The Promise Of Patent-Backed Finance For Smes And Universities, And Shifting Patent Eligible Subject Matter,
2022
Faculty of Law and Criminology, University of Leuven
The Promise Of Patent-Backed Finance For Smes And Universities, And Shifting Patent Eligible Subject Matter, Mattias Karlsson Dinnetz, Michael S. Mireles
Lewis & Clark Law Review
This Article reviews and addresses some of the problems concerning adequate capital to develop patented inventions and products, and inhibiting the widespread use of patents to raise financing. The Article divides the IP finance market into three separate, but interrelated markets and analyzes problems, including U.S. patent-eligible subject matter doctrine, within those markets impeding patent-backed financing. The Article provides numerous proposals, some of which are in the literature, and calls for additional research for addressing the issues.
Securitizing Notes Of Small Businesses And Needy Workers,
2022
Boston University School of Law
Securitizing Notes Of Small Businesses And Needy Workers, Tamar Frankel
Faculty Scholarship
Businesses, whether large ones or small ones, such as restaurants and small shops, are presently closed and some of their employees have been laid off.1 Currently, the government is lending money to these small businesses2 and the now unemployed workers for their sustenance. It then collects the payments from some of the borrowers and the source of the rest of the money is taxes.3 Since not all, or perhaps only a few, small businesses own real estate, they might sign notes promising to repay the loans but can offer no asset backing. Presumably, the nation’s financial deficit …
Steering Loan Modifications Post-Pandemic,
2022
University of Georgia School of Law
Steering Loan Modifications Post-Pandemic, Pamela Foohey, Dalie Jimenez, Christopher K. Odinet
Scholarly Works
As part of federal and state relief programs created during the COVID-19 pandemic, many American households received pauses on their largest debts, particularly on mortgages and student loans. Others may have come to agreements with their lenders, likewise pausing or altering payment on other debts, such as auto loans and credit cards. This relief allowed households to allocate their savings and income to necessary expenses, like groceries, utilities, and medicine. But forbearance does not equal forgiveness. At the end of the various relief periods and moratoria, people will have to resume paying all their debts, the amounts of which may …
Credit Scoring Duality,
2022
University of Georgia School of Law
Credit Scoring Duality, Pamela Foohey, Sara Sternberg Greene
Scholarly Works
Credit scoring is central to people’s financial growth and prosperity or financial decline and stagnation. People with a good credit score and accompanying credit report can buy opportunities to advance economically. The benefits they reap from their attractiveness to lenders and employers helps feed their future success. In contrast, people with a fair or poor credit score become stuck in cycle of high interest rates and costly loan terms, large required down payments, and denied applications for rentals, cell phone plans, and employment. Employers, service providers, lenders, and alternative financial service providers have begun to use alternative credit scoring models, …
Shadow Contracts,
2022
HEC Paris
Shadow Contracts, Jessica S. Jeffers, Anne M. Tucker
Scholarly Works
This project explores side letters in private market funds. Side letters, separate agreements between a fund and an investor, act as an invisible amendment to the main contract. This article introduces a new use case for side letters: impact invest- ments, where funds target social, as well as financial returns. Using a hand-col- lected data set, we examine the scope and role of side letters in this growing space. Side letters as "shadow contracts" demonstrate the Easterbrook/Fischel theories in action, namely that parties "write their own tickets," tailoring agreement terms to their specific needs within the framework of corporate governance …
Legal Issues In Tribal E-Commerce,
2022
George Mason University, Antonin Scalia Law School
Legal Issues In Tribal E-Commerce, Adam Crepelle
American University Business Law Review
No abstract provided.
Recent Law Reforms In Eu Sustainable Finance: Regulating Sustainability Risk And Sustainable Investments,
2022
School of Law, Trinity College Dublin
Recent Law Reforms In Eu Sustainable Finance: Regulating Sustainability Risk And Sustainable Investments, Felix Mezzanotte
American University Business Law Review
Responding to increasingly degrading environmental and social conditions, the European Commission has fostered important legal and regulatory reforms to achieve sustainable finance objectives in Europe. However, these reforms are numerous, complex, and fast-paced. They have proved difficult to grasp and contextualize, while adding to the intricacies of an already highly sophisticated EU legal and regulatory regime. This Article outlines and examines such reforms with the purpose of providing necessary insights into the current state of EU law and regulation in the area of sustainable finance. The first part of the Article conceptualizes the meaning of sustainability risk and of sustainable …
The Rules Of Professional Responsibility And Legal Finance: A Status Update,
2022
Benjamin N. Cardozo School of Law
The Rules Of Professional Responsibility And Legal Finance: A Status Update, Anthony J. Sebok
Articles
Legal finance occurs when strangers fund litigation for profit. Traditionally looked upon with suspicion in the common law, and limited by the doctrines of champerty and maintenance, legal finance is now a thriving part of the American legal landscape. Legal finance has been promoted as a solution to the access-to-justice problems facing working and middle class Americans, as well as a new asset class for Wall Street. At the center of legal finance, however, are lawyers – not the lawyers who write the contracts for the financing – but the lawyers for the cases being financed.
