How Reduced Injunction Likelihood Affects Firm Value, Profitability, and Technology Commercialization

Injunctions are among the costliest remedies available during patent litigation, as alleged infringers are prohibited to make, use, or sell an item that infringes on a covered patent. Injunctions can result in a devastating impact on a firm when the affected product is important to its business. As patent litigation—and threatened injunctions—has increased dramatically since the 1990s, […]

It’s Time to Regulate Stablecoins as Deposits and Require Their Issuers to Be FDIC-Insured Banks

 In November 2021, the President’s Working Group on Financial Markets (PWG) issued a report analyzing the rapid expansion and growing risks of the stablecoin market.[1]  Stablecoins are digital assets that claim to maintain a “stable” value with reference to a designated currency (typically the U.S. dollar) or some other asset, index, or formula.  PWG’s report concluded that […]

A FOIA for Facebook

Everyone seems to be a fan of transparency, these days. Politicians of every stripe are keen to preach their belief in it, and transparency has become a watchword for everything from marketing, to healthcare, to journalism. In debates around content moderation, calls for transparency are a ubiquitous feature. Online platforms, for their part, are keen to tout their own belief in the importance of […]

Recognizing Equity Crowdfunding Regimes as Key Drivers of Financial Inclusion and FinTech

Equity crowdfunding (ECF)—also referred to as securities crowdfunding or investment crowdfunding—is an alternative finance model that was projected to become the leading source of funding for start-up companies by 2020 ahead of venture capital. To emphasize its economic impact, in previous scholarship we estimated that in 2018 alone, over $400 million was raised through ECF from just four countries: […]

Multinational Enterprises, Technology Transfers, and Robot Adoption

Multinational Enterprises (MNEs) are crucial players in the world economy. They shape global production through Foreign Direct Investment (FDI), are responsible for about two-thirds of international trade flows, and are important transnational employers. Their activities are thus of primary interest both for academic economists and policymakers. From the host countries’ standpoint, FDI is frequently praised for […]

Corporate Law is Driving the Negative Effects of Social Media

Facebook, Instagram, Twitter, and several other social media companies have once again fallen under public scrutiny. This time, Congress is investigating several social media platforms in connection with the January 6thinsurrection. Further, Facebook recently conducted its own research on Instagram users, and company documents acknowledge the app negatively impacts mental health. While researchers continue to study the negative effects […]

Should the States or Federal Government Regulate Fintech?

From lending to payment processing, the core functions of banks are increasingly performed by financial technology (fintech) firms. But U.S. law has struggled to accommodate the rise of fintech. To catch up to the market, state and federal officials have undertaken a diverse array of regulatory initiatives. Numerous regulators have relied on the prevailing paradigm […]

Curbing Market Manipulation in the Cryptocurrency Spot Market: The Need for a Centralized Cryptocurrency Regulation in the US

In October 2020, the UK Financial Conduct Authority (‘FCA’) imposed a ban on the selling of cryptocurrency-related derivatives (‘crypto derivatives’) to retail investors. The FCA implemented this ban after concluding that cryptocurrency as a reference asset in any derivatives product is opaque, complex, and unreliable. In Europe, the European Securities and Markets Authority (‘ESMA’) has taken a […]

The E.U.’s Digital Operational Resilience Act: Cloud Services & Financial Companies

In September 2020, the European Commission released a proposed regulation on digital operational resilience for the financial sector (“DORA”), which aims to establish a detailed and comprehensive framework on digital operational resilience for financial entities in the European Union (“EU”). DORA includes provisions governing the management of risks associated with financial entities’ outsourcing to technology service providers […]

CBDC – How Dangerous is Programmability?

Among Central Bankers, the issuance of a Central Bank Digital Currency (CBDC) is a topic of great interest. The Bank for International Settlement (BIS) has recently published a report showing that many central banks are conducting research and experiments and a small number are already deploying pilot projects. Research projects have been set up by European Central Bank (ECB), […]