Entertainment, Arts, and Sports Law Commons^™

Three Stories: A Comment On Pritchard & Thompson’S A History Of Securities Laws In The Supreme Court, Harwell Wells

Seattle University Law Review

Adam Pritchard and Robert Thompson’s A History of Securities Laws in the Supreme Court should stand for decades as the definitive work on the Federal securities laws’ career in the Supreme Court across the twentieth century.1 Like all good histories, it both tells a story and makes an argument. The story recounts how the Court dealt with the major securities laws, as well the agency charged with enforcing them, the Securities and Exchange Commission (SEC), and the rules it promulgated, from the 1930s into the twenty-first century. But the book does not just string together a series of events, “one …

On The Value Of History: A Review Of A.C. Pritchard & Robert B. Thompson’S A History Of Securities Law In The Supreme Court, Joel Seligman

Seattle University Law Review

A.C. Pritchard and Bob Thompson have written a splendid history of securities law decisions in the Supreme Court. Their book is exemplary because of its detailed use of the long unpublished papers of Supreme Court justices, including those of Harry Blackmun, William O. Douglas, Felix Frankfurter and Lewis F. Powell, primary sources which included correspondence with other Justices and law clerks as well as interviews with law clerks. The use of these primary sources recounted throughout the text and 67 pages of End Notes deepens our understanding of the intentions of the Justices and sharpens our understanding of the conflicts …

Securities Regulation And Administrative Deference In The Roberts Court, Eric C. Chaffee

Seattle University Law Review

In A History of Securities Law in the Supreme Court, A.C. Pritchard and Robert B. Thompson write, “Securities law offers an illuminating window into the Supreme Court’s administrative law jurisprudence over the last century. The securities cases provide one of the most accessible illustrations of key transitions of American law.” A main reason for this is that the U.S. Securities and Exchange Commission (SEC) is a bellwether among administrative agencies, and as a result, A History of Securities Law in the Supreme Court is a history of administrative law in the Supreme Court of the United States as well.

The Ncaa's Challenge In Determining Nil Market Value, Meg Penrose

Faculty Scholarship

This Article proceeds in three parts. Part II discusses the changes that NIL has wrought in college athletics. It briefly explains collectives and their impact on NIL. Part III discusses the impossibility of limiting athletes’ “fair market value” given market value depends on what the market is willing to pay. Congress has failed to pass national legislation. Yet the mosaic of state laws is simply unfit to stand in for national legislation. And, following multiple litigation losses, the NCAA cannot be trusted to “value” the athletes themselves. Market value, if one is to be established, must be uniform and assessed …

Beyond Nil, William W. Berry, Iii

Vanderbilt Journal of Entertainment & Technology Law

The name, image, and likeness (NIL) changes and shifting landscape obscure more existential threats to the student-athlete model on the horizon. The television money that Power Five conference teams receive still comprises much of the budget of athletic departments. The football and basketball players—-the revenue sport athletes-—may have a claim to a greater share of this revenue.

Some athletes argue that they are employees of their universities, which would entitle them not only to additional benefits but also to other tools, such as collective bargaining. All of these advantages could make universities responsible for increasing the amount of remuneration available …

Tackling Bias In Sport: Recognizing The Impact Of Identities, Meg Hancock --Assoc. Prof.

Vanderbilt Journal of Entertainment & Technology Law

Studies suggest participation in organized sports--from childhood to adulthood--promotes positive physical, social, emotional, and intellectual benefits that impact individuals and their communities over a lifetime. Sports participation in early childhood and adolescence also leads to higher self-esteem, greater wage-earning potential, lower health costs, reduced chronic disease, and lower levels of depression. In adulthood, participating in sports provides social connection, personal enjoyment, and improved health. In US society, sports are often viewed as a popular, viable, and sustainable avenue for social mobility. While the benefits of sports participation are unequivocal, the visibility and influence of star athletes, along with the way …

Breaking Cultural And Financial Barriers In Olympic Sports, Maureen A. Weston, Professor Of Law

Vanderbilt Journal of Entertainment & Technology Law

Nelson Mandela has said that “[s]port has the power to change the world. It has the power to inspire. It has the power to unite people in a way that little else does . . . . It is more powerful than governments in breaking down barriers.” Sports can have tremendous value, not only to the individual participants in promoting physical and mental health, skills, and teamwork, but also to society in fostering community, civic pride, and a sense of belonging, even among the fans. Sports have significant economic, political and cultural impacts at the local, national, and international spheres. …

