Overview of the new Korean Anti-Corruption Statute, the Kim Young-ran Act, and Comparison with U.S. Anti-Bribery Laws

It is a long rooted practice to take a client or contact to lunch or dinner. In many countries, it is an accepted form of business dealing. However, in South Korea, as of September 28, 2016, if the party involved in the wine and dine is a public official, civil servant, state-run company employees, journalist or educator, it is illegal to take them out to a meal that costs more than 30,000 KRW (less than 27 USD per person). The […] (More →)

South Korea’s new anti-corruption law, Kim Young-ran Act, will have a significant impact on Korean economy

On March 3, 2015, South Korea’s legislature passed a new anti-corruption law, the Kim Young-ran Act. The Act was proposed by Kim Young-ran, the formal Supreme Court justice and the head of the Anticorruption and Civil Rights Commission in Korea. Under the new law, civil servants who accepts more than one million won, which is approximately 900 dollars, are subject to punishment. It “…forbids people from buying a meal worth more than 30,000 Korean won ($27)…It also limits gifts to […] (More →)

A New Test for Insider Trading? Tippee Liability Reconsidered in Salman v. United States

On October 5th, the Supreme Court heard oral arguments on Salman v. United States, 792 F.3d 1087 (9th Cir. 2015), cert. granted, 136 S. Ct. 899 (2016), the first insider trading case the Court has considered in nearly twenty years.  Salman concerns the circumstances under which tipping and trading on inside stock tips will constitute violations of federal securities laws.  Specifically, the Court is expected to clarify what sort of “personal benefit” a tipper of confidential information must receive for […] (More →)

Understanding the DOD’s New Approach to Combating Cyber Threats: the DIB

In July 2015, the Office of Personnel Services (OPM), an independent government agency, made a shocking announcement that their personnel databases had been compromised, and that hackers had gained access to over twenty-one million personnel files of “current, former and prospective government employees.” Commentators have linked the OPM data breaches to a previous cyber attack against a government contractor known as KeyPoint Government Solutions, which gave the OPM hackers credentials to access the OPM servers. Post 9-11, the U.S. government […] (More →)

For Whose Profit? How Recent For-Profit College Closures Signal the Need for Regulatory Change

“If our economy is to become more competitive, our middle class to thrive and grow and our democracy to become even more inclusive and vibrant, our nation has no higher priorities than expanding access to our institutions of higher education and enhancing their quality. That is why we must continue to improve the oversight of our colleges and universities and to spur their improvement.” – Testimony by Sylvia Manning President, Higher Learning Commission, North Central Association of Colleges and Schools […] (More →)

High-Altitude Rulemaking: Clearing New Transportation Technologies for Takeoff

Transformative transportation technologies have produced step changes in human development by shortening once unpassable distances and connecting markets, nations, and cultures. The invention of the axled wheel was one such change. The domestication of the horse transformed warfare and transportation, and the domesticated camel enabled trade routes to flourish across the Middle East. The Grand Canal stitched together disparate regions of China for hundreds of years, and the lateen sail enabled once-isolated societies to explore the world beyond their shores. […] (More →)

Breaking Up the Wolf Pack: How SEC Review of Disclosure Requirements Might Impact Hedge Fund Behavior

There is no question that the Securities and Commission (“SEC”) will soon make changes to the decades-old disclosure requirements of the Williams Act. The question is what are those changes most likely to be, and how will they affect some of the biggest players in our economy? This past August, the SEC issued a request for public comment on disclosure requirements relating to management, security holders and corporate governance matters under Subpart 400 of Regulation S-K. This request is part […] (More →)

Charity’s Unique Role

Charity’s Unique Role in America The role of charity in American society is unique: Americans pay less in taxes as a percentage of GDP than virtually every developed country, but contribute more to charity per capita than any other country. Porter, 2012. 90(2): A Prudential Kick Within this American tradition of charitable giving, the 1979 Restatement (Second) of Contracts attempted to address historical unenforceability of charitable subscriptions head on. The (Second) Restatement removed the requirements of consideration and detrimental reliance for […] (More →)

How can Airbnb combat discrimination on the platform?

Airbnb is a short-term rental website that allows users to list and rent their residential or studio spaces for a fee. Valued at over $25 billion, the privately held, San Francisco-based startup currently boasts two million listings across 190 countries. Airbnb is committed to fostering an open, transparent community among users. To that end, the platform requires users to display their actual names and strongly recommends that users upload profile pictures. Airbnb believes that when users provide this information they […] (More →)

Law on Auto-Pilot: Regulators Need to Adapt to the Advent of Self-Driving Vehicles

Once a fanciful staple of science-fiction movies, autonomous vehicles may soon be a common sight on American streets. Self-driving cars are being tested today by companies like Google—whose cars have driven more than 1.5 million miles over the past six years; Tesla, Volvo, and other brands already have semi-autonomous features in some of their cars.  The development of autonomous cars will have a tremendous impact on areas such as road safety and the labor market, but in order for Americans […] (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.