Competition Policy and Patent Law under Uncertainty: Regulating Innovation

Cambridge University Press, 6/13/2011
EAN 9780521766746, ISBN10: 0521766745

Hardcover, 558 pages, 22.8 x 15.2 x 3.5 cm
Language: English

The regulation of innovation and the optimal design of legal institutions in an environment of uncertainty are two of the most important policy challenges of the twenty-first century. Innovation is critical to economic growth. Regulatory design decisions and, in particular, competition policy and intellectual property regimes can have profound consequences for economic growth. However, remarkably little is known about the relationship between innovation, competition and regulatory policy. Any legal regime must attempt to assess the trade-offs associated with rules that will affect incentives to innovate, allocative efficiency, competition, and freedom of economic actors to commercialize the fruits of their innovative labors. The essays in this book approach this critical set of problems from an economic perspective, relying on the tools of microeconomics, quantitative analysis and comparative institutional analysis to explore and begin to provide answers to the myriad challenges facing policymakers.

Introduction
Part I. Keynotes
1. Information, capital markets, and planned development
an essay Robert Cooter
2. The disintegration of intellectual property Richard A. Epstein
Part II. The Economics of Innovation
3. Regulation of bundling in standards and new technologies Stan J. Liebowitz and Stephen E. Margolis
4. Unlocking technology
antitrust and innovation Daniel F. Spulber
5. Creative construction
assimilation, specialization, and the technology life cycle Marco Iansiti and Greg Richards
Part III. Innovation and Competition Policy
6. Favoring dynamic over static competition
implications for antitrust analysis and policy David Teece
7. Antitrust, multidimensional competition, and innovation
do we have an antitrust-relevant theory of competition now? Joshua D. Wright
8. Section 2 and article 82
a comparison of American and European approaches to monopolization law Keith N. Hylton and Haizhen Lee
Part IV. The Patent System
9. Rewarding innovation efficiently
the case for exclusive rights Vincenzo Denicolò and Luigi Alberto Franzoni
10. Presume nothing
rethinking patent law's presumption of validity Mark Lemley and Douglas G. Lichtman
11. Patent notice and patent design Michael Meurer
Part V. Property Rights and the Theory of Patent Law
12. Commercializing property rights in inventions
lessons for modern patent theory from classic patent doctrine Adam Mossoff
13. Modularity rules
information flow in organizations, property, and intellectual property Henry Smith
14. Removing the property from intellectual property and (intended?) pernicious impacts on innovation and competition F. Scott Kieff
Part VI. Intellectual Property and Antitrust
The Regulations of Standard-Setting Organizations
15. Increments and incentives
the dynamic innovation implications of licensing patents under an incremental value rule Anne Layne-Farrar, Gerard Llobet and Jorge Padilla
16. What's wrong with royalty rates in high technology industries? Damien Geradin
17. Federalism, substantive pre-emption, and limits on antitrust
an application to patent hold-up Bruce H. Kobayashi and Joshua D. Wright.

Advance praise: 'After a century of exponential growth in innovation, we have reached an era of serious doubts about the sustainability of the trend. Manne and Wright have put together a first-rate collection of essays addressing two of the important policy levers - competition law and patent law - that society can pull to stimulate or retard technological progress. Anyone interested in the future of innovation should read it.' Daniel A. Crane, University of Michigan