The Pitfalls Of The (Perfect) Market Benchmark: The Case Of Countervailing Duty Law,
2010
University of Florida Levin College of Law
The Pitfalls Of The (Perfect) Market Benchmark: The Case Of Countervailing Duty Law, Wentong Zheng
UF Law Faculty Publications
Markets have long been used as benchmarks for economic value in various areas of law. However, a crucial question has received less than adequate attention: what type of market should be used in the market benchmark? More specifically, given all the imperfections one typically finds in day-to-day markets, how perfect does a market have to be in order to qualify as a benchmark for economic value? This Article discusses this question using countervailing duty law as a case study. Countervailing duty law allows the United States to impose countervailing duties on imported merchandise to offset subsidies conferred by foreign governments …
Economic Value, Equal Dignity And The Future Of Sweepstakes,
2010
University of Nevada, Las Vegas -- William S. Boyd School of Law
Economic Value, Equal Dignity And The Future Of Sweepstakes, Anthony N. Cabot, Glenn J. Light, Karl F. Rutledge
UNLV Gaming Law Journal
The three basic forms of prize gaming are gambling, sweepstakes, and contests. Most states have a common approach to determining the legality of prize gaming. In general, states analyze if an activity includes three factors associated with gambling: (1) opportunity to win a prize, (2) winning based on chance, and (3) consideration paid to take that chance. If you take away any one of the three elements of gambling—consideration, prize, or chance—you have an activity that is lawful in most states. A contest, for example, differs from gambling because the winner is determined by skill. Determination of whether a (pay-for-play) …
Securities Intermediaries And The Separation Of Ownership From Control,
2010
Seattle University School of Law
Securities Intermediaries And The Separation Of Ownership From Control, Jill E. Fisch
Seattle University Law Review
The Modern Corporation & Private Property is a paradigm-shifting analysis of the modern corporation. The book is perhaps best known for the insights of Berle and Means about the separation of ownership from control and the consequences of that separation for the allocation of power within the corporation. The Berle and Means story focuses on the shareholder as the owner of the corporation. Berle and Means saw the mechanism of centralized management—in which the shareholder retains the economic interest but not the control rights associated with ownership—as threatening the conception of shareholder interests in terms of property rights. In particular, …
The Modern Corporation As Social Construction,
2010
Seattle University School of Law
The Modern Corporation As Social Construction, Mark S. Mizruchi, Daniel Hirschman
Seattle University Law Review
Classic works, Mark Mizruchi and Lisa Fein argued, share a particular fate. Authors often cite classic works without reading them—or without reading them carefully. . . . Yet perhaps no single work fits the above description better than one of the most important books on the large corporation ever published: Adolf Berle and Gardiner Means’s The Modern Corporation and Private Property. One can speculate that few works in the social sciences have been as often cited and as little read. As a consequence, we would expect The Modern Corporation to be a good candidate for either selective interpretation or …
Microfranchising: A Business Approach To Fighting Poverty,
2010
Unviersity of Michigan Law School
Microfranchising: A Business Approach To Fighting Poverty, Deborah Burand, David W. Koch
Articles
Imagine a franchise network that trains, guides, and supports hundreds of poor women with little or no business experience to become successful business owners. Such "microfranchise" efforts, though relatively small in number, have been gathering steam in the development community and, recently, attracting the attention of the mainstream franchising indus- Deborah Burand try. Advocates have seized on microfranchising as a natural complement or follow-on to the widely acclaimed successes of the "microfinance" sector, which provides small-scale finance services to over 150 million of the world's poor. Microfranchising today is where microfinance was a decade or more ago. It is appropriate …
Sales Or Plans: A Comparative Account Of The "New" Corporate Reorganization,
2010
Osgoode Hall Law School of York University
Sales Or Plans: A Comparative Account Of The "New" Corporate Reorganization, Stephanie Ben-Ishai, Stephen J. Lubben
Articles & Book Chapters
In this article, Professors Stephanie Ben-Ishai and Stephen Lubben explore the recent surge in popularity of “quick-sales,” essentially the pre-reorganization plan sale of an insolvent debtor’s assets. In their examination of quick sales, the authors use the recent examples of Lehman Brothers and Chrysler to illustrate the popularity and relevance of the pre-plan sales. The authors then move on to a more detailed discussion of the quick sales process in both Canada and the United States, isolating the differences and similarities between both countries, and weighing the costs and benefits of each approach. Ultimately, the authors argue that questions of …
Implementing The Standby Letter For Credit Convention With The Law Of Wyoming,
2010
University of Michigan Law School
Implementing The Standby Letter For Credit Convention With The Law Of Wyoming, James J. White
Articles
For the first time in American practice, we propose to implement a convention by a federal adoption of law previously enacted by the states – from Wyoming to New York – to implement the Convention on Independent Guarantees and Standby Letters of Credit (“Convention”).1
Knock It Off: An Analysis Of Trademark Counterfeit Goods Regulation In The United States, France, And Belgium,
2010
Benjamin N. Cardozo School of Law
Knock It Off: An Analysis Of Trademark Counterfeit Goods Regulation In The United States, France, And Belgium, Kate Goldwasser
Cardozo Journal of International and Comparative Law
The note examines the legal standards for online platforms' liability regarding the sale of counterfeit goods in the US, France, and Belgium. It highlights the discrepancies in how each country applies contributory liability to platforms like eBay and advocates for consistent international regulations to address the growing issue of online counterfeit sales.
