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The Legal William Shakespeare

This past April marked the 400th anniversary of the death of William Shakespeare.  See Happy Birthday William Shakespeare!  In 37 plays, Shakespeare wrote of kings, generals, lovers, and fools. He also made frequent mention of law.  He uses the word “law” approximately 200 times in 176 speeches in 36 different works. But what about lawyers?   By my count, Shakespeare…

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The General Counsel Is Not The Shareholders’ Agent

A recent paper by Adair Morse, Wei Wang, and Serena Wu, Executive Gatekeepers: Useful and Divertible Governance, tackles interesting questions about the the effectiveness of internal gatekeepers and the impact of equity incentives on those gatekeepers.  However, I couldn’t get past the second sentence of the paper that asserts, without authority: These executive gatekeepers, typically holding the…

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