Creativity, Law and Entrepreneurship

Creativity, Law and Entrepreneurship

Elgar Law and Entrepreneurship series

Edited by Shubha Ghosh and Robin Paul Malloy

Creativity, Law and Entrepreneurship explores the idea of creativity, its relationship to entrepreneurship, and the law’s role in inhibiting and promoting it. The inquiry into law and creativity reduces to an inquiry about what people do, what activities and actions they engage in. What unites law and creativity, work and play, is their shared origins in human activity, however motivated, to whatever purpose directed. In this work contributors from the US and Europe explore the ways in which law incentivizes particular types of activity as they develop themes related to emergent theories of entrepreneurship (public, private, and social); lawyering and the creative process; creativity in a business and social context; and creativity and the construction of legal rights.

Chapter 2: Real Estate Transactions and Entrepreneurship

Robin Paul Malloy

Subjects: business and management, entrepreneurship, economics and finance, law and economics, law - academic, intellectual property law, law and economics


Robin Paul Malloy INTRODUCTION This chapter is offered as an invitation to a conversation about the way in which we think, or might think, about real estate transactions. It is preliminary and suggestive in nature, and it invites readers to think about an entrepreneurial theory of real estate transactions. Many of the ideas expressed herein expand on work begun in two of my earlier books: Law and Market Economy: Reinterpreting the Values of Law and Economics;1 and Law in a Market Context: An Introduction to Market Concepts in Legal Reasoning.2 In each of these books I develop the idea of law and market economy, or what might otherwise be identified as law and market exchange theory. This approach is one based on the market as a dynamic process of exchange and involves examining the way in which exchange is initiated, the terms of trade, the objects of exchange and a variety of socio-legal factors that govern human interaction in a market society. It is an approach grounded in an understanding of the market as a place of meaning and value transformation rather than one of a simple utilitarian economic calculus, and it assumes that the market is a means to a mission driven end rather than an end in itself. In this chapter I apply this approach to an initial consideration of real estate transactions to suggest that such transactions are prototypical examples of entrepreneurship because they focus on the capture and creation of value through exchange. At the...

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