The Journal of the Business Law Society: Legal Journals

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Legal Journals

The Journal of the Business Law Society

A University of Illinois College of Law Student Publication containing up-to-date, analytical commentary on recent developments in the area of business law, including topics such as banking and finance, corporate governance, securities regulation, real estate, technology, and sports.

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Last Entry: March 12, 2009 at 02:00:10

The Illinois Business Law Journal is Relocating!

Posted on March 12, 2009
It is my pleasure to announce that the Illinois Business Law Journal is moving to a new home on the Illinois Law website! Thank you for your patience as we finally complete our relocation process to the following web address:http://www.law.uiuc.edu/bljournal/Please...

Is China Ready to Establish the Stock Index Futures Market?

Posted on November 23, 2008
I. Introduction As a derivative financial product, Stock Index Futures (SIF) is distinguished because of its function in risk management when used duly. China is eager to introduce SIF to offer downside protection to investors, stabilize its stock market, and...

Zoning and Regulation of Detroit?s Adult Entertainment Businesses: Has it gone too far?

Posted on November 19, 2008
I. Background Detroit has been working hard to revive the city and bring residential growth to the downtown area. [1] Millions of dollars have gone into renovating historic buildings, creating new public transportation, reviving the riverfront and building residential lofts...

Sovereign Wealth Funds-The Newest Danger Facing the U.S. Economy

Posted on November 18, 2008
I. Introduction Amidst a global economic ?credit crunch,? world economies are desperately seeking dependable sources of investment into their financial institutions, in an effort to regain liquidity into their markets, enabling lending institutions to continue their day-to-day activities...

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Constitutional Property Rights over Oil Investments in Brazil

Posted on November 12, 2008
I. Introduction On November 8, 2007, the head of upstream regulator of Brazil Agencia Nacional do Petróleo (ANP) confirmed the discovery of a huge amount of ultra-deep oil field in Tupi [1], which increased 50% of Brazil's total oil reserves....

Preventing Price-Gouging of Gasoline after Natural Disasters

Posted on November 11, 2008
Introduction In 2007, in response to the public?s anger about the high cost of gasoline after the hurricane disasters, the House of Representatives drafted and passed the Federal Price Gouging Prevention Act (?FPGPA?), which reads in part: ?It shall be...

Get On The City Bus: The Future of The American Suburb and Her Automobiles

Posted on November 11, 2008
Introduction Jane Jacobs? 1961 book, the Life and Death of Great American Cities revolutionized the way Americans viewed the streets that stretched beyond their front door. In critiquing the programs of her era?s urban planners, Jacobs held up the sentimental...

And the Walls Came Tumbling Down: Deregulation & the Current Financial Crisis

Posted on November 10, 2008
I. Introduction While intellectuals, economists, bankers, and pundits try to explain the ins and outs of the economic downturn we are currently facing, many on "main street" are asking "what happened to make my 401k retirement savings account diminish so...

Non-Compete Agreements: Friend or Foe?

Posted on November 05, 2008
I. Introduction In today's economical climate, the excitement of finding a new job can be overwhelming. Additionally, In the rush of starting work, it is easy to skim the fine print of a contract without fully understanding its terms. Non-compete...

Chipping Away at the RIAA's "Making Available" Theory of Copyright Infringement

Posted on November 04, 2008
I. Introduction On September 8, 2003, the Recording Industry Association of America (RIAA) filed copyright infringement lawsuits against 261 individuals for sharing songs on peer-to-peer (P2P) networks.[1] In the five years since, the RIAA has sued, settled, or threatened litigation...

Merger Talks in Detroit Auto Business

Posted on November 03, 2008
I. Introduction Since September, General Motors ("GM") and Chrysler's majority owner, Cerberus Capital Management have been in talks over the possibility of acquiring Chrysler. [1] Both companies are facing a financial crisis as both have suffered huge losses during this...

Tamed Tigers: Sovereign Wealth Funds as Passive Investors

Posted on November 02, 2008
I. Introduction The purpose of this article is to analyze the current role of sovereign wealth funds in a corporate governance scheme. Sovereign wealth funds, which have become increasingly important institutional investors in the United States, have found their activities...