What The Financial Services Industry Puts Together Let No Person Put Asunder: How The Gramm-Leach-Bliley Act Contributed To The 2008 - 2009 American Capital Markets Crisis,
2010
Florida Agricultural and Mechanical University
What The Financial Services Industry Puts Together Let No Person Put Asunder: How The Gramm-Leach-Bliley Act Contributed To The 2008 - 2009 American Capital Markets Crisis, Joseph Karl Grant
Journal Publications
The current subprime financial crisis has shaped up to be one of the most dramatic and impactful events in the past few decades. No one particular factor fully accounts for why the American economy suffered setbacks unseen since the Great Depression of the 1930s. Some of the roots of the current financial crisis started taking hold in 1999 when Congress passed the Financial Services Modernization Act, also known as the Gramm-Leach-Bliley Act. Gramm-Leach-Bliley brought about sweeping deregulation to the financial services industry. In essence, Gramm -Leach-Bliley swept away almost six decades of financial services regulation precipitated by the Great Depression …
The Backlash Against Investment Arbitration: Perceptions And Reality,
2010
Allard School of Law at the University of British Columbia
The Backlash Against Investment Arbitration: Perceptions And Reality, Michael Waibel, Asha Kaushal, Kwo-Hwa Liz Chung, Claire Balchin
All Faculty Publications
Commentators increasingly question whether a backlash against the foreign investment regime is underway. This book, the outgrowth of a conference organized by the editors at Harvard Law School on April 19, 2008, aims to uncover the drivers behind the backlash against the current international investment regime. A diverse set of contributors reflect on the current state and the future direction of the international investment regime, and offer some tentative solutions for improvement: academics, practitioners, government officials and civil society. Contributors assess whether the current regime of investment arbitration is in crisis. They take a step back to look at the …
Corporate Power In The Public Eye: Reassessing The Implications Of Berle’S Public Consensus Theory,
2010
Seattle University School of Law
Corporate Power In The Public Eye: Reassessing The Implications Of Berle’S Public Consensus Theory, Marc T. Moore, Antoine Rebérioux
Seattle University Law Review
We analyze Berle’s overall corporate governance project in accordance with what we see as its four core sub-themes: (A) the limitations of external market forces as a constraint on managerial decision-making power; (B) the desirability of internal (corporate) over external (market) actors in allocating corporate capital; (C) civil society and the public consensus as a continuous informal check on managerial decision-making power; and (D) shareholder democracy (as opposed to shareholder primacy or shareholder wealth maximization) as a socially instrumental institution. We seek to debunk the popular misconception that Berle’s early work was a defense of the orthodox shareholder primacy paradigm …
Back To The Future: Rediscovering Equitable Discretion In Trademark Cases,
2010
Notre Dame Law School
Back To The Future: Rediscovering Equitable Discretion In Trademark Cases, Mark P. Mckenna
Journal Articles
Courts in recent years have increasingly made blunt use of their equitable powers in trademark cases. Rather than limiting the scope of injunctive relief so as to protect the interests of a mark owner while respecting the legitimate interests of third parties and of consumers, courts in most cases have viewed injunctive relief in binary terms. This is unfortunate, because greater willingness to tailor injunctive relief could go a long way to mitigating some of the most pernicious effects of trademark law’s modern expansion. This Essay urges courts to reverse this trend towards crude injunctive relief, and to re-embrace their …
The Role Of Independent Directors In Startup Firms,
2010
Vanderbilt University Law School
The Role Of Independent Directors In Startup Firms, Brian Broughman
Vanderbilt Law School Faculty Publications
This Article develops a new theory to explain the widespread use of independent directors in the governance of startup firms. Privately held startups often assign a tie-breaking board seat to a third-party independent director. This practice cannot be explained by the existing corporate governance literature, which relies on diffuse ownership and passive investment-features unique to the publicly traded firm. To develop an alternative theory, I model a financing contract between an entrepreneur and a venture capital investor. I show that allocating a tie- breaking vote to an unbiased third party can prevent opportunistic behavior that would occur if the firm …
Citizens United & Corporate & Human Crime,
2010
Vanderbilt University Law School
Citizens United & Corporate & Human Crime, Christopher Slobogin
Vanderbilt Law School Faculty Publications
