Protecting the Public While Fostering Innovation and Entrepreneurship: First Principles for Optimal Regulation

A symposium hosted by the Center for Intellectual Property & Entrepreneurship and the Business, Entrepreneurship & Tax Law Review, with support from the Koch Foundation.

February 8, 2019

 

Overview

In a modern, complex society, governmental restrictions on private conduct, beyond those imposed by the common law, are necessary and appropriate for protecting people and fostering social welfare. Yet, government regulation often stifles innovation and entrepreneurship and is frequently co-opted by incumbent firms to hinder competition that could benefit consumers. What substantive principles should guide policymakers as they craft rules to protect the public? And what institutional structures should constrain the process of regulating?

In this symposium, hosted by the law school’s Center for Intellectual Property & Entrepreneurship and the Business, Entrepreneurship & Tax Law Review, a distinguished group of panelists will consider both substantive principles for regulating effectively in particular areas (e.g., financial markets, telecommunications, prescription drugs, network technologies) and broader procedural questions about how regulations should be crafted.

Location

All events will be held in Hulston Hall on the University of Missouri campus. Convenient parking is located two blocks west of Hulston Hall in Turner Avenue Parking Garage. Directions and detailed parking information are available at law.missouri.edu/about/directions.

Cost and Registration

This event is free and open to the public. Registration is requested but not required. To register, please email mulawbet@missouri.edu.

Continuing Legal Education Credit

This event has been approved for 4.8 hours of CLE credit in Missouri.

Friday, February 8, 2019
8:15 am Continental Breakfast
9:00 am Welcome

Paul J. Litton
Associate Dean and R.B. Price Professor of Law
University of Missouri School of Law

9:15 am
Introduction: The Regulator’s Dilemma
Thomas A. Lambert
Wall Chair in Corporate Law and Governance and Professor of Law
University of Missouri School of Law
10:00 am Break
10:10 am Panel One: Substantive First Principles for Optimal Regulation of Telecommunications, Platform Technologies and Therapeutic Drugs and Devices

Jerry Ellig
Research Professor
Regulatory Studies Center
George Washington University

Erika Lietzan
Associate Professor of Law
University of Missouri School of Law

Justin (Gus) Hurwitz
Associate Professor of Law and Co-Director of the Space, Cyber, and Telecommunications Law Program
University of Nebraska College of Law

11:40 am Lunch (provided)
1:00 pm Keynote Address (via Skype)

Hester M. Peirce
Commissioner
U.S. Securities and Exchange Commission

2:15 pm Panel Two: Procedures for Ensuring Optimal Regulation

Bridget C.E. Dooling
Research Professor
Regulatory Studies Center
George Washington University

J. Kennerly Davis
Senior Attorney
Hunton Andrews Kurth

James Broughel
Senior Research Fellow
Mercatus Center
George Mason University

Justin D. Smith, ’10
Assistant Deputy Attorney General for Special Litigation
Missouri Attorney General’s Office

Speaker Bios

Thomas A. Lambert

Thom Lambert holds the Wall Chair in Corporate Law and Governance and is a professor of law at the University of Missouri School of Law.

Before joining the faculty at the University of Missouri, he practiced law in the Chicago office of Sidley Austin and was a John M. Olin Fellow at Northwestern University School of Law and the Center for the Study of American Business at Washington University.

Professor Lambert’s scholarship focuses on antitrust, corporate and regulatory matters. He is the author of How to Regulate: A Guide for Policymakers and co-author of Antitrust Law: Interpretation and Implementation. He has also authored or co-authored numerous book chapters and more than 20 journal articles in such publications as The Antitrust Bulletin, Boston College Law Review,  Minnesota Law Review, Texas Law Review and Yale Journal on Regulation. He blogs regularly at Truth on the Market, a site focused on academic commentary on antitrust, business and economic legal issues.

Professor Lambert received a bachelor’s degree from Wheaton College. He also holds a law degree from the University of Chicago Law School.


Erika Lietzan

Erika Lietzan is an associate professor of law at the University of Missouri School of Law. Before joining the faculty, she was a partner at Covington & Burling in Washington, D.C., where she handled a wide range of complex legal problems and broader legislative and regulatory policy questions affecting FDA-regulated companies.

