1 / 6

Getting from Collective Intelligence to Collective Action

Introduction I. Legal Models II. Legal Threats III. Legal Solutions Conclusion. Getting from Collective Intelligence to Collective Action. by Tom W. Bell Professor, Chapman University School of Law www.tomwbell.com.

jeroen
Download Presentation

Getting from Collective Intelligence to Collective Action

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Introduction I. Legal Models II. Legal Threats III. Legal Solutions Conclusion Getting from Collective Intelligence to Collective Action by Tom W. Bell Professor, Chapman University School of Law www.tomwbell.com Collective Intelligence Foo Camp, Google & O'Reilly Media, the Googleplex, Mountain View, California, February 22-23, 2008

  2. Introduction I. Legal Models II. Legal Threats III. Legal Solutions Conclusion I.A Legal Models: Distinguishing Means

  3. Introduction I. Legal Models II. Legal Threats III. Legal Solutions Conclusion I.B. Legal Models: Distinguishing Ends

  4. Introduction I. Legal Models II. Legal Threats III. Legal Solutions Conclusion II. Legal Threats A. CFTC Regulations 1. Especially if public and if hedging offered. 2. Little threat to in-house PMs. B. SEC Regulations 1. Claims might constitute securities. 2. In-house PMs could facilitate insider trading. a. Liability for employees and employer. b. Notably, play-money offers no cure. C. Anti-Gambling Regulations

  5. Introduction I. Legal Models II. Legal Threats III. Legal Solutions Conclusion III. Legal Solutions A. Go Hedgestreet: CFTC-Regulated Retail Market B. Avoid SEC’s Insider Trading Regulations 1. Management-only market; 2. Window on trading certain claims; or 3. Publicize market results. C. Win Legislative Cover D. Dodge “Gambling” Label 1. Follow PurePlay’s (patented) business model. 2. Keep in-house and require employees to play. 3. Pay independent contractor researchers. . . a. A low commission/trade, plus . . . b. A bonus for correct predictions.

  6. Introduction I. Legal Models II. Legal Threats III. Legal Solutions Conclusion Conclusion How can we clear up the legal uncertainty that currently inhibits real-money PMs, be they public or private, in the U.S.? Set a precedent. Do good works--a quake market, for instance--and seek declaratory judgment. That’s not risk-free, granted, but neither is continuing to suffer collective ignorance.

More Related