Rapid technological innovations have challenged the conventional application of antitrust and competition law across the globe. Acknowledging these challenges, this original work analyses the roles of innovation in competition law analysis and reflects on how competition and antitrust law can be refined and tailored to innovation.

The book is warmly recommended to practitioners and academics from both the legal and the economic field. Guido Westkamp, Journal of Intellectual Property Law and Practice . . . Glader offers strong commentary and case explanation, coupled with insightful analysis, in this complex area. . . This book is strong on both the relevant law, and the economics arena in which the law must be applied, and deals equally well with the US and EC principles and practice. Mark Furse, European Competition Law Review The pace and scope of technological change is increasing, but some innovative technologies take years before they give rise to saleable products. Before they do, there is competition in ideas and research, but the ideas cannot be market tested, because there are no products or services to offer to consumers. Competition law, in Europe and the USA, cannot be applied to competition in research for innovation as if it was competition between products. Completely different problems arise and a completely different approach is needed. This book, the first on innovation markets, shows how this new approach has been used by competition authorities on both sides of the Atlantic in a wide variety of cases. It analyses in depth and detail the comparative law and economics of the problems arising from the different stages of these markets . It considers how far conclusions can be drawn about the future and comes to interesting, practical and sensible conclusions. And it avoids both unjustified scepticism and exaggerated enthusiasm about the theories of innovation markets. John Temple Lang, Cleary Gottlieb Steen & Hamilton LLP, Brussels and London; Trinity College Dublin, Ireland and Oxford University, UK This book examines the legal standards and their underlying economic rationale for the protection of competition in the innovation process, in both European competition law and American antitrust law. Apart from relevant regulatory frameworks, the author also reviews a range of case laws, which assess whether a transaction or unilateral conduct would limit market participants incentives and abilities for continued innovation and future competition. At the centre of this study is the innovation market concept. This concept entails the delineation, for purposes of antitrust analysis, of an upstream market for competing R&D. Questions of market definition, the assessment of innovation competition in defined markets, the role of efficiencies in the appraisal of transactions and possible remedies to alleviate anti-competitive effects are also explored. Updating the field of research in light of new developments and broadening and deepening the categorization and analysis of the innovation market area, this book will be of great interest to academics, practitioners and consultants, and also public policymakers.

. . . a must-read for anyone wanting to study tying in more detail. . . the book offers a very thorough analysis of tying, together with some recommended improvements to the way in which tying is currently assessed under the EU and the US antitrust rules. Common Market Law Review Schmidt s Competition Law, Innovation and Antitrust is a superb introduction to the subject of tying arrangements and other bundled sales in high technology markets, principally as they are treated under US antitrust law and EU competition law. Schmidt thoroughly assesses the economics of such arrangements, the benefits they confer and the potential harms they impose, and then gives a positive introduction to the law. This is a comprehensive treatment of its subject and an indispensible aid to the competition law scholar or practitioner. Herbert Hovenkamp, University of Iowa, College of Law, US This innovative book assesses the hotly debated topic of tying from three different perspectives: competition law, economics and intellectual property rights. It highlights the faults and benefits of the current approaches to tying under EC competition law and US antitrust law. In the light of modern economic thinking, the recent review of Article 82 EC, and Sherman Act, Section 2, the author identifies a more economic approach to tying that moves away from the per se illegality label that has so far impinged on tying case law. Hedvig Schmidt recognizes the significance that tying can play on innovation and product development, and thus suggests a new approach which carves out a safe haven for technological integrated products to ensure continuous stimulation of innovation. With comparative assessments and investigations, this book is a must-read for academics specializing in competition law and theory, as well as practitioners and policy-makers of competition law and intellectual property.

In recent years, market definition has come under attack as an analytical tool of competition law. Scholars have increasingly questioned its usefulness and feasibility. That criticism comes into sharper relief in dynamic, innovation-driven markets, which do not correspond to the static markets on which the concept of the relevant market was modelled. This book explores that controversy from a comparative legal perspective, taking into account both EU competition and US antitrust law. It examines the manifold ways in which courts and competition authorities in the EU and US have factored innovation-related considerations into market delineation, covering: innovative product markets, product differentiation, future markets, issues going beyond market definition proper – such as innovation competition, innovation markets and potential competition –, intellectual property rights, innovative aftermarkets and multi-sided platforms. This book finds that going forward, the role of market definition in dynamic contexts needs to focus on its function of market characterisation rather than on the assessment of market power.

