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Authors

James McConvill

Abstract

The idea behind this article is to unlock the hidden "genius" of Australian takeovers law. 1 This is to be achieved not by way of legislative reform, but rather by taking a fresh look at the law which already exists, in light of the structure of U.S. takeovers law and innovation in U.S. corporate law scholarship, along with the use of principles and concepts in marketing. It will draw upon the U.S. economic analysis of law and corporate law; more specifically, treating law as a product in a market. Accordingly, this makes it useful to draw upon principles of marketing to make the product more effective in responding to consumer demand. This article will adopt a "product management approach" to takeovers law, seeking guidance from the U.S. to make the product more efficient, in order to respond to consumer demand and thus to justify the continued existence of this product in the market. In doing so, it will look to the regulation of takeovers in the U.S., a system which has similar objectives to Australian takeovers regulation but which is more streamlined, despite operating in a more sophisticated and active market for corporate control. This article is about how applying American thought and practice to the existing structure of Australian takeover law will provide for greater freedom, and overall greater efficiency in the operation of Australian takeovers regulation.

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