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Best of the Best Practices in Corporate Governance
During the past 2 years, there have been sweeping corporate governance reforms. The major components of that reform have been the passage of the Sarbanes-Oxley Act of 2002 by the U.S. Congress, the issuance of extensive rules pursuant to that Act by the Securities and Exchange Commission, and the adoption by the New York and American Stock Exchanges and NASDAQ of detailed standards as part of their respective listing requirements. Despite these reforms, many corporations, counselors, institutional investors and regulators have pushed for even higher standards of corporate governance. To that end, a body of literature has developed defining the “best practices” in corporate governance.
One common theme emerges from these efforts to define “best practices” — there is no cookie cutter formula that works for every corporation. Thus, for example, the corporate governance practices outlined in the lengthy report of Richard Breeden, the former Chairman of the Securities and Exchange Commission and court-appointed Monitor in the WorldCom case, may be viewed as overkill and unnecessary for most companies. However, for WorldCom, which has been the subject of widespread problems and seeks to recover credibility in the marketplace, the remedial measures outlined in Breeden's report may be appropriate.
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
Judge Rules Shaquille O'Neal Will Face Securities Lawsuit for Promotion, Sale of NFTs
A federal district court in Miami, FL, has ruled that former National Basketball Association star Shaquille O'Neal will have to face a lawsuit over his promotion of unregistered securities in the form of cryptocurrency tokens and that he was a "seller" of these unregistered securities.
Why So Many Great Lawyers Stink at Business Development and What Law Firms Are Doing About It
Why is it that those who are best skilled at advocating for others are ill-equipped at advocating for their own skills and what to do about it?
A Lawyer's System for Active Reading
Active reading comprises many daily tasks lawyers engage in, including highlighting, annotating, note taking, comparing and searching texts. It demands more than flipping or turning pages.
Blockchain Domains: New Developments for Brand Owners
Blockchain domain names offer decentralized alternatives to traditional DNS-based domain names, promising enhanced security, privacy and censorship resistance. However, these benefits come with significant challenges, particularly for brand owners seeking to protect their trademarks in these new digital spaces.