Slot Constraints and Babysitting: Limiting Competition at America’s Busiest Airports

In response to Ryan Strong’s post to CBLR Online on October 8, I want to examine another way that the large airlines are potentially limiting competition and increasing consumer cost – strategically using slots at slot-constrained airports to limit competition in four of the most congested airports in the United States. There are four slot-constrained airports in this country – the three airports that service the New York City area (JFK, Newark, and LaGuardia) and Reagan National Airport (DCA) in […] (More →)

SEC Rule Change Targets Corporate Inversion

On October 27, 2015, the U.S. Securities and Exchange Commission issued an update to Exchange Act Rule 14-4(a)(3). This rule change will significantly impact corporate decision-making as it relates to the process of inversion. Inversion is the process by which an American company acquires or merges with a foreign company and reincorporates in the foreign company’s country, where the corporate tax rate is generally lower than in the United States. Many U.S. corporations adopt the strategy of inversion because, in […] (More →)

Fast Fashion and the Designs That Could Have Been

The biannual New York Fashion Week is a time for designers to display their latest concepts and interpretations, for buyers to take a gamble on what consumers want, and for the fashionistas of the world to “ooh” and “ah.” But this celebration of artistry and ingenuity is also a time when fast fashion retailers can copy designs and sell lower quality products at rock-bottom prices. Though there are arguments that fast fashion can actually help the industry innovate, it may […] (More →)

Smart Contracts and Consumer Protection

Smart contracts provide for the possibility of dramatic efficiency gains across the economy. However, many of the features that make smart contracts attractive pose heightened risks for consumers. This post describes smart contracts and their potential advantages, analyzes the risks for certain consumer groups, and advocates for minimally intrusive government regulation. Smart Contracts Nick Szabo is credited with inventing the concept of a “smart contract” sometime in the early 1990s. His article describes what smart contracts could accomplish and how.  […] (More →)

FDA Priority Vouchers Now Sold for Hundreds of Millions of Dollars

Since 2007, the Food and Drug Administration (FDA) has issued a total of eight “priority review vouchers”—vouchers that shorten the FDA drug approval decision deadline from ten months to six months.  Under the FDA Amendment Act of 2007 and the FDA Safety and Innovation Act of 2012, the FDA is required to issue priority review vouchers to sponsors of drugs addressing certain pediatric conditions or tropical diseases, such as tuberculosis.  Significantly, these vouchers can be used for expedite the decision […] (More →)

The Antitrust Paradox in Amateur Athletics

The issue over whether the NCAA’s restrictive student-athlete polices—designed to promote “amateur” athletic competition—unlawfully restrains trade in violation of prevailing antitrust law received a new twist last month when the Ninth Circuit released its opinion in O’Bannon v. NCAA. The Ninth Circuit’s decision in O’Bannon, penned by Judge Jay Bybee, was a mixed bag for the NCAA. On the one hand, the panel declined to affirm the district court’s finding that the NCAA could properly compensate student-athletes $5,000 per year […] (More →)

Daily Fantasy Sports: Calls for Regulation of an Emerging Multi-Billion Dollar Industry

What are Daily Fantasy Sports? Within the past decade, there has been an explosion in the popularity of daily fantasy sports (DFS) websites, most prominently and These websites allow individuals to enter daily contests involving the selection of real-life professional athletes, whose performance determines whether the individual will win the contest or not. More specifically, as BusinessInsider reports, “[i]n fantasy sports, users put together their own teams using real-life players. The outcome of the game is determined by […] (More →)

Amid flurry of controversy, what’s next for the Daily Fantasy Sports industry?

Last Thursday, the Nevada Gaming Control Board ruled that the daily fantasy sports (“DFS”) industry was akin to gambling, thereby requiring the now wildly popular websites to obtain a license should they wish to continue operating within the state. Immediately following the Board’s decision, the Nevada Attorney General released a statement providing legal justification for the classification, and the two largest daily fantasy sports sites—DraftKings and FanDuel—announced that they were, at least temporarily, terminating service in the Nevada market. While […] (More →)

Bloggers Beware: The Ideological Implications of the FTC’s Native Advertising Regulations for Bloggers

They say that the best marketing tool is word of mouth. Despite the allure of clever product placement, viral videos, and creative billboard designs, the best advertisements are still personal. We tend to trust the opinions and experiences of our friends, family, neighbors, and acquaintances. A Nielson study shows that 92 percent of consumers worldwide trust “earned media” (i.e., recommendations from friends and family and word of mouth) over “paid media” (i.e., traditional advertisements). In this digital age, word of […] (More →)

Anti-Kickback Statute Remedies: Short-Term Gain for Long-Term Pain?

The United States brought a suit against Novartis Pharmaceuticals Corporation (“Novartis”) under the False Claims Act claiming that Novartis orchestrated a kickback scheme which caused the government to pay out tens of millions in improper Medicare and Medicaid reimbursements. The government claimed that Novartis paid kickbacks, disguised as performance rebates or discounts, to pharmacies that switched patients from competitors and generics to the Novartis drug Myfortic. The Anti-Kickback Statute, 42 U.S.C. §1320a-7b(b), prohibits offering, paying, soliciting, or receiving remuneration to […] (More →)

About CBLR

Columbia Business Law Review is the first legal periodical at a national law school to be devoted solely to the publication of articles focusing on the interaction of the legal profession and the business community. The review publishes three issues yearly, which involve students in the editing of leading articles in business law, as well as the production of student-written notes.