JOURNAL OF BUSINESS ENTREPRENEURSHIP & THE LAW
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A Tale of Tulips: A Counterpoint to Courts Codifying Collectibles

A Tale of Tulips: A Counterpoint to Courts Codifying Collectibles

The goal of this Note is to educate the courts and public of the patent inconsistencies and latent implications of judicial interference in the art and collectibles market, as prosecutors, judges, and the public risk unraveling the delicate fabric of its legal and economic framework. Part II of the Note will closely examine the economics of the art and collectibles marketplace, from internal changes at the auction house to external changes in the global marketplace.…
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To Be Creditor or To Be Shareholder, That Is the Question: Is the Debt-For-Equity Swap Creditors’ Financial Suicide?

To Be Creditor or To Be Shareholder, That Is the Question: Is the Debt-For-Equity Swap Creditors’ Financial Suicide?

This Article deals with debt-for-equity swap-related issues in Korean corporate restructuring procedures. Debt-for-equity swaps were widely employed during the Latin American foreign debt restructuring process, but the Korean case is slightly different. Because the creditors of reorganizing corporations are mainly Korean domestic financial institutions rather than foreign creditors, this type of financial scheme is applied under local law. The following examines the legal aspects of debt-for-equity swaps, which have been promoted as a way to…
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The Perfect Storm Is Brewing Once Again: What Scaling Back Dodd-Frank Will Mean for the Credit Default Swap

The Perfect Storm Is Brewing Once Again: What Scaling Back Dodd-Frank Will Mean for the Credit Default Swap

The current presidential administration has expressed a concerted desire to “scale back” and even “get rid of” the Dodd–Frank Wall Street Reform and Consumer Protection Act (Dodd–Frank). Focusing specifically on Dodd–Frank’s regulation of the credit default swap (CDS), this Article explores two timely queries. First, whether Dodd–Frank’s regulatory response to these financial instruments is a justifiable one, and second, what effect a repeal may have. This Article will show that the “perfect storm” CDS—which contributed…
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Occupational Licensing: Quality Control or Enterprise Killer? Problems that Arise When People Must Get the Government’s Permission to Work

Occupational Licensing: Quality Control or Enterprise Killer? Problems that Arise When People Must Get the Government’s Permission to Work

This Article is organized into six parts: Part one (the current section) provides the reader with an introduction and overview of the issues that have arisen because of states’ ever-expanding regulation of occupations requiring qualifications and credentials for holding certain jobs. Such qualifications often appear totally unnecessary to one’s ability to safely and competently perform a job. Part two provides background information on the Lochner Era of Supreme Court jurisprudence, the aftermath of the Lochner…
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Is the NCAA Finally Loosening Its Iron Grip On College Basketball By Allowing Underclassmen the Opportunity to Return to College After Declaring for the NBA Draft?

Is the NCAA Finally Loosening Its Iron Grip On College Basketball By Allowing Underclassmen the Opportunity to Return to College After Declaring for the NBA Draft?

The National Collegiate Athletic Association (NCAA) Oversight Committee has proposed a new rule that allows undergraduate college basketball players to reject the National Basketball Association (NBA) and return to school after they have submitted their name for the draft. This rule represents a great change in the policies that regulate college sports, specifically college basketball. The NCAA has ruled college basketball with an iron fist, but with this new proposal, it seems that it is…
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The World Wide Web Extension: From Dot-Com to Dot …Everything

The World Wide Web Extension: From Dot-Com to Dot …Everything

Today businesses are facing a new Internet dilemma. The Internet Corporation for Assigned Names and Numbers (ICANN) recently granted the public the opportunity to operate and register domain names under a plethora of generic domain extensions. Although no one knows exactly what this new program’s effect will be, the buzz around it informs business owners of a renewed need for innovation. And who is at the forefront of this new era of technology? Internet powerhouses…
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To Be a “Whistleblower,” or Not to Be a “Whistleblower? ” That Is the Question-Whether ‘Tis Nobler in the Mind of the Courts to Suffer for Reporting Wrongdoing to the SEC or Employers Internally: Examining the Recent Circuit Split Regarding the Definition of a Whistleblower Under Dodd-Frank

To Be a “Whistleblower,” or Not to Be a “Whistleblower? ” That Is the Question-Whether ‘Tis Nobler in the Mind of the Courts to Suffer for Reporting Wrongdoing to the SEC or Employers Internally: Examining the Recent Circuit Split Regarding the Definition of a Whistleblower Under Dodd-Frank

Under the current state of the law, the circuit courts are split over whether an employee must report corporate wrongdoing directly to the Securities and Exchange Commission (SEC), or report wrongdoing to a company’s management in order to receive whistleblower protection under Dodd–Frank. The resolution of this circuit split not only will have implications for American employees caught in situations similar to the fiction above, but also will provide a prime opportunity for the Supreme…
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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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