Commercial Law Intersections

Commercial law is not a single, monolithic entity. It has grown into a dense thicket of subject-specific branches that govern a broad range of transactions and corporate actions. When one of such dealings or activities falls concurrently within the purview of two or more of these commercial law branches—such as corporate law, intellectual property law, secured transactions law, conduct and prudential regulation—an overlap materializes. We refer to this legal phenomenon as a commercial law intersection (CLI). CLIs are ubiquitous. Notable examples include traditional commercial transactions, such as bank loans secured by shares, supply chain financing, or patent cross-licensing agreements, as well as nascent FinTech arrangements, such as blockchain-based initial coin offerings and other dealings in digital tokens. CLIs present a multi-faceted challenge. The unharmonious convergence of commercial law branches generates failures in coordination that both increase transaction costs and distort incentives for market participants. Crucially, in the most severe cases, this affliction deters business actors from entering into the affected transactions altogether. The cries of scholars, judges, and practitioners lamenting these issues have grown ever louder; yet methodical, comprehensive solutions remain elusive. This Article endeavors to fill this void. First, it provides a comprehensive analysis of CLIs and the dynamics that give rise to coordination failures. Drawing from systems theory and jurisprudence, it then identifies the deficiencies of the most common approaches used to reconcile tensions between commercial law branches, before advancing the concepts of “legal coherence” and “unity of purpose” as the key to addressing such shortcomings. Finally, leveraging these insights, it formulates a normative blueprint, comprising a two-step method which aims to assist lawmakers, regulators, and courts in untangling the Gordian knot created by CLI coordination failures

Personal Property Security Law: International Ambitions and Local Realities

Personal property security law is a key element of “access to credit” and “financial inclusion”. The prevailing view is that a legal framework enabling the effective use of personal property as collateral markedly benefits both lenders and borrowers. Lenders can offer financing at a lower cost thanks to reduced credit risk; borrowers can access funding by leveraging the otherwise unavailable value of the assets integral to their operations.Over the past century, the priorities of personal property security law have evolved fundamentally. As small and medium-sized enterprises (SMEs) and individual entrepreneurs have become the growth engine of both developed and developing economies, legislators have grown sensitive to the financing needs of these entities. In parallel, the advent of the information society has demanded that lawmakers address squarely the rules governing the use as collateral of intangibles such as “receivables”, “intermediated securities”, “non-intermediated securities”, and “intellectual property rights”, rather than confine their gaze to tangibles such as industrial machinery, mobile equipment and inventory. Concurrently, the increasingly transnational nature of both economic development policies and commercial activity have engendered the need for global principles and standards for asset-based lending.To address these novel priorities and promote a healthy and vibrant credit ecosystem, international and regional organizations have undertaken projects aimed at modernizing and harmonizing personal property security law. Over time, these efforts have yielded a panoply of legal instruments. Binding conventions have been adopted to unify the rules of discrete facets of personal property security law, while soft-law texts, such as model laws and legislative guides, have been formulated to supply comprehensive legal templates to lawmakers keen to revise their domestic legal regimes. Nevertheless, states have struggled to assimilate these international efforts into their domestic legal systems. Common law jurisdictions have been loath to abandon the familiarity and safety of the path paved by centuries of case law; in similar vein, civil law jurisdictions have resisted inducements to renovate the normative infrastructure erected by the codifications of the 19th century.This Chapter explores the tension between international ambitions and local realities, with a special focus on the issues encountered in civil law jurisdictions. To this end, the case of Italy is examined as a living experiment in comparative personal property security law. In this jurisdiction, the recent enactment of a non-possessory security device, absent a comprehensive reform of the country’s civil code affords important lessons for any civil law system which might be pondering personal property security law reforms. More profoundly, it epitomizes the gap that separates the aspirations of international legal instruments from their effective implementation in domestic contexts. This analysis is divided into two parts. The first reviews international and regional legal initiatives that have shaped the personal property law landscape and then identifies a set of core tenets shared among them. In the second part, attention shifts to Italy, scrutinizing both the personal property security legal edifice originally constructed in this jurisdiction and the attempts to overhaul it that have taken place over the past three decades. This is followed by a critical appraisal of the current state of the law, by reference to the aforementioned core tenets of personal property law reform

