Here are the top three stories from last week in regards to contracts.
Curious where contracts find their way into the news? We gathered the top three articles from the past week that address what’s happening in the world of contracts.
The first article covers the evolving social contract and how it relates to written law—the contract between the people and the state.
As technology becomes more pervasive throughout culture, lawmakers now have to consider how to include it into legislation. New Jersey took initiative by incorporating cyber-bullying into their Anti-Bullying Bill of Rights Act. In 2014, 14.8 percent of students reported being cyber-bullied, a number that is only projected to go up as online communication tools are used by younger and younger children every year. While cyber-bullying can be a challenging topic to address because of law enforcement’s hesitation to take action unless more serious threats are made, this bill takes the first step in moving to end bullying both in person and in technology.
The fast pace of business in the world today results in the need for new tools that provide improvements, and with those improvements, new regulations. IEEE, an organization that focuses on advancing technology for humanity, is now beginning to outline techno-legal standards for smart contracts. This project is done in collaboration with the Accord Project, who’s seeking wider acceptance of smart contracts.
Broadcom is trying to buy its competitor Qualcomm for $146 billion, in what would make them the world’s third-largest chipmaker. But in addition to resistance from Qualcomm, existing sales contracts are putting a wrinkle in the process for regulators.
Qualcomm has employed unique pricing policies and contract clauses, including owning the intellectual property of its clients (larger corporations such as Apple are suing it for abuse of market power), and has continually paid astronomical fines. Broadcom’s CEO, Hock Tan, has stated that Qualcomm’s business model needs revising and that he would alter the current pricing policy that goes against antitrust regulators’ beliefs. Doing so may be difficult, however, as a large portion of Qualcomm’s profits come from the licensing fees.
Stay tuned for next week’s edition as we continue to find the most current ways that contracts interact with today’s business, technology, and entertainment. Find something interesting before then? Share it with us on Twitter at @ConcordNow!