Microcredit – Part 1

Introduction  

The Nobel Peace Prize for 2006 was awarded to Muhammad Yunus and the Grameen bank for the expansion of microcredit. [1] As the Nobel committee said, “lasting peace cannot be achieved unless large population groups find ways in which to break out of poverty.” [2] Micro-credit is a way in which development can be stimulated in a matter that also serves to advance democracy and human rights. [3] 

 

Microcredit is a topic that has been fairly underexplored in regards to business law. In this multipart essay, I will first introduce the foundations and workings of microcredit. Then, I will explore how microcredit can be applied to the poor in present day society in the United States and the barriers that stand in its way. A big constraint to the expansion of microcredit programs is the absence of a legal framework. However, before a comprehensive legal framework Read the rest

Eyes Wide Open: Expanding Views on the Alien Tort Claims Act

Introduction 

The Alien Tort Claim Act (ATCA) has been a source of controversy over the past years. Originally, it was used as a way to govern relations between nations, but now it is being utilized by human rights activists in order to hold corporations responsible for acts performed by their subsidiaries which infringe upon the rights of people in foreign nations in which the company resides. [1] The Act reads: “The district courts shall have original jurisdiction of any civil action by an alien for a tort only, committed in violation of the law of nations or a treaty of the United States.” [2] 

This article will discuss the history of corporate liability under the ATCA. It will then follow by spotlighting a case that almost set precedent in terms of corporate liability under the ATCA. It will conclude with a discussion of the effects of utilizing the Read the rest

I’m All In: The Online Poker Industry

Introduction

Since the first online hand was dealt on January 1st, 1998, the online poker business has exploded in popularity. [1]  “Research from Christiansen Capital Advisors says online poker revenues have grown from $82.7 million in 2001 to $2.4 billion in 2005.”[2]  Poker Stars, Full Tilt Poker, and Titan Poker represent the three largest poker sites, and alone these three sites serve more than fifty thousand cash players a month.[3]  In the past three months, the numbers of cash players on these three poker sites has increased 6-10%. [4]  On these, and on the hundreds of other poker sites, U.S. players generate an estimated $85 million in revenues monthly for these sites. [5]  From 2004 to 2007, the online poker industry recorded a 72% growth rate.[6]

 

Why Is Online Poker Becoming So Popular?

The success of the online poker industry can be attributed to a Read the rest

Level the Playing Field: Consider State Taxes when Developing Salary Caps in the Major Sports

Level the Playing Field: Consider State Taxes when Developing Salary Caps in the Major Sports

I.                   Introduction

States and cities tax professional athletes in multiple ways.  A traditional method, which applies to athletes and non-athletes alike, is income taxation by the state in which an individual resides.  A second method, utilized by twenty states, is to tax athletes when they participate in games other than in the state they reside.  [1]  This second method is commonly referred to as the “jock tax.”  Since the inception of the jock tax, inequality from state to state has been a prevalent issue.  The combination of the jock tax and differences between how states tax its residents may make some cities in the United States and in Canada more attractive than others.   “Although a player may have contract offers from different teams for the same Read the rest

Why Lawyers Should Know More About Antitrust Regulations

I.                    Introduction     

     Antitrust law is usually understood as applying to companies and their products. The incentives for assuring competition among companies have not limited the function of antitrust law. Antitrust law has developed its application to beyond those players in the market. Now, lawyers and bar associations also have to watch out for antitrust regulation. The American Bar Association has been under pressure to lighten up several of its rules in order to allow multidisciplinary firms to evolve.[1]      

     The application of antitrust law to lawyers will be discussed in this article. Part I discusses if the definition of “trade” applies to professional services for the purpose of antitrust regulation. Is the discussion of regulation related to horizontal agreements or legislation? If it is legislation (for example, laws establishing bar associations), it is out of the scope of antitrust law. Read the rest

Jurisdictional Competition in a Developing Economy: Law and Policy Issues of the Offshore Structure Use in Russia

