Regulators seem content to try to engage in a tit-for-tat of disjointed extraterritorial regulatory efforts.
The Global Intellectual Property Center (GIPC) is very excited to announce the launch of The Innovation Lifecycle —a comprehensive, interactive multimedia platform that explores the importance of intellectual property (IP) in some of America’s most creative sectors.
The Innovation Lifecycle id
Earlier this month, former S.E.C Chairman Arthur Levitt published an Op-Ed piece in The New York Times, entitled “Don’t Gut the S.E.C.” Mr. Levitt sees only two approaches to regulatory reform when it comes to his former agency: on the one hand, retaining the status quo, or, on the other hand, in
By David Hirschmann
Earlier today, the U.S. Chamber of Commerce’s Global Intellectual Property Center proudly stood shoulder to shoulder with leaders of the House and Senate Judiciary Committees from both major parties and labor representatives at a press conference highlighting the problem of rogu
With March Madness upon us, let’s talk a little basketball. After dominating Olympic basketball for decades, America was stunned in 1988 when the USA Basketball team played poorly, lost to the Soviet Union and sank to a bronze. Recognizing the increased competition, in 1992 the United States field
The U.S. Chamber of Commerce’s Global Intellectual Property Center applauds the House Subcommittee on Intellectual Property, Competition and the Internet for holding a hearing today on "Promoting Investment and Protecting Commerce Online: Legitimate Sites v. Parasites, Part I."
Last month, a bro
Earlier today, I had the privilege of participating in the White House Forum on Intellectual Property Theft with senior Administration officials including: Attorney General Eric Holder, Secretary of Homeland Security Janet Napolitano, Director of the Immigration and Customs Enforcement John Morton,
The U.S. Chamber of Commerce and Business Roundtable today filed a legal challenge to the Securities and Exchange Commission’s (SEC) final rules requiring a corporation to include in its proxy materials director nominees put forward by a shareholder (or group of shareholders) who have owned three p
Today Victoria Espinel, the Obama administration's U.S. Intellectual Property Enforcement Coordinator delivered the White House's National Intellectual Property (IP) Enforcement Strategy to Congress. In doing so the United States government took a historic and very meaningful step towards fighting
Small business owners, local chambers, and citizens have sent more than 200,000 letters Congress expressing their strong opposition to the proposed Consumer Financial Protection Agency (CFPA)The letters, written by citizens from all 50 states, oppose the CFPA approach and call for a better way to st
So far the debate has been around the BEST way to achieve regulatory reform….
…how to bring transparency to derivatives markets…how to protect consumers…how to address systemic risk and “too big to fail”…how to improve the effectiveness of regulators and regulation
But, more recently, there is gr
Today the President will speak about the proposed Consumer Financial Protection Agency; and while the Chamber strongly agrees with the President that consumers need more effective protections, we disagree about the best approach to achieving this goal.
We should certainly strengthen enforcement aga
The Chamber continues to support strong consumer protections and comprehensive modernization of our financial regulatory system. While we appreciate the House Financial Services Committee's work to address concerns with its original proposal, the latest draft of the legislation fails to resolve the
The Chamber has called for comprehensive reform of our capital markets regulatory structure since well before the current crisis. Our regulatory structure is 75 years outdated, and in order to ensure the capital formation necessary to spur long term economic growth and job creation, we need a comp
by James Sneeringer
Tomorrow the Obama administration will release their plan for reforming the regulation and supervision of U.S. capital markets. We already have a pretty good sense of what will be in there, from ongoing news stories and from the op-ed in the Washington Post earlier this week by
Today, the House Committee on Oversight and Government Reform held a hearing on Bank of America's purchase of Merrill Lynch, with Bank of America's Chief Executive Officer as the sole witness. The purpose of the hearing, as stated by Chairmen Towns and Kucinich, was to learn how "the BofA-Merrill de
There has been, and will continue to be, a lot of debate about whether Indiana's pension funds were right to challenge the way secured creditors were treated in the structured Chrysler-FIAT bankruptcy/merger. At a minimum there should be agreement that there are serious legal questions at stake, as
Ending four days of intense, round-the-clock and high-stakes legal maneuvering in the Supreme Court, the Justices on Tuesday evening without dissent removed a legal obstacle to sale of the troubled auto industry giant, Chrysler.
