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Conceptualizing Contractual Interpretation
May 20, 2013
Contract interpretation is an important subject for lawyers but there are few rigorous economic analyses. We use a formal model to derive the interpretive rule that an “ideal” legal enforcer would adopt. Commercial parties make contracts to maximize gains from trade. Our enforcer is ideal, in the sense that he interprets contracts to maximize welfare over the set of contracting relationships. We then compare how actual interpretation matches the ideal. We derive the following results, among others:...
May 20, 2013
Contract interpretation is an important subject for lawyers but there are few rigorous economic analyses. We use a formal model to derive the interpretive rule that an “ideal” legal enforcer would adopt. Commercial parties make contracts to maximize gains from trade. Our enforcer is ideal, in the sense that he interprets contracts to maximize welfare over the set of contracting relationships. We then compare how actual interpretation matches the ideal. We derive the following results, among others:...
Discovery and Disclosure with Asymmetric Information and Endogenous Expenditure at Trial
May 20, 2013
We develop a model with asymmetric information, in which the uninformed party makes the offer. When the parties proceed to trial, their endogenous expenditures partially determine the outcome. The endogenous spending at trial can either strengthen or weaken the bargaining position of the uninformed party with the player types who settle. When the bargaining position is strengthened, some standard results on information transmission prior to trial may be overturned. The recipient of the offer with...
May 20, 2013
We develop a model with asymmetric information, in which the uninformed party makes the offer. When the parties proceed to trial, their endogenous expenditures partially determine the outcome. The endogenous spending at trial can either strengthen or weaken the bargaining position of the uninformed party with the player types who settle. When the bargaining position is strengthened, some standard results on information transmission prior to trial may be overturned. The recipient of the offer with...
WIPO Arbitrations Over Domain Name Disputes Reach Record High
May 20, 2013
Since 2000, the World intellectual Property Organization (WIPO) has provided arbitration services for alleged cybersquatting disputes. Cybersquatting is the abusive registering and trafficking in internet domain names to drive up profits using the goodwill created by another company or entity. WIPO reportedly began empowering arbitrators from its Arbitration and Mediation Center to award domain names to others in situations where an entity acquired or registered the website abusively. The...
May 20, 2013
Since 2000, the World intellectual Property Organization (WIPO) has provided arbitration services for alleged cybersquatting disputes. Cybersquatting is the abusive registering and trafficking in internet domain names to drive up profits using the goodwill created by another company or entity. WIPO reportedly began empowering arbitrators from its Arbitration and Mediation Center to award domain names to others in situations where an entity acquired or registered the website abusively. The...
Texas Business Torts Update
May 20, 2013
This survey examines significant business torts decisions by Texas courts for the period from March 2012 through February 2013. “Business torts” obviously covers a broad spectrum, and in narrowing the survey, we included cases that either decided new issues or examined issues of particular interest to business litigators. During the survey period, Texas courts addressed: (1) the meaning of restoration under the Texas Deceptive Trade Practices – Consumer Protection Act (“DTPA”); (2) the circumstances...
May 20, 2013
This survey examines significant business torts decisions by Texas courts for the period from March 2012 through February 2013. “Business torts” obviously covers a broad spectrum, and in narrowing the survey, we included cases that either decided new issues or examined issues of particular interest to business litigators. During the survey period, Texas courts addressed: (1) the meaning of restoration under the Texas Deceptive Trade Practices – Consumer Protection Act (“DTPA”); (2) the circumstances...
The Kinkade Case, Or How Not to Conduct an Arbitration
May 20, 2013
While all arbitrators aim for the highest level of quality control, errors occur. Sometimes these errors are pretty egregious, which is why we always recommend using a trusted and well-respected ADR provider and arbitrator. In a recent case coming out of Michigan, the Thomas Kinkade art company alleged that one of its dealers failed to pay for art it received. The dealer counterclaimed that Kinkade had fraudulently induced it to enter the dealership agreement. The matter went to arbitration...
May 20, 2013
While all arbitrators aim for the highest level of quality control, errors occur. Sometimes these errors are pretty egregious, which is why we always recommend using a trusted and well-respected ADR provider and arbitrator. In a recent case coming out of Michigan, the Thomas Kinkade art company alleged that one of its dealers failed to pay for art it received. The dealer counterclaimed that Kinkade had fraudulently induced it to enter the dealership agreement. The matter went to arbitration...
Can This Y-Combinator Startup’s Technology Keep Couples Out Of Divorce Court?
May 19, 2013
Last year just over 2 million American couples tied the knot. In the same time 800,000 married couples filed for divorce, underscoring the oft-quoted statistic that nearly half of all marriages will end in a split. If you look at all that activity as an industry (weddings are, after all), it’s a big one—estimated at $30 billion in attorney fees alone. So it’s not entirely surprising that the enterprising startup set are looking to get in on the action. One new entry to the landscape is less...
May 19, 2013
Last year just over 2 million American couples tied the knot. In the same time 800,000 married couples filed for divorce, underscoring the oft-quoted statistic that nearly half of all marriages will end in a split. If you look at all that activity as an industry (weddings are, after all), it’s a big one—estimated at $30 billion in attorney fees alone. So it’s not entirely surprising that the enterprising startup set are looking to get in on the action. One new entry to the landscape is less...
Skit!’s App Lets You Create Animated Stories
May 19, 2013
Skit!, based in Boston, has created an app that lets anyone take photos and drawings and create an animated story to share...
May 19, 2013
Skit!, based in Boston, has created an app that lets anyone take photos and drawings and create an animated story to share...
Cloud Options Creates a Commodities Exchange for Cloud Computing Services
May 19, 2013
Cloud Options of London is one of two international teams participating in this year’s TechStars Cloud accelerator program. Sarah...
May 19, 2013
Cloud Options of London is one of two international teams participating in this year’s TechStars Cloud accelerator program. Sarah...
A Slice of Silicon Hills News Features BudgetDoc
May 19, 2013
Do you want a doctor? Do you want to bypass the hassle of insurance claims and pay cash up front? Then BudgetDoc wants...
May 19, 2013
Do you want a doctor? Do you want to bypass the hassle of insurance claims and pay cash up front? Then BudgetDoc wants...
Kauffman Foundation: The Two Types of Entrepreneurs
May 19, 2013
Bob Metcalfe, professor of innovation at the University of Texas at Austin, is known to say “the world’s problems will...
May 19, 2013
Bob Metcalfe, professor of innovation at the University of Texas at Austin, is known to say “the world’s problems will...
