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Securing U.S. Strategic Assets: Does The Exon-Florio Statute Do Its Job?
When it was announced in early 2006 that Dubai Ports World, a company controlled by the Government of Dubai, planned to acquire six major U.S. ports and had successfully undergone the U.S. government's national security review of the transaction, concerns about foreign ownership of U.S. assets intensified dramatically. A new wave of criticism arose, revitalizing arguments that had temporarily subsided when the China National Offshore Oil Corporation (CNOOC) (a Chinese Government-controlled company) withdrew its bid to acquire California-based Unocal Corporation in the summer of 2005. Now, it appears that there is great momentum behind proposals to adopt new means to prevent ' or at least to screen ' such proposed acquisitions by foreign companies, particularly foreign government-owned companies.
Specifically, both the Dubai Ports World and CNOOC incidents have prompted a variety of proposals to strengthen the President's authority to prohibit or suspend foreign acquisitions of U.S. companies that might threaten U.S. national security. The President currently enjoys such authority pursuant to the so-called Exon-Florio statute, which was enacted as an amendment to the Defense Production Act of 1950.
As revealed at a series of recent congressional hearings, a number of prominent members of Congress believe Exon-Florio is an underutilized tool that could and should be strengthened and sharpened. At issue is not only the scope of the statute itself, but also its implementation by the Committee on Foreign Investment in the United States (CFIUS), an interagency body charged with reviewing proposed foreign acquisitions of U.S. companies and recommending to the President whether the transactions should be prohibited or suspended. Some Members of Congress believe CFIUS has not been sufficiently aggressive in protecting national security, that its deliberations are too opaque and too narrowly focused, and that Congress should have more information about, and more control over, the committee. Will their criticisms lead to congressional scrutiny of individual foreign company bids for U.S. companies, above and beyond CFIUS reviews?
Yachts, Jets, Horses & Hooch: Specialized Commercial Leasing Models
Defining commercial real estate asset class is essentially a property explaining how it identifies — not necessarily what its original intention was or what others think it ought to be. This article discusses, from a general issue-spot and contextual analysis perspective, how lawyers ought to think about specialized leasing formats and the regulatory backdrops that may inform what the documentation needs to contain for compliance purposes.
Hyperlinked Documents: The Latest e-Discovery Challenge
As courts and discovery experts debate whether hyperlinked content should be treated the same as traditional attachments, legal practitioners are grappling with the technical and legal complexities of collecting, analyzing and reviewing these documents in real-world cases.
Identifying Your Practice's Differentiator
How to Convey Your Merits In a Way That Earns Trust, Clients and Distinctions Just as no two individuals have the exact same face, no two lawyers practice in their respective fields or serve clients in the exact same way. Think of this as a "Unique Value Proposition." Internal consideration about what you uniquely bring to your clients, colleagues, firm and industry can provide untold benefits for your law practice.
Risks and Ad Fraud Protection In Digital Advertising
The ever-evolving digital marketing landscape, coupled with the industry-wide adoption of programmatic advertising, poses a significant threat to the effectiveness and integrity of digital advertising campaigns. This article explores various risks to digital advertising from pixel stuffing and ad stacking to domain spoofing and bots. It will also explore what should be done to ensure ad fraud protection and improve effectiveness.
Turning Business Development Plans Into Reality
This article offers practical insights and best practices to navigate the path from roadmap to rainmaking, ensuring your business development efforts are not just sporadic bursts of activity, but an integrated part of your daily success.