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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: July 31, 2010 at 10:41:00

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...

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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...

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