The U.S. Census reports that minority business ownership exceeds the corresponding racial makeup of U.S. demographics. Based on these figures, the principle of free enterprise seems to be acting on equal grounds. Could entrepreneurship be the social panacea for abolishing racial biases and the inequality gap? This Essay argues that this parity of minority entrepreneurship is misleading. The Kaufman Foundation and Small Business Administration most recently reported that Black-owned firms represent only 7% of all U.S. businesses, Asian-owned firms represent only 4.3%, and Hispanic-owned firms represent only 10.6%. These businesses typically do not grow or expand, leaving the number of people employed by them relatively constant. Overall, minority-owned firms experience more business failure, turnover, and job loss than traditional businesses. This disparity in American free enterprise is, in and of itself, a source of systemic racism and social injustice. Seemingly, American minority entrepreneurs are given a false hope of economic independence. In fact, This Essay illustrates that current legal programs destine many of them for insolvency, bad credit, debt accumulation, or, at best, being rendered small and meaningless in the marketplace without the proper tools and opportunities to increase equity and wealth. The Essay concludes by proposing new legal methods to increase dedicated access to capital, networking, guidance, and education for racially diverse entrepreneurs. Specifically, it proposes relaxing bureaucracy, fixing biases in lending, forming racially inclusive networks, and cultivating the role of lawyers as social agents who can inform minorities about impediments and opportunities to accumulate wealth and economic growth. Such methods may, in turn, reduce systemic inequities caused by racism.
美国人口普查报告显示，少数族裔企业的所有权超过了美国人口中相应的种族构成。根据这些数字，自由企业原则似乎在平等的基础上发挥作用。创业能成为消除种族偏见和不平等差距的社会灵丹妙药吗?本文认为，这种对少数族裔企业家的平等对待具有误导性。考夫曼基金会(Kaufman Foundation)和小企业管理局(Small Business Administration)最近的报告显示，黑人拥有的企业仅占美国所有企业的7%，亚裔拥有的企业仅占4.3%，西班牙裔拥有的企业仅占10.6%。这些企业通常不会增长或扩张，使其雇用的人数相对稳定。总体而言，与传统企业相比，少数族裔拥有的企业经历了更多的业务失败、人员流动和失业。美国自由企业的这种差异，本身就是系统性种族主义和社会不公的根源。看起来，美国少数族裔企业家被给予了经济独立的虚假希望。事实上，本文表明，当前的法律计划注定了其中许多人破产，信用不良，债务积累，或者，在没有适当的工具和机会增加股权和财富的情况下，在市场上变得渺小和毫无意义。文章最后提出了新的法律方法，以增加不同种族的企业家获得资金、网络、指导和教育的专门途径。具体来说，它建议放松官僚主义，修正贷款中的偏见，形成包容种族的网络，并培养律师作为社会代理人的角色，让他们了解积累财富和经济增长的障碍和机会。这些方法可能反过来减少种族主义造成的系统性不平等。
{"title":"The Illusory Promise of Free Enterprise: A Primer for Promoting Racially Diverse Entrepreneurship","authors":"Mirit Eyal-Cohen","doi":"10.2139/ssrn.3732998","DOIUrl":"https://doi.org/10.2139/ssrn.3732998","url":null,"abstract":"The U.S. Census reports that minority business ownership exceeds the corresponding racial makeup of U.S. demographics. Based on these figures, the principle of free enterprise seems to be acting on equal grounds. Could entrepreneurship be the social panacea for abolishing racial biases and the inequality gap? \u0000 \u0000This Essay argues that this parity of minority entrepreneurship is misleading. The Kaufman Foundation and Small Business Administration most recently reported that Black-owned firms represent only 7% of all U.S. businesses, Asian-owned firms represent only 4.3%, and Hispanic-owned firms represent only 10.6%. These businesses typically do not grow or expand, leaving the number of people employed by them relatively constant. Overall, minority-owned firms experience more business failure, turnover, and job loss than traditional businesses. This disparity in American free enterprise is, in and of itself, a source of systemic racism and social injustice. \u0000 \u0000Seemingly, American minority entrepreneurs are given a false hope of economic independence. In fact, This Essay illustrates that current legal programs destine many of them for insolvency, bad credit, debt accumulation, or, at best, being rendered small and meaningless in the marketplace without the proper tools and opportunities to increase equity and wealth. \u0000 \u0000The Essay concludes by proposing new legal methods to increase dedicated access to capital, networking, guidance, and education for racially diverse entrepreneurs. Specifically, it proposes relaxing bureaucracy, fixing biases in lending, forming racially inclusive networks, and cultivating the role of lawyers as social agents who can inform minorities about impediments and opportunities to accumulate wealth and economic growth. Such methods may, in turn, reduce systemic inequities caused by racism.","PeriodicalId":180020,"journal":{"name":"IRPN: Other Innovation & Law & Policy (Topic)","volume":"146 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-11-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126187502","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Uber and other on-demand transportation network companies, such as Lyft and Cabify, have brought significant change in the transportation industry within cities. Calling a taxi was never so simple and easy, while the payment transaction was never so fast and convenient. However, such ride sharing platforms brought significant disruption within the taxi business. Nowadays, ride-sharing platforms operate in the vast majorities of the big cities; in some cities like New York, cars affiliated with on-demand ridesharing platforms have not only outnumbered taxis but also and more importantly have taken away millions of rides from taxi drivers.