I. Introduction

Someone might view the economic crisis times as the best period to broaden one’s business horizons and invest into a new market. The fast growing markets such as China, Brazil, India and to some extent Russia are waiting for new investors. Russia, having more than 140 million inhabitants, i.e. potential consumers, and abundant natural resources remains mostly neglected by investors in many business fields. For decades Russian market was viewed as not a place for those faint-of-heart. Now the growth of political stability and positive developments in legislation make the investment less risky and more attractive. Nevertheless, the still existing differences between local and internationally recognized legislative frameworks and court practices make investors wonder if there is any possibility to opt out of the Russian legal rules.

This article will explore the reasons behind Russian corporate norms that explain the inflexibility of current legislation and court practice and Read the rest

Be Careful, They’re Unpaid Interns: Is the NCAA and its Member Schools Unfairly Profiting From the Likenesses of Its Athletes?

 

I.                   Introduction

We hear the debate all the time.  Some sports writer will call for college athletes to be paid.[1]  Another will rebut that they are given hundreds of thousands of dollars in college tuition, books and housing.[2]  This debate is surely to drag out as long as there are intercollegiate sports, no matter what the rule on the NCAA’s books is either way.  As it stands, the NCAA and its member schools profits by selling the publicity rights of its athletes to video gaming companies, as well as market their likenesses themselves even long after the player has graduated or moved on from intercollegiate sports.  This article focuses on the recent athlete initiated cases regarding this problem, as well as a potential solution.

II.                The Issue of the Use of Player Likenesses and Publicity is Finally Being Brought to Read the rest

Astroturf Lobbying Organizations: Do Fake Grassroots Need Real Regulation

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I. Introduction

Mail carts are pushed down the
halls of Congress passing offices with televisions showing images of protestors
at a rally.  Phones in those
congressional offices ring steadily from calls of individuals voicing their
opinions over the issue du jour.  But are
the authors of the letters, the protestors on the televisions or the people on
the other end of the telephone conversations concerned citizens or are they paid
by an Astroturf organization – pawns of big business trying to pull the covers
over the eyes of Congress?

An Astroturf organization is a
“group that lends a veneer of moral legitimacy to a cause” which “allows a
group to present its position as … Read the rest

Implications of the Genetic Information Nondiscrimination Act (GINA) on Professional Sports

I.                   Introduction 

The sports business industry is one of the largest and fastest growing industries in the United States. In fact, the Sports Business Journal estimates the size of the sports business industry to be $213 billion in the United States alone. [1] Furthermore, sports business law is a dynamic field of law with new issues arising on an almost daily basis due to courts decisions, new legislation, and regulation. [2] One piece of new legislation, the Genetic Information Nondiscrimination Act (GINA), [3] will have a profound impact on employment decisions in professional sports. This article discusses the implications of GINA on professional sports: specifically, part II of the articles discusses GINA in detail, part III discusses GINA’s impact on professional sports, part IV discusses GINA’s economic impact on professional sports, and part V provides some concluding remarks.

II.                The Genetic Information Nondiscrimination Act (GINA) 

The Genetic Information Nondiscrimination … Read the rest

Deficient in Deficiencies: The Potential Effects of the Refusal to Uphold Full-Recourse, Residential Real Estate Loans

I. Introduction

Foreclosures have taken on a new significance in the last few years as a result of the financial crisis. This has the led the finer points of the foreclosure proceedings to become extremely important for many lenders, and for many borrowers in default. One potentially important practice is the oft-rumored, but rarely documented routine of certain judges to simply refuse to grant any deficiency judgments in personal foreclosures. Cases have been brought before higher courts across the country, leading to judges being rebuked for ill-advised activism in refusing to properly entertain requests for deficiency judgments. [1] In light of the record number of foreclosures taking place in the last two years [2], a lack of deficiency judgments may prove to have a significant effect on banks and may lead to a change in the practices of many banks. The purpose of this article is to question what effects Read the rest