Professor Lietzan was involved in every major amendment to the Federal Food, Drug, and Cosmetic Act (FDCA) between 1997 and 2014 and deeply immersed for more than a decade in the development of the Biologics Price Competition and Innovation Act of 2010.  She has held various leadership positions at the Food and Drug Law Institute (FDLI) since 2004

Professor Lietzan received a bachelor’s degree from the University of North Carolina, where she graduated with honors in history.  She holds a master’s degree in history from UCLA and a law degree with high honors from Duke Law School.


Kennerly Davis

Kennerly (Ken) Davis is currently a senior attorney at the firm of Hunton Andrews Kurth in Richmond, Va. His practice focuses on energy law and regulation, the restructuring of the electric utility industry and the continuing development of competitive power markets. Before joining Hunton Andrews Kurth, Davis served as deputy attorney general for Virginia. He also held the positions of vice president of finance and administrative services, treasurer, and corporate secretary for the Virginia Electric and Power Company. In addition, Davis worked for Dominion Resources and Virginia Power as an attorney, operations manager, and officer.

Davis received a bachelor’s degree from Cornell University. He holds a master’s from Pembroke College, Oxford, as well as a law degree from Harvard Law School.


Hester M. Peirce

Hester M. Peirce is currently serving as a commissioner on the U.S. Securities and Exchange Commission (SEC). Prior to joining the SEC, she served as senior research fellow and director of the Financial Markets Working Group (now Program on Financial Regulation) at the Mercatus Center at George Mason University. Commissioner Peirce was also a staff member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs. She earlier worked as an associate at Wilmer, Cutler & Pickering (now WilmerHale) and clerked for Judge Roger Andewelt on the U.S. Court of Federal Claims.

Commissioner Peirce is the author of several publications and has co-edited two books. Her research at the Mercatus Center focused on how financial markets support economic growth and the role well-designed regulation plays in protecting investors and consumers while promoting financial stability and innovation.

Commissioner Peirce received a bachelor’s degree in economics from Case Western Reserve University and a law degree from Yale Law School.


Jerry Ellig

Jerry Ellig is a research professor at The George Washington University Regulatory Studies Center. His research focuses on regulatory impact analysis, regulation of network industries, and performance management in government.

Professor Ellig served as chief economist at the Federal Communications Commission from 2017-2018, as well as a senior research fellow at the Mercatus Center at George Mason University. He served as deputy director and acting director of the Office of Policy Planning at the Federal Trade Commission between August 2001 and August 2003. He has also served as a senior economist for the Joint Economic Committee of the U.S. Congress (1995-1996), as an adjunct professor in the George Mason University School of Law (2005-2008), and an assistant professor of economics at George Mason University (1989-1995).

Professor Ellig has published numerous articles on government regulation and management in both scholarly and popular periodicals, including the Administrative Law Review, Federal Communications Law Journal, Texas Review of Law & Politics, The Wall Street Journal, The New York Times, Barron’s, and The Washington Post. His co-authored/edited books include Government Performance and Results: An Evaluation of GPRA’s First Decade, Dynamic Competition and Public Policy, New Horizons in Natural Gas Deregulation, and Municipal Entrepreneurship and Energy Policy.

Professor Ellig received a bachelor’s degree in economics from Xavier University, and M.A. and Ph.D. degrees in economics from George Mason University.


Justin (Gus) Hurwitz

Justin (Gus) Hurwitz is an associate professor of law at the Nebraska College of Law, where he also serves as the co-director of the Space, Cyber, and Telecommunications Law Program.

Prior to joining the Nebraska faculty, Professor Hurwitz was the inaugural research fellow at the University of Pennsylvania Law School’s Center for Technology, Innovation and Competition (CTIC), and a visiting assistant professor at the Antonin Scalia Law School at George Mason University. From 2007–2010 he was a trial attorney with the U.S. Department of Justice Antitrust Division in the Telecommunications and Media Enforcement Section.

Professor Hurwitz’s work has been published in the Harvard Journal of Law & Technology, Michigan Telecommunications and Technology Law Review, and other law reviews and journals.

