This book embarks on a contemporary analysis of the interaction of economics and law relating to air transport, delving into the major issues that plague the industry. It shows how some of the thorny and frustrating issues could be approached sensibly. Among the issues discussed are the anomaly of exponential growth of air transport which makes airline profitability continue to be poor; the legislative impediments in most countries that preclude direct foreign investment in the industry; the confounding and muddled mess behind the economics of aircraft engine emissions; and the inexplicable reality that, although civil aviation is primarily meant to meet the needs of the people of the world, State regulators have upended the equation and given priority to national interests over the interests of the passenger. The book will be of interest to economists and lawyers alike who deal with air transport issues, and also to academics and students in the area of transportation as well as regulators and airlines.

With the aim of creating an autonomous regime for the interpretation and application of the contract, boilerplate clauses are often inserted into international commercial contracts without negotiations or regard for their legal effects. The assumption that a sufficiently detailed and clear language will ensure that the legal effects of the contract will only be based on the contract, as opposed to the applicable law, was originally encouraged by English courts, and today most international contracts have these clauses, irrespective of the governing law. This collection of essays demonstrates that this assumption is not fully applicable under systems of civil law, because these systems are based on principles, such as good faith and loyalty, which contradict this approach.

Corporate governance encompasses the free enterprise system, which is treated comprehensively in this book from a German perspective. This distinguishes the book from other books written in English in this subject area, not only because of the comprehensive way it covers German corporate law and corporate governance, but also because of the fact that it provides international and European perspectives on these important topics. This second edition is an extensively revised and updated version of the first edition, in particular with a view to the worldwide debt crisis. The authors provide readers with an overview of the unique features of German business and enterprise law and an in-depth analysis of the organs of governance of German public limited companies (general meeting, management board, supervisory board). In addition, approaches for reforms required at the international level are also suggested and discussed, including, among others, the unique interplay and dynamics of the German two-tier board model with the system of codetermination, referring to the arrangement of employees sitting on the supervisory boards of German public limited companies and private companies employing more than 500 employees; also covered are significant recent legal developments in Europe. The book highlights the core function of valuation and financial reporting at the international, European and German levels, with accounting as the documentary proof of good corporate governance. It also expands the scope of the first edition by a treatment of the German financial sector, global corporate finance and governance, and by including a new chapter on compliance of corporate governance laws, rules and standards in Germany. As far as comparative law is concerned, new developments in the area of corporate governance in the EU, the OECD Principles of Corporate Governance and corporate governance in the US, the UK and Australia are covered. The book is addressed to researchers, practitioners and basically anyone with an interest in the complex, but intriguing areas of corporate law and corporate governance.

Traditionally, tapping into the power of competitive intelligence (CI) meant investing in the development of an internal CI unit or hiring outside consultants who specialized in CI. "Proactive Intelligence: The Successful Executive's Guide to Intelligence" offers an alternative: learn how to do it yourself and how to effectively manage the parts you cannot. The tools and techniques that will enable you to produce your own CI for your consumption are out there, and have been honed by decades of work. But, you cannot just adopt them - you have to adapt them.

Why? Because, when you finish reading this book, you will be the data collector, the analyst, and the end-user. Traditional CI is premised on a reactive, two part relationship - a CI professional responding to what an end-user identifies as a need; by doing this yourself you can turn CI from being reactive to being proactive. As the decision-maker, you can get what CI you need, when you need it, and then use it almost seamlessly. Written by two of the foremost experts on CI, Proactive "Intelligence: The Successful Executive's Guide to Intelligence"

shows where and how CI can help you and your firm,

provides practical guidance on how to identify what CI you need, how to find the data you need, and how to analyze it, and

discusses how to apply CI to develop competitive- and career- advantages.

