The legal system affects behavior not just directly, by imposing sanctions, but also indirectly, by producing information on how people behave. For example, internal company documents exposed during litigation will help third parties assess whether they trust a company and want to keep doing business with it. The law therefore affects behavior by shaping reputations. Drawing on economics, communications, and a nascent multidisciplinary literature on reputation, Roy Shapira highlights how reputation works, and how information from the courtroom affects the court of public opinion, with a particular emphasis on the role of the media. By fleshing out interactions between law and reputation, Shapira corrects common misperceptions about the ability of market forces to discipline corporate behavior and adds to timely, ongoing debates such as the desirability of heightened pleading standards or mandatory arbitration clauses. Law and Reputation should interest any scholar who invokes notions of market discipline in their work.

This book assesses the Statute for a European Cooperative Society (SCE) regarding agricultural activities by comparing how specific questions arising in this context must be dealt with under the Italian and Austrian legal systems. In this regard, Council Regulation (EC) No. 1435/2003, of 22 July 2003, on the Statute for a European Cooperative Society (SCE), is used as a tool for the structured analysis of various aspects of agricultural cooperatives. However, a comparison is only meaningful if the results are made comparable on the basis of a previously defined standard. Accordingly, the study uses, on one hand, a cooperative model developed by European legal scholars that defines general guidelines on how cooperatives should function (PECOL). On the other, the results are presented in connection with economic considerations to discuss how efficient rules can be developed.

Over the past two decades public accountability has become not only an icon in political, managerial, and administrative discourse but also the object of much scholarly analysis across a broad range of social and administrative sciences. This handbook provides a state of the art overview of recent scholarship on public accountability. It collects, consolidates, and integrates an upsurge of inquiry currently scattered across many disciplines and subdisciplines. It provides a one-stop-shop on the subject, not only for academics who study accountability, but also for practitioners who are designing, adjusting, or struggling with mechanisms for accountable governance. Drawing on the best scholars in the field from around the world, The Oxford Handbook of Public Accountability showcases conceptual and normative as well as the empirical approaches in public accountability studies. In addition to giving an overview of scholarly research in a variety of disciplines, it takes stock of a wide range of accountability mechanisms and practices across the public, private and non-profit sectors, making this volume a must-have for both practitioners and scholars, both established and new to the field.

This book provides a comprehensive analysis of the remedies practice the European Commission has adopted on the basis of articles 7 and 9 of regulation 1/03. Using article 7 as a normative benchmark, it shows that most of the criticism levelled at the Commission's article 9 decisions and the Alrosa judgment of the CJEU is not justified, since critics tend to over-state both the rigour of article 7 and the laxness of article 9. Remaining inconsistencies between the commitment practice and the standards for infringement decisions can, it is submitted, be justified by the consensual nature of commitment decisions and their underlying goal of procedural economy. Moreover, it is suggested that too little importance is generally assigned to the beneficial effect which commitments bring about by providing for precise and enforceable obligations without sacrificing the concerned undertakings' freedom to choose how to put the infringement to an end. Adopting a case-oriented approach, this study provides valuable insights for academics and practitioners alike.

A practical guide to addressing the challenges managers face in implementing and enforcing new anti-bribery regulations

The Bribery Act became the law of the land in July 2011. It abolished all existing U.K. anti-bribery laws and replaced them with a suite of new regulations decidedly different and more strenuous than what has come before. Under it companies found noncompliant will be open to billions in penalties and remediation costs, and managers will be open to prosecution if anyone associated with their company commits an offence covered by the act. As employees in nearly all departments will share responsibility for ensuring that adequate procedures are in place and enforced, there is a screaming need for practical, jargon-free guidance on the subject. This book fills that need. It arms managers and advisors with the knowledge and tools they need to implement, communicate and test controls and procedures that not only comply with but exceed the new anti-bribery requirements. It also offers priceless pointers on how to effectively react to bribery allegations if and when they occur.Packed with takeaway tips and checklists that put crucial information at readers' fingertipsWritten by a chartered accountant and compliance expert, the book offers practical steps managers should take to guarantee company complianceDescribes best practices in anti-bribery and corruption compliance in all key business areas, including accounting, sales and marketing, management, legal, and internal auditing

This book contends that, with regard to the likelihood of confusion standard, European trademark law applies the average consumer incoherently and inconsistently. To test this proposal, it presents an analysis of the horizontal and vertical level of harmonization of the average consumer. The horizontal part focuses on similar fictions in areas of law adjacent to European trademark law (and in economics), and the average consumer in unfair competition law. The vertical part focuses on European trademark law, represented mainly by EU trademark law, and the trademark laws of the UK, Sweden, Denmark and Norway. The book provides readers with a better understanding of key aspects of European trademark law (the average consumer applied as part of the likelihood of confusion standard) and combines relevant law and practices with theoretical content and other related areas of law (and economics). Accordingly, it is an asset for policymakers and practitioners, as well as general readers with an interest in intellectual property law and theory.