Forget About Ferpa: How Foia Protects Student-Athlete Privacy In The Nil Era, Kamron Cox

Vanderbilt Journal of Entertainment & Technology Law

The start of the name, image, and likeness (NIL) era stirred public fervor about the new earning potential of high-profile student-athletes. Since institutional policies and state laws governing NIL require student-athletes to broadly disclose information about their NIL activities to their respective institutions, the several state laws that follow the approach of the federal Freedom of Information Act (FOIA) can jeopardize the privacy of student-athlete NIL information. Major universities have repeatedly resorted to the unreliable defense of the Family Educational Rights and Privacy Act as well as sporadic state legislation to protect student-athlete privacy in the new NIL space. However, …

The Esg Information System, Stavros Gadinis, Amelia Miazad

Seattle University Law Review

The mounting focus on ESG has forced internal corporate decision-making into the spotlight. Investors are eager to support companies in innovative “green” technologies and scrutinize companies’ transition plans. Activists are targeting boards whose decisions appear too timid or insufficiently explained. Consumers and employees are incorporating companies sustainability credentials in their purchasing and employment decisions. These actors are asking companies for better information, higher quality reports, and granular data. In response, companies are producing lengthy sustainability reports, adopting ambitious purpose statements, and touting their sustainability credentials. Understandably, concerns about greenwashing and accountability abound, and policymakers are preparing for action.

In this …

Stakeholder Governance On The Ground (And In The Sky), Stephen Johnson, Frank Partnoy

Seattle University Law Review

Professor Frank Partnoy: This is a marvelous gathering, and it is all due to Chuck O’Kelley and the special gentleness, openness, and creativity that he brings to this symposium. For more than a decade, he has been open to new and creative ways to discuss important issues surrounding business law and Adolf Berle’s legacy. We also are grateful to Dorothy Lund for co-organizing this gathering.

In introducing Stephen Johnson, I am reminded of a previous Berle, where Chuck allowed me some time to present the initial thoughts that led to my book, WAIT: The Art and Science of Delay. Part …

The Structure Of Corporate Law Revolutions, William Savitt

Seattle University Law Review

Since, call it 1970, corporate law has operated under a dominant conception of governance that identifies profit-maximization for stockholder benefit as the purpose of the corporation. Milton Friedman’s essay The Social Responsibility of Business is to Increase Its Profits, published in September of that year, provides a handy, if admittedly imprecise, marker for the coronation of the shareholder-primacy paradigm. In the decades that followed, corporate law scholars pursued an ever-narrowing research agenda with the purpose and effect of confirming the shareholder-primacy paradigm. Corporate jurisprudence followed a similar path, slowly at first and later accelerating, to discover in the precedents and …

Stakeholder Capitalism’S Greatest Challenge: Reshaping A Public Consensus To Govern A Global Economy, Leo E. Strine Jr., Michael Klain

Seattle University Law Review

The Berle XIV: Developing a 21st Century Corporate Governance Model Conference asks whether there is a viable 21st Century Stakeholder Governance model. In our conference keynote article, we argue that to answer that question yes requires restoring—to use Berle’s term—a “public consensus” throughout the global economy in favor of the balanced model of New Deal capitalism, within which corporations could operate in a way good for all their stakeholders and society, that Berle himself supported.

The world now faces problems caused in large part by the enormous international power of corporations and the institutional investors who dominate their governance. These …

Delegated Corporate Voting And The Deliberative Franchise, Sarah C. Haan

Seattle University Law Review

Starting in the 1930s with the earliest version of the proxy rules, the Securities and Exchange Commission (SEC) has gradually increased the proportion of “instructed” votes on the shareholder’s proxy card until, for the first time in 2022, it required a fully instructed proxy card. This evolution effectively shifted the exercise of the shareholder’s vote from the shareholders’ meeting to the vote delegation that occurs when the share-holder fills out the proxy card. The point in the electoral process when the binding voting choice is communicated is now the execution of the proxy card (assuming the shareholder completes the card …

Robo-Voting: Does Delegated Proxy Voting Pose A Challenge For Shareholder Democracy?, John Matsusaka, Chong Shu