Wall Street to Fraud Street: Disgruntled Investors Want Compensation

Posted on October 20, 2008
I. Introduction With the financial crisis showing no signs of recovery many are worried about employment, job security, investments, and the overall economy. With the collapse of Lehman Brothers Holdings, the buyout of Merrill Lynch along with several other Wall...

New Stadiums, Higher Prices, No Remedy

Posted on October 14, 2008
I. Introduction It seems like every sports franchise is building a new stadium these days. In New York alone, four franchises (the Yankees, Mets, Giants, and Jets) will be moving to three new facilities within the next two years. [1]....

Banking Acquisitions during the Financial Crisis

Posted on October 10, 2008
I. Introduction When the housing crisis was at its lowest point, entire neighborhoods were experiencing the possibility of foreclosure as residents defaulted on their mortgage payments. Foreclosures and consumer defaults have not only damaged the housing market but also have...

Salute Your Shorts

Posted on October 01, 2008
I. A Short Introduction With the recent collapse of numerous financial institutions, the practice of short-selling (?shorting?) has come under fire. Some authors have gone so far to claim that the actions of short-sellers (?shorters?) are among the core reasons...

The First Step to Success: Securing Funding For Your Small Business

Posted on September 30, 2008
I. INTRODUCTION Anyone who has considered starting a new business can attest to the excitement that comes along with being one's own boss, setting one's own hours, and turning a personal dream into reality. However, once the initial thrill wears...

Political "Celebrity" Ads and the Right of Publicity

Posted on September 29, 2008
I. Introduction With the 2008 presidential campaign expected to break spending records, it is no surprise that both major political parties are flooding swing-state airwaves with television advertisements. While recent elections have produced the much-discussed "swift boat" and "3 a...

The Sophisticated User Doctrine: Fair or Fowl

Posted on April 25, 2008
Introduction Keith Wilson is a well trained ventilation and air conditioning (HVAC) technician. [1] Trained both on and off the job, Mr. Wilson had the highest certification available from the Environmental Protection Agency ("EPA"), a training that required passing a...

Home Is Where the Most Economically Beneficial Laws Are: Finding the Best Location to Incorporate Your Business

Posted on April 24, 2008
I. Introduction There are very few requirements for a business to be incorporated in a given state. The business must usually have a registered agent in that state, but rarely are there requirements to construct an office or actually engage...

Cyberbullying: A Modern Problem

Posted on April 22, 2008
A girl kills herself because she finds out the boy she liked on MySpace.com (?Myspace?) was actually a couple of girls, allegedly assisted by their parents, making fun of her. [1] Another teenager is lured to a girl?s home and...

Is Your Ad Deceptive?

Posted on April 22, 2008
I. Introduction Small business owners often take out an advertisement in a local paper or, more in line with the times, advertise on a website. The advertisement, however, can sometimes create liability for the business owner if the ad is...

Primary Dealers Credit Facility: Changes for Market Liquidity

Posted on April 21, 2008
I. Introduction On March 17, 2008, Bear Stearns, one of the oldest and largest global investment firms on Wall Street unexpectedly collapsed and was sold to J.P. Morgan Chase & Co at a fire-sale price of $2 a share in...

BALCO?d: How Will the Tammy Thomas Conviction Affect Barry Bonds and Future Steroids Cases?

Posted on April 21, 2008
I. Introduction Barry Bonds? publicity may arise from his feats on the baseball diamond as Major League Baseball?s (?MLB?) all-time home run king, or it may arise from allegations that he took anabolic steroids to gain an edge on the...

Enron and Citigroup Settle: MegaClaims Litigation Comes to an End

Posted on April 16, 2008
I. Introduction In late March Enron Creditors Recovery Corp. ("Enron") settled its latest and final MegaClaim against Citigroup, the largest bank in the U.S. [1] Citigroup agreed to pay $1.66 billion to Enron over its alleged responsibility in Enron's downfall...

Ambiguity In Contemporary Money Laundering Statutes

Posted on April 15, 2008
I. Introduction At the end of last year, the United States Supreme Court granted a petition for writ of certiorari for the appeal of convicted felon Humberto Fidel Regalado Cuellar. [1] The Court's ultimate decision in the case of United...