Each chapter is supported by important references as well as by an additional list of resources to support and supplement your knowledge. "Proactive Intelligence: The Successful Executive's Guide to Intelligence" teaches you how to generate proactive intelligence and use it to advance your business and your career- making it an essential resource for managers and executives, as well as everyonewho wishes to integrate CI into their daily work routine."

This book is intended to serve as a guide to businessmen and their advisers, either from outside the Common Market or from within, who seek basic information on questions in three main fields: company law and related legal matters, taxation, and labour law. For those who wish to establish an enter prise or form a holding or financing company in one of the Member States of the Common Market (including Greece, of course) or Switzerland this guide offers a unique opportunity to compare conditions in the various countries in the three fields. This is facilitated by the strict adherence to one format for each national chapter. Those who are already present in one or more of the eleven countries will find a global answer to a number of practical questions that may arise. For detailed answers the local lawyer or other consultant remains indispensable. The format is based on two different approaches the foreign investor may take: either he 'goes it alone', by way of establishing a branch, setting up a subsidiary or taking over an existing company, or he joins forces with another investor from within the host country or from outside. In the latter event there are a number of legal forms (jointly owned company, partnership, etc. ) which may be used."

A thorough analysis of insider trading requires the integration of law and finance, and this book presents a theoretical and empirical examination of insider trading by incorporating a synthesis of securities law with that of financial theory. The book begins with a conceptual framework that explores the theoretical roles of markets, firms and publicly held corporations, including a discussion of corporate governance to determine both who may have access to nonpublic information, and their legal rights and responsibilities. The book then examines different aspects of the securities laws, including the Securities Act of 1933, the Securities Exchange Act of 1934, and a critique of the SEC disclosure rules and their ramifications for market efficiency. This is followed by a detailed chronology of insider trading regulations enacted in the U.S. since 1934 and an overview of the existing empirical literature on insider trading. Empirical evidence is presented on insider trading activities and the merit of anti-insider trading laws is evaluated on theoretical arguments and recent empirical developments. The authors conclude by arguing that insider trading laws and enforcement activities have failed and propose the decriminalization of insider trading.

SpringerBriefs in Biotech Patents presents timely reports on intellectual properties (IP) issues and patent aspects in the field of biotechnology. In this volume the limits of patentability are addressed, a question that is often raised when it comes to biotechnological inventions: The first section addresses current issues in the patentability of plants produced by essentially biological processes including the controversy between farmer's privilege and patent exhaustion with respect to seeds in the US. The second section examines the patentability of human embryonic stem cells in Europe and the US, also considering alternative technologies with respect to their practicability and patentability. The third section focuses on the patentability of genes and nucleic acids, especially the issue of patenting of encoding genes and nucleic acids.

This book is about the regulation of corporations that use bribery in international commerce to win or maintain overseas business contracts and interests. Recent large-scale cases involving multinational corporations demonstrate how large commercial 'non-criminal' enterprises are being implicated in substantive overseas bribery scandals and illustrate the difficulties faced by responsible enforcement authorities in the UK and Germany. The book imports concepts from regulation theory to aid our understanding of the emerging enforcement, self-regulatory and hybrid responses to transnational corporate bribery. Lord implements a qualitative, comparative research strategy involving semi-structured interviews, participant observation and document analysis to provide empirical insights into this relatively invisible area of criminological interest. Despite significant cultural differences between the jurisdictions, this book argues that UK and German anti-corruption authorities face procedural, evidential, legal, financial and structural difficulties that are leading to convergence in prosecution policies. Although self-regulatory and hybrid mechanisms are aiding the response and gaining some level of regulation, the default position is one of accommodation by state agencies, even where the will to enforce the law is high. This book is essential reading for academics and students researching corporate and white-collar crimes and the concept of regulation more generally, as well as law enforcement agencies and international and intergovernmental organisations concerned with anti-corruption.

