{
 "@context": "https://schema.org",
 "@type": "DefinedTerm",
 "@id": "https://wulfkaal.github.io/entities/legal-fees",
 "identifier": "kaal:entity:legal-fees",
 "name": "Legal fees",
 "termCode": "legal-fees",
 "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",
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  },
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  },
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   "@type": "PropertyValue",
   "name": "year_span",
   "value": [
    "2004",
    "2017"
   ]
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 "subjectOf": [
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/617681-021",
   "identifier": "kaal:claim:617681-021",
   "text": "The two sources that finance Delaware's bundled package, franchise taxes and legal fees for local counsel, might not be as lucrative for a European Member State, so the expensive package of statutes plus adjudication may have no viable funding model.",
   "abstract": "Two of the most often mentioned sources for financing Delaware's bundled package in the United States, franchise taxes and legal fees for Delaware counsel, unfortunately might not be as lucrative for a European Member State.",
   "citation": "Christian Kirchner, Richard W. Painter, Wulf A. Kaal, Regulatory Competition in EU Corporate Law after Inspire Art Unbundling Delaware's Product for Euro (2004). SSRN: https://ssrn.com/abstract=617681",
   "datePublished": "2004",
   "claim_type": "failure",
   "confidence": "argued",
   "is_failure_mode": true,
   "scope_conditions": [
    "European Member States with tax systems built around taxing operations within their borders"
   ],
   "source_pdf_sha256": "e142130507ea2f5b025fd97b3f762d44ee3a7aaa82b155aab63434b85e8fd834",
   "status": "current"
  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/2150377-005",
   "identifier": "kaal:claim:2150377-005",
   "text": "Losing the private adviser exemption imposed a bundle of obligations, disclosure duties and code of ethics requirements on top of inspections and record keeping, and the direct consequence was significantly higher legal fees for hedge funds.",
   "abstract": "Without the private adviser exemption, hedge funds were also faced with disclosure requirements62 and code of ethics requirements63 resulting in significantly higher legal fees.",
   "citation": "Wulf A. Kaal, Hedge Fund Manager Registration Under the Dodd-Frank Act (2012). SSRN: https://ssrn.com/abstract=2150377",
   "datePublished": "2012",
   "claim_type": "mechanism",
   "confidence": "asserted",
   "is_failure_mode": false,
   "scope_conditions": [
    "advisers subject to the SEC's 2004 registration rule"
   ],
   "source_pdf_sha256": "0b58bb409cac7674d78515f5374096f9a349de3bbd1983c990e0edc85a635a09",
   "status": "current"
  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/2998033-031",
   "identifier": "kaal:claim:2998033-031",
   "text": "LendingRobot can charge only a one percent management fee and a maximum 0.59 percent fund expense fee because its business model removes the investment adviser, overhead costs, and the legal fees attached to each individual investor agreement.",
   "abstract": "Because LendingRobots' business model removes the investment adviser, overhead costs, and legal fees associated with each investor agreement, LendingRobot is able to charge a mere 1% management fee and a maximum 0.59% fund expense fee per year.",
   "citation": "Wulf A. Kaal, Blockchain Innovation for Private Investment Funds (2017). SSRN: https://ssrn.com/abstract=2998033",
   "datePublished": "2017",
   "claim_type": "mechanism",
   "confidence": "evidenced",
   "is_failure_mode": false,
   "scope_conditions": [
    "describes LendingRobot's blockchain secured automated hedge fund"
   ],
   "source_pdf_sha256": "aafb1be3c25cd33da477d759df9ca2f856f0a8fe133d6396da2e75d0af573dbd",
   "status": "current"
  }
 ],
 "description": "3 claims in the published works of Wulf A. Kaal carry the concept tag 'legal-fees'. Derived node: a roster, not an adjudicated definition."
}