ABA Section of Business Law

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Business Law Today

Volume 6 Number 2
November/December, 1996 Issue

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REGULATION FOR A NEW WORLD: AN SEC COMMISSIONER TALKS ABOUT CAPITAL FORMATION IN THE AGE OF THE INTERNET
By Steven M.H. Wallman
A member of the Securities and Exchange Commission discusses how the agency will try to continue protecting investors in a world of vast technological change. How can prospectuses be policed when they are placed on a Web site for the world to see? The author calls for re-evaluation and suggests a few changes in regulations.

WHEN ASSETS BECOME SECURITIES: THE ABC'S OF ASSET SECURITIZATION
By Lynn A. Soukup
The author lays out what is involved in "asset securitization," an interest in a pool of assets that the lender sees as the source of cash flow for repayment.

DOING THE DEAL OVERSEAS: HOW TO STRUCTURE INTERNATIONAL PROJECT FINANCING
By John I. Forry How should an international project be financed? Author discusses the options the the tax consequences.

RIDING HERD ON THE MUNI MARKET: THE DEPUTY DIRECTOR OF THE SEC'S OFFICE OF MUNICIPAL SECURITIES SPEAKS OUT
By Susan M. Golden
The author, the deputy director of the SEC's Office of Municipal Securities, outlines what roles the SEC and her office perform in regulating the municipal securities market. She also discusses recent initiatives in the field.

WHEN THE LENDER CALLS THE TUNE: THE INEVITABLE TENSION OF FINANCIAL COVENANTS
By Arthur S. Kaufman, Thomas P. Vartanian and Diana Jarvis
The authors discuss five types of financial covenants: financial ratios, restrictions on additional debt, change in control or event-risk provisions, restrictions on dividends and distributions and restrictions on mergers and asset sales.

THE IN-BETWEENER: VENTURE-CAPITAL LAWYERS PAIR INVESTORS WITH ENTREPRENEURS
By Terry Woolsey
The author talks to a number of venture-capital lawyers to see what they do and what difference they make. They make things happen between the entrepreneur wth the bright idea -- called a "founder" -- and the investor. The investor doesn't charge interest, but looks for a piece of the company.

SO . . . HOW YA DOIN'?: BUSINESS LAWYERS TALK ABOUT THEIR CAREER EXPECTATIONS AND REALITIES
By Kimberly Sanchez
The author interviews a broad range of business lawyers to see how they're doing -- do they enjoy their job? Some do, some don't, and they tell why. It often seems to turn on what kind of expectations they had early on.

OUT OF SIGHT, OUT OF MIND?: THE LEGAL ISSUES IN TELECOMMUTING FOR YOUR BUSINESS CLIENT
By Helene R. Stewart As working at home becomes more common, what are the issues for the employee's employer? The author examines matters that business lawyers should watch for their business clients, from discrimination (who gets to stay home?) to a safe workplace to taxes.

A CLAUSE YOU DON'T WANT TO OVERLOOK: THE SUPREME COURT ENFORCES ARBITRATION IN COMMERCIAL CONTRACTS
By Kay O. Wilburn
Like it or not, arbitration is here. Two recent Supreme Court cases enforce arbitration provisions in business contracts. The author discusses the cases and outlines how arbitration can affect your clients.