Due to the noticeable drop in passengers, the value of taxi licences has drastically reduced. According to anecdotal references, in 2013, a taxi licence in New York was worth as much as $1.3 million, however, nowadays the price has dropped down to as low as $200,000. As a result, such disruption in the taxi business has brought protests from taxi drivers around the world, and has created challenges to policy makers on how to resolve the conflicting interests and resolve the tension. Such challenges are expected to rise with the spread of the autonomous cars in the future.
This chapter aims to examine the utility of sunset clauses in order to resolve this issue. It will use the progressive abolition of roaming changes as a pilot case, which took place with a number of laws subject to sunset clauses, in order to show how such clauses may with temporary regulations to deregulate the taxi industry by creating a predictable business environment for all parties involved.
{"title":"Disruptive Innovation and Sunset Clauses: The Case of Uber and Other on Demand Transportation Networks","authors":"Antonios Kouroutakis","doi":"10.2139/ssrn.3417083","DOIUrl":"https://doi.org/10.2139/ssrn.3417083","url":null,"abstract":"Uber and other on-demand transportation network companies, such as Lyft and Cabify, have brought significant change in the transportation industry within cities. Calling a taxi was never so simple and easy, while the payment transaction was never so fast and convenient. However, such ride sharing platforms brought significant disruption within the taxi business. Nowadays, ride-sharing platforms operate in the vast majorities of the big cities; in some cities like New York, cars affiliated with on-demand ridesharing platforms have not only outnumbered taxis but also and more importantly have taken away millions of rides from taxi drivers. <br><br>Due to the noticeable drop in passengers, the value of taxi licences has drastically reduced. According to anecdotal references, in 2013, a taxi licence in New York was worth as much as $1.3 million, however, nowadays the price has dropped down to as low as $200,000. As a result, such disruption in the taxi business has brought protests from taxi drivers around the world, and has created challenges to policy makers on how to resolve the conflicting interests and resolve the tension. Such challenges are expected to rise with the spread of the autonomous cars in the future. <br><br>This chapter aims to examine the utility of sunset clauses in order to resolve this issue. It will use the progressive abolition of roaming changes as a pilot case, which took place with a number of laws subject to sunset clauses, in order to show how such clauses may with temporary regulations to deregulate the taxi industry by creating a predictable business environment for all parties involved.<br>","PeriodicalId":180020,"journal":{"name":"IRPN: Other Innovation & Law & Policy (Topic)","volume":"16 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132240438","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Law is the only self-regulated profession on earth. It has not changed much since the industrial revolution. It enjoys substantial immunity from outside challengers, particularly in comparison to other professions. This immunity is safeguarded by the enactment of protectionist professional rules and guidelines which govern civility, ethics, and protect lawyers from overthrow. But it appears very likely that law — though shielded by regulations and imbued in tradition — might not be able to withstand the sweeping influence of the digital revolution for long. “Carefully erected protections sheltering the legal profession from disruption is now being eroded”, and the foundation of the monopoly over legal work and the ‘practice of law’ is beginning to crumble. Traditionally and historically, only lawyers can legally engage in the practice of law. But things are beginning to change. In the landmark case of Lola v Skadden, the Court held that “tasks that could otherwise be performed entirely by a machine cannot be said to engage in the practice of law,” meaning that once some task can be entirely performed by a machine, that task can no longer be considered to be ‘the practice of law’ Just as Salomon v Salomon revolutionized corporate law, the decision in Lola v Skadden may soon spark a global trend. Predictions already abound. According to Deloitte, over 100,000 thousand jobs will be automated in the legal sector in the UK alone by 2025, and companies that fail to adopt AI are fated to be left behind. Law is no longer safe from AI. And a single rock from the agile and fluid AI’s sling may knock down the highly regulated, heavily armored, and greatly encumbered legal profession.
