Many members of the public have voiced concerns about whether certain companies need greater regulation.[1] These concerns mainly stem from the actions of companies such as Facebook, Google, Apple and Amazon (“tech companies”).[2] Antitrust enforcement agencies have considered whether current regulations need to be re-evaluated in light of modern technological issues.[3] Law enforcement officials have also re-evaluated what powers should be granted to these companies[4] and Federal Trade Commission (“FTC”) hearings have recently taken place.[5] In September, top Justice Department officials met with fourteen state attorney generals to discuss the privacy and competition issues arising with tech companies.[6] Specifically, they…
Author: Jeceaca An
Debt is such a commonly known concept for people living in the 21st century, yet it has a long history. Tracing back to Mesopotamia 2000 BCE, the first instances of lending and borrowing came from farmers who borrowed seeds and animals against a later payment.[1] Over thousands of years, the process of lending has grown into more creative and complicated forms. Today, debt is an important component in corporate capital structures. Debt facilitates better usage of cash and boosts higher corporate growths. However, after the 2008 great financial crisis (“GFC”), banks have gradually tightened the lending requirements for private businesses…
For our economy to be in its best condition, we need to focus on growing our economy, generating more jobs, and maintaining competitiveness within our country.[1] One way to encourage a healthy, growing economy is to promote innovation.[2] Innovation is a significant component of our market. Since World War II, 75 percent of U.S. growth can be attributed to innovation.[3] Given how important innovation is to the U.S. market, it is not surprising that issues concerning innovation and patent law often conflict within the framework and policies of antitrust law.[4] Both patent and antitrust laws promote “dynamic efficiency” by regulating…
Take a brief moment to look around at your surroundings. Ask yourself, “how much of the ‘stuff’ in the room is directly or indirectly related to a corporation?” 150 years ago, the answer would have been very little. But today, there can be no doubt that corporations are intimately involved in all aspects of our lives. In light of that fact, it is appropriate to consider: (1) why we have corporations; (2) where they come from; and (3) how they will impact our future. Part One: What Exactly is a Corporation? A corporation is a legally distinct entity that has…
The Fordham Journal of Corporate & Financial Law held its annual symposium on Friday, October 27, 2018, entitled “The Future of the New International Tax Regime.” The event featured the nation’s leading legal and economic experts on international taxation. The discussion focused on the new tax regime established by the Tax Cuts and Jobs Act of 2017 (“TCJA”). Keynote and First Panel: TCJA Provisions and the Importance of Tax Treaties The event began with a keynote address by Rosanne Altshuler, Professor of Economics at Rutgers University, entitled “Why I’m Guilty of Liking the GILTI: The Case for a Minimum Tax…
In August of 2018, Massachusetts Senator Elizabeth Warren introduced a bold new bill to the 115th Congress, aptly titled the Accountable Capitalism Act (the “Act”).[1] Senator Warren proposed a number of shifts in corporate governance[2] that would tackle a mounting national concern over uneven wealth distribution, which many believe is rooted in the doctrine of shareholder supremacy.[3] The Act mandates the creation of an “Office of United States Corporations,” which would operate as a national registry to oversee companies with over $1 billion in annual profits.[4] While the creation of a national registry seems like an unassuming change at the surface…
Emotions run high as the highly contested 2018 mid-term elections draw near. One indicator of these elections’ importance is the amount of campaign contributions given to the candidates. According to reports filed with the Florida Division of Elections, the Republican and Democratic candidates for governor have respectively collected an astonishing 13 to 14 million dollars in direct campaign contributions, to date.[1] Even political action committees have increased their spending to unprecedented levels.[2] Indeed, the stakes are high. But what happens before a vote is cast or, more specifically, what influences an individual’s voting decision?[3] In a coordinated effort to garner…
More and more people in America are trying to be their own bosses. As of 2016, the Total Entrepreneurial Activity Report, conducted by Global Entrepreneurship Monitor, recorded that over 25 million Americans are “starting or running a new business.”[1] This report also shows that people are entering entrepreneurships because they are confident in their abilities and believe that there are better opportunities in being their own bosses. [2] As we go through the Information Age, it is only logical that entrepreneurs take advantage of available social media mediums to reach out to consumers and market their services or products. For…
Over the past five years, the market capitalization of virtual currencies has risen rapidly.[1] For example, the price of bitcoin has risen from $135 in April 2013 to $6,468.44 as of October 2018 (with a market cap of $112,173,455,380).[2] The substantial increase in the value of these digital assets (over the last year in particular) has triggered regulatory scrutiny in the United States.[3] Regulators, like the Commodities Futures Trading Commission (“CFTC”), have been working to incorporate virtual currencies under the current regulatory framework.[4] Recently, the CFTC has received its first judicial approval of its efforts. What are Virtual Currencies?…
1. What is Section 36(b)? Mutual funds have long been an important vehicle for individuals to invest their savings in a relatively cost-effective, diversified manner.[1] These investment vehicles are generally organized under state laws and governed by the Investment Company Act of 1940 (“1940 Act”), which lays out rules regarding mutual fund operation and management. Section 36(b) of the 1940 Act provides a cause of action for the SEC, and individual security holders in a registered investment company, to sue investment advisers for excessive payments in breach of fiduciary duty.[2] For a plaintiff to prevail in a § 36(b) excessive…