Month: November 2007

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The Format Wars

I. The Phantom Menace for Consumers

High Definition Television (HDTV) was first demonstrated to the public in 1969 and
made commercially available in the mid-1990s.[1] However, upon being made commercially
available, HDTV created a problem for consumers who wished to record
and watch movies. In 1998, more than 90% of households in the United
States had a videocassette recorder (VCR).[2] At the time, most of those VCRs recorded in an analog format, rather than in a digital format.[3] Analog media formats have lower image and sound qualities than digital media formats.[4]
While consumers would be able to watch
videocassettes on their HDTVs, they would not be utilizing the high
definition technology to its fullest. A digital media format needed to
come into the marketplace that could cheaply and effectively record and
play high definition programming. However, instead of one format
establishing itself, two formats have fought to become the next… Read the rest

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Following the LEEDer: What Attorneys Should Know About Green Building

Green building is gaining momentum as a construction trend with widespread benefits, from environmental efficiency and resource conservation to human health and lifestyle improvement.  Several government entities have reacted to the green building movement, creating national and local standards and monetary incentives for developers to create green buildings.  In representing developers and others associated with green building, attorneys should consider how to contractually plan for risks that may not otherwise arise in ordinary development projects.

I. What is “Green Building”?

Green buildings are “designed, built, operated, renovated, and disposed of using ecological principles for the purpose of promoting occupant health and resource efficiency plus minimizing the impacts of the built environment on the natural environment.”[1]  The costs of green building as compared to ordinary construction are debatable.  One 2001 study found that green buildings cost “ten to fifteen percent more” than conventional buildings.[2]  To the contrary, a 2003 study found

… Read the rest
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Homeowners’ Associations & Their Limitations on Free Speech

I. Introduction

Free speech is a right guaranteed by the First Amendment, but is it possible to give up this right if you move into a neighborhood governed by a homeowners’ association? The New Jersey Supreme Court had to decide this issue when a group of residents subject to the rules of their homeowners’ association were restricted from posting signs on their lawns or the common areas of the community. [1] Although the ruling is limited to application in New Jersey, homeowners’ associations everywhere were watching the case closely to see whether it would have an impact on how their state dealt with such constitutional challenges to their rules and regulations. [2] This article will explore the outcome of the New Jersey case as well as its implications on homeowners’ associations elsewhere.

II. The New Jersey Supreme Court Ruling

In New Jersey, the Twin Rivers Homeowners’ Association was sued over

… Read the rest
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Google’s Book Search Library Project Faces Copyright Challenges

I. Introduction

Google’s stated mission is “to organize the world’s information and make it universally accessible and useful.”  [1]  As part of that mission, the Google Book Search Library Project is scanning and organizing printed books from dozens of libraries. By digitizing these books and making them available online, the Google Book Project will potentially benefit academic research around the world by increasing accessibility to rare and remote volumes. Google plans to make its entire digital library searchable as part of its primary search engine, reaping profits from its current advertisement structure. However, the Project has drawn opposition from some publishers, librarians and academics for a variety of reasons, including threats to copyright, scan quality and search biases.

II. Background

In late 2004, Google announced an extension of its Google Print program, which assisted publishers in “making books and other offline information searchable online."  [2]  Through its Print program, Google

… Read the rest
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Sonic Boom or Bust: Franchise Relocation in the NBA

I.  Introduction

The
emergence of today’s state-of-the-art basketball arena has National
Basketball Association (“NBA”) team owners holding cities hostage. Team
owners seek public funding for these stadiums, and if the city refuses
to provide the funding, there are always smaller markets without
professional franchises willing to pony up. [1] The most recent example involves the Seattle Supersonics. The Sonics have called Seattle home for forty years. [2] Their
future in the Emerald City appears bleak as the current owner, Oklahoma
City businessman Clay Bennett, plans to relocate the team to Oklahoma
City unless a deal to construct a new arena is agreed upon. [3] The City of Seattle, reluctant to provide funding for a new arena, has sought to keep Bennett from relocating. [4]

II. Legal Issue

The Sonics are currently under a commercial lease with Key Arena through the 2009-2010 season. [5] Rather
than stay through the lease, Bennett is attempting … Read the rest

