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The biology and fishery of Atlantic sailfish Istiophorus platypterus from southeast Florida
(Document has 31 pages.
It\u27s Time for a Good Hard Look in the Mirror: The Corporate Law Example
This Article asserts that the move from the industrial age to the
information age represents a fundamental change to our society on
such a widespread basis that the legal order must reexamine the
premises about how our society functions, assessing whether
foundational elements of U.S. Common Law remain valid. This
Article first confronts briefly the continuing acceptance of certain
foundational premises in contract and intellectual property law,
illustrating that such premises are no longer supported by the
realities of modern society. With fundamental change challenging
multiple areas of law in the information age, this problem is worthy
of widespread inquiry by legal scholars in various fields. This
Article then turns to a detailed analysis of the premises supporting
shareholder primacy in corporate law, demonstrating that the historic
justifications for allocations of ownership, control and duties no
longer support these premises. Based on the relative needs of today’s
businesses vis-Ă -vis the contributions of various other constituencies,
this Article asserts that employees should also have certain duties
owed to them. This Article concludes with a novel model for
creating such a stake in the form of a springing right to profit
sharing
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