Why does Delaware continue to dominate the market for incorporations even though recent research has shown that the quality of Delaware corporate law has declined substantially? We focus on the rational ignorance of lawyers and investors. Using the results of our survey of lawyers involved in...

This LLM research project analyses four topics from the work of derivatives and structured products lawyers. The first topic is the interpretation of standard industry documentation, taking the example of Market Quotation and Loss definitions in 1992 ISDA Master Agreement. The second topic is...

The undertraining of law students documented in a century's worth of critiques of legal education, most recently by the Carnegie Foundation, has different and much more detrimental consequences for the post-J.D. careers of women and minority attorneys. However, studies of their early careers...

The Dodd-Frank financial reform legislation creates an “Orderly Liquidation Authority” (OLA) that shares many features in common with the Bankruptcy Code. This is easy to overlook because the legislation uses a language and employs a decision-maker (both borrowed from bank regulation) that...

On 15 May 1996, the Standing Committee of the National People's Congress enacted the first legislation specifically tailored for lawyers within the PRC, entitled the Law on Lawyers of the PRC (the Law). It will come into effect on the 1 January 1997 and replaces the outdatedInterim Regulations...

The new system of access to the Bar that is about to be implemented in Spain requires a mandatory period of 6 to 12 months (30 ECTS credits) of in-job training for law students willing to sit in the Bar exam. The provisions in the relevant Law and regulations leave substantial freedom to...

We study the sources of match-specific value at large American law firms by analyzing how graduates of law schools group into law firms. We measure the degree to which lawyers from certain schools concentrate within firms and then analyze how this agglomeration can be explained by "natural...

This study is about hierarchy within the legal profession – how it presents itself, how it is retained, and how it is combated. The socio-legal literature on this subject is rich, with many roots tracing back to Professor Marc Galanter's famous early 1970s article on the ‘Haves' and...

The literature on the lawyers of films and television has focused on one segment of the legal profession - litigators. But in a few shining instances, tax lawyers have had their turn on movie and television screens. Those rare moments reveal much about the place of tax law and tax lawyers in...