法律是世界上唯一自律的职业。自工业革命以来，它没有太大变化。与其他职业相比，它在很大程度上不受外部挑战者的影响。通过制定保护主义的专业规则和指导方针来保障这种豁免，这些规则和指导方针规范了礼貌、道德，并保护律师不被推翻。但很有可能的是，法律——尽管受到监管和传统的保护——可能无法长期承受数字革命的广泛影响。“精心建立的保护法律职业免受破坏的保护措施现在正在受到侵蚀”，对法律工作和“法律实践”的垄断基础开始崩溃。传统上和历史上，只有律师才能合法地从事法律实践。但情况开始发生变化。在具有里程碑意义的洛拉诉世达案(Lola v Skadden)中，最高法院认为，“原本可以完全由机器执行的任务不能被称为从事法律实践”，这意味着，一旦某些任务可以完全由机器执行，该任务就不能再被视为“法律实践”。正如所罗门诉所罗门(Salomon v . Salomon)案彻底改变了公司法一样，洛拉诉世达案的裁决可能很快引发一种全球趋势。预测已经很多了。据德勤(Deloitte)称，到2025年，仅在英国的法律行业，就将有超过10万个工作岗位实现自动化，而未能采用人工智能的公司注定会被甩在后面。法律在人工智能面前不再安全。敏捷而流畅的人工智能投下的一块石头可能会击倒高度监管、全副武装、步履维艰的法律职业。
{"title":"Artificial Intelligence and the Future of Law Practice in Africa","authors":"Ademola Adeyoju","doi":"10.2139/SSRN.3301937","DOIUrl":"https://doi.org/10.2139/SSRN.3301937","url":null,"abstract":"Law is the only self-regulated profession on earth. It has not changed much since the industrial revolution. \u0000 \u0000It enjoys substantial immunity from outside challengers, particularly in comparison to other professions. This immunity is safeguarded by the enactment of protectionist professional rules and guidelines which govern civility, ethics, and protect lawyers from overthrow. But it appears very likely that law — though shielded by regulations and imbued in tradition — might not be able to withstand the sweeping influence of the digital revolution for long. “Carefully erected protections sheltering the legal profession from disruption is now being eroded”, and the foundation of the monopoly over legal work and the ‘practice of law’ is beginning to crumble. \u0000 \u0000Traditionally and historically, only lawyers can legally engage in the practice of law. But things are beginning to change. In the landmark case of Lola v Skadden, the Court held that “tasks that could otherwise be performed entirely by a machine cannot be said to engage in the practice of law,” meaning that once some task can be entirely performed by a machine, that task can no longer be considered to be ‘the practice of law’ \u0000 \u0000Just as Salomon v Salomon revolutionized corporate law, the decision in Lola v Skadden may soon spark a global trend. Predictions already abound. According to Deloitte, over 100,000 thousand jobs will be automated in the legal sector in the UK alone by 2025, and companies that fail to adopt AI are fated to be left behind. Law is no longer safe from AI. And a single rock from the agile and fluid AI’s sling may knock down the highly regulated, heavily armored, and greatly encumbered legal profession.","PeriodicalId":180020,"journal":{"name":"IRPN: Other Innovation & Law & Policy (Topic)","volume":"77 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-12-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130464463","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
While corporations wield tremendous amounts of power that can – in theory – ameliorate some of the global challenges that the world faces today, as things stand, the right incentives are not in place for the stakeholders to transform companies into socially responsible and environmentally conscious entities as a whole. While company law could be put forth as an instrument that incentivizes companies to be more socially aware and attentive to sustainability issues – in reality – relying on company law to change the true nature of companies and how they operate is akin to hammering a nail with a banana. While bananas are nutritious and delicious, they are not practical tools for a wide assortment of tasks. Similarly, although company law can serve a wide variety of purposes, it is not necessarily the instrument to change the incentives of corporate stakeholders to be more socially responsible in its present state.