/="/">
/="/">Over the …
Steering Loan Modifications Post-Pandemic,
2022
Benjamin N. Cardozo School of Law
Steering Loan Modifications Post-Pandemic, Pamela Foohey, Dalie Jimenez, Christopher K. Odinet
Articles
As part of federal and state relief programs created during the COVID-19 pandemic, many American households received pauses on their largest debts, particularly on mortgages and student loans. Others may have come to agreements with their lenders, likewise pausing or altering payment on other debts, such as auto loans and credit cards. This relief allowed households to allocate their savings and income to necessary expenses, like groceries, utilities, and medicine. But forbearance does not equal forgiveness. At the end of the various relief periods and moratoria, people will have to resume paying all their debts, the amounts of which may …
How El Salvador Has Changed U.S. Law By A Bit: The Consequences For The Ucc Of Bitcoin Becoming Legal Tender,
2022
University of Oklahoma College of Law
How El Salvador Has Changed U.S. Law By A Bit: The Consequences For The Ucc Of Bitcoin Becoming Legal Tender, Brian Mccall
Faculty Articles
On June 8, 2021, the Congress of El Salvador passed a law that changed American commercial law.How could a foreign country change U.S. law? El Salvador’s Congress voted to confer “legal tender” status upon the cryptocurrency Bitcoin.The law took effect in El Salvador on September 7, 2021;starting that day, Bitcoin could be used to pay taxes4 and buy goods and services in El Salvador. As the first country to adopt Bitcoin as legal tender, El Salvador made world history and sparked many debates and predictions about the effects its decision may have on the Central American nation and its economy.Beyond …
Developments In The Laws Affecting Electronic Payments And Financial Services,
2022
Indiana University Maurer School of Law
Developments In The Laws Affecting Electronic Payments And Financial Services, Sarah Jane Hughes, Stephen T. Middlebrook, Tom Kierner
Articles by Maurer Faculty
The past year proved to be a busy period for the regulation of electronic payments and financial services. In this year’s survey, we discuss rulemakings, enforcement actions, and other litigation that has significantly impacted the law governing payments and financial services. Part II addresses the ongoing fight between federal and state authorities over which should properly regulate Fin- Tech entities and describes some new steps the Office of the Comptroller of the Currency (“OCC”) has taken to assert its authority in this area. Part III details an enforcement action that California regulators took against a FinTech company they determined had …
#Fintok And Financial Regulation,
2022
Texas A&M University School of Law
#Fintok And Financial Regulation, Nikita Aggarwal, D. Bondy Valdovinos Kaye, Christopher K. Odinet
Faculty Scholarship
Social media platforms are becoming an increasingly important site for consumer finance. This phenomenon is referred to as “FinTok,” a reference to the “#fintok” hashtag that identifies financial content on TikTok, a popular social media platform. This Essay examines the new methodological possibilities for consumer financial regulation due to FinTok. It argues that FinTok content offers a novel and valuable source of data for identifying emerging fintech trends and associated consumer risks. As such, financial regulators should use FinTok content analysis—and social media content analysis more broadly—as an additional method for the supervision and regulation of consumer financial markets. The …
Don't Let The Digital Tail Wag The Transformation Dog: A Digital Transformation Roadmap For Corporate Counsel,
2022
University of Miami School of Law
Don't Let The Digital Tail Wag The Transformation Dog: A Digital Transformation Roadmap For Corporate Counsel, Michele M. Destefano, Tellmann P. Bjarne, Daniel Wu
Articles
Due in part to the COVID-19 pandemic, enhancements in technology, as well as shifts in the macroeconomic and socioeconomic dynamics of globalization, Digital Transformation (DT) has become an enterprise-wide imperative for most multinational companies (MNCs). As a result, legal departments are being challenged to embrace enterprise DT and start their own departmental DT journeys. Despite these trends, there is little scholarship and research about how MNC legal departments are addressing the DT challenge. How are General Counsel (GCs) currently approaching DT? Is what they are doing effective and value-accretive? And importantly, how should GCs approach DT to best generate value? …
A Process For Politics,
2022
Georgetown University Law Center
A Process For Politics, Anna Gelpern
Georgetown Law Faculty Publications and Other Works
I argue that consistent and public process observance has a distinctly valuable function in sovereign debt restructuring, with no precise equivalent in national insolvency regimes. National regimes reflect the distribution bargains of their enactment, presumptively legitimate and binding. Debtors and creditors allocate insolvency losses in their shadow, with liquidation as a backstop and politics just outside the frame. All else equal, the restructuring process has a harder job with sovereign debt. There is no liquidation backstop and no default distribution scenario. Each crisis resolution episode must allocate losses from scratch among the country’s citizens, foreign and domestic creditors, and other …
