Why Business Schools Must Incorporate Cybersecurity into The Business Curriculum: Preparing the Next Generation for Success

Businesses are dependent on highly technical information systems to conduct business operations and to develop and maintain intellectual capital. The news is filled with stories of how hackers have infiltrated and breached corporate information negatively impacting consumers. This data intrusion becomes a logistical and financial nightmare for businesses and customers. Businesses are ill prepared to protect this information, yet customers expect that their confidential information is secure. Tomorrow’s business leaders must understand the value of data, the importance of data protection and the effective management of data security breaches. It is crucial that business schools incorporate cybersecurity and privacy as a core component of their curriculum

Over- And Under-Funding: Crowdfunding Concerns of the Parties Involved

Financial collaboration for new business ventures or the expansion of existing businesses utilizing the internet and social media is expanding. One area of growth is in the area of crowdfunding. Crowdfunding or crowdsourcing is known as collaborative funding using the internet to attract many investors to a new business venture

Stumbling Down the Courthouse Steps: Mediators\u27 Perceptions of the Stumbling Blocks to Successful Mandated Mediation in Child Custody and Visitation

Although many concerns and criticisms about the efficacy of family law mediation have been made by attorneys, judges, and psychologists, we seldom hear from the mediators themselves about how the process works. In this study, we examine the mediators\u27 perceptions of the stumbling blocks to success in mandatory child custody mediation and make some recommendations about how the process might be improved

The Disproportionate Costs of Forming LLCs VS. Corporations: The Impact on Small Firm Liability Protection

The LLC is increasingly the ownership form of choice by nascent small business owners as it has some advantages over corporations and sole proprietorships and partnerships. Despite its advantages, some states have higher filing fees for LLCs than for corporations. Some states have significantly higher filing fees than other states for both LLCs and corporations. As a result, emerging companies are often discouraged from seeking liability protection, or they seek a corporation, reducing the flexibility that could be provided with an LLC. Our research shows that the disproportionate cost of starting an LLC is related to the percentage of LLCs formed in comparison with corporations. This can have significant implications to small business owners since they may be choosing ownership forms that are not advantageous to their particular venture strictly based on initial filing costs. These state policy decisions may lead to long-term tax revenue loss within states with higher filing fees

Legal Marketing Through the Decades: Pitfalls of Current Marketing Trends

Historically, states did not place restrictions on advertising by professionals; it was not until the beginning of the twentieth century that jurisdictions began to enact prohibitions on marketing of professional services. Eventually, the U.S. Supreme Court recognized the right of professionals to advertise their services and has continued to define the right in the decades since. While lawyers have long advertised in traditional media, such as billboards and television, thanks to the exploding popularity of social media websites like Facebook and Twitter, the available platforms lawyers may use to market their services will continue to multiply. New and creative approaches to marketing one’s services have resulted in equally creative state measures to corral such marketing practices. Despite attempts to address the ethical implications of advertising in a constantly evolving digital media age, the ABA and state bar associations have failed to keep up. The focus of this Article is to review the evolution of marketing techniques utilized in the legal arena and report on disciplinary actions stemming from advertising practices found to be unethical and in violation of state rules of professional conduct. By examining cases where attorneys’ marketing practices have been misleading or have resulted in the inadvertent creation of attorney–client relationships, this Article demonstrates the need for further guidance regarding online marketing of legal services

Alexa: Do I Have a Right to Information Privacy?

In this paper we explore modern technology used in our daily lives from Amazon’s Alexa to our smartphones, as well as a plethora of other devices, and how our right to privacy may be impacted by the use of technology. Information privacy is the relationship between the collection of data, technology, the expectation of privacy, and the legal, ethical and political issues surrounding them. Information privacy is the right to control how your information is collected and used. The Fourth Amendment to the U.S. Constitution is next dissected regarding the protections against government invasions of our privacy through the use of search warrants. Finally, we explore the need for federal comprehensive privacy laws to protect our personal information from private individuals and businesses often for their monetary gain

In Search of a Unique Identity: The L3C as a Socially Recognized Brand

The driving force for the decision to organize a new business venture as a limited liability company (“LLC”) is typically the desire to achieve favorable pass-through income tax treatment, while simultaneously enjoying the protection of limited liability for its owners. As noted by one court, “[t]he allure of the limited liability company is its unique ability to bring together in a single business organization the best features of all other business forms—properly structured, its owners obtain both a corporate-style liability shield and the pass-through tax benefits of a partnership.” During the twenty-year period between 1977 and 1997, the legal and business communities in the United States experienced the passage of fifty state statutes creating LLCs. In 1977, Wyoming passed the first LLC statute, and the last state to make this statutory adoption was Hawaii in 1997.5 The climate of state statutory changes did not end with the proliferation of LLC provisions, as will be further discussed. Now that all fifty states have adopted statutes creating LLCs, this form of business ownership should be attractive as the business structure of choice for new and existing businesses wishing to limit their personal liability and to be taxed as a partnership. As entrepreneurs make early start-up decisions regarding entity formation, they may soon realize that there are many possible forms from which they may choose. In addition to the corporation and the LLC, entrepreneurs can choose to start their business as a sole proprietorship, a general partnership, a limited partnership, or a limited liability partnership. Entrepreneurs, as well as those that advise them, should consider many factors before the entity selection is actually made by the business. It is widely recognized that states compete for new businesses as a way of increasing state revenues. State revenues have increased due to the LLC registration fees, and some states have chosen to distinguish the LLC fee structure from that of the corporation fees structures in an attempt to increase revenues. Given the current state of the economy and budgetary cutbacks, states are considering new ways to generate revenues, including the creation of new entity formation choices. To make the selection process somewhat more confusing, the LLC entity formation may also take the form of a “series LLC.” A series LLC statute allows for the establishment of a distinct series or cells that are internally created to form the limited liability company. Each series within the LLC entity has its own independent ownership and management, separate from the others within the same LLC entity. However, there are some uncertain legal areas involving series LLCs. An example of one area of concern is the issue of whether each unit in the series has to file a federal income tax return or whether just one return should be filed for the entire series LLC. While this article recognizes the uncertainty of the series LLC, the primary focus of this article is on the L3C entity. Is the L3C the next important and valuable label for those for-profit businesses seeking to be recognized as socially or environmentally responsible

Entrepreneurial decisions and legal issues in early venture stages: Advice that shouldn't be ignored

Entrepreneurs make numerous business decisions each day, many of which have significant legal implications. Due to a lack of time and knowledge, however, these entrepreneurs too often make quick decisions regarding important matters--both current and future--based on a few primary factors, one of which is cost. Entrepreneurs appear to make decisions based on concrete, but frequently inappropriate, factors such as comparison of bottom-line dollar value or relatively small fees; in this scenario, short-term decisions are made that do not take into account intricate legal and strategic implications which may arise down the road. As such, we would suggest a different approach whereby entrepreneurs take the time to learn about and understand the implications of these decisions on long-term sustainability, liability protection, and growth potential. Herein, we discuss how using cost to compare and make decisions has an impact on three issues with legal implications that occur early in the start-up process, and which pose major implications for the entrepreneur if he or she does not deal with them properly. Toward this end, we propose some solutions to help prevent this from happening.Entrepreneur Legal issues Decision making Cost comparison Intellectual property Contracts