Is a Frachise for You? Making the Right Decision on Starting a Franchise

Posted on April 15, 2008
I. Introduction Starting a franchise can be a lucrative business. However, franchising is also an expensive start-up venture and can have significant legal consequences if not done properly. This article will first define a franchise and discuss the different types...

M&A Trend In 2008

Posted on April 15, 2008
In the first financial quarter of 2008, a steady trend in M&A activity is patent. The weak dollar, the economic slowdown, banks? lack of liquidity, or the motivation to add shareholder value are all viable reasons for the trend in...

Unauthorized Aliens and Credit Cards: Are Banks Violating Federal Law?

Posted on April 14, 2008
I. Introduction An estimated 11.6 million unauthorized aliens [1] are currently in the United States. [2] This growing population has not gone unnoticed by American financial institutions. For years banks have offered checking and some savings accounts to aliens without...

Corporate Social Responsibility in China: Can Consumers Alter Inadequate Legal Enforcement?

Posted on April 14, 2008
Introduction Competitive advantages direct the trend toward international business and multinational corporations. [1]. Interestingly, a situation may arise where multinational corporations are not subject to international laws because they do not have the requisite international legal personality, not subject to...

The Vick Saga: A Personal and Business Tragedy

Posted on April 11, 2008
Introduction We all know that Michael Vick was recently sentenced to do a twenty-three month term in federal prison. [1] Most of us even know why he got the sentence and have made our judgments based on whether we love...

Will the XM-Sirius Merger Pass FCC Regulations?

Posted on April 10, 2008
I. Introduction On February 19, 2007 satellite radio rivals Sirius Satellite Radio and XM Satellite Radio announced their intention to merge. [1] Both companies have experienced billions of dollars in losses. [2] Their net debt is approximately $1.6 billion...

Lawyer-Turned-Entrepreneur: How the Collision of Diverse Careers can Blend into Success

Posted on April 07, 2008
I. Introduction At first glance, it looks as though lawyers and entrepreneurs don't have much in common. The legal profession "offers a low-risk (if high-stress) means to a long, relatively well-paid, and tightly-controlled career at a privately-held law firm or...

Nationalization of Resources in Venezuela and Beyond: Do Corporations have Recourse?

Posted on April 07, 2008
Nationalization keeps multinational corporations and investors up at night. Simply put, nationalization is an exercise of sovereignty where a country seizes private property, resources, or other investments on its soil. The country usually decides whether to pay compensation to former...

Union Strikes, Hollywood Style

Posted on April 04, 2008
The Writers Guild of America recently made history by striking, and bringing a halt to the production of television shows in Hollywood. The Writers Guild of America East and the Writers Guild of America West came together to gain rights...

Wait 'Til Next Year: When Will Comcast and The Big Ten Network Reach an Agreement?

Posted on April 03, 2008
I. INTRODUCTION When the college footballs season kicks off in August, Midwestern cable customers may finally get the chance to see what all the fuss over the Big Ten Network (BTN) is about. After over a year of tense negotiations,...

Let Franchisees Decide to Arbitrate

Posted on April 03, 2008
I. Introduction Franchises are a strong component of the U.S. economy. In 2004, there were over 767,000 franchises in the United States which contributed 9.8 million direct jobs to the economy. [1] According to a 2002 study, half of the...

Evaluating E-Discovery Software Vendors: Important Questions to Ask

Posted on April 03, 2008
I. Introduction Lawyers face many challenges in the litigation process. Many of these challenges present themselves during the discovery process, which can be incredibly expensive. [1] With the ubiquitous nature of current technology, especially in the business world, the discovery...

Fantasy or Reality? Major League Baseball Still Looking to Cash in on Fantasy Baseball

Posted on April 01, 2008
I. Introduction In fantasy sports leagues, fans draft current major league players to create their own imaginary roster, with the success of each team hinging on how each player performs throughout the season.[1] Internet sites such as Yahoo! and ESPN...

