Other Law Commons^™

The Long Road To Reformulating The Understanding Of Directors' Duties: Legalizing Team Production Theory?, Thomas Clarke

Seattle University Law Review

In this Article, the historical evolution of corporate governance is considered, highlighting the different eras of governance, the dominant theoretical and practical paradigms, and the reformulation of paradigms and counter paradigms. Two alternative and sharply contrasting theorizations, one collective and collaborative (the work of Berle and Means), the other individualistic and contractual (agency theory and shareholder value) are focused upon. The explanatory potential of Blair and Stout’s team production theory is elaborated, along with its conception of the complexity of business enterprise, with a mediating hierarch (the board of directors) securing a balance between the interests of different stakeholders. The …

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, …

A Theory Of The Just Corporation, Ronit Donyets-Kedar

Seattle University Law Review

In their seminal article A Team Production Theory of Corporate Law, Margaret Blair and Lynn Stout hold that the modern corporation is best understood in terms of team production. Challenging the principal–agent model, Blair and Stout offer an analysis that considers the various stakeholders of the corporation as members of a team. Accordingly, they suggest, the purpose of corporate law is to provide a response to the problems created by collective production processes, in particular those pertaining to the distribution of profits stemming from the cooperation. According to Blair and Stout, the solution to this problem is to be found …

Team Production Theory And Private Company Boards, Elizabeth Pollman

Seattle University Law Review

In their path-breaking article, A Team Production Theory of Corporate Law, Margaret Blair and Lynn Stout provided a new theory of the board of directors in a corporation. Drawing on the economic theory of team production, Blair and Stout argued that the board of directors serves as a mediating hierarchy for the firm as a whole, encouraging firm-specific investments from team members and reducing shirking and opportunistic behavior. While Blair and Stout provided a dramatically different view of the corporation from the conventional principal-agent account, they also delineated limitations to their proposed theory. Most importantly, they suggested that the …

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.

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 …

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 …

The Executioners‘ Dilemmas, Eric Berger

Nebraska College of Law: Faculty Publications

When people learn that I study lethal injection, they are usual-ly curious to know more (or at least they are polite enough to ask questions). Interestingly, the question that arises most often—from lawyers, law students, and laypeople—is why states behave as they do. In the wake of botched executions and ample evidence of lethal injection‘s dangers, why do states fail to address their execution procedures‘ systemic risks? Similarly, why do states so vigorously resist requests to disclose their execution procedures‘ details? This symposium essay takes a stab at answering these ques-tions. In the interest of full disclosure, I should admit …

Salt Equalizer, Vol. 2015, Issue 1, Society Of American Law Teachers

SALT Equalizer

Contents of This Issue:

Survey Information and Methodology, at 1.

2014-15 SALT Salary Survey, at 1.

About SALT and SALT Membership, at 3.

Survey Instrument, at 5.

SALT Salary Survey 2013-2014, at 5.

Keeping The State’S Secrets: Ireland’S Road From ‘Official’ Secrets To Freedom Of Information, Michael Foley

Books/Book chapters

The introduction of the Freedom of Information act in Ireland in 1997 was a profound change for a state, a civil service and political system far more comfortable with official secrets. It has had a transformational effect on relations between citizen and the state, and has been useful for journalists despite many challenges. After its introduction it was then amended, with high costs and limitations imposed. It has subsequently been amended again to restore much of its previous powers.

Bridgefunding Crowdfunding And The Market For Entrepreneurial Finance, Seth C. Oranburg

Law Faculty Scholarship

This Article explores the business environment of entrepreneurial finance through the lens of securities regulations. It finds that regulators should be more concerned with protecting investors from startup failure than from crowdfunding fraud. It recommends an amendment to Regula- tion Crowdfunding that may enable startup success: the limit on fun- draising should be raised from $1 to $5 million.

Work Made For Hire – Analyzing The Multifactor Balancing Test, Ryan G. Vacca

Law Faculty Scholarship

Authorship, and hence, initial ownership of copyrighted works is oftentimes controlled by the 1976 Copyright Act’s work made for hire doctrine. This doctrine states that works created by employees within the scope of their employment result in the employer owning the copyright. One key determination in this analysis is whether the hired party is an employee or independent contractor. In 1989, the U.S. Supreme Court, in CCNV v. Reid, answered the question of how employees are distinguished from independent contractors by setting forth a list of factors courts should consider. Unfortunately, the Supreme Court did not give further guidance on …

People Of The Book: Judaism’S Influence On American Legal Scholarship, My Journey From Judaism To Jewish Law, Donna Litman

Faculty Scholarship

My personal study of the Torah and the Talmud as an adult has enhanced my legal scholarship and helped shape my current thinking on legal theory. At the same time, my professional legal training and experience as a law professor has shaped my understanding of Judaism and provided a legal terminology and a lens by which to view the array of Jewish laws. A confluence of events helped shape my personal and professional journey.

The Potential Impact Of Rape Culture On Juror Decision Making: Implications For Wrongful Acquittals In Sexual Assault Trials., Meagen M. Hildebrand, Cynthia J. Najdowski

Psychology Faculty Scholarship

Feminist writers contend that Americans live in a culture that supports sexualized aggression and violence against women. This “rape culture” is reflected in our society by the pervasive endorsement of rape myths and sexual objectification of women, both of which are legitimized by everyday media. One potential consequence of living in a rape culture is that individuals may themselves come to endorse rape myths and sexually objectify women, and, in turn, perceive certain forms of sexual violence against women as defensible. This is concerning considering the significant role that laypeople play in administering justice in sexual assault cases, but research …

Restating Environmental Law, Joel A. Mintz

Faculty Scholarship

Although environmental law springs from deep roots in centuries of common law, during the last forty years in particular it has grown into a well-established and important legal field in the United States with enormous practical consequences. Maturity, however, has also made it notoriously complex, and environmental law’s overlapping statutory schemes and inconsistent federal and state programs have sparked recurring conflict, controversy, and criticism.

Rethinking The Tax-Revenue Effect Of Reit Taxation, Bradley T. Borden

Faculty Scholarship

No abstract provided.

For The Love Of Drugs: Using Pharmaceutical Clinical Trials Abroad To Profit Off The Poor, Breanne M. Schuster

Seattle Journal for Social Justice

No abstract provided.

Open Skies, Timothy M. Ravich

FIU Law Review

No abstract provided.

Table Of Contents

FIU Law Review

No abstract provided.

Salt Equalizer, Vol. 2015, Issue 2, Society Of American Law Teachers

SALT Equalizer

Contents of This Issue:

2016 SALT Annual Dinner, at 1.

2016 SALT Annual Dinner Sponsors, at 2.

Olympia Duhart & Ruben Garcia, Co-Presidents’ Column, at 2.

SALT Membership: Reduced Rates, Online Renewal, at 3.

SALT Files Amicus Brief Supporting University Diversity Efforts, at 4.

B.A. to J.D. Pipeline Event, at 5.

Junior Faculty Development Workshop, at 5.

Professor Justin Hansford Receives SALT Junior Faculty Award, at 6.

SALT Announces Co-Presidents Elect, Incoming Board of Governors, at 6.

SALT Comments on Revised Pay As You Earn Regulation, at 6.

Upcoming Events, at 7.

SALT Mourns the Loss of Former Board Members, …