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| American Bar Association Section of Business Law | |
|---|---|
| Name | Section of Business Law |
| Founded | 1929 |
| Type | Section of a professional association |
| Headquarters | Chicago, Illinois |
| Leader title | Chair |
| Parent organization | American Bar Association |
American Bar Association Section of Business Law The Section of Business Law of the American Bar Association is a constituent part of the American Bar Association dedicated to practitioners and scholars engaged in commercial, transactional, and corporate practice. It convenes lawyers, judges, academics, and industry advisors to develop model rules, commentaries, and continuing legal education in areas such as corporate governance, securities, mergers and acquisitions, and bankruptcy. The Section collaborates with courts, legislatures, and international organizations to shape policy and practice affecting business law across the United States and in cross-border matters.
The Section traces its formal origins to initiatives within the American Bar Association during the late 1920s and early 1930s when leaders sought organized forums for commercial practice, influenced by developments such as the Great Depression, the enactment of the Securities Act of 1933, and later the Securities Exchange Act of 1934. Prominent early participants included figures associated with the United States Supreme Court and law firms active in corporate law, who responded to regulatory shifts following the New Deal. Over decades the Section expanded amid landmark events including the Bankruptcy Reform Act of 1978 and financial episodes like the 2008 financial crisis, adapting its committees and model rules to evolving judicial decisions from the United States Court of Appeals for the Second Circuit and policy trends from the United States Department of Justice.
Governance is structured under a Council and elected officers including a Chair, Chair-Elect, and Treasurer, operating within the framework of the American Bar Association bylaws. The Council comprises leaders appointed from standing committees and state delegations, reflecting ties with bar associations such as the New York State Bar Association, the California Lawyers Association, and the Chicago Bar Association. Leadership often features academics from institutions like Harvard Law School, Yale Law School, Columbia Law School, and practitioners from firms such as Skadden, Arps, Slate, Meagher & Flom, Cravath, Swaine & Moore, and Sullivan & Cromwell. The Section interacts with ABA governance bodies including the House of Delegates and coordinates with entities such as the International Bar Association on transnational matters.
Membership encompasses lawyers, judges, professors, and corporate counsel drawn from corporations such as General Electric, ExxonMobil, and Goldman Sachs. The Section is subdivided into substantive committees and task forces: Corporate Governance, Mergers and Acquisitions, Securities Regulation, Bankruptcy, Banking, Antitrust and Trade Regulation, and Taxation, among others. Committees convene subject-matter leaders affiliated with universities like University of Chicago Law School and think tanks such as the Brookings Institution. Special committees have addressed topics impacted by statutes like the Dodd–Frank Wall Street Reform and Consumer Protection Act and treaties such as the United Nations Convention on Contracts for the International Sale of Goods.
The Section hosts annual conferences, institutes, and symposia, including programming at the ABA Annual Meeting and standalone events focusing on issues raised by the Financial Crisis Inquiry Commission and rulings from the United States Supreme Court. CLE programs tackle practical topics such as drafting under the Uniform Commercial Code, compliance with the Foreign Corrupt Practices Act, and restructurings influenced by decisions of the Delaware Court of Chancery. International outreach includes partnerships with the Organisation for Economic Co-operation and Development and engagement in comparative law dialogues with the European Commission and national bar organizations from United Kingdom, Canada, and Japan.
The Section publishes books, treatises, model acts, practice guides, and periodicals, including the Business Law Today magazine and handbooks utilized by practitioners in litigation and transactional matters. It produces model documents informed by precedent from the Delaware Supreme Court, commentary on statutes such as the Sarbanes–Oxley Act of 2002, and bench books for judges. Collaborations with publishers and academic journals extend to law reviews at Stanford Law School and University of Pennsylvania Law School, and the Section maintains online resource centers and databases for members.
Through drafting model rules, submitting amicus briefs to the United States Supreme Court and federal appellate courts, and testifying before congressional committees and state legislatures, the Section influences statutory interpretation and policy. Its work has informed deliberations at the Securities and Exchange Commission, the Federal Reserve System, and the Department of the Treasury. The Section’s commentaries and recommendations have been cited in decisions from courts including the Delaware Court of Chancery and the Second Circuit Court of Appeals, and it coordinates with advocacy groups such as the Chamber of Commerce of the United States on regulatory proposals.
The Section presents awards recognizing excellence in scholarship, practice, and public service, honoring individuals from academia, private practice, and the bench, including professors from Georgetown University Law Center and judges from the United States Court of Appeals for the Third Circuit. Honors include lifetime achievement awards, distinguished service citations, and recognition for influential reports that have guided adoption of model acts and best practices by state legislatures and international standard-setting bodies such as the International Organization for Standardization.
Category:American Bar Association Category:Legal organizations in the United States