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The Laws of Disruption, written by Larry Downes, a partner with the Bell-Mason Group, is a 12-chapter book published by Basic Books/Perseus Books Group. Composed of four sections, the book explores a simple but unavoidable principle of modern life: though technology changes exponentially, social, economic, and legal systems change incrementally. This disparity in change, Downes argues, will inevitably instigate conflicts between systems rooted in the past and the current and future generations who are dramatically rewriting the rules of both business and social interaction. Downes suggests nine emerging principles that are shaping a new legal code - the laws of disruption - that will close the gap between institutions of the past and those of the future. Chapter 5 discusses the third of the nine laws of disruption: human rights. The author argues that individual rights in digital life eroded badly during the war on terror of the early 2000's, and that "the only protection most of us are left with is the sheer volume of information and the lack of funding for governments to sift through all of it." He goes on to propose the establishment of several principles of digital civil liberties, and then the writing of software to enforce them.

The Laws of Disruption, written by Larry Downes, a partner with the Bell-Mason Group, is a 12-chapter book published by Basic Books/Perseus Books Group. Composed of four sections, the book explores a simple but unavoidable principle of modern life: though technology changes exponentially, social, economic, and legal systems change incrementally. This disparity in change, Downes argues, will inevitably instigate conflicts between systems rooted in the past and the current and future generations who are dramatically rewriting the rules of both business and social interaction. Downes suggests nine emerging principles that are shaping a new legal code - the laws of disruption - that will close the gap between institutions of the past and those of the future. Chapter 6 discusses the fourth of the nine laws of disruption: infrastructure. The author explores the government's role in the production, implementation, and ultimately, protection of the digital infrastructure. Regulatory measures and their often adverse effects are also discussed.

The Laws of Disruption, written by Larry Downes, a partner with the Bell-Mason Group, is an 12-chapter book published by Basic Books/Perseus Books Group. Composed of four sections, the book explores a simple but unavoidable principle of modern life: though technology changes exponentially, social, economic, and legal systems change incrementally. This disparity in change, Downes argues, will inevitably instigate conflicts between systems rooted in the past and the current and future generations who are dramatically rewriting the rules of both business and social interaction. Downes suggests nine emerging principles that are shaping a new legal code - the laws of disruption - that will close the gap between institutions of the past and those of the future. Chapter 7 introduces the fifth of the nine laws of disruption. Globalization has been turbocharged by the Internet. But merchants and consumers are learning to their peril that the easier it is to interact across borders, the more likely it is that provincial and often pointless local laws will rear up to interfere with trade. Sometimes, conflicting laws and uneven enforcement can come close to forcing a hard stop. The author argues that we need a single uniform law of digital commerce - and further, that the building blocks for writing one are in place.

The Laws of Disruption, written by Larry Downes, a partner with the Bell-Mason Group, is an 12-chapter book published by Basic Books/Perseus Books Group. Composed of four sections, the book explores a simple but unavoidable principle of modern life: though technology changes exponentially, social, economic, and legal systems change incrementally. This disparity in change, Downes argues, will inevitably instigate conflicts between systems rooted in the past and the current and future generations who are dramatically rewriting the rules of both business and social interaction. Downes suggests nine emerging principles that are shaping a new legal code - the laws of disruption - that will close the gap between institutions of the past and those of the future. Chapter 8 discusses the sixth of the nine laws of disruption: crime. The recent increase of digital crime is analyzed, as are the complications encountered by traditional law enforcement agencies attempting to prevent it.

The Laws of Disruption, written by Larry Downes, a partner with the Bell-Mason Group, is an 12-chapter book published by Basic Books/Perseus Books Group. Composed of four sections, the book explores a simple but unavoidable principle of modern life: though technology changes exponentially, social, economic, and legal systems change incrementally. This disparity in change, Downes argues, will inevitably instigate conflicts between systems rooted in the past and the current and future generations who are dramatically rewriting the rules of both business and social interaction. Downes suggests nine emerging principles that are shaping a new legal code - the laws of disruption - that will close the gap between institutions of the past and those of the future. Chapter 9 discusses the seventh of the nine laws of disruption: copyright. This chapter explores the ongoing and escalating conflict between producers attempting to protect their content and digital consumers who are routinely accused of copyright abuse. The history of copyright is discussed, as are the steps being taken on one side to enhance digital copyrights and, on the other, to repeal them. The author proposes a simple but controversial solution to the digital copyright dilemma and theorizes about the future of intellectual property.