Fannie Mae and Freddie Mac: Setting the Industry Standard

Posted on April 01, 2008
I. Introduction After the six year housing boom ended in the summer of 2006, home sales and prices have fallen dramatically.[1] Overall home sales in 2007 dropped 26.4% from 2006, making it the biggest drop since the Commerce Department began...

Wikileaks: A Cutting-Edge Journalistic Tool or An Affront to Business Privacy?

Posted on March 28, 2008
I. Introduction Wikileaks.org, a website dedicated to compiling leaked documents from governments and corporations, has sought to hold large-scale entities more accountable for their actions through greater transparency of information. [1] However, by publishing sensitive information it believes to be...

Patent Reform Act Is Considered By U.S. Senate

Posted on March 27, 2008
I. Introduction Robust protection for intellectual property is one of the chief engines for economic growth in the United States. Patents, copyright and trademark laws provide vigorous, reliable protection for US intellectual property, which is valued at more than $5...

The Business of Law: Increased Recruitment and Declining Retention

Posted on March 26, 2008
I. Introduction Since 1986, the number of lawyers working at American Lawyer (?Am Law ?) 100 firms has tripled, and part of that growth is due to the expansion of associate recruitment and hires. [1] With the increased competitiveness, employers...

Airline Labor Disputes and the RLA Status Quo Provisions

Posted on March 26, 2008
I. Introduction On March 7, 2008, the United States Court of Appeals for the Ninth Circuit filed its opinion in the case of International Brotherhood of Teamsters v. North American Airlines. [1] It addressed the question of whether a labor...

Are Your Gift Cards Safe?

Posted on March 24, 2008
I. Introduction On February 19th, 2008 the specialty retailer Sharper Image filed for bankruptcy under Chapter 11 and announced that it would no longer be accepting its gift cards. This came as a shock to consumers, who suddenly found their...

What the Presidential Candidates Forgot to Mention about NAFTA

Posted on March 21, 2008
. . . but perhaps the most glaring omission in Obama?s and Clinton?s anti-trade rhetoric is that NAFTA already includes robust, skillfully crafted labor and environmental agreements. The same type of agreements they supported in other trade pacts.

The Electronic Trading System ? the Sleepless Futures Markets

Posted on March 20, 2008
In 1997, Joseph B. Dial, then Commissioner of the CFTC, in a meeting with futures industry leaders, envisioned that screen-based systems would threaten open outcry, over-the-counter order matching systems.[1] A decade later, on October 26, 2004, the Commissioner of the...

Breach of Fiduciary Duty Suits Arising Out of Yahoo?s Rejection of Microsoft?s Offer

Posted on March 19, 2008
Last month, Yahoo!, the California-based Internet service provider, rejected a ?generous? offer by U.S. software giant, Microsoft. [1] Microsoft?s 62 percent premium above Yahoo!?s share was aimed at maximizing synergies that existed between both companies...

Liability Protection: The Keystone of a Successful Business

Posted on March 19, 2008
I. Introduction For an entrepreneur, starting a new business can be a fulfilling venture. However, if the company and its assets are not properly protected, the risks that come along with such an endeavor can prove to be costly. This...

Fidel Castro Has Finally Stepped Down: Now What Should Be Done About That Pesky Trade Embargo?

Posted on March 18, 2008
I. Introduction Fidel Castro recently stepped down as president of Cuba. Castro's health, not the 46 year trade embargo, was the primary reason for Castro's statement that he "would not seek to retain his post." [1] Anyone seeking a radical...

The Roberts Court and the Neutralization of McCain-Feingold's Corporate Finance Restrictions

Posted on March 17, 2008
I. Introduction For over a century legislatures have struggled with the issue of how to curtail the efforts of corporations seeking to substantially influence political campaigns. [1] Although campaign finance regulation has taken numerous forms throughout the years, loopholes and...

Google-Doubleclick Merger: Consolidating Online Advertising Amidst Antitrust and Privacy Concerns

Posted on March 16, 2008
Introduction After one year of red tape, the recent EU approval of the Google-Doubleclick merger finalizes a deal certain to change the current landscape of online advertising. [1]. Despite antitrust and privacy concerns, the merger was approved upon reasoning that...

Worst. Journal Article. Ever.

