Tuesday, December 16, 2003

Capitalism and the Law: The People v. Lala Wang

CAC's Skip Oliva offers a case study on the injustice of business regulation today at Initium:

Wang is the founder of MLX.com, an interactive portal site that allows customers to access a real-time database of real estate listings. In her years as a real estate broker, Wang never faced a single consumer complaint. But her perfect record and satisfied customer base did nothing to dissuade the New York Department of State from trying to shut down her business. The Department claimed Wang's Internet database was, in fact, an unlicensed AIV. Wang disagreed, arguing that a real-time, interactive web portal was about as far from the static AIV lists of the 1970s as you could get. Her service had none of the consumer fraud pitfalls of those older, largely extinct businesses. But the Department would not waiver, and they suspended her real estate broker's license until she agreed to rid herself of MLX.com. . .
What is impressiveve about this case is Ms. Wang had the courage to fight back. I wish her the best as her petition for certiorari goes before the US Supreme Court.

No comments: