JOURNAL OF BUSINESS ENTREPRENEURSHIP & THE LAW
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Online Lenders Shouldn’t Get Mad Over Madden

Online Lenders Shouldn’t Get Mad Over Madden

The Second Circuit’s surprising decision in Madden v. Midland Funding caused consternation within the financial services industry. There, the Madden Court held that the National Bank Act’s pre-emption of state usury law did not apply to consumer debt sold by banks to third parties. Under the Second Circuit’s ruling, third-party buyers could not be certain of loan values, potentially making consumer finance markets less liquid. This decision immediately sparked concerns from the alternative finance industry,…
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Regulating Moral Hazard: The True Risk of Dodd-Frank’s Risk Retention Requirement

Regulating Moral Hazard: The True Risk of Dodd-Frank’s Risk Retention Requirement

Dodd–Frank was implemented in response to the Great Recession as a means to curb abuses on Wall Street. The Act mandated broad reform of the financial system, and in particular, required regulators to promulgate rules controlling the complex structure of Asset-Backed Security (ABS). Dodd–Frank required securitizers to retain a portion of the credit risk associated with ABS. The goal was to curb moral hazard—the market failure commonly blamed for the Financial Crisis. However, there is…
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The Legal Aspects of Portfolio Margining: A Move Toward the LSOC Model

The Legal Aspects of Portfolio Margining: A Move Toward the LSOC Model

This Article focuses on the legal aspects of “portfolio margining” in the United States and their potential for reducing costs and facilitating the management of collateral for the participants involved. First, this Article outlines the level of protection that customer “margin” deposits receive in clearing systems using a Central Counterparty (CCP). Second, it explains the process of portfolio margining from a legal perspective and discusses the benefits of adopting these arrangements. Thirdly, it argues that…
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Clarifying the Original Clawback: Interpreting Sarbanes-Oxley Section 304 Through the Lens of Dodd-Frank Section 954

Clarifying the Original Clawback: Interpreting Sarbanes-Oxley Section 304 Through the Lens of Dodd-Frank Section 954

In the early 2000s, major accounting scandals involving reporting violations and audit failures sent the United States financial markets into turmoil. Congress and President George W. Bush reacted to the controversy by passing the Public Company Accounting Reform and Investor Protection Act, better known as the Sarbanes–Oxley Act (SOX), in July of 2002. Section 304 created an explicit procedure, whereby the SEC could disgorge or clawback a CEO or CFO’s incentive-based compensation or stock gains…
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JBEL Symposium 2018

JBEL Symposium 2018

The Journal of Business, Entrepreneurship & the Law invites you to attend its annual symposium on March 28, 2018 at Cross Campus in Santa Monica. This year, the event will feature highly reverenced legal counsel and entrepreneurs, whose distinct perspectives will provide us with a 360-degree view of the legal implications for start-ups and stimulate discussions pertaining to protecting the integrity of developing brands, the evolution of start-ups, and the successes and failures of start-ups, all…
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Post Co-Authorship and Past Congeniality: Creative Relationship Spoils

Post Co-Authorship and Past Congeniality: Creative Relationship Spoils

Synergy is the sharing of talent and ideas, the combining of two or more minds in order to produce a product superior to anything one is capable of creating alone. Partnerships may look like a constructive arrangement, one where everyone benefits. Maybe that is the case in the beginning, but what happens when the relationship falls apart? What is the consequence of that fleeting love affair or late night bar fight? In the context of…
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Keeping Secrets: The Case for a North American Trade Secret Agreement

Keeping Secrets: The Case for a North American Trade Secret Agreement

In this paper, I attempt to give an overview of the statutory trade secret protections available in the United States, Canada, and Mexico, and suggest a solution to the problem of inadequate and confusing trade secret legislation: an international agreement between the NAFTA signatories criminalizing the theft of trade secrets. Download Full Comment Here
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Who’s Preparing for the Pecuniary Downside of the Merger? Economy: The Imperative in the Reunification of North and South Korea

This Comment views the North and South Korea's reunification process in light of economic principles and policies. This Comment broadly summarizes the role/need of foreign investors in North Korea for the preparation of the reunification. First, this Comment briefly reviews the History of North and South Korea. Second, this Comment scrutinizes North Korea-its economic history, current economy, and predicted future. Third, this Comment will link economy and reunification, will explain why reunification is more than…
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Is Copyright Evolving or Mutating? What American Broadcasting Cos. v. Aereo, Inc. Says About U.S. Copyright Law in the Twenty-First Century

In this article, I will look in-depth at the case of American Broadcasting Cos. v. Aereo, Inc. (Aereo). Aereo centers on an alleged infringement of American Broadcasting Company's (ABC)'s public performance right that was achieved through a complicated technological process meant to circumvent the law. In its opinion, the Supreme Court of the United States tries to stretch the language of the Copyright Act to apply to new technology by analogizing it with more familiar…
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