Predict your next investment

New York University company logo
Academic/University
CONSUMER PRODUCTS & SERVICES | Education & Training (non-internet/mobile) / Colleges & Universities
nyu.edu

See what CB Insights has to offer

Founded Year

1831

About New York University

New York University is a research university based in New York, New York that features various academic programs.

New York University Headquarter Location

70 Washington Square South

New York, New York, 10012,

United States

212-998-1212

Latest New York University News

Antitrust bill moving through Albany would alter M&A landscape

Jan 13, 2022

Gianaris Albany Democrats have moved one step closer to passing far-reaching antitrust legislation that drastically lowers the threshold of what is legally considered a monopoly and gives the state a role in merger oversight. The Senate Consumer Affairs Committee passed anti-trust legislation sponsored by Senate Majority Leader Michael Gianaris on Wednesday that seeks to redefine what constitutes a monopoly in New York and change the pre-merger review process to give the state oversight in determining whether a business has achieved disproportionate market share. The legislation would also inaugurate an “abuse of dominance standard” currently used in the European Union that would apply to state businesses that capture a 40% market share as sellers and 30% market share as buyers or display “direct evidence” of a dominant position. “Our antitrust laws have been a problem for decades,” Gianaris said. “This legislation was advised by the state attorney general’s office who has attempted valiantly to use existing laws to bring sanity to the markets and feels restricted by the toothless nature of many of them.” Gianaris’ legislation would establish novel state pre-merger notification requirements for mergers and significantly lower the pre-merger value threshold from $92 million, the level set by the federal Hart-Scott-Rodino Antitrust Improvement Act of 1976, to $9.2 million. “That’s a big change. You’re going to touch a lot of transactions that include New York State, as I imagine most national mergers touch New York State,” said Sam N. Weinstein, professor at Cardozo School of Law and a former antitrust attorney at the Department of Justice. “It’s going to create a lot of extra work for lawyers, and you’ll have to think twice about it as a business person doing an M&A.” The bill would also extend the required notification timeline for mergers from 30 days, as set by the federal law, to 60 days, potentially drawing out complex transactions. Gianaris argued that the significant numerical departures from pre-merger thresholds set by the federal government is deliberate, as he doesn’t want the state to simply duplicate the federal regulation. “That’s intention, the federal regulator captures anything above that threshold and the attorney general’s office believes that smaller scale mergers are slipping through the cracks, and that [$9.2 million] would be a good threshold for them to step in and monitor activity,” he said. If passed, the law would make New York the first state to inaugurate an “abuse of dominance standard,” along the lines of what the European Union uses. Currently, federal monopoly law uses a market share threshold of 66% to 70% to prove the existence of monopoly power; under the bill, an abuse of dominance standard would be triggered for both buyers and sellers holding a less than 50% marketshare, or would apply direct evidence of dominant behavior like the setting prices and wages. “So along with monopolization, we’d have an antitrust claim of abuse of dominance, which is kind of a broader claim, more premised in the kinds of activity that could get a business in trouble,” said Christopher Jon Sprigman, professor of law at New York University specializing in intellectual and antitrust law. “The legislation says that the pro-competitive effects of some behavior don’t offset anti-competitive effects.”   Hours after the bill passed, the Partnership for New York City sent an open letter to Gov. Kathy Hochul and state legislators blasting the bill. Signed by presidents, CEOs, and general counsels of more than 50 firms, corporations and nonprofits, the letter railed against the legislation and said it would create “a new level of risk, cost and potential liability” for firms conducting business in New York. “If enacted, this law would make New York far less attractive for business investment and job creation, since it will put restrictions on New York firms that their competitors in other states and most countries would not be subject to,” the letter stated. “Ultimately, the result of this legislation will be lost jobs and reduced tax revenues.” Presidents and CEOS from the Chambers of Commerce in all five boroughs signed the Partnership’s letter, together with corporate leadership at Condé Nast, The Travelers Companies, American Express, and Delaware North Companies, the firm where Gov. Hochul’s husband, William J. Hochul, serves as general counsel and senior vice president. Gov. Hochul’s office did not respond to a request for comment on whether the governor supports the antitrust legislation and if her husband recused himself from the review process before Delaware North signed the letter. Small business advocates praised the bill and said governments at the state and federal level should be doing more to craft legislation that creates more opportunities for small businesses to thrive as the nation emerges from the pandemic. “The broader issue is that we have not had enough antitrust enforcement and it’s come at the expense of small business,” said Didier Trinh, director of policy at the Main Street Alliance, a national network of small businesses. “This bill would enable small businesses to compete more fairly with some of these larger companies.” As the bill moves through Albany–Gianaris expects a full Senate floor vote soon–antitrust experts believe that the bill could set a new antitrust standard for the rest of the nation to follow. “The story of the American economy right now is the big business squashing the small ones,” said Sprigman. “If we had new antitrust laws, the big business would have to watch their step, and if you’re small, you’ll have more of a chance of surviving and doing so in an increasingly competitive environment.”

Predict your next investment

The CB Insights tech market intelligence platform analyzes millions of data points on venture capital, startups, patents , partnerships and news mentions to help you see tomorrow's opportunities, today.

Expert Collections containing New York University

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

New York University is included in 1 Expert Collection, including Conference Exhibitors.

C

Conference Exhibitors

5,302 items

New York University Patents

New York University has filed 247 patents.

The 3 most popular patent topics include:

  • Transcription factors
  • Clusters of differentiation
  • Molecular biology
patents chart

Application Date

Grant Date

Title

Related Topics

Status

10/15/2015

12/28/2021

Barcodes, Spectroscopy, Machine learning, Diseases of the eye and adnexa, Molecular biology

Grant

Application Date

10/15/2015

Grant Date

12/28/2021

Title

Related Topics

Barcodes, Spectroscopy, Machine learning, Diseases of the eye and adnexa, Molecular biology

Status

Grant

New York University Web Traffic

Rank
Page Views per User (PVPU)
Page Views per Million (PVPM)
Reach per Million (RPM)
CBI Logo

New York University Rank

CB Insights uses Cookies

CBI websites generally use certain cookies to enable better interactions with our sites and services. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. You can read more about your cookie choices at our privacy policy here. By continuing to use this site you are consenting to these choices.