This edited volume focuses on specific, crucially important structural measures that foster corporate change, namely cross-border mergers. Such cross-border transactions play a key role in business reality, economic theory and corporate, financial and capital markets law. Since the adoption of the Cross-border Mergers Directive, these mergers have been regulated by specific legal provisions in EU member states. This book analyzes various aspects of the directive, closely examining this harmonized area of EU company law and critically evaluating cross-border mergers as a method of corporate restructuring in order to gain insights into their fundamental mechanisms. It comprehensively discusses the practicalities of EU harmonization of cross-border mergers, linking it to corporate restructuring in general, while also taking the transposition of the directive into account. Exploring specific angles of the Cross-border Mergers Directive in the light of European and national company law, the book is divided into three sections: the first section focuses on EU and comparative aspects of the Cross-border Mergers Directive, while the second examines the interaction of the directive with other areas of law (capital markets law, competition law, employment law, tax law, civil procedure). Lastly, the third section describes the various member states' experiences of implementing the Cross-border Mergers Directive.

The Professional Services Short Contract, produced in partnership with the Association for Project Management is intended for use in the appointment of a supplier to provide professional services on smaller scale projects where sophisticated management techniques are not required. It can be used for appointing project managers, supervisors, designers, consultants or other suppliers under NEC contracts and can also be used for appointing supliers on non-NEC construction projects or for non-construction projects. Construction Clients' Board endorsement of NEC3 The Construction Clients' Board (formerly Public Sector Clients' Forum) recommends that public sector organisations use the NEC3 contracts when procuring construction. Standardising use of this comprehensive suite of contracts should help to deliver efficiencies across the public sector and promote behaviours in line with the principles of Achieving Excellence in Construction. The PSSC is produced in partnership with the Association for Project Management

Looking at discrimination, education, environment, health and crime, this volume analyses United States Supreme Court rulings on several legal issues and proposed libertarian solutions to each problem. Setting their own liberal theory of law, each chapter discusses the law at hand, what it should be, and what it would be if their political economic philosophy were the justification of the legal practice. Covering issues such as sexual harassment, religion, markets in human organs, drug prohibition and abortion, this book is a timely contribution to classical liberal debate on law and economics.

Mass-tort lawsuits over products like pelvic and hernia mesh, Roundup, opioids, talcum powder, and hip implants consume a substantial part of the federal civil caseload. But multidistrict litigation, which federal courts use to package these individual tort suits into one proceeding, has not been extensively analyzed. In Mass Tort Deals, Elizabeth Chamblee Burch marshals a wide array of empirical data to suggest that a systematic lack of checks and balances in our courts may benefit everyone but the plaintiffs - the very people who are often unable to stand up for themselves. Rather than faithfully representing them, plaintiffs' lawyers may sell them out in backroom settlements that compensate lawyers handsomely, pay plaintiffs little, and deny them the justice they seek. From diagnosis to reforms, Burch's goal isn't to eliminate these suits; it's to save them. This book is a must read for concerned citizens, policymakers, lawyers, and judges alike.

Mass-tort lawsuits over products like pelvic and hernia mesh, Roundup, opioids, talcum powder, and hip implants consume a substantial part of the federal civil caseload. But multidistrict litigation, which federal courts use to package these individual tort suits into one proceeding, has not been extensively analyzed. In Mass Tort Deals, Elizabeth Chamblee Burch marshals a wide array of empirical data to suggest that a systematic lack of checks and balances in our courts may benefit everyone but the plaintiffs - the very people who are often unable to stand up for themselves. Rather than faithfully representing them, plaintiffs' lawyers may sell them out in backroom settlements that compensate lawyers handsomely, pay plaintiffs little, and deny them the justice they seek. From diagnosis to reforms, Burch's goal isn't to eliminate these suits; it's to save them. This book is a must read for concerned citizens, policymakers, lawyers, and judges alike.