{"title":"Company Law is Bananas","authors":"K. J. Berg, M. Kawakami","doi":"10.2139/SSRN.3265199","DOIUrl":"https://doi.org/10.2139/SSRN.3265199","url":null,"abstract":"While corporations wield tremendous amounts of power that can – in theory – ameliorate some of the global challenges that the world faces today, as things stand, the right incentives are not in place for the stakeholders to transform companies into socially responsible and environmentally conscious entities as a whole. While company law could be put forth as an instrument that incentivizes companies to be more socially aware and attentive to sustainability issues – in reality – relying on company law to change the true nature of companies and how they operate is akin to hammering a nail with a banana. While bananas are nutritious and delicious, they are not practical tools for a wide assortment of tasks. Similarly, although company law can serve a wide variety of purposes, it is not necessarily the instrument to change the incentives of corporate stakeholders to be more socially responsible in its present state.","PeriodicalId":180020,"journal":{"name":"IRPN: Other Innovation & Law & Policy (Topic)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-09-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134369847","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Is it possible for public and private law doctrines to converge in response to contemporary modes of mixed public-private governance? Such an approach has certain attractions. It side-steps difficult and often circular a priori assessments of whether a transaction or body is sufficiently “public” or “commercial”, and it sometimes provides a space in which the countervailing threats of public corruption and private coercion can be weighed. Three examples of modern convergence are identified in relation to public contracts: the law of public tendering; controls on contractual discretion; and the concept of non-delegable duties in tort law which impacts on contracting out.
{"title":"Convergence in Public and Private Law Doctrines - The Case of Public Contracts","authors":"J. McLean","doi":"10.2139/SSRN.2690935","DOIUrl":"https://doi.org/10.2139/SSRN.2690935","url":null,"abstract":"Is it possible for public and private law doctrines to converge in response to contemporary modes of mixed public-private governance? Such an approach has certain attractions. It side-steps difficult and often circular a priori assessments of whether a transaction or body is sufficiently “public” or “commercial”, and it sometimes provides a space in which the countervailing threats of public corruption and private coercion can be weighed. Three examples of modern convergence are identified in relation to public contracts: the law of public tendering; controls on contractual discretion; and the concept of non-delegable duties in tort law which impacts on contracting out.","PeriodicalId":180020,"journal":{"name":"IRPN: Other Innovation & Law & Policy (Topic)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-11-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131005183","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This essay is written for a Festschrift to commemorate Jurgen Backhaus’s contribution to law and economics in recognition of his long service as Editor of the European Journal of Law and Economics. Scholars of law and economics have long been intrigued by the possibility that legal processes operate to promote economic efficiency. This essay probes the problematical character of the efficiency claim. This appraisal operates by refracting the efficiency claim through Pareto (The Mind and Society: A Treatise on General Sociology, Harcourt Brace, New York, 1935 [1923]) distinction between logical and nonlogical action. What results from this refraction is recognition that economic efficiency is an objectively meaningful concept only inside a model of competitive equilibrium. Outside that model, economic efficiency depends on the perspective of a theorizing subject. Economic efficiency pertains to the form of an argument but not to its substance. Efficiency claims are Paretian derivations and not refutable hypotheses.
这篇文章是为纪念Jurgen Backhaus在法律和经济学方面的贡献而写的，以表彰他长期担任欧洲法律和经济学杂志的编辑。长期以来，法律和经济学学者一直对法律程序促进经济效率的可能性感兴趣。本文探讨了效率主张的问题特征。这种评价是通过帕累托(the Mind and Society: A Treatise on General Sociology, Harcourt Brace, New York, 1935[1923])对逻辑和非逻辑行为的区分来折射效率主张的。这种折射的结果是认识到，经济效率只有在竞争均衡模型中才是一个客观上有意义的概念。在这个模型之外，经济效率取决于理论主体的观点。经济效率与争论的形式有关，而与争论的实质无关。效率主张是父母的推导，而不是可反驳的假设。
{"title":"Economic Efficiency and the Law: Distinguishing Form from Substance","authors":"R. Wagner","doi":"10.2139/ssrn.2686422","DOIUrl":"https://doi.org/10.2139/ssrn.2686422","url":null,"abstract":"This essay is written for a Festschrift to commemorate Jurgen Backhaus’s contribution to law and economics in recognition of his long service as Editor of the European Journal of Law and Economics. Scholars of law and economics have long been intrigued by the possibility that legal processes operate to promote economic efficiency. This essay probes the problematical character of the efficiency claim. This appraisal operates by refracting the efficiency claim through Pareto (The Mind and Society: A Treatise on General Sociology, Harcourt Brace, New York, 1935 [1923]) distinction between logical and nonlogical action. What results from this refraction is recognition that economic efficiency is an objectively meaningful concept only inside a model of competitive equilibrium. Outside that model, economic efficiency depends on the perspective of a theorizing subject. Economic efficiency pertains to the form of an argument but not to its substance. Efficiency claims are Paretian derivations and not refutable hypotheses.","PeriodicalId":180020,"journal":{"name":"IRPN: Other Innovation & Law & Policy (Topic)","volume":"47 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-11-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124874356","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2015-09-29DOI: 10.15308/SITCON-2015-164-167
Vule Mizdraković, G. Knežević, Nenad Stanić
The purpose of this paper is to determine the indebtedness level of hotels operating in the Republic of Serbia during the period from 2008-2012. It is presumed that the weakened worldwide economy resulted in the decrease of general business solvency and increase of bankruptcy probability in all industries. Service providers have certainly not been left out, and hotels have been in the focus of this paper. We have collected available financial statements of hotels operating in the Republic of Serbia for the period from 2008-2012. We have calculated several bankruptcy prediction models including: Altman’s Z’ and Z’’-score, M-score, Kralicek’s df score and Z-score for hospitality industry. The results show that the average implicated bankruptcy probability increased in 2010 and 2011, and reached its peak value in 2011. When comparing 2008 and 2011, the average Altman’s scores recorded decrease of approximately 70% and other scores confirm the same results. Therefore, it can be concluded that hotel industry in Serbia recorded the weakest results and has been insolvent and had the greatest risk of going bankrupt in 2010, and especially in 2011.
