The DAO (a for-profit Distributed or Decentralized Autonomous Organization) raised more than $100 million to support the sharing economy, making it the largest crowdfunded project in human history.1 However, a careful look at the constitution of The DAO reveals that its legal ambiguities contributed to the resolution of its infamous hack in June of 2016….
Category: Blog Articles
Blockchain Technology Can Help Law Enforcement
Blockchain is a distributed ledger that enables individuals to conduct exchanges and can eliminate third-party involvement.1 Blockchain technology enables the first incident in which peers can conduct transfers of value directly, fostering increased efficiency in financial transactions.2 Furthermore, as a result of eliminating the traditional reliance on a bank, blockchain technology makes it cheaper for…
The CFPB and the DC Court of Appeals: A Rebuke and Question of Constitutionality
On October 11, the U.S. Court of Appeals for the District of Columbia delivered what is perhaps the biggest setback to the Consumer Financial Protection Bureau (CFPB) to date. The court held the structure and independence of the federal government’s relatively new consumer financial monitor to be unconstitutional in an opinion rebuking the CFPB for…
What a Trump Presidency Means for Detroit
After January 20th, two things are certain: Donald Trump is the President and Detroit is experiencing a robust comeback after filing for municipal bankruptcy four years ago. Donald Trump has promised to renegotiate trade deals and lower the corporate tax rate. If Trump can make good on his promises, how will these changes impact the…
Issues of Cybersecurity and Issues with Material Adverse Change Provisions
On July 25, 2016, it was announced that Verizon would buy Yahoo for $4.83 billion.1 On September 22, 2016, Yahoo announced that personal data from at least 500 million accounts was stolen back in 2014.2 During a merger and acquisition, both parties undergo an extensive due diligence process. Part of this process does includes the…
Conflict Minerals: A Noble Cause, a Controversial Solution, and an Uncertain Future (Part 2 of 2)
In the previous installment of this multi-part series, I briefly laid out the historical context that was the impetus for Section 1502 of the Dodd-Frank Act. In this installment, I will describe the mechanics of the final rule promulgated by the SEC. The final rule is Rule 13p-1 of the Exchange Act, which was adopted…
A bite out of someone’s Apple: What’s at stake with Apple v. Samsung
Last month, for the first time in over one-hundred years, a design patent was front-and-center in a Supreme Court case. The world’s two top smartphone manufacturers, Apple and Samsung, have been battling since 2011 over design patents that cover essential features of their ubiquitous smartphones.1 It started with late Apple CEO Steve Jobs’ vow to…
The Verizon-Yahoo Merger
The Deal In July 2016, Verizon announced plans to acquire Yahoo for $4.8 billion.1 The announcement followed a period of decline for Yahoo, and an unsuccessful attempt to shift the company’s operation towards the mobile market. The company made numerous acquisitions, including social media site Tumblr, in an effort to broaden its audience.2 However, despite…
Uber in China, Part 2 of 2
The first part of this series explored and discussed the background July 2016 merger of Uber China and its largest competitor, Didi Chuxing. This blog will discuss the particulars of that agreement as well as the developments in the story of the merger that have occurred in recent months. As discussed more fully in the…
NYC Short-Term Rental Regulations Cause Problems for Airbnb, but May Benefit Renters
On October 21, 2016, New York governor Andrew Cuomo signed into law new restrictions on short-term apartment rentals.1 The restrictions have dire implications for companies like Airbnb and other home-sharing websites. It is now illegal in New York City to advertise your entire home or apartment on Airbnb for less than 30 days.2 The rule…