Business law is a broad field that encompasses a variety of legal topics and issues related to businesses and commercial transactions. In 2015, there were numerous developments in the field of business law that impacted companies and individuals alike.
One major development in business law in 2015 was the adoption of the Dodd-Frank Wall Street Reform and Consumer Protection Act. This act was enacted in response to the financial crisis of 2008 and aimed to improve the regulation and supervision of financial institutions in order to prevent future crises. It implemented a variety of measures, including the creation of the Consumer Financial Protection Bureau, which was tasked with protecting consumers from predatory financial practices.
Another significant development in business law in 2015 was the Supreme Court's ruling in the case of King v. Burwell. This case concerned the Affordable Care Act, also known as Obamacare, and whether the federal government could provide subsidies to individuals who purchased health insurance through the federal exchange. The Court ruled in favor of the government, allowing the subsidies to continue and upholding the validity of the Affordable Care Act.
In 2015, there were also several notable cases related to intellectual property law. For example, in the case of Kimble v. Marvel Enterprises, the Supreme Court ruled that a patent holder cannot collect royalties for the use of their patent after the patent has expired. This decision has significant implications for companies that hold patents and rely on royalties as a source of revenue.
Another significant development in business law in 2015 was the adoption of the Defend Trade Secrets Act. This act established a federal cause of action for trade secret misappropriation and allows companies to bring lawsuits in federal court to protect their trade secrets. It also provides for criminal penalties for individuals who engage in trade secret theft.
Overall, 2015 was a significant year in the field of business law, with numerous developments that impacted businesses and individuals alike. From the adoption of the Dodd-Frank Act and the ruling in the King v. Burwell case to the decision in Kimble v. Marvel Enterprises and the Defend Trade Secrets Act, 2015 saw a number of important legal developments that continue to shape the business landscape today.