Light effective hole mass in undoped Ge/SiGe quantum wells

We report density-dependent effective hole mass measurements in undoped germanium quantum wells. We are able to span a large range of densities ($2.0-11\times10^{11}$ cm$^{-2}$) in top-gated field effect transistors by positioning the strained buried Ge channel at different depths of 12 and 44 nm from the surface. From the thermal damping of the amplitude of Shubnikov-de Haas oscillations, we measure a light mass of $0.061m_e$ at a density of $2.2\times10^{11}$ cm$^{-2}$. We confirm the theoretically predicted dependence of increasing mass with density and by extrapolation we find an effective mass of $\sim0.05m_e$ at zero density, the lightest effective mass for a planar platform that demonstrated spin qubits in quantum dots

Development of energy system model of the Caspian region

The main objective of the project is to develop and to use the model of energy system of Central Asia and Caspian region (CAC): Azerbaijan (AZJ), Kazakhstan (KZK), Turkmenistan (TKM) and Uzbekistan (UZB) - TIMES-CAC-4R and to assess quantitatively the direct economic benefits of cooperation in export of hydrocarbons among CAC countries

Low disordered, stable, and shallow germanium quantum wells: a playground for spin and hybrid quantum technology

Buried-channel semiconductor heterostructures are an archetype material platform to fabricate gated semiconductor quantum devices. Sharp confinement potential is obtained by positioning the channel near the surface, however nearby surface states degrade the electrical properties of the starting material. In this paper we demonstrate a two-dimensional hole gas of high mobility ($5\times 10^{5}$ cm$^2$/Vs) in a very shallow strained germanium channel, which is located only 22 nm below the surface. This high mobility leads to mean free paths $\approx6 \mu m$, setting new benchmarks for holes in shallow FET devices. Carriers are confined in an undoped Ge/SiGe heterostructure with reduced background contamination, sharp interfaces, and high uniformity. The top-gate of a dopant-less field effect transistor controls the carrier density in the channel. The high mobility, along with a percolation density of $1.2\times 10^{11}\text{ cm}^{-2}$, light effective mass (0.09 m$_e$), and high g-factor (up to $7$) highlight the potential of undoped Ge/SiGe as a low-disorder material platform for hybrid quantum technologies

Polyclonal and monoclonal B lymphocytes response in HCV-infected patients treated with direct-acting antiviral agents

Hepatitis C virus (HCV) chronic infection can be associated with extrahepatic manifestations such as mixed cryoglobulinaemia and lymphoproliferative disorders that are endowed with increased rates of morbidity and all-cause mortality. In this study, we used flow cytometry to evaluate the effect of interferon-free antiviral treatment on peripheral blood lymphocytes in HCV-infected patients with or without associated lymphoproliferative disorders. Flow cytometry analysis of peripheral blood lymphocytes was performed at baseline and at the end of treatment. In HCV-infected patients with lymphoproliferative disorders, we evaluated immunoglobulin (Ig) light chain \u3ba/\u3bb ratio variations as a measure of monoclonal B-cell response to antiviral therapy. Healthy volunteers were enrolled as controls. A total of 29 patients were included, nine with and 20 without lymphoproliferative disorders. Sustained virological response was achieved in 29 of 29 patients. We observed a significant reduction in the B-cell compartment (39% global reduction) in eight of nine HCV-infected patients with lymphoproliferative disorders after viral clearance. We recognized the same trend, even if less pronounced, in HCV-infected patients without lymphoproliferative disorders (9% global reduction). Among HCV-infected patients with lymphoproliferative disorders, three showed an improvement/normalization of the immunoglobulin light chain ratio, whereas in the remaining six patients monoclonal B cells persisted to be clonally restricted even 1\ua0year after the end of treatment. Our data show that DAAs treatment can be effective in reducing the frequency of pathological B cells in the peripheral blood of HCV-infected patients affected by HCV-associated lymphoproliferative disorders; however, monoclonal populations can persist after viral eradication

Lightly-strained germanium quantum wells with hole mobility exceeding one million

We demonstrate that a lightly-strained germanium channel ($\varepsilon_{//}$ = -0.41%) in an undoped Ge/Si$_{0.1}$Ge$_{0.9}$ heterostructure field effect transistor supports a 2D hole gas with mobility in excess of 1$\times$10$^{6}$ cm$^{2}$/Vs and percolation density less than 5$\times$10$^{10}$ cm$^{-2}$. This low disorder 2D hole system shows tunable fractional quantum Hall effect at low density and low magnetic field. The low-disorder and small effective mass (0.068$m_e$) defines lightly-strained germanium as a basis to tune the strength of the spin-orbit coupling for fast and coherent quantum hardware