The Laws of Disruption, written by Larry Downes, a partner with the Bell-Mason Group, is an 12-chapter book published by Basic Books/Perseus Books Group. Composed of four sections, the book explores a simple but unavoidable principle of modern life: though technology changes exponentially, social, economic, and legal systems change incrementally. This disparity in change, Downes argues, will inevitably instigate conflicts between systems rooted in the past and the current and future generations who are dramatically rewriting the rules of both business and social interaction. Downes suggests nine emerging principles that are shaping a new legal code - the laws of disruption - that will close the gap between institutions of the past and those of the future. Chapter 10 discusses the eighth of the nine laws of disruption: patent. The author explores the history of patent protection for computers and software, notably its failures and hindrances. He advocates the development of a new, more limited patent that would protect inventors without stifling competition.

The Laws of Disruption, written by Larry Downes, a partner with the Bell-Mason Group, is an 12-chapter book published by Basic Books/Perseus Books Group. Composed of four sections, the book explores a simple but unavoidable principle of modern life: though technology changes exponentially, social, economic, and legal systems change incrementally. This disparity in change, Downes argues, will inevitably instigate conflicts between systems rooted in the past and the current and future generations who are dramatically rewriting the rules of both business and social interaction. Downes suggests nine emerging principles that are shaping a new legal code - the laws of disruption - that will close the gap between institutions of the past and those of the future. Chapter 11 discusses the ninth and final law of disruption: software. Different software models are explained, and the open source business model is explored at length. The author traces the movement of software from physical media to web-based usage, or "Software as a Service" (SaaS), and discusses the implications of this shift.

The Laws of Disruption, written by Larry Downes, a partner with the Bell-Mason Group, is an 12-chapter book published by Basic Books/Perseus Books Group. Composed of four sections, the book explores a simple but unavoidable principle of modern life: though technology changes exponentially, social, economic, and legal systems change incrementally. This disparity in change, Downes argues, will inevitably instigate conflicts between systems rooted in the past and the current and future generations who are dramatically rewriting the rules of both business and social interaction. Downes suggests nine emerging principles that are shaping a new legal code - the laws of disruption - that will close the gap between institutions of the past and those of the future. In the twelfth and final chapter, the author states, "Our new laws won't look much like the old ones. Treaties, statutes, regulations, and judicial opinions are giving way to more organic forms. The Declaration of Independence of digital life has already been written. Its Constitution, made up of wikis, terms of service agreements, privacy policies, and software code itself, is now being drafted." In his view, lawmakers have disappointed us, while regulatory agencies have behaved even worse. He offers a possible source of hope, the old-fashioned virtue of understanding your customers: "As businesses shift the focus of their attention from wooing regulators to engaging customers, innovators will find they have a lot to learn about working with the latter as equal partners."

Acciona, S.A. is a global infrastructure and renewable energy conglomerate that is publicly traded in Spain and controlled by the Entrecanales family. In 2006, the company joined the highly politicized cross-border takeover battle for Spain's largest electric utility, Endesa, by acquiring a 10% stake that it subsequently built up to 21%. Other interested suitors were E.ON and Enel, the largest electric utilities in Germany and Italy, respectively. In March 2007, Acciona's executive chairman Jose Manuel Entrecanales is considering three strategic alternatives: tendering its shares--and realizing a capital gain of 1.2 billion euros, 13% of Acciona's market capitalization; holding out as a strategic but minority shareholder in Endesa; or negotiating an agreement with Enel and/or E.ON.

In July 2009, Jason Kilar, the chief executive officer of Hulu, is debating whether the online video aggregator should move away from a purely advertising-supported model, and whether it should participate in an industry-wide initiative to develop and test "authentication" technology that can facilitate a subscription or pay-per-view model. The case traces the early years of Hulu, a joint venture between News Corp. and NBC Universal, that was initially met with strong skepticism but quickly became on the most celebrated and popular online video business. Provides in-depth information on how the company serves content owners, users, and advertisers. Describes the online video space in considerable detail, also covering economic and viewership statistics that enable a rich discussion of viable business models.