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IPO of China Construction Bank

 The Initial Public Offering (“IPO”) of Industrial and Commercial Bank of China (“ICBC”) set the record for the amount of money raised among all IPOs ever made over the world. The IPO of ICBC was actually one of the steps the Chinese government had taken to privatize (or at least partially privatize) its four major commercial banks: ICBC, China Construction Bank (“CCB”), Bank of China (“BoC”) and Agriculture Bank of China. CCB and BoC already performed IPOs during the last two years and the IPO of Agricultural Bank of China (“ABC”) is scheduled at 2008. ICBC, established in 1984 when China began its capitalist turn, boasted $724 billion in deposits, 355,000 employees and 18,038 branches, more than three times as many as Bank of America, the USA's largest bank.” In this article, we focus on the listing choices of CCB, … Read the rest

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Financing Space Assets and Private Business Entities – Part II

III. Debtor’s Rights and Related Rights

A. Background  

     Since space assets require huge amount of money, the space industry takes a great effort to get finance for manufacturing and maintaining them. Large scale entities use their own surplus and other smaller ones tend to form a consortium to get finance.[1]  If they don’t get enough finance, they will cooperate with private-sector investors like investment banks but private-sector investors want to have a security agreement on the specific space asset or the future cash-flow from operating the asset or equipment to make sure to collect money.[2]  Most satellite manufacturers such as Boeing Satellite Systems, Motorola, and Mitsubishi Electronic actively participate in the project financing with major investment and commercial banks such as Morgan Stanley Senior Funding, Inc, UBS Investment Bank, Citibank, Deutsche Bank, and Goldman, Sachs & Co.[3] 

     However, it is hard to determine which jurisdiction or law is … Read the rest

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The Art of Registering a Business: Picking the Right Method of Registration for Your New Business

I. Introduction

Starting a new business can be a scary venture for a new
entrepreneur. Beyond picking a location, hiring personnel and
establishing a clientele base, deciding how to register the business
can be an important decision with lasting implications. There are five
main categories under which a new business owner can register his or
her new business: sole proprietorship, general partnership, limited
liability partnership, limited liability company or corporation. This
article discusses the pros and cons of registering under each of the
five categories and the legal implications of each option.

II. Sole Proprietorship: Description, Liability, Tax Benefits

A sole proprietorship is the most common type of business
organization. [1] In a sole proprietorship, one person owns and manages
the business and there is no separation between the business entity and
the individual, meaning for tax purposes the individual must file only
one individual tax return. [2] The advantages … Read the rest

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Instant Messages: An E-Discovery Nightmare?

I.  Introduction

          Instant Messages (IMs) have become an increasingly popular method of communication, both in the personal and business world. [1] They have the benefit of being an efficient, rapid and oftentimes free means of communication. [2] IMs are often candid and free-form, and when users close their IM dialogue box when the conversation ends, the chat session generally disappears and is not recorded. [3]  However, with the advent of the e-discovery amendments to the Federal Rules of Civil Procedure (FRCP), many electronically stored documents have become subject to discovery in litigation. [4] While Word documents, Excel spreadsheets and e-mails are accepted as discoverable documents for litigation purposes, it is unclear whether IMs can and should be requested during the discovery process. [5] This article will explore issues related to the discoverability of instant messages and will ultimately suggest that businesses employ techniques to closely monitor

… Read the rest
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Three Banks and Their SIV “Superfund” Baby

Introduction

    Over the weekend of October 13, 2007, the U.S. Treasury hosted talks with some of the largest U.S. banks with the aim of creating a "superfund" that would be used to provide stability to the shaky credit markets.[1] The meeting included some of the biggest banking institutions such as Citigroup, Bank of America, and J.P. Morgan Chase.[2] This summer brought turmoil in the credit markets as the subprime mortgage fiasco began to bear fruit, and the goal of the proposed superfund is to hedge off fears of future bank defaults as well as invigorate demand for commercial paper, which has since this summer frozen up.[3] This article will review the details of the proposed superfund, its aims, and address some criticism leveled at it as well as the government's role in the process.

Details

      As expected on October 15, 2007, the triumvirate of aforesaid banks … Read the rest