Stop Tweeting: The Dangers of Unfiltered CEOs on Social Media

The rise of social media has redefined communication in the modern world. Prominent figures ranging from CEO’s to the President of the United States now have an easy avenue to quickly disseminate their opinions and views to anyone with access to the internet. While access to information is often seen as a universal good, the recent scandals surrounding Elon Musk illustrate the difficulties of regulating disclosure and compliance with the federal security laws for public companies in the modern age. […] (More →)

Private Market Reform: A Lower Accredited Threshold, or Full Repeal?

SEC Chairman Jay Clayton recently proposed altering the Accredited Investor standard governing individual investment in private securities. The SEC’s Regulation D, promulgated in 1982, sets out that companies can raise an unlimited amount of capital in private placement securities so long as such securities are only offered to “Accredited Investors.” Individuals with annual incomes exceeding $200,000 or a net worth (not including the value of the primary home) exceeding $1,000,000 may be considered Accredited Investors under Regulation D. While Chairman […] (More →)

13th amendment: The Economic Metamorphosis of Slavery

Introduction Slavery didn’t end in 1865. However, I wouldn’t blame you if you thought it did. Following an emancipation proclamation, the assassination of a president, and four years of a brutal civil war, the ratification of the 13th amendment was supposed to cement the end of slavery. Instead, it laid the constitutional foundation upon which the business of slavery could thrive under a new guise—you know, a change in business model. With 323 million people, the U.S. has less than […] (More →)

Ohio v. American Express: Should Tech Giants Thank Amex?

On June 25, 2018, the U.S. Supreme Court held that American Express’ anti-steering provisions do not violate the Sherman Act. In a 5-4 decision, the Court characterized the credit card market as a two-sided transaction platform, in which the credit card companies provide services to two distinct but interrelated markets: cardholders and merchants. Consequently, the plaintiffs bore the burden to prove the anticompetitive effects from both the merchants’ and the cardholders’ side before considering the procompetitive effects. While the antitrust […] (More →)

Is Shareholder Engagement Raising Your Prices?

Introduction These past couple of years, academics have sparred over the question of whether common ownership of Corporate America by a handful of large institutional investors poses an antitrust risk. This theory gained significant traction with the “Azar Paper,” an empirical study linking airline prices with common ownership in the airline industry by institutional investors. The Azar Paper purportedly found evidence that increased common ownership by institutional investors causes higher prices and is therefore an antitrust concern. Responses to the […] (More →)

The CLOUD Act: Mooting the Microsoft Ireland Case, but Not Forecasting Clear Skies Just Yet

One of the highest profile cases of the current Supreme Court term is likely now mooted due to a small portion of the lengthy omnibus spending bill, passed in March by Congress in a last-minute effort to avert an impending government shutdown. United States v. Microsoft[1]—which the Supreme Court heard oral argument for on February 27, 2018—is pending before the Court and a decision would have far reaching implications for government investigations, consumer privacy, and cloud storage technology. The main […] (More →)

Wither the Threshold for Patent Eligibility Following Berkheimer, Aatrix, and Exergen

Introduction and the Alice Test In 2014, the Supreme Court decided Alice Corp. Pty. Ltd. v. CLS Bank Int’l, 134 S. Ct. 2347 (2014), a landmark in patent law. Alice sets out a unified approach to determining whether inventions relying on abstract ideas, laws of nature, or products of nature constitute “patentable subject matter” under Section 101 of the patent act. Prong one under Alice asks if the patent claim is “directed to” one of those three judicially created exceptions to […] (More →)

ICOs: Emerging Regulatory Framework

Introduction Last year, entrepreneurs raised some $6 billion1 through “initial coin offerings”, or ICOs—a crowdfunding mechanism by which firms issue cryptocurrency, or digital coins, in exchange for legal tender or, usually, other cryptocurrency. Coin holders can stand to share in the projected returns of ICO-funded projects but do not necessarily receive a claim on the issuer’s earnings à la equity-holders who purchase stock in IPOs. Despite their name, digital coins serve as ‘currency’ only for the projects they are meant […] (More →)

Insider Trading in Cryptocurrency: Exploring New Territory for the CFTC

Introduction Insider trading in cryptocurrency has been a hot topic in industry and (to some extent) mainstream press[1]. Allegations that employees of Coinbase, a popular cryptocurrency exchange, bought Bitcoin Cash (BCH) in advance of its listing on the exchange sparked much of this recent interest. These allegations have even spawned a lawsuit by disgruntled BCH traders[2]. While that is a private suit not premised on traditional theories of insider trading liability, recent enforcement practices by the Commodity Futures Trading Commission […] (More →)

Public Benefit Corporations: Issues around Voting

As corporate social responsibility becomes a more prominent and permanent interest of a significant portion of U.S. consumers,[1] the Benefit Corporation could become a more attractive investment vehicle, and more Benefit Corporations may begin to go public. A Benefit Corporation is a legal structure that allows for-profit corporations to consider the interests of outside stakeholders in addition to shareholders, and have social purposes that go beyond maximizing share price.[2] In other words, a Benefit Corporation allows a for-profit business 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.