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Disruptive Legal Technologies: Benefit Corporations and the Crowdfunding of Firms

Two recent developments in the law and practice of business include:  (1) the advent of benefit corporations (and kindred organizational forms) and (2) the application of crowdfunding practices to capital-raising for start-ups.  My thesis here is that these two innovations will become disruptive legal technologies.  In other words, benefit corporations and capital crowdfunding will changeRead More

New Directions in Corporate Disclosure: Politics, Environment, and Religion

Corporate disclosure, especially in securities regulation, has been a standard regulatory strategy since the New Deal. Brandeisian “sunlight” has been endorsed widely as a cure for nefarious inside dealings. An impressive apparatus of regulatory disclosure has emerged, including annual and quarterly reports enshrined in Forms 10K and 10Q. Other less comprehensive disclosures are also required:Read More

New U.S.-China Climate Contract: A Step Forward!

The surprise announcement of an agreement today between President Obama and President Xi on climate change provides welcome news.  Although not yet formalized (and devils always lie in the details), the executive agreement commits the United States to a 26 to 28 percent reduction of greenhouse gas emissions by 2025 (from a 2005 base), doublingRead More

Smart and Dumb Views on Climate Change: Esty and Harsanyi

Daniel Esty has published a smart and persuasive argument for a “bottom-up” approach to climate change in The New York Times here.  As Esty argues, we cannot rely on governments alone to solve the climate change problem.  Corporate and business interests are stepping up with responsive approaches to reducing greenhouse emissions and taking other climate-friendlyRead More

Disruptive Legal Technologies: Benefit Corporations and the Crowdfunding of Firms

Two recent developments in the law and practice of business include:  (1) the advent of benefit corporations (and kindred organizational forms) and (2) the application of crowdfunding practices to capital-raising for start-ups.  My thesis here is that these two innovations will become disruptive legal technologies.  In other words, benefit corporations and capital crowdfunding will changeRead More

New Directions in Corporate Disclosure: Politics, Environment, and Religion

Corporate disclosure, especially in securities regulation, has been a standard regulatory strategy since the New Deal. Brandeisian “sunlight” has been endorsed widely as a cure for nefarious inside dealings. An impressive apparatus of regulatory disclosure has emerged, including annual and quarterly reports enshrined in Forms 10K and 10Q. Other less comprehensive disclosures are also required:Read More