China's Approach To Central Bank Digital Currency: Selectively Reshaping International Financial Order?,
2022
Singapore Management University
China's Approach To Central Bank Digital Currency: Selectively Reshaping International Financial Order?, Heng Wang
Research Collection Yong Pung How School Of Law
China is likely to be the first major economy to issue central bank digital currency (CBDC), the digital version of sovereign currency. China’s CBDC is also known as e-CNY, DC/EP, or digital yuan. ECNY has the potential to profoundly affect the international financial system and order. This article explores the following crucial issues from an international perspective: what are the core features of e-CNY? What is China’s approach to CBDC? What is the long-term sustainability of China’s CBDC approach? This article argues that the role of the state, the potential cross-border use of e-CNY, and China’s proactiveness in international governance …
Lawmaking Without Law: How Overreliance On Economics Fails Financial Regulation (And What To Do About It),
2022
Duke Law School
Lawmaking Without Law: How Overreliance On Economics Fails Financial Regulation (And What To Do About It), Steven L. Schwarcz, Theodore L. Leonhardt
Faculty Scholarship
This Article examines a fundamental failure of process in lawmaking: the overreliance of lawmakers on economists and economic scholarship when designing and implementing financial regulation, to the virtual exclusion of lawyers and legal scholarship. This overreliance leads to regulation that often is based on theoretical models and assumptions that are poorly informed by experience and may not withstand real-world testing. The Article examines how to improve financial regulation by better integrating legal scholarship and lawyerly insights into the lawmaking process. Among other things, that will require law professors to gain the attention, and earn the respect, of lawmakers by writing …
Regulating Global Stablecoins: A Model-Law Strategy,
2022
Duke Law School
Regulating Global Stablecoins: A Model-Law Strategy, Steven L. Schwarcz
Faculty Scholarship
Digital currencies have the potential to improve the speed and efficiency of the payment system. The principal challenge is retail: to facilitate day-to-day payments among consumers as an alternative to cash, both domestically and across national borders. Two models of digital currencies are becoming viable: central bank digital currencies and nongovernment-issued currencies that are backed by assets having intrinsic value (stablecoins or, when widely used internationally, global stablecoins). Because they are not government issued, global stablecoins present complex and novel cross-border regulatory challenges, including managing the costs of complying with a multitude of national laws and ensuring international legal enforceability. …
Regulating Digital Currencies: Towards An Analytical Framework,
2022
Duke Law School
Regulating Digital Currencies: Towards An Analytical Framework, Steven L. Schwarcz
Faculty Scholarship
Digital currencies have the potential to improve the speed and efficiency of payments and to broaden financial inclusion. The principal goal is to facilitate payments among consumers on a day-to-day basis as an alternative to cash, both domestically and across national borders. This Article begins by critically examining and critiquing the ongoing progress of trying to develop retail digital currencies, focusing on the two most feasible approaches: central bank digital currencies (“CBDC”), and privately issued currencies that are backed by assets having intrinsic value (“stablecoins”). The Article then analyzes how these digital currencies should be regulated and supervised, exploring their …
Rogue Brokers And The Limits Of Agency Law,
2022
Duke Law School
Rogue Brokers And The Limits Of Agency Law, Deborah A. Demott
Faculty Scholarship
No abstract provided.
The Future Of Ai Accountability In The Financial Markets,
2022
Duke Law School
The Future Of Ai Accountability In The Financial Markets, Gina-Gail S. Fletcher, Michelle M. Le
Faculty Scholarship
Consumer interaction with the financial market ranges from applying for credit cards, to financing the purchase of a home, to buying and selling securities. And with each transaction, the lender, bank, and brokerage firm are likely utilizing artificial intelligence (AI) behind the scenes to augment their operations. While AI’s ability to process data at high speeds and in large quantities makes it an important tool for financial institutions, it is imperative to be attentive to the risks and limitations that accompany its use. In the context of financial markets, AI’s lack of decision-making transparency, often called the “black box problem,” …
