Lecture Series

BCLBE Russian Market Conference: The Innovation Aspect

In a follow up to a previous post, an interesting aspect of the “Russian Market: Legal and Business Perspectives” symposium was the panelists’ discussion of Russia’s treatment of domestic and foreign businesses—and argument that it is a large stop sign for many investors.  Consequently, the oil-focused government has for years ignored one of its chief assets—the country’s young science and technology innovators.  Educated in traditionally math-heavy state schools and inspired by the successes of Sergey Brin and Arkady Volozh, they too are ready to innovate.  This undervalued science and technology talent has attracted many Indian and Chinese investors to explore Russia, and these investments have proven to be lucrative.

The panelists agreed that Russian entrepreneurs tend to generate highly original proposals.  “Russians don’t usually pitch yet another social network idea,” observed Stephanie Marrus, Director of the Entrepreneurship Center at UCSF.  Building on her comment, Axel Tillman, CEO of RVC-USA, shared an example of how a small team of Russian engineers, within days, developed a commercially-viable way of avoiding a costly energy distribution inefficiency in the elevator industry, which many others thought permanent and inevitable.

The panelists also discussed how Russian entrepreneurs tend to have a can-do attitude and a strong confidence in their own ability to overcome obstacles to innovation.  While valuable in many respects, these tendencies, if unchecked, can result in delays and frustrations even for entrepreneurs themselves, as they attempt to accomplish unfamiliar business tasks on their own, often without consulting an expert even when one is available.  The resulting delays can be highly damaging for the outlook of a business, both in the short- and long-term future.

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The Network Lecture Series: The Optimal Corporate Bailout – A Presentation by Professor Eric Talley

By Joseph Santiesteban, J.D. Candidate 2013, U.C. Berkeley School of Law, with contribution by Professor Eric Talley, Rosalinde and Arthur Gilbert Professor of Law; Director, the Berkeley Center for Law, Business, and the Economy

Introduction

In 2008-09, when the government spent $350 billion dollars bailing out corporations that it deemed systemically important, it confronted several issues. First, which companies should be bailed out? Second, what should the terms of the bailout be? And third, how should the program be funded. On March 20th at Berkeley Law’s weekly Law and Economics Workshop, Berkeley Law Professor Talley Eric Talley presented “A Model of Optimal Corporate Bailouts,” a paper he co-authored with UCLA Business School Professors Antonio Bernardo and Ivo Welch, which attempts to confront these issues with a theoretical model and compare their results to the Troubled Asset Relief Program (TARP).

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The Network Lecture Series: Professor Nicholas C. Howson’s Insider Trading and China’s Administrative Law Crisis

Information is relevant to many exchanges. Those familiar with capital markets will appreciate the important role that information plays in capital trading. Securities regulators across the globe attempt to regulate the flow of information in markets to ensure efficiency and protect the interests of reasonable investors.

Prof. Nicholas Howson made a very interesting presentation regarding the nuances of Securities Law of the People’s Republic of China, 2006 (‘2006 Statute’) last Wednesday as a part of BCLBE’s lunch lecture series. His presentation addressed three broad subjects: 1) Section IV of the 2006 Statute concerning insider trading; 2) enforcement issues presented by the internal guidance issued under Article 74; and 3) general comments on the creation and reception of law in China.

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The Network Lecture Series: Carl E. Walter’s Do China’s Stock Markets Matter?

On November 1st, 2011, Carl E. Walter delivered a lecture titled “Do China’s Stock Markets Matter?” at the U.C. Berkeley School of Law. The lecture addressed the role and significance of stock markets in China, and described the influence of western legal, accounting and financial concepts on the Chinese economic landscape.

Mr. Walter was one of the first students to go to China when the border opened in 1979. He has spent a large part of his career working in the financial sector in China and is a co-author of “Red Capitalism: The Fragile Financial Foundation of China’s Extraordinary Rise”. After living in China for 20 years, Mr. Walters recently returned to the U.S.

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The Network Lecture Series: Nathan Bush’s Corruption and Fraud in China Part II

On August 29th, 2011, Nathan Bush, Partner at O’Melveny & Myers, Beijing, delivered a lecture titled “Corruption & Fraud in Contemporary China: Challenges for U.S. Companies & Investors.” Mr. Bush’s lecture addressed two equally important questions:

(1) What pressures do U.S. companies face when operating in China, and

(2) What challenges do Chinese companies face when listing on American stock exchanges?

In answering the first of these queries, Mr. Bush took the lecture attendees through a brief history of Chinese political and social culture, Chinese anti-bribery laws, the Foreign Corrupt Practices Act, Dodd-Frank’s strengthened whistleblower protections, and the U.K. Bribery Act. In tackling the second question, Mr. Bush focused on reverse- takeover mergers of shell U.S. companies listed on American stock exchanges by Chinese companies and the recent intensification of investigations into those companies’ dealings.

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The Network Lecture Series: Nathan Bush’s Corruption and Fraud in China Part I

On August 29th, 2011, Nathan Bush, Partner at O’Melveny & Myers, Beijing, delivered a lecture titled “Corruption & Fraud in Contemporary China: Challenges for U.S. Companies & Investors.” Mr. Bush’s lecture addressed two equally important questions:

(1) What pressures do U.S. companies face when operating in China, and

(2) What challenges do Chinese companies face when listing on American stock exchanges?

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