In Holland it is a frequent and happy phenomenon that experts employed by a particular company do not confine their knowledge and experience purely within the privacy of that firm, but allow others to profit therefrom by being active within professional or business organisations, committees and so on. Professional journals also contain contributions from such experts with gratifying regularity. It is, however, extremely seldom and thus all the more welcome if such experts, in this case company lawyers, are willing to do even more. Mister Mak (LL.D.) and Mister Molijn (LL.M.) have been able to find the time and the quiet (or have sacrificed their own free time) to place on record for the benefit of the business world in Holland their great knowledge of trade mark law and their practical opinions. Those who are no strangers in this trade mark Jerusalem, know that the authors have not acquired their knowledge and experi ence solely within the large companies in which they are em ployed, but also in committees and on the boards of organisations which devote themselves to achieving good trade mark protection and to stimulating and/or criticising new developments in the legislative field. This fact is evident from the critical obser vations in this book and gives the book an interesting extra dimension."

This book analyses and compares the benefits and drawbacks of shareholder activism in corporations under US American and German law, applying means of new institutional economics. The analysis concentrates on three fields of action of active shareholders in targeted corporations: nominations and elections, transaction decisions and financial decisions. The author evaluates and compares the effectiveness of the means which active shareholders use and of the limitations they face. She concludes that shareholder activism has benefits and drawbacks. Both require legal actions under the two jurisdictions, such as stronger nomination and election rights under US American law and more effective disclosure obligations under German law.

This sixth volume in the Oxford Law Colloquium Series adopts the format of a collection of essays by leading academics, each with a response from a practitioner offering an insight into how the different elements of this subject are dealt with in practice. Beginning with a discussion of compensatory damages, the first Part then turns to limitations on compensation, and concludes with a re-evaluation of the SAAMCO principle. The second Part examines restitution and punishment, with particular focus on proprietary restitution for unjust enrichment and the restitution of profits made by a breach of contract. The final Part looks at how the law on agreed remedies might develop, analyses the impact of the Human Rights Act 1993 on litigation between private parties, and concludes with a consideration of commercial remedies in the conflict of laws. This is a highly topical area of law and Commercial Remedies makes a significant contribution to the debate.

1.1 Cash Flow, Risk, Agency, Information, Investments The first volume dealt with the management of: cash flow (and the exchange of goods and services); risk; agency relationships; and information. The firm m- ages these aspects by legal tools and practices in the context of all commercial transactions. The second volume discussed investments. As voluntary contracts belong to the most important legal tools available to the firm, the second volume provided an - troduction to the general legal aspects of generic investment contracts and p- ment obligations. This volume discusses funding transactions, exit, and a particular category of decisions raising existential questions (business acquisitions). Transactions which can be regarded as funding transactions from the perspective of a firm raising the funding can be regarded as investment transactions from the perspective of an - vestor that provides the funding. Although the perspective chosen in this volume is that of a firm raising funding, this volume will simultaneously provide infor- tion about the legal aspects of many investment transactions. 1.2 Funding, Exit, Acquisitions Funding transactions are obviously an important way to manage cash flow. All - vestments will have to be funded in some way or another. The firm's funding mix will also influence risk in many ways. Funding. The most important way to raise funding is through retained profits and by using existing assets more efficiently. The firm can also borrow money from a bank, or issue debt, equity, or mezzanine securities to a small group of - vestors.

Taking a fresh and modern approach to the subject, this fully revised and restructured textbook provides everything necessary to gain a good understanding of international commercial litigation. Adopting a comparative stance, it provides extensive coverage of US and Commonwealth law, in addition to the core areas of English and EU law. Extracts from key cases and legislative acts are designed to meet the practical requirements of litigators as well as explaining the ideas behind legal provisions. Significant updates include coverage of new case-law from the Court of Justice of the European Union. Of particular importance has been a set of judgments on jurisdiction in tort for pure financial loss, many of which have involved investment loss. New case law from the English courts, including the Supreme Court, and from the Supreme Court of the United States, is also covered.

