Current Trends in Business Law
Technological advancements and globalization are significantly shaping the current research landscape of business law. In an era where data breaches and cybersecurity are prevalent, research papers may delve into the legal frameworks surrounding intellectual property protection in the digital age. Beyond reshaping intellectual property law, technological advancements are impacting almost every area of business law and research papers focused on corporate liability, contract law and securities regulation make up a traditional portion of the research landscape, but recent advancements have allowed topics sophisticated and outside the box to emerge . Artificial intelligence (AI) technology is having an impact on the entire corporate landscape from how e-commerce is advancing copyright law to how new technologies are changing long-standing models of corporate liability and regulatory principles for businesses. So whether it’s a research paper on how 3D printing is changing the regulatory landscape for product liability, or an examination of how blockchain technology is impacting intellectual property law, these new legal challenges are at the forefront of the ever-changing research landscape. As the world continues to globalize and advance the fast pace of technological change, there will be no shortage of emerging business law research topics to write about.
Challenges in Corporate Governance
Corporate governance challenges continue to be a highly popular topic of research at law schools around the country. The growing public and scholarly interest in this topic has resulted in a corresponding rise in articles published on the subject. Some of the most common and relevant issues examined in these papers include:
Board Diversity Many law review articles discuss the issue of diversity in corporate boardrooms and maintain that diversity is not only an important part of increasing board performance, but is also essential for the advancement of women and people of color. The authors of these articles often maintain that the appointment of women and people of color to corporate boards is necessary to guarantee that these demographic groups have opportunities in other sectors of the corporate world, such as executive officer and partner positions. Many articles propose the implementation of quotas for women and people of color on boards as well as in top corporate management positions. Another area of focus in the board diversity literature is the relationship between the diversity of boards and their performance. Studies have shown that diverse boards perform better than their homogenous counterparts. Legal scholars who have investigated the connection between diversity and board performance point to studies that show that companies controlled by board members who are women or people of color have consistently outperformed their competitors. Diversity, it is argued, leads to better decision-making and therefore more successful corporate performance.
Executive Compensation The compensation of corporate executives and common stock performance are frequently analyzed in academic articles. Several studies have found a link between executive pay and company performance, and the scholarly literature has explored the relationship between executive compensation and firm value in depth. Stakeholders continue to show a strong interest in issues related to executive compensation, and this topic has accordingly generated a large amount of substantive scholarship.
Shareholder Rights The shareholder litigation arena is rife with opportunities for legal scholarship. Some focus on the various types of litigation that shareholders bring against the boards and management of companies and on the resolution of suits through negotiated settlements or payment of fees. Others examine the changing dynamics of the litigation process itself and the impact of litigation on corporations in which plaintiffs are denied standing or any real chance at recovery. This is an area of research that continues to spawn a large number of articles and books from law schools across the country. The breadth of these issues allows law students interested in corporate governance to choose research topics relevant to their specific areas of interest. There are virtually limitless options when it comes to narrowing down the large issue of corporate governance into research papers.
Business and Intellectual Property
Intellectual property issues are a major concern to almost all businesses, at all times. However, businesses have their hands full with combining intangible assets and intellectual property into a proper tax structure. Tax implications are one of the most important areas of concern for companies attempting to secure their intellectual property in an effective manner. When you start breaking down intangible assets into different types of intellectual property, things can become rather technical, so be sure that the tax implications are built into the heart of your intellectual property structure.
Patents: Patents are a huge concern for most businesses, whether you are an invention company and are holding a patent, or a manufacturer that is being sued by a firm for patent infringement. For large corporations, patents are a way to make money. Patent portfolios can establish a huge advantage to improper companies in the market. However, for small and medium-sized businesses, patents may not be worth the investment. As a result, it is important for companies to determine what the appropriate strategy for protecting intellectual property will be. Understanding the pros and cons of securing trademarks and getting patents is a fundamental part of developing a successful business strategy. As always, it is important to get advice from a professional who knows what they are talking about.