Seattle University Law Review

Robo-voting is the practice by an investment fund of mechanically voting in corporate elections according to the advice of its proxy advisor— in effect fully delegating its voting decision to its advisor. We examined over 65 million votes cast during the period 2008–2021 by 14,582 mutual funds to describe and quantify the prevalence of robo-voting. Overall, 33% of mutual funds robo-voted in 2021: 22% with ISS, 4% with Glass Lewis, and six percent with the recommendations of the issuer’s management. The fraction of funds that robo-voted increased until around 2013 and then stabilized at the current level. Despite the sizable …

The New Gender Panic In Sport: Why State Laws Banning Transgender Athletes Are Unconstitutional, Deborah Brake

Articles

The scope and pace of legislative activity targeting transgender individuals is nothing short of a gender panic. From restrictions on medical care to the regulation of library books and the use of pronouns in schools, attacks on the transgender community have reached crisis proportions. A growing number of families with transgender children are being forced to leave their states of residence to keep their children healthy and their families safe and intact. The breadth and pace of these developments is striking. Although the anti-transgender backlash now extends broadly into health and family governance, sport was one of the first settings—the …

An Unauthorized Renaissance? An Analysis Of Artists’ Claims For Copyright Infringement Against Ai Generated Art And Possible Defenses, Victoria Young

FIU Law Review

AI currently presents a novel issue in terms of copyright infringement, specifically AI generated art. Recently, a group of artists filed a class action lawsuit against several AI generated art companies. This comment evaluates the potential avenues the court may take. The artists allege these AI generated art companies directly infringed on their copyrighted works by making unauthorized copies of copyrighted works which they used to train their machine learning programs. A determination on whether AI generated art constitutes copyright infringement has not been made by the courts before. To bring a successful copyright infringement claim, a party must show …

Capitalism Stakeholderism, Christina Parajon Skinner

Seattle University Law Review

Today’s corporate governance debates are replete with discussion of how best to operationalize so-called stakeholder capitalism—that is, a version of capitalism that considers the interests of employees, communities, suppliers, and the environment alongside (if not before) a company’s shareholders. So much focus has been dedicated to the question of capitalism’s reform that few have questioned a key underlying premise of stakeholder capitalism: that is, that competitive capitalism does not serve these various constituencies and groups. This Essay presents a different view and argues that capitalism is, in fact, the ultimate form of stakeholderism. As such, the Essay urges that the …

Trademark Infringement: The Likelihood Of Confusion Of Nfts In The Us And Eu, Sara Sachs

Brooklyn Journal of International Law

The immutability of non-fungible tokens has made it an invaluable tool for asset ownership and authentication across a variety of industries. With the proliferation of NFTs comes the need to protect trademarks and prevent consumer confusion in the digital age. This Note explores the existing legal framework for trademark law in the United States and European Union. This Note argues for a new trademark standard that reflects the interconnected nature of a global digital society.

Copyrighting Compositions: How Inconsistencies Within The Circumstancial Evidence Analysis Affects Musical Composition Copyright Infringement Plaintiffs, Stephanie Stern

Brooklyn Journal of Corporate, Financial & Commercial Law

To resolve a musical composition copyright infringement case, courts employ the circumstantial evidence analysis. This analysis involves assessing whether the two works are substantially similar and whether the defendant had access to the plaintiff’s copyright-protected work. Despite efforts to keep pace with the rapidly changing world of music creation, these tests have fallen behind: circuits are split with respect to the way they determine substantial similarity, and courts have failed to update the access requirement in the age of the internet. Additionally, courts must adhere to the rules of either the 1909 Copyright Act or the 1976 Copyright Act, depending …

Getting A Handle On The Taxation Of Sports Betting, Samuel Craig

Loyola of Los Angeles Entertainment Law Review

Sports betting is not merely a 21st century novelty; however, recent legislative and societal changes have allowed sports betting to bloom into a widespread phenomenon in America. The rapid emergence of sports betting in American life has caused states to react with legislation ranging from full-stop bans to partnerships with sportsbooks to capitalize on this lucrative and newly legal activity. While plenty of discussion can be found regarding the social and political considerations of legalizing gambling and related activities, no comprehensive legal scholarship has focused specifically on the taxation of sports betting. Sports betting exists in a relatively unique position …