本文的目的是确定2008-2012年期间在塞尔维亚共和国经营的酒店的负债水平。假设全球经济疲软导致企业整体偿债能力下降，各行业破产概率增加。服务提供商当然也没有被遗漏，酒店一直是本文关注的焦点。我们收集了2008-2012年在塞尔维亚共和国经营的酒店的财务报表。我们计算了几种破产预测模型，包括:Altman的Z ' and Z ' -score、M-score、Kralicek的df score和Z-score。结果表明，平均牵连破产概率在2010年和2011年有所上升，并在2011年达到峰值。2008年和2011年相比，Altman的平均分数下降了大约70%，其他分数也证实了同样的结果。因此，可以得出结论，2010年，特别是2011年，塞尔维亚的酒店业记录了最弱的结果，已经资不抵债，破产风险最大。
{"title":"Bankruptcy Risk Exposure of Serbian Hotels in the Period 2008-2012","authors":"Vule Mizdraković, G. Knežević, Nenad Stanić","doi":"10.15308/SITCON-2015-164-167","DOIUrl":"https://doi.org/10.15308/SITCON-2015-164-167","url":null,"abstract":"The purpose of this paper is to determine the indebtedness level of hotels operating in the Republic of Serbia during the period from 2008-2012. It is presumed that the weakened worldwide economy resulted in the decrease of general business solvency and increase of bankruptcy probability in all industries. Service providers have certainly not been left out, and hotels have been in the focus of this paper. We have collected available financial statements of hotels operating in the Republic of Serbia for the period from 2008-2012. We have calculated several bankruptcy prediction models including: Altman’s Z’ and Z’’-score, M-score, Kralicek’s df score and Z-score for hospitality industry. The results show that the average implicated bankruptcy probability increased in 2010 and 2011, and reached its peak value in 2011. When comparing 2008 and 2011, the average Altman’s scores recorded decrease of approximately 70% and other scores confirm the same results. Therefore, it can be concluded that hotel industry in Serbia recorded the weakest results and has been insolvent and had the greatest risk of going bankrupt in 2010, and especially in 2011.","PeriodicalId":180020,"journal":{"name":"IRPN: Other Innovation & Law & Policy (Topic)","volume":"24 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-09-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124818760","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
It is a permanent question whether the traditional copyright law should recognize novelties and research activities and protect them as individual rights along with organizational achievements as intellectual property. As suggested by some scholars, conventional wisdom holds that patents contribute to progress. However, both current IPR systems including powerful ones such as USA’s, and international agreements overlooked two constitutionally recognized rights. The first is the huge bulk of research and production efforts by human resources and their creative ideas behind these, and the second is the common idea of consumers’ welfare around the world. As a result, one unsettled point is how personal works and achievements, practically produced within organizational research programs or by individual innovations can be legitimate sources of only exclusive rights of those organizations. We pose the question whether personal research and working innovations a person makes, while he is bond with organizational obligations should be organization’s assets or are they under his personal patent rights? Patents normally protect research products in scientific areas entailing huge investments such as HIV drugs, agricultural products, pharmaceutics and informational items as they are intellectual property that belong to corresponding operating bodies. Organizations today depend heavily on personal innovations of their human resources to develop new products and technologies. We, referring to some IP research and legal models, suggest that the ideas and innovative thoughts behind these copy righted products are subsidiary in relation to human resources. Conventional IP law has not yet come to the stand that local and global policies should take into account a kind of differentiation between these two factors as organizational assets.