The Joslin Diabetes Center in Boston, Massachusetts is a leading center for diabetes care, clinician training, and research. The incidence of diabetes is rising precipitously worldwide, challenging quality of life with its complications and rapidly accelerating health care expenditures for employers and governments. The Joslin's multispecialty, team-based care and patient education programs provide opportunities to examine integrated practice units, early-stage and preventive care, and clinical coordination along the full care cycle. The focus on diabetes also enables discussion of what services need to be included in integrated practice units serving patients with complex, chronic diseases. However, despite its renown, the Joslin's clinical operations lose money, raising the challenge of how to align financial success and clinical success in health care delivery. The case can be used to teach strategy in health care delivery, value creation, outcome measurement, reimbursement, and strategic alliances.

This note introduces the concept of risk or merger arbitrage. Risk arbitrage is an investing method that attempts to capitalize on announced transactions pertaining ti mergers, spin-off, takeovers, liquidations and corporate restructuring. The arbitrageur attempts to create riskless profit by simultaneous purchase and/or sales of assets that are part of the announced transaction. In the the note we outline the basics types of deals and methods to evaluate their profitability.

This short case could be handed out at the end of class discussion on "J&L Railroad" [UV0251] in preparation for the following class, or if students are more experienced with hedging and option pricing, the instructor may choose to cover both cases in a single class period. It is the companion case to "J&L Railroad" [UV0251], and presents more technical issues regarding the hedging problem by requiring students to understand option-pricing principles. The board likes the CFO's hedging recommendations, but it wants a more careful analysis of the bank's prices for its risk-management products: the caps and floors. Besides demanding an understanding of option pricing, this case puts particular emphasis on the calculation and use of implied volatility.

Gilead Sciences, the U.S. leader in HIV/AIDS medicines, with global sales of $5.4 billion in 2009, had undertaken several innovative actions to make its anti-viral products available to over 100 low- and middle-income countries. Having reached nearly 680,000 patients by the middle of 2009, the company's senior managers contemplated how to reach 2 million patients by 2012.

A diversified mid-sized manufacturer of kitchen tools contemplates a stock repurchase in response to an unsolicited takeover. The company must determine the optimal debt capacity and capital structure, and subsequently estimate the resulting change in firm value and stock price. Attention is also given to the value of interest tax shields.

Spreadsheet Supplement for 4040

Babeeze in Arms Doula Centre, a small London, Ontario-based business, offers services to women during pregnancy, labour and after childbirth. As a certified doula, the sole proprietor provides emotional and physical support to mother and complements the medical care provided by doctors and midwives. Along with two other doulas and an instructor, the proprietor offers labour services, postpartum services and childbirth education classes. She has a solid reputation in the community for providing excellent care. The proprietor is heavily involved as an active doula, but she would like to step back from practice to focus on improving community awareness of doulas and advocating for more options and better care for mothers and babies. She is interested in opening a private birth centre, which would be an alternative venue for women to give birth and a new facility from which to offer Babeeze's services and classes.

Teleco Inc. (Teleco), an established telecom conglomerate with a significant position in the Canadian wireless business, had engaged M2 to plan its digital media spending strategy for the upcoming quarter. The vice-president at M2 would have to help Teleco decide on the ideal investment strategy for its $1.5 million digital media advertising budget and wondered how this would affect M2's strategic recommendations.

A growing NGO based in Kibera, Nairobi, Kenya, is facing a complete change in leadership as the founders step back. At the same time, a $1 million grant presents new opportunities and challenges.

Roshan is a highly successful telecommunications company founded by the Aga Khan fund for Economic Development in Afghanistan during an ongoing civil conflict. Company leaders must now decide financial and market strategy for the next phase of development of the company. Should they sell the company -- and reinvest the proceeds in another socially-oriented venture? Continue to operate and expand the company? Expand to other neighboring countries?