Posted on March 14, 2008
I. It's All in Good Taste Recently, Northern Island?s Court of Appeal overturned a jury?s decision to award £25,000 to a pizzeria in Belfast in a defamation suit.[1] In this particular case, Irish News restaurant critic Caroline Workman wrote a...

Should Complex Corporate Litigation Trials be Left to the Juries?

Posted on March 13, 2008
Corporate litigation disputes are becoming more complex as new issues arise addressing questions on statistical and/or probabilistic facts, expert testimonies, and other intricacies of the business world. This trend in litigation poses a new issue to the courts, and, more...

The Changing Korean Legal Market

Posted on March 12, 2008
I. Introduction With so much possibility, South Korea?s legal market is virtually untapped, especially considering that it is today?s 10th largest economy in the world. [1] This is because South Korean law prohibits foreign lawyers from becoming licensed to practice...

Scrabble vs. Scrabulous

Posted on March 12, 2008
Background On May 24, 2007, Facebook CEO Mark Zuckerberg announced that the privately held social networking site he founded in 2004 would open to third-party developers, transforming itself from a popular website to a platform on which other businesses can...

Can a Reasonable Expectation of Privacy Exist in Cyberspace?

Posted on March 12, 2008
Privacy has been defined as retirement and seclusion, or as ?the state of being free from unsanctioned intrusion.? [1] This evokes thoughts of physical space. [2] One may expect to have privacy behind the closed doors of their own home,...

Shades of Gray: A Perspective Behind the Skrobot Indictment

Posted on March 12, 2008
The old legal maxim proceeds, ignorantia juris non excusat or, "ignorance of the law, is no excuse!" This ancient truism, thought to have its origins in Roman law, was eventually folded into the American legal system through the early English...

Disney World Not Required to Allow Segway Use

Posted on March 11, 2008
In 2004, the Walt Disney Company officially banned Segway Personal Transporter vehicles from their theme parks. [1] These upright, two-wheel scooters allow those who can stand but not walk an easier method of navigation and greater degree of freedom than...

Varying Intellectual Property Regimes: The Reception of Gray Market Goods in the United States and the European Union

Posted on March 10, 2008
Most consumers agree that intellectual property law is essential to ensure that creators of inventions, ideas, designs, services and the like are rewarded for their creativity and to promote the continuation of such creations.[1] In order to grant creators with...

Law Firms: It?s Getting Easier To Be Green

Posted on March 10, 2008
I. Introduction The current surge in environmental awareness is affecting the way our nation does business, across a variety of industries. [1] The United Nations? Intergovernmental Panel on Climate Change?s has come to the unequivocal conclusion that our planet is...

Congressional Hearings on Steroids: Is this an efficent use of Congress' Time

Posted on March 06, 2008
Introduction In November 2007, Gallup conducted a survey of the top ten issues on the American public's priority list. [1] The list was based on "an analysis of open-ended responses to questions asking Americans to name the top priorities for...

Creating Stability in the Airline Industry through Merger

Posted on March 06, 2008
I. Introduction In the mid-1980s the airline industry experienced merger mania. Delta bought up Western. [1] Pan Am merged with National [2]. Texas International and New York Air merged with Continental and People Express. [3] Now this trend has reemerged...

The Young and the Restless: the Inevitable Trend of New Graduates towards Solo Practice

Posted on March 02, 2008
I. Introduction The word is out--as of 2007, big law firms have boosted their starting salaries to as high as $160,000. [1] Moreover, NALP has released its employment statistics for the Class of 2006, boasting a 90% employment rate for...

When In Doubt, Seek a Buyout: Indiana's Solution to the Kelvin Sampson Dilemma

Posted on February 28, 2008
I. INTRODUCTION Parting ways with a college coach accused of violating National Collegiate Athletic Association (NCAA) rules has become a delicate process. On February 8th, the NCAA notified Indiana University that its men's basketball coach, Kelvin Sampson, had allegedly committed...

Privacy Implications of Radio Frequency Identification Technology

Posted on February 28, 2008
Before Mrs. Jones leaves work on a typical Tuesday, she goes to a familiar Web site where she can view the items left in her refrigerator to determine if she needs to stop by the grocery store. She is completely...