When ring makes the difference: coordination properties of Cu2+/Cu+ complexes with sulfur-pendant polyazamacrocycles for radiopharmaceutical applications

Three polyazamacrocyclic ligands, i.e. 1,5,9-tris[2-(methylsulfanyl)ethyl]-1,5,9-triazacyclododecane (TACD3S), 1,4,7,10-tetrakis[2-(methylsulfanyl)ethyl]-1,4,7,10-tetrazacyclotridecane (TRI4S) and 1,4,8,11-tetrakis[2-(methylsulfanyl)ethyl]-1,4,8,11-tetrazacyclotetradecane (TE4S), were considered as potential chelators for the medically relevant copper radioisotopes. The ligands have been synthesized through facile, single-step reactions, and their acidity constants have been measured in aqueous solution at 25 degrees C. The kinetic, thermodynamic, electrochemical and structural properties of their Cu2+ and Cu+ complexes were investigated in aqueous solution at 25 degrees C using spectroscopic (UV-Visible, EPR, NMR) and electrochemical techniques (pH-potentiometric titrations, cyclic voltammetry and electrolysis). TACD3S was demonstrated to be unable to stabilize Cu2+, whereas for TRI4S and TE4S the formation of stable monocupric (CuL2+) and monocuprous (CuL+) complexes was detected. TRI4S coordinates Cu(2+)via a [4N] and a [4N]S array of donor atoms while with TE4S only the latter geometry exists. The thermodynamic stability and the kinetic inertness of the copper complexes formed by TACD3S, TRI4S and TE4S were compared with those previously reported for 1,4,7,10-tetrakis-[2-(methylsulfanyl)ethyl]-1,4,7,10-tetrazacyclododecane (DO4S) to unravel the influence of the ring size and the nitrogen donor array on the copper chelation properties of these sulfur-rich macrocycles. The copresence of four nitrogen atoms is an essential feature to allow effective copper coordination when a 12-member ring is employed, as the Cu2+-DO4S complexes were far more stable than those of Cu2+-TACD3S. Furthermore, the larger ring size of TRI4S and TE4S, when compared to DO4S, progressively increases the rate of the Cu2+ complexation reactions but decreases the thermodynamic stability of the Cu2+ complexes. Despite this, the ability of TRI4S and TE4S to stably accommodate both copper oxidation states makes them very attractive for application in nuclear medicine as they could avoid the demetallation after the biologically triggered Cu2+/Cu+ reduction

Caenorhabditis elegans provides an efficient drug screening platform for GNAO1-related disorders and highlights the potential role of caffeine in controlling dyskinesia

Dominant GNAO1 mutations cause an emerging group of childhood-onset neurological disorders characterized by developmental delay, intellectual disability, movement disorders, drug-resistant seizures and neurological deterioration. GNAO1 encodes the α-subunit of an inhibitory GTP/GDP-binding protein regulating ion channel activity and neurotransmitter release. The pathogenic mechanisms underlying GNAO1-related disorders remain largely elusive and there are no effective therapies. Here, we assessed the functional impact of two disease-causing variants associated with distinct clinical features, c.139A > G (p.S47G) and c.662C > A (p.A221D), using Caenorhabditis elegans as a model organism. The c.139A > G change was introduced into the orthologous position of the C. elegans gene via CRISPR/Cas9, whereas a knock-in strain carrying the p.A221D variant was already available. Like null mutants, homozygous knock-in animals showed increased egg laying and were hypersensitive to aldicarb, an inhibitor of acetylcholinesterase, suggesting excessive neurotransmitter release by different classes of motor neurons. Automated analysis of C. elegans locomotion indicated that goa-1 mutants move faster than control animals, with more frequent body bends and a higher reversal rate and display uncoordinated locomotion. Phenotypic profiling of heterozygous animals revealed a strong hypomorphic effect of both variants, with a partial dominant-negative activity for the p.A221D allele. Finally, caffeine was shown to rescue aberrant motor function in C. elegans harboring the goa-1 variants; this effect is mainly exerted through adenosine receptor antagonism. Overall, our findings establish a suitable platform for drug discovery, which may assist in accelerating the development of new therapies for this devastating condition, and highlight the potential role of caffeine in controlling GNAO1-related dyskinesia