Breaking Rocky Ground: Issues in Investment and Ethics in a Shaken Economy

Tuesday, January 1st, 2002 at 12:00 am by Michael L. Fox, Yair Y. Galil, Jay C. Klear
Michael L. Fox, Yair Y. Galil, Jay C. Klear, Breaking Rocky Ground: Issues in Investment and Ethics in a Shaken Economy, 2002 Colum. Bus. L. Rev. 793

In Fall 2001, Daniel Oppenheim, then-Editor-in-Chief of the Columbia Business Law Review, brought forth the idea of publishing an annual survey of law in the Review. We three staff members, Jay C. Klear, Yair Y. Galil, and Michael L. Fox, were selected to undertake the project. After much thought and consideration, we decided to write four individual pieces addressing different concerns of investment law in light of recent developments in the marketplace. The first Section analyzes the securitization of intellectual property and evaluates creative use of fund structures to promote the applicability of this financing tool. The second Section, addressing a different aspect of intellectual property investment, assesses the status of proprietary customer information in the context of a bankruptcy and the issues raised by a privacy policy limiting the transferability of such information. The third Section deals with recent turbulence in the field of material adverse change (‘MAC ‘) clauses and attempts to provide guidelines on dealing with changing attitudes toward adverse change risks on the part of investors. Finally, to complement the attention given over the past year to professional responsibility in accounting and corporate governance, we felt that it was appropriate to devote the final Section to the professional responsibility of lawyers who represent corporations and business organizations, with particular focus on their duties of confidentiality and disclosure.

Author Information

CLS Students