From the Editorial Board

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Investors are entitled to assume that issuers comply with regulatory disclosure requirements and have therefore purchased or sold a security at a price expected to have been set without being affected by untrue statements or omissions. That is, investor reliance should be presumed in a regulated market in which the issuer statements in SEC filings are truthful and at least not seriously misleading. This article argues that the source of reliance lies in the credibility of the regulators committed to promoting market integrity and investor protection. In this regard, the basic presumption per se remains valid but needs some revision. Furthermore, in assessing claims of causation of loss and damages, it should be taken into account whether any significant price distortion occurred at the precise moment when defrauded investors made investment decisions, not at a later date. Such ex-ante analysis is theoretically sound and consistent with legislative intent.
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Theories of Causal Nexus in Rule 10b-5 Claims: A Critical Reassessment

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The Indian insolvency regime has undergone a historic change with the introduction of the Insolvency and Bankruptcy Code, 2016. This paper empirically analyses the effectiveness of the Code in the Indian economy. The paper also studies the insolvency frameworks that existed in India, the distinguishing features, and the legal framework of the Code. The analysis of the current status of the Indian insolvency regime with time series and cross-sectional data clarifies the non-performing assets trajectory, recovery rates, and time required under different recovery mechanisms, a summary of cases under the new Code and the status of India in the international insolvency systems. The empirical evidence of this study suggests that the Code is an improvement over its predecessors in terms of recovery rates, resolution of non-performing assets, and resolution costs. The Code should be subjected to necessary improvements to evolve and become a foolproof mechanism. Suggestions to that effect are offered in the final section.
</abstract>

Department of Statistics and Information Management

On the Effectiveness of Insolvency and Bankruptcy Code, 2016: Empirical Evidence From India

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This paper concerns mechanisms for the protection of utility models in Poland. These mechanisms are at present on the verge of substantial change as a new draft regulation was opened for public consultation in 2022. Select results of analyses of the utility model applications filed in the years 2001–2020 were reported. The analyses concerned possible routes for filing utility model applications in Poland, the most popular fields in which utility model protection is used, and the origins of utility models protected in Poland by the country of residence of the first applicant. It has been noted that a key strength of the utility models is the criteria granting exclusive rights. In terms of the advantages related to disclosure, the state-of-the-art protected utility model needs only to be novel; there is no requirement concerning the inventive step. This makes the assessment of validity relatively reliable and significantly reduces the risk that the enforced right of protection will be invalidated. This strength will likely be preserved in the review of the draft regulation that is about to abolish substantial examination and replace it with a registration system. The change is supposed to reduce the time of prosecution, thus making the conversion from refused/withdrawn European patent applications to Polish utility models more attractive.
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Protection of Utility Models in Poland: A Brief History and Perspective for the Future

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Law and Business

 Law and Business is a peer-reviewed, fully open access online journal, that publishes research papers, reviews and news on a broad range of business law topics, including corporate governance, securities regulation, market regulation, employment law, the law of mergers and acquisitions, economics, international trade, law and new technologies, ADR law, environmental protection, issues of business ethics and socially involved business.  Our mission is to make scholarly contribution to all areas of law that impact business theory and practice. In particular, we want to promote legal concepts and solutions supporting the development of business based on social dialogue and responsible cooperation of partners in economic relations, in accordance with the principles of corporate social responsibility.  We are confident that Law and Business will become an essential resource for students and provide a meaningful contribution directly relevant to scholars and practitioners of business law and an inspiration for further research and scientific discussions.  Academics, judges, and practicing lawyers are invited to submit research papers, studies or comments that correspond to the journal's profile.  Archiving  Sciendo archives the contents of this journal in Portico - digital long-term preservation service of scholarly books, journals and collections.  Plagiarism Policy  The editorial board is participating in a growing community of Similarity Check System's users in order to ensure that the content published is original and trustworthy. Similarity Check is a medium that allows for comprehensive manuscripts screening, aimed to eliminate plagiarism and provide a high standard and quality peer-review process. 

Law and Business

Volume 2 (2022): Issue 1 (January 2022)

Research Article

From the Editorial Board

Theories of Causal Nexus in Rule 10b-5 Claims: A Critical Reassessment

On the Effectiveness of Insolvency and Bankruptcy Code, 2016: Empirical Evidence From India

Protection of Utility Models in Poland: A Brief History and Perspective for the Future

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