Appropriate laws and regulations are essential tools to direct the action of procurers toward the public good and avoid corruption and misallocation of resources. Common laws and regulations across regions, nations and continents potentially allow for the further opening of markets and ventures to newcomers and new ideas to satisfy public demand. Law and Economics of Public Procurement Reforms collects the original contributions related to the new European Union Directives approved in 2014 by the EU Parliament. They are of both economists and lawyers, and have been presented in a manner that allows for exchanges of views and "real time" interaction. This book features, for each section, an introductory exchange between two experts of different disciplines, made up of a series of sequential interactions between an economist and a lawyer, which enriches the liveliness of the debate and improve the mutual understanding between the two professions. Four sections characterize this book: Supporting social considerations via public procurement; Green public procurement; Innovation through innovative partnerships; and Lots - The Economic and Legal Challenges of Centralized Procurement. These themes have current relevance of the new European Public Procurement Directives. Written by an impressive array of experts in their respected fields, this volume is of great importance to practitioners who work in the field of EU public procurement in the Member States of the EU, as well as academics and students who study public finance, public policy and regulation.

This adjudication textbook uniquely brings together a comprehensive analysis of, and commentary on, the Construction Contracts Act 2013 with a real-world perspective of adjudication, considering the knowledge, process and skills parties and adjudicators require in order to successfully participate in the adjudication process. Drawing on combined experience of 40 years in construction law, the authors provide invaluable guidance for all stakeholders in the adjudication process. The authors analyse and comment on the adjudication provisions of the Construction Contracts Act and describe prudent practice and procedure required to comply with Irish adjudication law, including case studies, case law and sample documentation for those to be involved as the parties, or those who want to act as adjudicators. Aimed at contractors, sub-contractors, developers, employers, construction, engineering and legal professionals and students, all of whom are either involved, or have an interest, in dispute resolution and adjudication.

Legal Aspects of Public Procurement, Third Edition provides a glimpse into the relationships between the legal, ethical, and professional standards of public procurement, outlining not only the interconnections of federal, state, and local law but also best practice under comprehensive judicial standards. The book addresses the ever-changing legal structures that work in conjunction and define the public procurement profession, providing recommended guidance for how practitioners can engage in the function while staying ethically aligned. Instead of trying to address every issue at the heart of public procurement, however, the book seeks to establish the history and spirit of the law, outlining how practitioners can engage proactively and willingly to not only perform their function, but to also become advocates for procurement law modernization. This third edition features new chapters on competitive sealed proposals and contract administration, as well as a thoroughly revised and updated chapter on procurement of information technology to better relate to an increasingly digital world. Promoting a start-to-finish guidance of the procurement process, Legal Aspects of Public Procurement explores the relationships between solicitation, proposals, contract administration, and the cutting-edge aspects of technology procurements, providing a theoretical and case-study driven foundation for novice and veteran practitioners alike.

Corporate governance in Asia continues to attract global interest due to its critical importance to the world's fastest-growing region. The study of governance systems remains complicated by Asia's mix of legal traditions, market systems and social history. This comprehensive textbook provides a comparative overview of the corporate governance framework, theory and practice in major Asian countries. Students at all levels will gain an understanding of corporate governance systems in Asia and how they compare with models attributed to the US, the UK and Europe. Featuring six foundational chapters focusing on general theory and corporate governance systems and eight country-specific chapters, this book can be used as the basic textbook for a general course on comparative corporate governance or as an essential reference about corporate governance in Asia for a wide variety of professionals including academics, jurists, students, practitioners, investors, creditors, policymakers and analysts.

All governments, in various ways, regulate and control nonprofit organizations. Nongovernmental organizations (NGOs), while hopeful of supportive regulatory environments, are simultaneously seeking greater autonomy both to provide services and to advocate for policy change. In part to counter increasing statutory regulation, there is a global nonprofit sector movement towards greater grassroots regulation - what the authors call self-regulation - through codes of conduct and self-accreditation processes. This book drills down to the country level to study both sides of this equation, examining how state regulation and nonprofit self-regulation affect each other and investigating the causal nature of this interaction. Exploring these issues from historical, cultural, political, and environmental perspectives, and in sixteen jurisdictions (Australia, China, Brazil, Ecuador, England and Wales, Ethiopia, Ireland, Israel, Kenya, Malawi, Mexico, Tanzania, Uganda, Scotland, United States, and Vietnam), the authors analyze the interplay between state control and nonprofit self-regulation to better understand broader emerging trends.