Limited Liability: Is Stoneridge a Threat to U.S. Markets?

Posted on February 27, 2008
I. Introduction The idea that by engaging in fraudulent behavior one incurs liability for the foreseeable harm caused by such behavior is a cornerstone of the law. Therefore, it seems reasonable that by engaging in fraudulent transactions designed to manipulate...

Payday Lenders: Luring the Elderly into the Debt Trap

Posted on February 26, 2008
I. Introduction During the past few months, the credit crunch has spread to all areas of the credit market, including: commercial real estate mortgages, student loans, and even auction-rate securities that are considered as safe as cash.[1] In attempt to...

Zoning Regulations Need to Keep Pace

Posted on February 26, 2008
Many Americans take the plunge and start a small business. The predominant form of small business in the united States is home-based business. [1] Nearly 8,500 new home-based ventures are started each day with one in ten U.S. households conducting...

Booster Shot or Bandage?

Posted on February 25, 2008
An analysis on the H.R. 5140 economic stimulus package I. Introduction According to a recent Associated Press-Ipos economic study, 61 percent of Americans believe the economy is in a recession. [1] Yet, some individuals are optimistic of the direction of...

Puff-Puff, You're Unemployable

Posted on February 25, 2008
I. Introduction An increasing number of employers are refusing to hire smokers in hopes of cutting health insurance costs and increasing productivity. [1] A number of large corporations, including Alaska Airlines, Union Pacific, and the World Health Organization, have instituted...

College Football Coaching Carousel

Posted on February 25, 2008
I. Introduction Both the National Football League (?NFL?) and the National Collegiate Athletic Association (?NCAA?) have endured their fair share of high profile coaching defections either from one university to another, university to professional franchise, or professional franchise to university...

International Business Travelers Beware

Posted on February 22, 2008
I. Introduction Picture yourself in the shoes of Maria Udy, a marketing executive working for a travel management firm in Maryland. [1] Udy, a British citizen traveling from Washington D.C. to London, was pulled aside by a federal agent because...

Google Defends Its Trademark From Genericide

Posted on February 21, 2008
I. Introduction. Over the last decade, Google has quickly risen to dominate the internet search arena. The company?s rapid ascension is marked by a corresponding rise in the value and recognition of the Google trademark. In that time, Google has...

Overtime Pay and White-Collar Exemptions: Seeking Clarification in Light of Recent Revisions

Posted on February 21, 2008
I. Introduction The New York Times recently asked, "In today's perpetual workplace, where downtime has merged with work time, where you can carry your office in your pocket, where collars are no longer distinctly blue or white, how does one...

The Mail-Order Bride Phenomenon

Posted on February 21, 2008
IN A WORLD OF RISING GLOBALIZATION HOW DO THE LAW AND INDUSTRY GENERATE SAFE OPPORTUNITIES FOR PEOPLE TO MEET ONLINE IN DIFFERENT NATIONS? Contrary to popular depiction in the media and amongst the populace of western countries, the idea of...

SBA Proposes Limitations on Set-Asides to Women-Owned Small Businesses

Posted on February 18, 2008
On January 30th, 2008 women's groups rallied in protest at a hearing held by the U.S. Senate Committee on Small Business & Entrepreneurship, chaired by Sen. John Kerry (D-Mass), regarding the Small Business Administration's (SBA) recent proposal to limit set-asides...

Chinese Commerical Arbitration ? Alternative Approach for Resolving International Disputes

Posted on February 14, 2008
The New York Times characterizes China?s court system as a ?Chinese legal netherworld.?[1] Many foreign business memoirs are packed with horror stories about corrupt judges and unenforceable court decisions.[2] For foreign investors, arbitration offers a way to bypass much of...

Free Trade Agreements and US Immigration Law

Posted on February 14, 2008
Since the implementation of the General Agreement on Tariffs and Trade (GATT) in 1947, the United States has signed several free trade agreements (FTAs) that have reduced barriers to international trade. [1] While these agreements traditionally focused on reducing barriers...