Insisting that it was denying a postponement "in th
In a March/April edition of AEI’s Financial Services Outlook, Peter Wallison criticized the Chamber for its position on systemic risk, implying the Chamber has abandoned its free market principles. The Chamber has enjoyed a long and productive friendship with Peter; we often agree with, and certai
Every business relies on well functioning and transparent capital markets to grow and thrive. We need to replace our outdated, broken regulatory structure with a more effective, comprehensive, streamlined structure. Today, at our Third Annual Capital Markets Summit (watch online), we are issuing a
A critical component to restoring our nation's economic stability and the health of our capital markets will be the ability of our regulators to provide more effective and predictable oversight. Recent failures in market oversight have highlighted the extreme consequences of ineffective regulation.
James Hamilton breaks down (h/t Administrative Law Prof) President-Elect Obama's six key principles to guide federal financial regulation reform here. Below David Hirshmann discusses our seven principles on the same topic released last Friday. See David's post on the subject, or complete coverage
The cover The Economist this week gives a humorous take on the Rube Goldbergesque nature of the global financial markets.
Unfortunately, as has become all too apparent in the past few months, the situation in the U.S. and around the world is anything but funny. In February 2006 the U.S. Chamber r
As promised, on August 8th the Chamber voiced strong opposition to proposed accounting rule changes that would open the door to lawsuit abuse by trial lawyers and would not provide clear or useful new information to investors.
In a letter to the Financial Accounting Standards Board (FASB), the Cham
For some time, we have been concerned about the viability of the auditing profession in the wake of mounting litigation. Audit firms are partnerships with little, if any, insurance or other sources of financing to pay adverse judgments. All users of financial statements, including both investors an
There is a common theme in anti-Intellectual Property circles that business can't be trusted to provide solutions because it is only interested in "profits". So even though we are strong believers in technological solutions to climate change, I will not use our principles as an example, but rather
The rising influence of proxy advisory firms, particularly RiskMetrics, is a disturbing trend. We have concerns about RiskMetrics because of its history of enabling and promoting the agenda of a minority of special-interest shareholders, the inherent conflicts of interest in its business model, an
As reported by BBC News, Operation Jupiter, an INTERPOL-led investigation targeting transnational counterfeit networks, resulted in 185 new arrests and the seizure of $115 million of illegal goods. This particular effort brought together INTERPOL, police and customs officials, and businesses affec
Two private sector committees created by the President's Working Group on Financial Markets (PWG) released today their separate sets of best practices for hedge fund investors and asset managers.
We applaud the PWG committees for their work. Hedge funds are a growing and vibrant segment of our cap
Barun Mitra had an interesting article in the Des Moines Register yesterday on the false promise of compulsory licensing. Mitra writes:Thailand's health minister recently announced that the nation's state-run drug manufacturer, the Government Pharmaceutical Organization, would continue to violate
I would like to applaud the Department of Treasury for moving the debate forward with their Blueprint for improving the financial regulatory structure of the United States. (Executive Summary available here.)
They are proposing a needed, thoughtful and comprehensive plan to modernize and streamline
Original ideas and innovation are the foundation of every industry and the core of our economic progress. Innovative industries create jobs, spur economic growth, and develop new products that help people and make a real difference in daily life. In the U.S., economists trace 30-40% of all gains
We have seen over the past few years misguided and increasingly misplaced calls for the abandonment of intellectual property protections. As media coverage swirls about the state of the economy a few facts come to mind:
From 2000 to 2004, Intellectual Property (IP) intensive manufacturing produced