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The Section of Business Law seeks to improve the law and to provide cutting-edge professional development for its members (practitioners from every field of business law, whether they are private practitioners, in-house counsel, academics, judges or government lawyers). The section offers opportunities through its substantive and professional committees for hands-on engagement in a variety of programs, projects and publications. These range from the drafting of model documents (for example, the Model Asset Purchase Agreement: International Asset Acquisitions), to collaboration with the United Nations Commission on International Trade Law (UNCITRAL) on trade law harmonization initiatives, to high-profile national institutes and programs on breaking legal issues, to high-level interaction with the U.S. Securities and Exchange Commission through comment on proposed rules and regulations. Over the next several years, the section will steadily increase and enhance its global business law focus. In today’s global economy, business law is becoming more and more global. One evidence of this is that almost 20% of the attendees at recent section meetings have been non-U.S. lawyers who are associate members of the American Bar Association and our section. Virtually all of the section’s substantive committees have subcommittees with a global or transnational focus, and the section’s International Business Law Committee (which will be chaired next year by a Canadian lawyer) continues to experience rapid growth. The section will enhance its emphasis on professionalism in the business law practice. The Committee on Professional Conduct’s Law Firm Counsel Initiative, launched with great success this year, confirms the deep commitment of business law practitioners to the ethical foundations of our profession. The section’s substantive committees will continue to define the application of the rules of professional conduct in specific subject areas, such as bankruptcy and legal opinions, and the section will continue to play a leading role in safeguarding the attorney-client privilege, as threatened by prosecutorial demands for waiver and by proposed anti-money laundering rules. Attention will be given to issues of multi-jurisdictional ethics posed by the increasingly global range of the business law practice. As it pursues these objectives, the section will build on past successes. To promote diversity in America’s boardrooms, the section’s DirectWomen Initiative, launched in 2007, will return in 2008 with an institute open to women attorneys who are interested in making their talents available to corporate boards as independent directors. Part of that initiative includes the Sandra Day O’Connor Award (previously known as the DirectWomen Award), which honors women lawyers who have contributed to the advancement of women lawyers as corporate directors. The section will provide continuing support to the National Institute on Legal Opinions, launched in 2006 as a forum for collaboration by the section’s Committee on Legal Opinions, the Tri-Bar Committee and a number of state bar legal opinion committees. In 2008, the section, along with the Delaware judiciary, plans to stage a Delaware Law Institute that will offer in-depth analysis and discussion of trends in transactional law in that critically important jurisdiction. Charles E. McCallum, a partner at the Grand Rapids, Mich., firm Warner Norcross & Judd, is the chair-elect of the Section of Business Law. For more information about the section, see www.abanet.org/buslaw.

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