The Sarbanes–Oxley Act seeks to improve corporate financial reporting and eliminate the frauds and improprieties that spurred the numerous accounting scandals. While Sarbanes–Oxley requires an immense amount of time and effort for compliance, the Act’s application to intellectual property is woefully lacking. This comment proposes that the proper remedy is increased definition within the language of the Act. Additionally, small businesses, whose activities have little effect on the financial markets, should be subject to fewer regulations within Sarbanes–Oxley. Without paring down ambiguous terms and limiting the scope of the Act, corporate officers are left in the dark about what constitutes sufficient compliance.
Matthew D. Goodstein, Sarbanes-Oxley: A Dark Cloud Over Intellectual Property and Business, 6 J. Marshall Rev. Intell. Prop. L. 272 (2007)