A New Height For Internet Search?: The Micro-Hoo Deal

Posted on February 13, 2008
Microsoft?s Offer A $44 billion bid by Microsoft (?MSFT?) to acquire Yahoo (?YHOO?) may be an indicator of just how desperate Microsoft is to dominate the internet search market. [1] This bid may be reflective of Google?s threat to the...

Labor and Employment in the Workplace: A Hiring and Workplace Guide for New Business Owners

Posted on February 13, 2008
I. Introduction The process of starting a business that relies on outside employees is time consuming and often confusing. However, with the aid of a qualified attorney and the implementation of the proper procedures, an entrepreneur may be able to...

Scheme Liability: Devastating, Problematic, Obsolete?

Posted on February 12, 2008
I. Capital Markets With "more than half of all U.S. households," previously assessed at $57 million, participating in equity markets through "investments either directly in securities or indirectly in mutual funds" the need to maintain investor confidence is paramount...

USA PATRIOT Act, Title III: The Efficacy of Anti-Terrorism Financing Measures

Posted on February 11, 2008
I. USA PATRIOT Act, Title III On October 23, 2001 President George W. Bush signed into law the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 ("USA PATRIOT Act," or "Patriot...

La Grande Illusion

Posted on February 08, 2008
I. La Règle du Jeu Société Générale SA (?SocGen?) seemed poised to become one of the strongest and most well-respected financial institutions in Europe. In April 2007, they had acquired 75% of Banka Popullore in Albania.[1] Their stock, listed on...

Michael Nifong Files for Bankruptcy: Buys Some Time and Maybe More

Posted on February 07, 2008
Michael Nifong, the former North Carolina prosecutor made controversially famous for his rape accusations against several lacrosse players from the University of Duke, has filed for bankruptcy. [1] After resigning and being disbarred, the former D.A. filed for a Chapter...

Release the Hounds: NY Attorney General's Office Pursues Wall Street (Again)

Posted on February 07, 2008
As common as it is to find thin greasy pizza in Brooklyn, it is just as common to hear that the New York Attorney General's office is launching a zealous high-profile prosecution of Wall Street. One need only whisper the...

Outsourcing Pregnancy?

Posted on February 06, 2008
I. Outsourcing It makes good business sense to outsource operations. It cuts down on costs, delivers lower prices to consumers, and brings job opportunities to poorer countries. So why not also outsource pregnancy? India, already known as an outsourcing base,...

eLawyering and the Unauthorized Practice of Law

Posted on February 05, 2008
The legal profession has been criticized for not keeping up with technological advances [1], arguably leading to less efficiency in the practice of law. Websites like LegalZoom.com and LegalAdviceLine.com are at the cutting edge of changing that. [2] While most...

Careful Where You Click: End User License Agreements Contain Information You Need To Know

Posted on February 05, 2008
How many people actually read the "fine print" of product license agreements before opening a new software package or deploying the radio button next to "I Agree" and going about their business? Doing so on a regular basis before unwrapping...

Multidisciplinary Practices: Unethical or Inevitable?

Posted on February 04, 2008
I. Introduction Multidisciplinary practices, or MDPs, have long been the subject of acrimonious debate between two opposing campaigns, each citing passionate reasons for why the organizational structure should be formally established or definitively barred...

Securities and Exchange Commission: Transforming Rule 14a-8 To Allow Shareholders Increased Voting Power

Posted on February 04, 2008
I. Background While the decision of the Second Circuit Court of Appeals binds many public companies of that specific jurisdiction, the SEC must now decide whether to propose a clarifying change to Rule 14a-8(i)(8) ("the Rule"), binding all companies subject...

Spring Publication Starting Soon!

Posted on January 27, 2008
We are back from our winter break and will be starting our spring publication cycles on February 4, 2008. Please check back often as our content will be updated each weekday. We would also like to congratulate our newly appointed...

The Format Wars

Posted on November 28, 2007
I. The Phantom Menace for Consumers High Definition Television (HDTV) was first demonstrated to the public in 1969 and made commercially available in the mid-1990s.[1] However, upon being made commercially available, HDTV created a problem for consumers who wished to...

Following the LEEDer: What Attorneys Should Know About Green Building

Posted on November 28, 2007
Green building is gaining momentum as a construction trend with widespread benefits, from environmental efficiency and resource conservation to human health and lifestyle improvement. Several government entities have reacted to the green building movement, creating national and local standards and...