{"title":"Organizational Innovations: The Intersection of Constitutional Rights and Economics of Intellectual Property Law","authors":"S. R. Eftekhari","doi":"10.2139/ssrn.2623721","DOIUrl":"https://doi.org/10.2139/ssrn.2623721","url":null,"abstract":"It is a permanent question whether the traditional copyright law should recognize novelties and research activities and protect them as individual rights along with organizational achievements as intellectual property. As suggested by some scholars, conventional wisdom holds that patents contribute to progress. However, both current IPR systems including powerful ones such as USA’s, and international agreements overlooked two constitutionally recognized rights. The first is the huge bulk of research and production efforts by human resources and their creative ideas behind these, and the second is the common idea of consumers’ welfare around the world. As a result, one unsettled point is how personal works and achievements, practically produced within organizational research programs or by individual innovations can be legitimate sources of only exclusive rights of those organizations. We pose the question whether personal research and working innovations a person makes, while he is bond with organizational obligations should be organization’s assets or are they under his personal patent rights? Patents normally protect research products in scientific areas entailing huge investments such as HIV drugs, agricultural products, pharmaceutics and informational items as they are intellectual property that belong to corresponding operating bodies. Organizations today depend heavily on personal innovations of their human resources to develop new products and technologies. We, referring to some IP research and legal models, suggest that the ideas and innovative thoughts behind these copy righted products are subsidiary in relation to human resources. Conventional IP law has not yet come to the stand that local and global policies should take into account a kind of differentiation between these two factors as organizational assets.","PeriodicalId":180020,"journal":{"name":"IRPN: Other Innovation & Law & Policy (Topic)","volume":"100 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-06-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133423187","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
$1.6 billion criminal proceedings are transferred yearly into the legal system by money laundering (UNODC 2011). Only about 0.2% are identified and confiscated. The manifold negative consequences of money laundering are devastating and threaten the functionality of capital markets (Unger 2007). An important aspect of money laundering is that it is a necessity for organized crime. Without money laundering most crime would not pay. This paper analyses why the relatively new market of online gambling provides different opportunities to launder money cheaply and its consequences.
{"title":"Online Gambling as a Game Changer to Money Laundering?","authors":"Ingo Fiedler","doi":"10.2139/ssrn.2261266","DOIUrl":"https://doi.org/10.2139/ssrn.2261266","url":null,"abstract":"$1.6 billion criminal proceedings are transferred yearly into the legal system by money laundering (UNODC 2011). Only about 0.2% are identified and confiscated. The manifold negative consequences of money laundering are devastating and threaten the functionality of capital markets (Unger 2007). An important aspect of money laundering is that it is a necessity for organized crime. Without money laundering most crime would not pay. This paper analyses why the relatively new market of online gambling provides different opportunities to launder money cheaply and its consequences.","PeriodicalId":180020,"journal":{"name":"IRPN: Other Innovation & Law & Policy (Topic)","volume":"21 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-04-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133504895","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
We use data from a professionally-conducted survey of high-technology managers to examine international variation in private equity contracting and cost of capital. Employing new variables and analyzing hundreds of financing rounds in the U.S., Europe, and Israel, we find that investor sophistication is associated with the ownership ratio (amount raised/valuation), but that funding rounds in common law countries do not receive lower ownership ratios vis-a-vis those in civil law countries. We also find that the institutional environment matters for exit strategy and valuation.
{"title":"Law, Finance, and Venture Capital: The Cost of Capital for High-Tech Firms","authors":"T. Hall","doi":"10.2139/ssrn.1071644","DOIUrl":"https://doi.org/10.2139/ssrn.1071644","url":null,"abstract":"We use data from a professionally-conducted survey of high-technology managers to examine international variation in private equity contracting and cost of capital. Employing new variables and analyzing hundreds of financing rounds in the U.S., Europe, and Israel, we find that investor sophistication is associated with the ownership ratio (amount raised/valuation), but that funding rounds in common law countries do not receive lower ownership ratios vis-a-vis those in civil law countries. We also find that the institutional environment matters for exit strategy and valuation.","PeriodicalId":180020,"journal":{"name":"IRPN: Other Innovation & Law & Policy (Topic)","volume":"109 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2006-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131425540","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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