Citizens United v. Election Commission held that, like human citizens, corporations can exercise their right to free speech by spending as much money as they like trying to influence elections. This article does not attack or defend that decision, but rather explores its implications for criminal liability, corporate and otherwise. Most prominently, Citizens United reinforces the long-accepted but still highly controversial proposition that, despite their inanimate nature, corporations can be criminally prosecuted for harm they cause. Less obviously, Citizens United provides fodder for those who would soften current corporate liability and punishment rules. Less obviously still, the decision could bolster …
Notice Of Assignment And Discharge By Performance,
2010
Singapore Management University
Notice Of Assignment And Discharge By Performance, Chee Ho Tham
Research Collection Yong Pung How School Of Law
Notice plays an important role in the equitable assignment of legal choses in action, such as a contractual debt. As noted in a recent treatise, once the debtor is given notice of the equitable assignment: (i) should she pay the sum owed to her creditor, she is not discharged from her obligation but will have to make payment again to the assignee [the 'no discharge after notice' rule]; (ii) the assignee’s right against the debtor has priority against subsequent assignments by the assignor, in order of precedence of notice [the rule as to priorities]; and (iii) the debtor is no …
Promoting Commercial Law Reform In Eastern Europe,
2010
Penn State Law
Promoting Commercial Law Reform In Eastern Europe, Samuel Bufford
Faculty Scholarship
This article is my account of what I did in a decade of advising governments and teaching judicial seminars on commercial law matters in Central and Eastern Europe, beginning in 1991. This article contains my individual reflections on more than a dozen visits to developing countries in Central and Eastern Europe to advise governments and to educate their judges, and several visits of judges from some of those countries to the United States. In many ways, my experiences are typical of United States judges who have done the same kind of work in developing countries. In some ways, my experiences …
Commerce,
2010
Yale Law School
Commerce, Jack M. Balkin
Michigan Law Review
This Article applies the method of text and principle to an important problem in constitutional interpretation: the constitutional legitimacy of the modem regulatory state and its expansive definition of federal commerce power Some originalists argue that the modem state cannot be justified, while others accept existing precedents as a "pragmatic exception" to originalism. Nonoriginalists, in turn, point to these difficulties as a refutation of originalist premises. Contemporary originalist readings have tended to view the commerce power through modem eyes. Originalists defending narrow readings offederal power have identified "commerce" with the trade of commodities; originalists defending broad readings of federal power …
From ‘Made In China’ To ‘Sold In China’,
2010
Singapore Management University
From ‘Made In China’ To ‘Sold In China’, Henry S. Gao
Research Collection Yong Pung How School Of Law
Two years ago, I wrote about a special program called ‘Made in China’, produced by CNN in the wake of the tainted milk scandal. Last month, CNN started to air another ‘Made in China’ program. No it is not that the last program was so popular that they want to bring it back. Instead the new one is a thirty second commercial rumored to have been financed by China’s Ministry of Commerce (who later denied this) in an effort to promote Chinese products.
In Defense Of The No Discharge After Notice Rule: A Reply,
2010
Singapore Management University
In Defense Of The No Discharge After Notice Rule: A Reply, Chee Ho Tham
Research Collection Yong Pung How School Of Law
Mr Trukhtanov has made his own summary of and response to my own account of equitable (and statutory) assignment, and how notice of assignment operates within them. Having been reminded of how the cases on the topic are usually understood, readers will have to make up their own minds. While there is, always, room for further thought, it is important not to lose sight of two fairly important distinctions. Where A is the debtor, B is the creditor, and C is an assignee to whom B has assigned the chose in action arising from A’s debt obligation, a distinction should …
The New International Arbitration (Amendment) Bill – A Broader Framework For Interim Relief Or Just A Tune-Up?,
2010
Singapore Management University
The New International Arbitration (Amendment) Bill – A Broader Framework For Interim Relief Or Just A Tune-Up?, Mahdev Mohan, Eu-Yen Tay
Research Collection Yong Pung How School Of Law
Singapore aspires to retain its place as a trusted arbitration hub for commercial parties all around the world. The recently proposed amendments to the International Arbitration Act seek to bring Singapore closer to meeting international standards in relation to the arbitration procedure. While the initiative should be applauded, those amendments relating to interim measures fall somewhat short of expectations of a new, broader framework of curial assistance in aid of arbitration. This article explores the uncertainties that could arise from the proposed amendments, either because of phrasing or of an omission to embrace the Model Law. It is hoped that …
