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"Limited partnerships"
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High-End Bargaining Problems
2022
Many important areas of the law place great confidence in the ability of contracting parties to bargain effectively. In this Article, I question the wisdom of a formalistic faith in bargaining by identifying flaws in the bargaining process at the high end of the market, where parties are sophisticated and have substantial resources to aid them in bargaining.
Journal Article
Delaware Harmonizes Alternative Entity Series and UCC Article 9
2021
Delaware statutory trusts, limited liability companies, and limited partnerships can form separate series of assets that, if certain statutory requirements are met, cannot be reached by creditors of the entity as a whole or of any other series. Recently, many practitioners and commentators have been concerned that such series may not be among the entities falling under the UCC's definition of \"person\" and thus may fall outside the realm of potential \"debtors\" for purposes of Article 9 of the UCC. This article reviews the series provisions in the acts governing Delaware statutory trusts, limited liability companies, and limited partnerships, and provides a framework for analyzing questions regarding the perfection of security interests in the assets of a series.
Journal Article
Artificial Intelligence Can Generate Fraudulent but Authentic-Looking Scientific Medical Articles: Pandora’s Box Has Been Opened
by
Černý, Martin
,
Májovský, Martin
,
Netuka, David
in
Algorithms
,
Artificial Intelligence
,
Chatbots
2023
Artificial intelligence (AI) has advanced substantially in recent years, transforming many industries and improving the way people live and work. In scientific research, AI can enhance the quality and efficiency of data analysis and publication. However, AI has also opened up the possibility of generating high-quality fraudulent papers that are difficult to detect, raising important questions about the integrity of scientific research and the trustworthiness of published papers.
The aim of this study was to investigate the capabilities of current AI language models in generating high-quality fraudulent medical articles. We hypothesized that modern AI models can create highly convincing fraudulent papers that can easily deceive readers and even experienced researchers.
This proof-of-concept study used ChatGPT (Chat Generative Pre-trained Transformer) powered by the GPT-3 (Generative Pre-trained Transformer 3) language model to generate a fraudulent scientific article related to neurosurgery. GPT-3 is a large language model developed by OpenAI that uses deep learning algorithms to generate human-like text in response to prompts given by users. The model was trained on a massive corpus of text from the internet and is capable of generating high-quality text in a variety of languages and on various topics. The authors posed questions and prompts to the model and refined them iteratively as the model generated the responses. The goal was to create a completely fabricated article including the abstract, introduction, material and methods, discussion, references, charts, etc. Once the article was generated, it was reviewed for accuracy and coherence by experts in the fields of neurosurgery, psychiatry, and statistics and compared to existing similar articles.
The study found that the AI language model can create a highly convincing fraudulent article that resembled a genuine scientific paper in terms of word usage, sentence structure, and overall composition. The AI-generated article included standard sections such as introduction, material and methods, results, and discussion, as well a data sheet. It consisted of 1992 words and 17 citations, and the whole process of article creation took approximately 1 hour without any special training of the human user. However, there were some concerns and specific mistakes identified in the generated article, specifically in the references.
The study demonstrates the potential of current AI language models to generate completely fabricated scientific articles. Although the papers look sophisticated and seemingly flawless, expert readers may identify semantic inaccuracies and errors upon closer inspection. We highlight the need for increased vigilance and better detection methods to combat the potential misuse of AI in scientific research. At the same time, it is important to recognize the potential benefits of using AI language models in genuine scientific writing and research, such as manuscript preparation and language editing.
Journal Article
Stupid Doctor Mistakes: Part Three of Many
2020
No matter what your income, and how much you have in the bank, if you are not careful with your money, you won't have it for long.Why Won't Physicians Pay for Good Advice? I have noted many times that one problem physicians have with their investments is lack of financial instruction. Considering that physicians make their living by giving advice, it puzzles me that they are unwilling to spend anything to gain useful advice.Limited Partnerships Limited Partnerships (LPs) are a perfectly legitimate was to do business. [...]I am convinced that more physicians have lost more money through LPs that any other way, in part because it exploits physicians’ weaknesses of lack of knowledge and the feeling of intellectual invincibility. 1)The further you get away from traditional investments, such as Certificates of Deposit, stocks, bonds, and real estate, the greater the knowledge required, and the greater the possibility for error. 2)There is the exclusivity angle. Because not everyone can participate in a LP, it allows the physician to brag in the Doctor's Lounge that they are in an exotic investment that could return 10 to 20 times, or even more, their initial investment. 3)Read Gulliver's Travels. Or better yet; if you have any concern, don't do it.Disclosures Dr. Doroghazi is not a registered financial advisor under federal law or any state law.