Abandoned Software

Posted on November 28, 2007
Piracy, the copying and distribution of software without permission from the copyright holder, is a major concern for those involved in the IT industry. Losses due to software piracy have been estimated at 33 billion dollars per year, [1] although...

Homeowners? Associations & Their Limitations on Free Speech

Posted on November 26, 2007
I. Introduction Free speech is a right guaranteed by the First Amendment, but is it possible to give up this right if you move into a neighborhood governed by a homeowners? association? The New Jersey Supreme Court had to decide...

FMRI and DNA Gene Sequence Mapping Provide Promising Technologies with an Orwellian [1] Price Tag

Posted on November 23, 2007
I. Introduction Functional Magnetic Resonance Imaging (FMRI) and DNA sequence mapping provide technologies that offer society unprecedented benefits, but at a cost that we are only beginning to understand. [2] FMRI, for example, enables researchers to map the brain's neurons...

SEC?s recent report on Executive Compensation Disclosure

Posted on November 22, 2007
INTRODUCTION On this October, the Securities and Exchange Commission published observations from its review of the executive compensation disclosures from 350 public companies that were filed during the latest proxy season.[1] This report is very important for both companies and...

Google's Book Search Library Project Faces Copyright Challenges

Posted on November 21, 2007
I. Introduction Google?s stated mission is ?to organize the world?s information and make it universally accessible and useful.? [1] As part of that mission, the Google Book Search Library Project is scanning and organizing printed books from dozens of libraries...

IPO of China Construction Bank

Posted on November 20, 2007
The Initial Public Offering (?IPO?) of Industrial and Commercial Bank of China (?ICBC?) set the record for the amount of money raised among all IPOs ever made over the world. The IPO of ICBC was actually one of the steps...

A Novel Solution to an Ancient Problem: Could the Design Piracy Prohibition Act Offer Fashion Designs Complete Protection from Imitation?

Posted on November 20, 2007
Fashion is not simply a fad. It is here to stay. Clothing is not only a necessity, but a way to make a statement. The global fashion industry sells more than $750 billion of apparel annually.[1] Major fashion design firms,...

Sonic Boom or Bust: Franchise Relocation in the NBA

Posted on November 20, 2007
I. Introduction The emergence of today?s state-of-the-art basketball arena has National Basketball Association (?NBA?) team owners holding cities hostage. Team owners seek public funding for these stadiums, and if the city refuses to provide the funding, there are always smaller...

Chinese Anti-Monopoly Law: a Pretext for Local Protection or an Aspiration to Comply with the International Norm?

Posted on November 19, 2007
Chinese anti-monopoly law (?AML?) was enacted on August 30, 2007, which is the first comprehensive competition law in China?s history. [1] The Chinese AML was drafted within the context of three principal competition concerns: regional monopolies (local protection); sectoral monopolies...

Financing Space Assets and Private Business Entities - Part II

Posted on November 18, 2007
III. Debtor?s Rights and Related Rights A. Background Since space assets require huge amount of money, the space industry takes a great effort to get finance for manufacturing and maintaining them. Large scale entities use their own surplus and other...

Have Brokers been Blowing the Housing Bubble?: Improper Ties between Brokers and Appraisers

Posted on November 16, 2007
I. Introduction Amidst all the recent talk of a housing bubble,[1] allegations have been leveled that mortgage providers have been encouraging the overvaluation of homes. The charge is that lenders have coerced appraisers to overprice properties in order to justify...

The Art of Registering a Business: Picking the Right Method of Registration for Your New Business

Posted on November 14, 2007
I. Introduction Starting a new business can be a scary venture for a new entrepreneur. Beyond picking a location, hiring personnel and establishing a clientele base, deciding how to register the business can be an important decision with lasting implications...

Instant Messages: An E-Discovery Nightmare?

Posted on November 14, 2007
I. Introduction Instant Messages (IMs) have become an increasingly popular method of communication, both in the personal and business world. [1] They have the benefit of being an efficient, rapid and oftentimes free means of communication. [2] IMs are often...