Trademarks: Trademarks can mean the world to your business. Protecting them properly is critical. However, securing a trademark can be a hassle and a huge inconvenience. Your business is constantly growing and changing, your logo may change or the name of your businesses could change, all of these issues can delay or even prevent you from registering a trademark. Still, businesses know that building a powerful brand is a necessity for them. In all circumstances, businesses need to spend time developing a branding strategy that makes sense for them. You need to determine where the limitations are and if the benefits will outweigh the challenges ahead.
Copyright: Copyright issues can be complicated, and they affect almost every business. Copyright law is very strong inside the United States and it is typically a thorn in the side of almost every company. For example, copyright infringements involve piracy which has been a serious issue in the United States for a number of years. Of course, there are also many businesses that would love to pirate material from larger companies, without concern for proper attribution. With the move toward significant technological advancements, copyright is becoming an even bigger issue. Many larger firms are now seeking to enforce copyright laws against smaller startup businesses.
Contract Law and Commercial Transactions
Contract law is fundamental to the formation and operation of a business. It underpins all business transactions and protects the rights of parties involved. A contract creates a legal obligation, which can be enforced when one party fails to meet its obligations. This can occur through a breach of the contract or a failure to enforceable the contract.
Several complications can arise that lead to a breach of contract and enforcement issues. For example, suppose a partner in a business conducts unethical business practices, such as signing an agreement to receive a kickback from a supplier for steering contracts their way. In that scenario, the contract may be binding, but the business owner might want to protect the company and itself by excusing that partner out of the contract based on the unethical behavior. In that case, the business owner would need to terminate the contract with the partner to avoid further damage. Further similar legal issues might arise if the partner has received a kickback but was not supposed to, or the partner is withholding some of the profits into his or her own personal account instead of the company account, or the partner has taken actions to harm the business rather than help it. In each of those situations, a breach of contract and enforcement issues would exist.
There are several legal issues tied specifically to the validity or enforcement of contracts. Typically, a person should be of sound mind, making their own decisions voluntarily without duress, when signing a contract for it to be valid. If any of those conditions do not apply to a contract, it could be declared invalid as a contract (as opposed to a tort or some other type of obligation). The issue could also be that one party cannot meet the conditions of the contract, or it would be an unfair contract. In cases like this, the party that is wronged by breach of contract may choose to take the other party to court to seek damages.
Business and Employment Law
Employment law and workplace regulations are important areas of research, as they impact how businesses hire, manage, and compensate their workers. For law students considering papers like these, pertinent topics include worker’s rights, workplace discrimination, labor relations and economic pressures, workers’ compensation, and the costs of non-compliance.
Laws regarding workers’ rights are constantly evolving, and local, state, and federal laws all affect the employment climate. Workers’ rights laws affect how much employees must be paid, how they should be paid, how they get paid for overtime (or whether they do at all), and whether an employer can fire them without just cause. At present, there is a great deal of confusion on many of these issues, which is why they make a good area of research for law students. They might help untangle how workers’ rights are enforced across jurisdictions. Discrimination in the workplace is another area of law that is both rapidly-evolving and potentially very different from state to state. Some of the prominent questions related to workplace discrimination include whether sexual orientation or gender identity are protected categories, what constitutes hostile work environment and sexual harassment, or what can be defined as discrimination per se. Discrimination can also be a problem with the hiring process itself, and how workplace discrimination might be addressed in an era of electronic data-gathering and data-analysis. Labor relations and how economic forces interact with those relations, is another area of employment law that can be ripe for exploration. The National Labor Relations Board has been active in dealing with potential labor peace issues, and has issued controversial rulings in areas like micro-unionization, and at the intersection of labor relations and the "gig economy." For law students interested in this area, looking at issues related to taxes and Pickering rights might make for a fascinating study. Are taxes levied on certain types of union organizing efforts justifiable? What can a public employee do if they believe that their speech will be retaliated against? The law in these areas are still developing, so they’re a good start for a research paper project.