Journal Article
Compulsory Termination of Legal Entities: Civil Legal and Criminal Issues
by
Vovk, Maria Z
,
Krasnytskyi, Ivan V
,
Parasiuk, Nataliya M
in
Bankruptcy
,
Criminal liability
,
Limited liability partnerships
2018
In the conditions of reforming of Ukrainian legislation, in the context of its harmonization with the law of the European Union, the research of the institute of legal entities is becoming more and more important. Fifteen years after the Civil and Economic Codes of Ukraine came into force, the various laws of Ukraine 'On State Registration of Legal Entities, Individual Entrepreneurs and Public Formations' have been introduced, and the Code of Ukraine on Bankruptcy Procedures was adopted, which will come into force on October 21, 2019, the legal regulation of the procedure for termination of legal entities has undergone significant changes. Many debates arise when it comes to compulsory liquidation procedures, the need to ensure proper legal regulation of the protection of the interests of bona fide creditors, the competence of legal entities at the stage of its termination, etc. This, in turn, necessitates a careful study of the legal framework, an analysis of the issues that arise in connection with this, and the filling of the gaps in the regulation of their main aspects.
Journal Article
Auditors’ legal liability and client firms’ comparability: evidence from China
2023
Purpose
This paper aims to investigate the relation between audit firms’ switch to limited liability partnership (LLP) from limited liability company (LLC) and client firms’ earnings comparability. If LLP auditors, who have a higher liability exposure than LLC auditors, are more consistent in implementing generally accepted accounting principles and executing firm-wide audit methodologies, client firms’ earnings comparability will increase.
Design/methodology/approach
Using data from China, the authors examine whether client firm-pairs of LLP auditors have higher earnings comparability than client firm-pairs of LLC auditors. The authors also perform cross-sectional tests to shed light on the mechanisms through which auditors’ litigation exposure affects client firms’ comparability.
Findings
The authors find that firm-pairs in which both firms are audited by LLP auditors exhibit higher earnings comparability than other firm-pairs. This result is stronger when client firms are audited by the same auditor, when client firms are audited by the top 10 auditors and when the auditors are less dependent on the client firms. The authors also document that firm-pairs in which both firms are audited by LLP auditors have lower average analyst earnings forecast error and forecast dispersion.
Originality/value
To the best of the author’s knowledge, this study is the first to examine the relation between auditor’s litigation exposure and client firms’ earnings comparability. It also extends the literature on audit firm organizational form and audit quality.
Journal Article
Third-Party Closing Opinions
2018
By the TriBar Opinion Committee· The TriBar Opinion Committee has published two reports on opinions on limited liability companies (\"LLCs\").1 This report addresses opinions on limited partnerships.2 Its purpose is to provide guidance on the wording and meaning of those opinions and the work required to support them. The formation of a limited partnership requires the filing of a document-in Delaware, a certificate of limited partnership-with the appropriate governmental office in the state3 under whose laws the limited partnership is being formed.4 In addition, in Delaware and many other states for a limited partnership to be formed it must have an agreement of limited partnership (referred to in this report as a \"partnership agreement\") between at least one general partner and one different limited partner.5 Although a partnership agreement may be oral,6 to eliminate uncertainty, lawyers ordinarily insist that an oral partnership agreement be reduced to writing before they will give the opinions discussed in this report.7 The opinions typically given on a limited partnership cover its: (i) formation and existence; (ii) power to enter into and perform its obligations under the transaction documents; and (iii) authorization, execution, and delivery of those documents. To give a \"duly formed\" opinion on a Delaware limited partnership, the opinion preparers ordinarily obtain a copy of the certificate of limited partnership certified by the Secretary of State,17 confirm that the certificate of limited part- nership complies with the requirements of the Delaware LP Act,18 and, if the certificate specifies an effective date, confirm that the effective date has occurred.19 In addition, the opinion preparers ordinarily obtain a copy of the partnership agreement from an appropriate source20 and review it to determine (i) that it purports to have been signed by (or on behalf of) at least one person meeting the requirements for being a general partner and one different person meeting the requirements for being a limited partner, in