The decision to create a Minister for Artificial Intelligence sends an unmistakable signal that the Carney government recognizes the need to prioritize AI as a core part of its economic strategy. My Globe and Mail op-ed notes that while few doubt the importance of AI, what the federal government should do about it is far less
Law School Blogs
How Corporate Law Can Protect Companies and Shareholders from Politically Motivated Directors
By Brian McCall
In a new article, I examine the history of the Walt Disney Company as a case study of what I perceive to be a gap in the law of fiduciary duties of corporate directors and executives. Based on publicly available filings and records, public statements of Disney directors and employees, and other sources, I argue…
Covington & Burling Discusses Three Political Law Landmines for Hedge Funds, Private Equity Funds, and Investment Firms
Last year, an asset manager with offices in New York, Texas, and Vermont was publicly censured by the Securities and Exchange Commission and ordered to pay a substantial fine. Its offense? The asset manager hired an individual who had previously made a personal political donation to the campaign of a state official who appointed members…
How the EU Sustainability Mandate’s Impact on U.S. Companies Is Evolving
In a recent paper, we examine how the EU Corporate Sustainability Due Diligence Directive (CS3D) could reshape the behavior of American corporations. The CS3D holds large corporations legally accountable for how they protect human rights and the environment throughout their value chains. The directive thus represents a significant shift in the approach to corporate…
Sullivan & Cromwell Discusses Executive Order Limiting Criminal Enforcement of Civil Regulations
On May 9, 2025, President Trump issued an Executive Order that purports to reduce regulatory burdens and ensure that “no American is transformed into a criminal for violating a regulation they have no reason to know exists.” The Executive Order sets forth a policy disfavoring criminal enforcement of regulatory offenses except in circumstances where persons…
Alternative Business Structures in the U.S.: What We Know and What We Still Need to Learn
As we approach the five-year mark of alternative business structures—legal service entities that allow people who are not lawyers to have an ownership or decision-making interest in the company—in the United States, over 100 entities have launched in Arizona and Utah. This article reflects on what we know, what we still need to learn, and…
IAALS Launches Groundbreaking Multi-State Study on Legal Licensure Reform
IAALS, the Institute for the Advancement of the American Legal System, is proud to announce the launch of Pathways to Legal Licensure: Individualized & Comparative Outcomes, a landmark empirical study examining multiple approaches to attorney licensure across the United States. Supported by AccessLex Institute®, the project seeks to assess how different licensure pathways measure…
Leaving Delaware? The Hidden Promise of Specialized Corporate Courts
By Zohar Goshen & Tomer Stein
After the Delaware Court of Chancery invalidated Elon Musk’s $56 billion compensation package, Tesla made headlines by moving its incorporation from Delaware—the longtime gold standard for incorporation—to Texas. Following Tesla’s reincorporation, Texas moved to strengthen its newly created business court. In rapid response, the Delaware legislature enacted the most significant overhaul of its corporate code…
SEC Chair Speaks on Tokenization at Crypto Task Force Roundtable
The topic of this afternoon’s discussion is timely as securities are increasingly migrating from traditional (or “off-chain”) databases to blockchain-based (or “on-chain”) ledger systems.[1]
This movement of securities from off-chain to on-chain systems is akin to the transition of audio recordings from analog vinyl records to cassette tapes to digital software decades ago. The…
A Legacy of Vision and Impact: Honoring the Gates Frontiers Fund
On April 23, IAALS gathered with longtime partners, colleagues, and friends to honor the Gates Frontiers Fund, whose early belief in our mission helped bring IAALS to life. As our founding donor—with the visionary generosity of Charles C. Gates and Diane Gates Wallach—they have played a foundational role in making IAALS what it is today.From…