This book presents a thorough analysis of the EU provisions and legal framework of passenger rights in the civil aviation field. It provides both a theoretical and practical view of the initiatives that have been taken in this field. This includes initiatives taken by the European Commission (EC) with the aim to improve the protection of passengers and by the European Court of Justice (ECJ) with regard to jurisprudence. The book points out the goals that have been obtained so far, as well as the goals that still need to be pursued. Particular attention is paid to EU institutions that have been created ad hoc to supervise aviation safety and harmonize the various safety procedures of the EU Member States. Recent and upcoming packages of important safety and security measures are examined in detail. The book gives examples of current applications of legislative instruments and presents readers with the tools to gain a deeper understanding of the legal, practical and theoretical aspects of this important topic in aviation.

The legal regime of outer space, as enshrined in the Declaration of Legal Principles Governing the Activities of States in the Exploration and Use of Outer Space (General Assembly Resolution 1962 (XVIII), adopted in 1963, and in the 1967 Treaty on Principles Governing the Activities of States in the Exploration and Use of Outer Space, including the Moon and Other Celestial Bodies, while prohibiting the appropriation of space by any means, envisages exploration for the bene't and in the interest of all countries on a basis of equality and in accordance with international law. Freedom of scienti?c investigation is also contemplated. Elaborating on these instruments, the Assembly in 1996 adopted the Declaration on International Cooperation in the Exploration and Use of Outer Space (RES 51/122), in which it called for heightened international co-operation, with part- ular attention to be given to the bene't for and the interests of developing countries and countries with nascent space programmes. Thus, it is self-evident that the outer space regime, including the 1972 Liability Convention, envisages the conduct of national activities "for the bene't and in the interests of all countries, irrespective of their degree of economic or scienti?c dev- opment." In this regard, Article 6 of the 1967 Treaty not only provides for national activities in outer space, but for international responsibility whether such activities are carried out by governmental agencies or non-governmental entities, and aims at ensuring that national activities are conducted in conformity with the Treaty.

In the time-worn traditions of the transportation industry, ship pers and carriers regard one another as enemies. There is, to be sure, a certain degree of validity to such a viewpoint. An element of conflict will naturally be present in any vendor-purchaser relationship. The two, after all, are seeking distinctly different things from that relationship; and to a con siderable extent each party's success in realizing its own goals must be achieved at the expense of the other. At the same time, however, viewing that relationship as strictly zero-sum-a gain by one side always resulting in an equal and offsetting loss by the other-is a gross misconception. It overlooks the key reality that, no matter which party comes closest to its own objectives, the relationship, and the business transactions that flow from it, must ultimately benefit both. Without that level of mutual benefit the relationship will simply not exist (or will soon founder if it somehow does come into being); for it is only the self-interest of the two parties that impels them to establish and continue that relationship at all. In transportation, however, this element of mutuality-the attitude that the parties share a common interest in nurturing their relationship-is often forgotten. Instead of working to gether as, fundamentally, partners in a business transaction from which both expect to derive gains, they dedicate the bulk of their energies to fighting, rather than cooperating, with one another."

The development of new technologies places new challenges to the interpretation and implementation of legislation in the information society. The recent deployment of service-oriented computing and cloud computing for online commercial activities has urged countries to amend existing legislation and launch new regulations. With the exponential growth of international electronic commercial transactions, a consistent global standard of regulating the legal effects of electronic communications, the protection of data privacy security and the effectiveness of Internet-related dispute resolution are motivating factors to build users' trust and confidence in conducting cross-border business and their sharing information online. The second edition of this book continues taking a 'solutions to obstacles' approach and analyses the main legal obstacles to the establishment of trust and confidence in undertaking business online. In comparing the legislative frameworks of e-commerce in the EU, US, China and International Organisations, the book sets out solutions to modernise and harmonise laws at the national, regional and international levels in response to current technological developments. It specifically provides information on the key legal challenges caused by the increasing popularity of service-oriented computing and cloud computing as well as the growing number of cross-border transactions and its relation to data privacy protection, Internet jurisdiction, choice of law and online dispute resolution. It considers how greater legal certainty can be achieved in cloud computing service contracts and other agreements resulted in service-oriented computing. The second edition of Law of Electronic Commercial Transactions is a clear and up to date account of a fast-moving area of study. It will be of great value to legislators, politicians, practitioners, scholars, businesses, individuals, postgraduate and undergraduate students. It provides in-depth research into finding solutions to remove eight generic legal obstacles in electronic commercial transactions and offers insights into policy making, law reforms, regulatory developments and self-protection awareness.