each case of the statute under which the limited partnership was formed and the partnership agreement21 and (ii) that any conditions in the partnership agreement on its becoming effective have been met.22 EXISTENCE An opinion that a limited partnership is \"validly existing\" means that on the date of the opinion letter the limited partnership exists as a limited partnership under the statute under which it was formed.23 To give a \"validly existing\" opinion on a Delaware limited partnership, the opinion preparers ordinarily obtain (i) a \"good standing\" certificate from the Delaware Secretary of State,24 (ii) a copy of the current certificate of limited partner ship certified by the Secretary of State, and (iii) a copy of the current partnership agreement25 from an appropriate source.26 They then confirm that the certificate of limited partnership meets the requirements of the Delaware LP Act27 and that the partnership agreement purports to have been signed by (or on behalf of) at least one person meeting the requirements of the Delaware LP Act and the partnership agreement for being a general partner and at least one different person meeting the requirements for being a limited partner.28 In many states, including Delaware, dissolution of a limited partnership does not in and of itself terminate the existence of a limited partnership. Rather, the limited partnership's existence terminates when its certificate of limited partnership is cancelled. [...]in Delaware and many other states, so long as a limited partnership's certificate of limited partnership has not been cancelled, the dissolution of a limited partnership will not in and of itself prevent the giving of a validly existing opinion.29 By analogy to an opinion that a corporation is validly existing,30 an opinion that a Delaware limited partnership is validly existing sometimes states that it is given solely in reliance on a Delaware Secretary of State's \"good standing\" certificate.
Journal Article
Hydrogen inhibits endometrial cancer growth via a ROS/NLRP3/caspase-1/GSDMD-mediated pyroptotic pathway
2020
Background
Pyroptosis belongs to a novel inflammatory programmed cell death pathway, with the possible prognosis of endometrial cancer related to the terminal protein GSDMD. Hydrogen exerts a biphasic effect on cancer by promoting tumor cell death and protecting normal cells, which might initiate GSDMD pathway-mediated pyroptosis.
Methods
We performed immunohistochemical staining and western immunoblotting analysis to observe expression of NLRP3, caspase-1, and GSDMD in human and xenograft mice endometrial cancer tissue and cell lines. We investigated treatment with hydrogen could boost ROS accumulation in endometrial cancer cells by intracellular and mitochondrial sources. GSDMD shRNA lentivirus was used to transfect endometrial cancer cells to investigate the function of GSDMD protein in pyroptosis. Propidium iodide (PI) staining, TUNEL assay, measurement of lactate dehydrogenase (LDH) release and IL-1β ELISA were used to analysis pyroptosis between hydrogen-supplemented or normal culture medium. We conducted in vivo human endometrial tumor xenograft mice model to observe anti-tumor effect in hydrogen supplementation.
Results
We observed overexpression of NLRP3, caspase-1, and GSDMD in human endometrial cancer and cell lines by IHC and western immunoblotting. Hydrogen pretreatment upregulated ROS and the expression of pyroptosis-related proteins, and increased the number of PI- and TUNEL-positive cells, as well as the release of LDH and IL-1β, however, GSDMD depletion reduced their release. We further demonstrated that hydrogen supplementation in mice was sufficient for the anti-tumor effect to inhibit xenograft volume and weight of endometrial tumors, as mice subjected to hydrogen-rich water displayed decreased radiance. Tumor tissue sections in the HRW groups presented moderate-to-strong positive expression of NLRP3, caspase-1 and GSDMD. Hydrogen attenuated tumor volume and weight in a xenograft mouse model though the pyroptotic pathway.
Conclusions
This study extended our original analysis of the ability of hydrogen to stimulate NLRP3 inflammasome/GSDMD activation in pyroptosis and revealed possible mechanism (s) for improvement of anti-tumor effects in the clinical management of endometrial cancer.
Journal Article
AINSLIE V. CANTOR FITZGERALD, L.P
2023
If the restrictive device is a condition, the Court will make a public policy determination along with an evaluation for reasonableness in determining any restraint of trades enforceability. [...]prohibition against competitive activities not only against Cantor, but also to any affiliated entities provided an unreasonable scope of protection to Cantor's economic interests. After determining that the reasonableness standard shall apply, the Court deemed the provisions unenforceable for the same three reasons as outlined above: unreasonable geographic and temporal scope, no protection of a legitimate economic interest, and failure to survive the balancing of the equities.
Journal Article