{
 "@context": "https://schema.org",
 "@type": "DefinedTerm",
 "@id": "https://wulfkaal.github.io/entities/european-companies",
 "identifier": "kaal:entity:european-companies",
 "name": "European companies",
 "termCode": "european-companies",
 "inDefinedTermSet": {
  "@id": "https://wulfkaal.github.io/entities/index.json"
 },
 "author": {
  "@type": "Person",
  "name": "Wulf A. Kaal",
  "identifier": "https://orcid.org/0000-0003-0757-275X"
 },
 "dateModified": "2026-07-29",
 "canonicalForm": "https://wulfkaal.github.io/entities/european-companies.md",
 "sha256": "93b23e2b54794f1b43af61e4e3cb4ceacdccac6833fc382590f4850a2fd7a7ea",
 "additionalProperty": [
  {
   "@type": "PropertyValue",
   "name": "status",
   "value": "derived"
  },
  {
   "@type": "PropertyValue",
   "name": "claim_count",
   "value": 4
  },
  {
   "@type": "PropertyValue",
   "name": "work_count",
   "value": 1
  },
  {
   "@type": "PropertyValue",
   "name": "year_span",
   "value": [
    "2010",
    "2010"
   ]
  },
  {
   "@type": "PropertyValue",
   "name": "non_current_claims",
   "value": 0
  }
 ],
 "subjectOf": [
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/1664809-021",
   "identifier": "kaal:claim:1664809-021",
   "text": "A European company retains some ability to avoid the Sarbanes-Oxley Act by declining to list its securities in the United States, an escape route that expansive extraterritorial securities litigation would close.",
   "abstract": "A European company, however, has some ability to avoid the Sarbanes-Oxley Act if it avoids listing its securities in the",
   "citation": "Richard W. Painter, Wulf A. Kaal, Extraterritorial Application of US Securities Law – Will the US Become the Default Jurisdiction for (2010). SSRN: https://ssrn.com/abstract=1664809",
   "datePublished": "2010",
   "claim_type": "condition",
   "confidence": "argued",
   "is_failure_mode": false,
   "scope_conditions": [
    "companies not listed on a US exchange"
   ],
   "source_pdf_sha256": "2d5c8c30f969f8eb613bfa1fe6888a7cfa1a452e1027bcda0489618ceac62c20",
   "status": "current"
  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/1664809-022",
   "identifier": "kaal:claim:1664809-022",
   "text": "Overlapping regulation and inconsistent legal rules create uncertainty, so that individual board members of European companies and their attorneys will not know which legal rules apply or what effects those rules may have.",
   "abstract": "Overlapping regulation and inconsistent legal rules create uncer-",
   "citation": "Richard W. Painter, Wulf A. Kaal, Extraterritorial Application of US Securities Law – Will the US Become the Default Jurisdiction for (2010). SSRN: https://ssrn.com/abstract=1664809",
   "datePublished": "2010",
   "claim_type": "mechanism",
   "confidence": "argued",
   "is_failure_mode": true,
   "scope_conditions": [
    "companies exposed to more than one regulatory regime"
   ],
   "source_pdf_sha256": "2d5c8c30f969f8eb613bfa1fe6888a7cfa1a452e1027bcda0489618ceac62c20",
   "status": "current"
  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/1664809-025",
   "identifier": "kaal:claim:1664809-025",
   "text": "Enactment of section 7216 could make foreign cubed cases an integral part of the legal landscape in the United States and hence in Europe, ending the current situation in which most European companies are unaware of or unconcerned with that risk.",
   "abstract": "make foreign cubed cases an integral part of the legal landscape",
   "citation": "Richard W. Painter, Wulf A. Kaal, Extraterritorial Application of US Securities Law – Will the US Become the Default Jurisdiction for (2010). SSRN: https://ssrn.com/abstract=1664809",
   "datePublished": "2010",
   "claim_type": "predictive",
   "confidence": "argued",
   "is_failure_mode": false,
   "scope_conditions": [
    "enactment of section 7216"
   ],
   "source_pdf_sha256": "2d5c8c30f969f8eb613bfa1fe6888a7cfa1a452e1027bcda0489618ceac62c20",
   "status": "current"
  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/1664809-038",
   "identifier": "kaal:claim:1664809-038",
   "text": "European boards of directors and company lawyers should follow the Morrison decision and the section 7216 legislative process closely, prepare for the resulting changes, and ask Congress to reconsider section 7216.",
   "abstract": "European Boards of Directors and company lawyers should fol- low upcoming events closely and prepare themselves for these impending changes. They should also ask Congress to reconsider",
   "citation": "Richard W. Painter, Wulf A. Kaal, Extraterritorial Application of US Securities Law – Will the US Become the Default Jurisdiction for (2010). SSRN: https://ssrn.com/abstract=1664809",
   "datePublished": "2010",
   "claim_type": "normative",
   "confidence": "asserted",
   "is_failure_mode": false,
   "scope_conditions": [
    "pending outcome of Morrison v. NAB and of section 7216"
   ],
   "source_pdf_sha256": "2d5c8c30f969f8eb613bfa1fe6888a7cfa1a452e1027bcda0489618ceac62c20",
   "status": "current"
  }
 ],
 "description": "4 claims in the published works of Wulf A. Kaal carry the concept tag 'european-companies'. Derived node: a roster, not an adjudicated definition."
}