an asset-backed security or a product composed of asset-backed securities from going short, in the specified timeframe, on what they have sold, and labels such transactions as presenting material conflicts of interest. This Comment discusses traces …

A Shallow Harbor And A Cold Horizon: The Deceptive Promise Of Modern Agency Law For The Theory Of The Firm, David A. Westbrook

Journal Articles

No abstract provided.