This book develops the theme of my earlier Innovation: The Creative Impulse in Human Progress, and considerably expands the latter book. I came to the study of innovation from experience in industry which had brought me into close practical contact with it, and my initial interest in the subject was in terms of the way in which it expressed human creativity. Progressively, however, my focus shifted towards the laws which help or hinder creativeness in being economically fruitful. This led to the writing of The Political Economy of Innovation and the editing of Direct Protection of Innovation. In the latter work, I had the opportunity of arguing the case for specific new law to complement the Patent system, and of having that case criticised by experts. Just as the first book set economic innovation in a wider context of creativity, the present one sets the law that makes it possible in a wider context of property rights. This is because my study of intellectual property resulted in growing awareness of the incomparable past value and even greater future potential of these rights for innovation and prosperity. My intellectual debt to Douglass North is as great in this later stage as it was to Joseph Schumpeter in the earlier one, and to Christopher Dawson, by whom I had the good fortune to be taught in person, in both.

The dangers of involvement in corruption need to be embedded in corporate strategy. Companies' response to these dangers must also be reflected in their practices, particularly if operating outside its own borders. This book guides managers through the complexity of bribery issues with advice on how to implement anti-corruption strategies.

The `corporation' is by far the most successful legal concept of organization among large business firms. Yet there are numerous examples of firms operated in corporate form that were troubled either by internal problems arising from divergences of interests between the firm's various constituents (notably, managers and investors), or by conflicts with other members of society (including both victims of accidents or environmental pollution caused by the firm and unpaid creditors in the event of business failure). It is this paradox between the corporation's prima facie success and its apparent ambiguity in other respects that is examined in this book. Using modern economic theory concerning the functioning of markets and organizations, The Corporate Paradox examines how the concept of the corporation relates to the economic entity it organizes and in effect, how it may affect the use that firms make of society's valuable but scarce resources. To this end, both the economic rationales underlying the corporate form of organization and its effects on organizational and individual behavior are reviewed, with special emphasis on the separation between `ownership' and `control' and the principle of limited liability of shareholders, two features which are typical of the corporate concept. Finally, this book surveys, from a predominantly economic perspective, legal remedies that United States and Dutch law have developed in response to certain inefficiencies to which these features may give rise.

While much has been gained from the traditional legal scholars' doctrinal mode of analysis of the takings issue, this volume is presented in the belief that contributions from scholars from the various schools of thought that comprise Law and Economics can complement the traditional doctrinal approach to law. As the discipline of Law and Economics continues to advance, it remains heterodox; there are several vantage points from which to describe and analyze the interrealtionships between law and economics. It is hoped that the analyses from the several vantage points provided here will complement the prodigous body of existing doctrinal, legal analysis of the takings issue and deepen the understanding of the jurisprudential questions and economic issues surrounding the takings issue. To this end, each contributor to this volume was selected as representative' of one of the schools of thought comprising Law and Economics. In addition, each contributor was provided with a collection of recent United States Supreme Court cases (those summarized in Chapter 1 of this book) along with President Regan's Executive Order: The sole charge to each contributor was to conduct a legal-economic analysis of the cases and the President's Executive Order from the vantage point of their respective school of thought.