Professor Ghidini has long since made himself a worldwide reputation as a leading scholar. He is a profound critic of intellectual property protection that follows rigid property logic, and favours the functionalist competition/innovation logic. Innovation, Competition and Consumer Welfare in Intellectual Property Law is truly enriching reading. Hanns Ullrich, College of Europe, Bruges, Belgium We in the United States have much to learn not only from Gustavo Ghidini s careful analysis of modern trends in the European IP regime but also from his thoughtful development of the thesis that free competition should be understood as the overarching principle guiding both IP protection and what we call antitrust law. Rudolph J.R. Peritz, New York Law School, US and author of Competition Policy in America This authoritative book provides a comprehensive critical overview of the basic IP paradigms, such as patents, trademarks and copyrights. Their intersection with competition law and their impacts on the exercise of social welfare are analysed from an evolutionary perspective. The analyses and proposals presented encompass the features and rationales of a legal field in constant evolution, and relate them to increasingly rapid technological, economic, social and geo-political developments. Gustavo Ghidini highlights the emerging trends that challenge the traditional all-exclusionary vision of IP law and its application. The author expertly combines holistic, evolutionary and constitutionally oriented approaches, with the search for a rebalancing of the IP rights holders positions with citizens and users rights. This book will appeal to academics, scholars and lawyers specializing in the realm of intellectual property, competition and comparative law.

ÔAbbe BrownÕs new work provides a welcome and extremely valuable addition of the human rights dimension to the long standing conflict over essential technologies between intellectual property and competition law.Õ Ð Steven Anderman, University of Essex, UK and University of Stockholm, Sweden ÔMuch has been written on the flexibilities available within the intellectual property system to address development and social needs. This book goes a step further: it explores how greater access to essential technologies can be ensured through human rights and competition law. Although the analysis is focused on UK and the European Union, the book provides valuable insights for assessing the situation in other jurisdictions. The author suggests an innovative approach for courts and legislators to overcome, in the light of public interest considerations, the limits imposed by intellectual property rights. This book is a much welcomed contribution to academic and policy debates on the subject.Õ Ð Carlos M. Correa, University of Buenos Aires, Argentina ÔIntellectual property interacts (or clashes?) with human rights and competition law. The refreshing bit about this book is that a detailed practical approach to the inevitable balancing act is proposed. Abbe Brown explains how a human rights approach is the cornerstone of such a balancing approach and how positive results can be achieved towards unblocking essential technologies. And it can be done in the existing international legal framework, even if the latter could be improved. Well-researched, challenging and interesting reading!Õ Ð Paul Torremans, University of Nottingham, UK ÔAbbe BrownÕs study starts from the assumption that IP right owners, particularly those of innovative technologies, dispose of a disproportionate strong legal position in relation to that of competitors and customers, which is detrimental to society at large. Brown investigates how the power of the IP right owners can be limited by applying existing human rights law and competition law. To that aim it is suggested to widen the legal landscape and to develop a more tripartite substantive approach to IP law, human rights law and competition law. BrownÕs study offers a very welcome new contribution to the literature on the functioning of IP law, by stressing the joint role which competition law and human rights law can play in this respect.Õ Ð F. Willem Grosheide, Utrecht University and Attorney at law, Van Doorne Amsterdam, The Netherlands This detailed book explores the relationship between intellectual property, competition and human rights. It considers the extent to which they can and must be combined by decision makers, and how this approach can foster innovation in key areas for society Ð such as pharmaceutical drugs, communications software and technology to combat climate change. The author argues that these three legal fields are strongly interrelated and that they can be used to identify essential technologies. She demonstrates that in some cases, combining the fields can deliver new bases for wider access to be provided to technologies. The solutions developed are strongly based on existing laws, with a focus on the UK and the EU and the structures of existing forms of dispute resolution, including the European Court of Human Rights and the dispute settlement bodies of the World Trade Organisation. The final chapters also suggest opportunities for further engagement at international policy and activist level, new approaches to IP and its treaties, and wider adoption of the proposals. This timely book will appeal to academics and practitioners in IP, competition and human rights, as well as innovation-related industry groups and access to knowledge, health and environment activists.

This book reviews recent progress in the theory of oligopoly and market leadership and provides new results on the theory of Stackelberg competition and Nash competition with strategic investment under endogenous entry. These theories are applied to models of competition in quantities, prices and to patent races. The results are used to propose a new approach to competition policy and issues of the abuse of dominance.