Commentary on Fine Arts Copyright Act 1862

Legislation conferring copyright protection on paintings, drawings, and photographs for the life of the author plus a seven year post mortem term. The Act was also innovative in de-coupling the copyright term from the event of publication, in providing artists with a new form of ‘moral rights' protection, and in introducing the concept of "originality" as the standard threshold for copyright protection.
The commentary explores the background to the legislation, and in particular, the international copyright regime, the nature of the art market in eighteenth and early nineteenth centuries, the role of the Society of Artists in lobbying for legislative protection, and the impetus which the International Exhibition provided for securing the same. The commentary also considers how the 1862 Bill, in its earliest incarnation, incorporated elements that would have signalled a radical departure from established copyright norms. In particular, the Bill proposed: that copyright protection should not be contingent upon registration; and that protection should be offered on a universal basis, regardless of an artists' nationality, and regardless of where the work in question was created.

Much Ado About Nothing: The Limitation of Liability and the Market for 19th century Irish Bank Stock

Abstract Limited liability is widely believed to be a prerequisite for the emergence of an active and liquid securities market because the transactions costs associated with trading ownership of unlimited liability firms are viewed as prohibitive. In this article, we examine the trading of shares in an Irish bank, which limited its liability in 1883. Using this bank’s archives, we assemble a time series of trading data, which we test for structural breaks. Our results suggest that the move to limited liability had a negligible impact upon the trading of this bank’s shares.