Impact of Environmental Laws
From the 1970 Clean Air Act and Clean Water Act to the 2008 Energy Independence and Security Act, the U.S. has enacted a plethora of legislation and regulations that are designed to reduce greenhouse gas emissions, limit air and water pollution, and mitigate climate change. That means businesses are forced to comply with a complex web of environmental laws at the federal, state , and local levels while putting in place sustainable industry practices that often require significant investment.
Along with the challenges of complying with complex environmental laws comes the opportunity for research into how businesses best comply with those laws, what strategies are most effective, and what other businesses are doing to be more environmentally-friendly.
Business and Antitrust Law
Antitrust Laws exist to promote a competitive business environment in which your business may compete. This area of business law restricts practices that typically harm consumers, such as monopolies and cartels. By dividing up the market without competition, consumers are forced to pay higher prices than they might if there were healthy competition.
Government agencies enforce antitrust law when it comes to business mergers and acquisitions. When two or more companies merge, one may have to be divested in order to allow the company to survive on its own. This is frequently the case because the anti-competitive practices that stem from a merger will restrict the normal flow of commerce and create unfair domination over the available market for goods and services. A savvy business law attorney can help you navigate the legal waters around government antitrust requirements with your merger.
Protection of the Consumer and Business Liability
Consumer protection is an essential element of America’s democratic society and free market-based economy. Today, such protections are nationwide in scope and you have received benefit from these laws every time you made a purchase or paid a bill; avoided the costs of property taxes on your home due to certain exemptions; got a discount because of your age, education, sex, or military status; bought a used car, etc. Consumer protection laws have been enacted by Congress, state legislatures, and various administrative agencies in order to protect consumers from unfair or deceptive business practice. Without such laws some businesses would exploit consumer vulnerabilities and unfairly profit at the expense of individuals.
Consumer protection laws are broad in scope. State and federal laws prohibit false or misleading advertising, fraudulent collection practices, and misrepresentation in the sale of merchandise. A common aspect of consumer protection laws is a prohibition against unfair competition. For example, the Federal Trade Commission Act prohibits "unfair methods of competition" and "unfair or deceptive acts or practices." Another example, federal and state unfair competition laws prevent the distribution (e.g., sale, lease, or licensing) of a product or service by a business in order to provide short term gains to one business over others doing business in similar ways.
Businesses are also protected from opportunistic consumers under these laws. For example, some laws require that claims be filed within certain time limits. One example is the statute of limitations that prevents a consumer from filing a claim after the claim period expires. Federal bankruptcy law is another example. This law protects the honest but unfortunate member of society by providing experiencing economic difficulties with a "fresh start". However, this law also does not give consumers a "get out of jail free" card. Certain debts (e.g., child support, income taxes, student loan debts, etc.) cannot be eliminated in bankruptcy.
Global Business and International Trade
While many have written about the different legal aspects that one may find in international trade, global business activities bring their own challenges. Issues can arise as to when a business activity is characterized as "international" and how to characterize the cross-border activity. In addition, individuals engaged in cross-border business activities may have not only federal tax obligations but also have state tax issues on which they must report.
Consider the following questions posed by international trade and cross-border business: Trade agreements and tariffs can play a significant role in how a court would decide the issue of jurisdiction for individuals or businesses engaged in activities in multiple countries. Trade agreements can result in dispute resolution process without resorting to litigation. As a result , it is generally in the best interests of companies to be informed about specific dispute resolution provisions. Classifying disputes under foreign law can also complicate if such a suit proceeds in the United States with regard to the applicable statute of limitations for a claim and jurisdiction over the participant.
Whether it is a Canadian company having an obligation to a person in the U.S. or vice versa, North American Free Trade Agreement (NAFTA) or United States-Mexico-Canada Agreement (USMCA) can affect a participant’s obligations. It is important to keep up with international tax treaties, whether they are one of the 800+ bilateral agreements or one of the three multi-lateral conventions: the OECD Model Agreement, the UN Model Agreement, or the Council of Europe/EC Model Agreement.