The European Union dealt a blow to major online service providers when the European Parliament approved an overhaul to existing copyright laws that place an affirmative duty on the tech industry’s biggest players to monitor their websites for potentially infringing content. The Copyright Directive, as it’s called, has been the subject of intense lobbying from…
Month: April 2019
Delaware Chancery: No Fiduciary Duty To Maximize Earn Out In Acquisitions
Fiduciary duties typically require one to act in the best interests of their beneficiary, even if those interests may conflict with their own. This can present issues when part of the consideration for an acquisition is contingent on the future performance of the target, otherwise known as an “earn out.” If the buyer completely controls…
Financial Inclusion and VAT Treatment of Mobile Money Services
Innovations in the financial sector have broadened access to finance and altered the operation of capital markets. One of the fastest-growing financial technologies (Fintech) resulting from the digital revolution is mobile money services, where customers use their mobile device to receive, store and spend money. As the advent of Fintech baffles lawyers and regulators alike,…
Private Ownership and Practical Practice in Major Law Firms
Major law firms are anachronisms according to the logic of the cool-headed economists and management theorists. Ever since Berle and Means first preached the division of owners and managers in their seminal work, most shareholders exist separately from management, preferring a passive voice when it comes to directing the actions of their firms, and by…
FDA Moves Forward with Proposal to Combat Teen E-Cigarette Use
On March 13th, the FDA issued a proposal to combat the rise in teen e-cigarette and cigar use.1 Data has shown that more than 3.6 million middle and high school students were e-cigarette users in 2018, an increase of 1.5 million students since 2017.2 Data also indicated that flavored cigarettes are becoming more popular among…
The Siphoning of American Innovation: How China Acquires Technology
You have probably heard by now that China is stealing America’s intellectual property. This has been one of the primary issues in President Trump’s trade war with China—and for good reason. Keith Alexander, the former Director of the National Security Administration, has called this theft the greatest transfer of wealth in history.1 The transfer of…
The Legality of Cashless Stores: Tension Between Innovation & Discrimination
The first time I walked into a Sweetgreen, a fast-casual food chain tailored toward “simple, seasonal, healthy food”,1 I noticed a sign that the business would not accept cash.2 Sweetgreen was the first food chain where I noted the deliberate change in how transactions might be conducted going forward. The sign provided a link for…
Implications of SCOTUS Review of Use of Pay History for Determining Starting Salaries
Following the 9th Circuit’s April 2018 decision in Rizo v. Yovino, circuits were split on the question of whether past salary information can be a relevant factor in a company’s defense against Equal Pay litigation.1 Following the Rizo decision and the passage of state and local legislation banning the use of salary history in compensation…
Adding to the Madness: The Economic Impact of Legal Sports Betting After Murphy
March Madness is here. The NCAA Men’s Basketball Tournament, referred to as the “Big Dance,” is unlike any other tournament, with 68 teams narrowing down to one champion in a matter of three weekends. This year’s tournament promises to bring excitement and passion similar to years past, with the additional excitement of more legal gambling.1…
Updates to Credit Default Swap Terms: Too Little, Too Late?
Credit default swaps became notorious financial instruments and symbols of financial engineering run amok during the 2007-8 financial crisis. Once worth over $60 trillion a year, the credit default swap market has shrunk significantly, but it is still worth nearly $10 trillion a year.1 A credit default swap is a financial derivative contract that pays…