He received a bachelor’s degree from St. John’s College, an M.A. in economics from George Mason University, and a law degree from the University of Chicago Law School.


Bridget Dooling

Bridget Dooling is a research professor at the George Washington Regulatory Studies Center in Washington, D.C. She has previously served as deputy chief, senior policy analyst, and attorney for the Office of Information and Regulatory Affairs (OIRA) at the U.S. Office of Management and Budget (OMB). While at OIRA, she also taught a course on regulation at the Antonin Scalia Law School at George Mason University.

Professor Dooling is a regular contributor to the Yale Journal on Regulation‘s Notice & Comment blog. She is a member of the American Bar Association’s Administrative Law and Regulatory Practice. She also actively participates in the Food & Drug Law Institute, having served as vice chair of the editorial board of the Food and Drug Law Journal and now serving on the editorial board of the institute’s bi-monthly Update magazine.

Professor Dooling received a bachelor’s degree from the George Washington University. She also holds a law degree from George Mason University.


Justin Smith

Justin Smith, ’10, currently serves as assistant deputy attorney general for Special Litigation for the State of Missouri. Prior to this position, he was general counsel for the Missouri Department of Agriculture and deputy counsel to the Missouri governor. In the latter position, he led the effort to streamline and modernize the Missouri regulatory code. Before entering public service, Smith handled complex litigation and regulatory compliance as an associate with Shook, Hardy & Bacon LLP in Kansas City, Mo.

Smith received a bachelor’s degree from the University of Missouri-Kansas City and a law degree from the University of Missouri School of Law.


James Broughel

James Broughel is a senior research fellow at the Mercatus Center at George Mason University and an adjunct professor of law at the Antonin Scalia Law School at George Mason University.

Professor Broughel has written numerous policy briefs and reports on regulatory issues. His work has appeared in outlets such as The Washington Post, The Baltimore Sun, U.S. News & World Report, RealClearPolicy, The Hill, and Yahoo Finance. He has been published in scholarly journals, including the Harvard Journal of Law & Public Policy: Federalist Edition and the European Journal of Risk Regulation.

Professor Broughel received a bachelor’s degree, as well as a master’s in economics, from Hunter College of the City University of New York. He also holds a Ph.D. in economics from George Mason University.


 

About the Center for Intellectual Property & Entrepreneurship

The Center for Intellectual Property & Entrepreneurship at the University of Missouri School of Law promotes faculty symposia and scholarship in all areas involving law and innovation, and develops curricular and extracurricular programming to prepare law students to participate in entrepreneurial and innovation communities. The center also supports the law school’s Office of Career Development in identifying externships, summer positions and full-time jobs within the center’s focus area, and collaborates with campus and community members to generate resources that will increase and promote innovation and entrepreneurship. The center’s focus resides not just on intellectual property, business and finance, but on the intersection of science, technology, engineering and math (STEM) issues.

The law school also offers an Entrepreneurship Legal Clinic, which represents early-state businesses and helps guide them past the legal barriers faced by many new ventures.

About the Business, Entrepreneurship & Tax Law Review

The Business, Entrepreneurship & Tax Law Review is a student-edited publication at the University of Missouri School of Law, whose primary purpose is to provide a three-part publication offering and host an annual symposium to cultivate cutting-edge information and legal analysis over a wide range of topics and issues.

The journal’s three-part publication consists of biannual journal issues and frequent white papers and forum posts. Journal issues include articles written by law professors, practicing attorneys, business experts and members of the journal’s staff. White papers are a concise in-depth analysis of a complex legal issue within the scope of business, entrepreneurship or tax matters composed by subject matter experts. Forum posts are short summary pieces highlighting a specific legal or news issue within the scope of business, entrepreneurship or tax legal matters composed by members of the journal staff and outside contributors. All publications can be found at law.missouri.edu/betr.

Currently, the Business, Entrepreneurship & Tax Law Review is accepting articles and white papers for the fall 2019 and spring 2020 publications. Publications of any kind are accepted on a rolling basis and should be submitted through Expresso or by emailing mulawbet@missouri.edu.