This Article demonstrates that all intellectual property defenses fit into three conceptual categories: general, individualized, and class defenses. A general defense challenges the validity of the plaintiff’s intellectual property right. When raised successfully, it annuls the plaintiff’s right and relieves not only the defendant, but also the entire world, of the duty to comply with it. An individualized defense is much narrower in scope:...
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In the nearly four decades since the U.S. Supreme Court reinstated the death penalty in 1976, the average time between sentencing and execution in the United States has steadily increased to 16.5 years as of the end of 2011. In states like California, the total lapsed time from sentencing to execution exceeded two decades as of 2008. In response to these lengthening delays, scores of death row inmates have been raising Lackey claims over...
The greatest protection investors have from the risks associated with capital investment is diversification. This Essay introduces a new dimension of diversification for investors: legal diversification. Legal diversification of investment means building a portfolio of securities that are governed by a variety of legal rules. Legal diversification protects investors from the risk that a particular method of minimizing agency costs will prove...
Tax fraud costs the federal government billions of dollars annually. Qui tam litigation, which features individuals bringing lawsuits on behalf of the government, is a powerful tool for the government in its fight against many types of fraud. The False Claims Act, the federal government’s most potent qui tam mechanism, however, expressly excludes tax fraud from its scope. Recognizing this gap in coverage, the Internal Revenue Service has...
The Mandatory Victims Restitution Act requires restitution for federal crimes involving property. In particular, the defendant is required to return any property taken, or, if return is impossible, to pay for the victim’s loss, which may be offset by a partial return of the property. In mortgage fraud cases, this usually entails calculating the lender’s loss—an unpaid loan—and offsetting that loss by the value of the collateral for...
Predatory pricing is a two-step strategy for securing monopoly profits. During the first step—the predation stage—a firm charges a price below its costs in the hope of driving its competitors out of the market by forcing them to sell at a loss as well. If it succeeds, the firm can proceed to the second step—the recoupment stage. After it has the market to itself, the now-dominant firm charges a monopoly price in an effort to recoup the...
Should copyright infringement claims be treated as marketable assets? Copyright law has long emphasized the free and independent alienability of its exclusive rights. Yet, the right to sue for infringement—which copyright law grants authors in order to render its exclusive rights operational—has never been thought of as independently assignable, or indeed as the target of investments by third parties. As a result, discussions of copyright...
In the ongoing discussions about financial services regulation, one critically important topic has not been recognized, let alone addressed. That topic is what this Article calls the “entity-centrism” of financial services regulation. Laws and rules are entity-centric when they assume that a financial services firm is a stand-alone entity, operating separately from and independently of any other entity. They are entity centric, therefore,...
Charles Reich’s visionary 1964 article, The New Property, paved the way for a revolution in procedural due process. It did not, however, accomplish Reich’s primary stated goal: providing those dependent on government assistance the same security that property rights long have offered owners of real property.
As Reich himself predicted, procedural rights have proven largely ineffectual, especially for low-income people....