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Are 'Smart Contracts' Smart Enough?
The automation of certain attorney functions has given rise to a new form of contracting, known as “smart contracts.” Consequently, a decrease in the demand for certain attorney functions that can now be performed by Internet applications is matched by an increase in demand for legal advisers who can prepare smart contracts and ensure these smart contracts accurately reflect a desired business transaction.
Smart contracts rest on the idea that the code can enforce and execute the terms of the agreement. A smart contract is “self-enforcing” if the software executes the terms without additional input from the parties. The nature of smart contracts achieves the same results as traditional contracting, without the cost of monitoring and enforcement, because it is extremely difficult for users to violate the terms of a smart contract.
The DOJ's New Parameters for Evaluating Corporate Compliance Programs
The parameters set forth in the DOJ's memorandum have implications not only for the government's evaluation of compliance programs in the context of criminal charging decisions, but also for how defense counsel structure their conference-room advocacy seeking declinations or lesser sanctions in both criminal and civil investigations.
The DOJ's Corporate Enforcement Policy: One Year Later
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.
Use of Deferred Prosecution Agreements In White Collar Investigations
This article discusses the practical and policy reasons for the use of DPAs and NPAs in white-collar criminal investigations, and considers the NDAA's new reporting provision and its relationship with other efforts to enhance transparency in DOJ decision-making.
A Lawyer's System for Active Reading
Active reading comprises many daily tasks lawyers engage in, including highlighting, annotating, note taking, comparing and searching texts. It demands more than flipping or turning pages.
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.