In the years following the 2008 global recession, the legal industry’s largest firms faced financial difficulties resulting in mass layoffs, mergers, and bankruptcies1 In this blog post, I will discuss some of the changes that have occurred in the “biglaw” industry since the recession along with the reasons for these changes. Most notably, many large…
Category: Blog Articles
Regulation Crowdfunding: The Results Are In and the Future Looks Bright
Crowdfunding has become a common way for entrepreneurs to secure financing. In 2015, total global crowdfunding raised an estimated $34 billion in financing, compared to $2.7 billion in 2012. 1 With such a large impact on the economy, it was only a matter of time before industry regulation was enacted. On May 16, 2016, Regulation Crowdfunding…
Time Warner and AT&T: Lengthy Regulatory Review Process Ahead?
AT&T Inc. has proposed an $85.4 billion acquisition of Time Warner Inc. to create a media and communications powerhouse.1 AT&T hopes to capitalize on combining Time Warner’s library of premium entertainment content with its expansive distribution network.2 However, the acquisition has drawn significant scrutiny and faces a stringent regulatory approval process. The Wall Street…
Exxon Mobil and the SEC Oil and Gas Asset Reporting Standards
On September 20, 2016, the Wall Street Journal reported that the U.S. Securities and Exchange Commission (SEC) is investigating Exxon Mobil Corporation’s asset valuation.1 The probe focuses on Exxon’s asset valuations in light of climate change regulations.2 As part of the probe, the SEC is investigating Exxon’s tradition of not writing down its reserves during…
Rule 5.4 and the Chance that American Law Firms Will Eventually Go Public
Currently, every jurisdiction in the United States prohibits public ownership of law firms.1 Though each state is free to adopt its own ethical rules, most base their ethical rules on the American Bar Association’s Model Rules of Professional Conduct, which prohibit profit sharing with non-lawyers in Rule 5.4.2 The only exception is that in Washington,…
Recent Development and Implication of Teladoc, Inc. v. Texas Medical Board
What is the case is about? Teledoc, Inc (“Teladoc”), the plaintiff in this case, is the largest telehealth provider in the nation.1 Individuals can register on Teladoc’s web portal and utilize the portal as a platform to request telephone consultation from board certified physicians employed by Teladoc.2 “Based on medical records and history, reported…
SPAC: The History of the Form, from Penny Stocks and Blank Check Offerings (Part II of IV)
Editor’s Note: This blog series is presented in four parts. This second installment provides a background on the history of special purpose acquisition companies. The SPAC form had its beginning in a turbulent time for capital markets in the United States. Its earliest predecessor was a type of public offering commonly referred to as…
The Impact on Businesses from Trump’s and Clinton’s Respective Tax Proposals
In this blog post, I will provide a brief analysis of the tax proposal of the presidential candidates from the two major parties. First, I will examine the relevant portions of Republican nominee Donald Trump’s tax proposal and their potential impact on U.S. businesses and the overall economy. Then, I will do the same with…
Some People Are Calling Airbnb Racist – And The Company Is Responding
Applying Old Laws to New Problems If you’re renting out a room in your apartment or giving someone a ride in your car, are you legally obligated to abide by the same anti-discrimination rules that businesses must observe? The answer isn’t crystal clear for millennial-preferred services such as Uber, Lyft, and Airbnb that have…
SPAC: An Introduction to the Special Purpose Acquisition Company (Part I of IV)
Editor’s Note: This blog series is presented in four parts. The first, below, is an introduction to a new strategy in the realm of IPOs, the special purpose acquisition company. On February 29th, 2016, $450 million of investors’ money was raised in the initial public offering of Silver Run Acquisition Corporation.1 At the time…