Framework agreements have arisen in response to the well documented and high costs of public procurement procedures. The agreements have significant potential to improve procedural efficiency in public procurement, but are complex to operate. Inadequate preparation and implementation can also frustrate their potential both to tackle waste, abuse and corruption and to enhance value for money. In this enlightening book, Gian Luigi Albano and Caroline Nicholas look at the key decisions required for designing and using framework agreements, and address both legal and economic issues to give the reader a clear understanding of the planning, variables and flexibility needed for efficient implementation. This book will be of interest to policy makers, lawyers and public procurement practitioners who want to deepen their understanding of the legal and economic issues surrounding framework agreements.

What is the purpose of the company and its role in society? From their origin in medieval times to their modern incarnation as powerful transnational bodies, companies remain an important part of business and society at large. Drawing from a variety of perspectives, this book adopts a normative approach to understanding the modern company and provides insights into how companies should be conceptualized. It considers key topics such as the development of corporate theory, the rights and obligations of the company, and the means and ends of corporate governance. Written by leading experts of different jurisdictions, this book provides important international viewpoints on some of the most pressing corporate governance questions.

Dozens of judicial opinions have held that shareholders own corporations, that directors are agents of shareholders, and even that directors are trustees of shareholders' property. Yet, until now, it has never been proven. These doctrines rest on unsubstantiated assumptions. In this book the author performs a rigorous, systematic analysis of common law, contract law, property law, agency law, partnership law, trust law, and corporate statutory law using judicial rulings that prove shareholders do not own corporations, that there is no separation of ownership and control, directors are not agents of shareholders, and shareholders are not investors in corporations. Furthermore, the author proves the theory of the firm, which is founded on the separation of ownership and control and directors as agents of shareholders, promotes an agenda that wilfully ignores fundamental property law and agency law. However, since shareholders do not own the corporation, and directors are not agents of shareholders, the theory of the firm collapses. The book corrects decades of confusion and misguided research in corporate law and the economic theory of the firm and will allow readers to understand how property law, agency law, and economics contradict each other when applied to corporate law. It will appeal to researchers and upper-level and graduate students in economics, finance, accounting, law, and sociology, as well as attorneys and accountants.

When comparing the laws of different jurisdictions, one often sees only the forest or the trees. This is particularly problematic in comparative company law, where students hope both to understand the overall framework of the law and grasp its practical application. This text's structure, now in its second edition, solves that dilemma. Chapters open with discursive analyses of the law in each of Germany, the UK and the US (Delaware, the ABA Model Business Corporation Act, and federal securities laws) and set out the high-level governing framework, particularly for the EU and its member states. This analysis is succinct and pointed, with numerous references to both the law and leading scholarship. The whole text is arranged to highlight comparative aspects. Diagrams are used where helpful. Chapters close with edited judicial decisions from at least two of the jurisdictions discussed, which allows fresh exploration of comparison in more detail, and pointed questions to guide class discussion.

When comparing the laws of different jurisdictions, one often sees only the forest or the trees. This is particularly problematic in comparative company law, where students hope both to understand the overall framework of the law and grasp its practical application. This text's structure, now in its second edition, solves that dilemma. Chapters open with discursive analyses of the law in each of Germany, the UK and the US (Delaware, the ABA Model Business Corporation Act, and federal securities laws) and set out the high-level governing framework, particularly for the EU and its member states. This analysis is succinct and pointed, with numerous references to both the law and leading scholarship. The whole text is arranged to highlight comparative aspects. Diagrams are used where helpful. Chapters close with edited judicial decisions from at least two of the jurisdictions discussed, which allows fresh exploration of comparison in more detail, and pointed questions to guide class discussion.

Corporate governance in Asia continues to attract global interest due to its critical importance to the world's fastest-growing region. The study of governance systems remains complicated by Asia's mix of legal traditions, market systems and social history. This comprehensive textbook provides a comparative overview of the corporate governance framework, theory and practice in major Asian countries. Students at all levels will gain an understanding of corporate governance systems in Asia and how they compare with models attributed to the US, the UK and Europe. Featuring six foundational chapters focusing on general theory and corporate governance systems and eight country-specific chapters, this book can be used as the basic textbook for a general course on comparative corporate governance or as an essential reference about corporate governance in Asia for a wide variety of professionals including academics, jurists, students, practitioners, investors, creditors, policymakers and analysts.