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Author : Valeria Dardano
Publisher :
ISBN 13 :
Total Pages : 46 pages
Book Rating : 4.:/5 (953 download)
Download or read book Assessing Innovation in Merger Control written by Valeria Dardano and published by . This book was released on 2016 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Kalpana Tyagi
Publisher : Springer
ISBN 13 : 366258784X
Total Pages : 341 pages
Book Rating : 4.6/5 (625 download)
Download or read book Promoting Competition in Innovation Through Merger Control in the ICT Sector written by Kalpana Tyagi and published by Springer. This book was released on 2019-06-21 with total page 341 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book addresses the question of how competition authorities assess mergers in the Information Communication Technology (ICT) sector so as to promote competition in innovation. A closer look at the question reveals that it is far more complex and difficult to answer for the ICT, telecommunications and multi-sided platform (MSP) economy than for more traditional sectors of the economy. This has led many scholars to re-think and question whether the current merger control framework is suitable for the ICT sector, which is often also referred to as the new economy. The book pursues an interdisciplinary approach combining insights from law, economics and corporate strategy. Further, it has a comparative dimension, as it discusses the practices of the US, the EU and, wherever relevant, of other competition authorities from around the globe. Considering that the research was conducted in the EU, the practices of the European Commission remain a key aspect of the content.Considering its normative dimension, the book concentrates on the substantive aspects of merger control. To facilitate a better understanding of the most important points, the book also offers a brief overview of the procedural aspects of merger control in the EU, the US and the UK, and discusses recent amendments to Austrian and German law regarding the notification threshold. Given its scope, the book offers an invaluable guide for competition law scholars, practitioners in the field, and competition authorities worldwide.
Author :
Publisher :
ISBN 13 : 9789290847397
Total Pages : pages
Book Rating : 4.8/5 (473 download)
Download or read book Third Advanced Competition Seminar written by and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: On 15 April 2019, the Florence Competition Programme (FCP) organised its third Advanced Competition Seminar in the context of the 2018/2019 edition of the FCP Annual Training. The seminar focused on the analysis of the main innovation-related theories of harm elaborated in the field of EU merger control, taking into account that the current debate on the matter revolves around the opportunity to change the legal framework in domains where innovation represents a crucial competitive dimension. In particular, speakers observed that the topic is increasingly attracting policy makers' attention, since we are currently witnessing an important consolidation wave, especially in the digital industries, in the USA and, to some extent, in the EU, too. Furthermore, the discussion shed light on the fact that, besides stimulating growth and technological change, innovation is being perceived as an antidote to the accumulation of market power, which is becoming a key parameter of competition in policy discourse and, as a result, it spurred heated discussions on its future evolution. As a matter of fact, while the analytical apparatus for standard price effects has been developed extensively throughout the European Commission's case practice, there exists a substantial lack of both theoretical models and scientific tools that can be used in the assessment of anticompetitive harm when innovation is at stake.
Author : Reinhilde Veugelers
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (839 download)
Download or read book Innovation in EU Merger Control written by Reinhilde Veugelers and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: European Union policymakers have in principle put innovation at the heart of competitiveness, in particular in the Europe 2020 strategy. But in merger control, assessments of the innovation effects of mergers are inadequate, even though mergers and acquisitions can have a significant impact on the development of the structure of an industry, and on its capability to innovate. EU merger control rules include scope for assessing the innovation effects of mergers, but in practice, the European Commission's directorate-general for competition (DG COMP) is not 'walking the talk'. Innovation effects are only assessed when claimed by parties to a merger, and this happens rarely. Where innovation effects have been claimed, they have not been decisive in any case, meaning DG COMP has not considered them important enough to influence its decision. A framework should be put in place that makes the reporting of efficiency-related information by the merging parties mandatory, so that innovation effects can be properly assessed for all mergers. In addition, models can be used to make an assessment of the longer-term innovation effects of a merger, and to help inform decision-making.
Author : Teresa Lorca Morales
Publisher :
ISBN 13 : 9788496860872
Total Pages : 80 pages
Book Rating : 4.8/5 (68 download)
Download or read book Merger Control in the Pharmaceutical Sector and the Innovation Market Assessment written by Teresa Lorca Morales and published by . This book was released on 2008 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt: During the last years, a wave of mergers in the pharmaceutical sector has taken place, not only at the European but also at the global level. Within the pharmaceutical sector (a high-tech sector, with considerable impact on consumer welfare), the concentration operations have some features not encountered in traditional sectors and the main dilemma is the uncertainty about the post-merger results, in terms of R&D output. To avoid this anti competitive lessening in innovation, and consequently, the deterioration of consumer welfare, a tailored Merger Control in the pharmaceutical field is necessary in order to respond to the specific needs of the sector. This demand is addressed by the Innovation Market’ analysis, which studies the merging overlapping pipelines aiming to maintain a level of competition in the R&D market. This is the path to foster the competition in the future product market. The objective of this paper is to present the pertinent application of the “Innovation Market” in the framework of pharmaceutical mergers. Moreover, this thesis will discuss how the American Federal Trade Commission and the European Commission apply the Innovation Market’ analysis, through three different Merger Cases between pharmaceutical undertakings
Author : Mika Oinonen
Publisher : Kluwer Law International B.V.
ISBN 13 : 9041132619
Total Pages : 450 pages
Book Rating : 4.0/5 (411 download)
Download or read book Does EU Merger Control Discriminate Against Small Market Companies? written by Mika Oinonen and published by Kluwer Law International B.V.. This book was released on 2010-01-01 with total page 450 pages. Available in PDF, EPUB and Kindle. Book excerpt: Although the question posed by the title of this book has generated considerable debate, the essential issue remains open and largely blurred. While some believe that there is no so-called 'small market problem', others discern discrimination against small market companies (i.e., companies with a strong position in their home markets but a modest position in the European and global markets) and a consequent need for changes in competition law. The author of this enormously helpful work here sets the stage for meaningful discussion by analysing the EC Merger Regulation's objectives, economic foundations, and application practice to present a reasoned view of the issues that can be considered relevant for such a discussion. Considering their effect on the 'small market problem', the author scrutinizes such factors as the following: the Commission's methodology for delineating relevant markets in merger assessments; unnecessary prohibition caused by overestimation of the market power of small market mergers; erroneous approval of cases that should actually be prohibited; impact of the so-called 'Harvard' and 'Chicago' schools of competition theory and their key policy implications; process-related alternative views of competition and new synthesizing approaches; relevant criteria for a proper analysis of market power; concentration measures and market shares; barriers to entry; price and profitability analyses; and product definition v. geographic definition of markets. In a final chapter, the author presents some tentative conclusions, normative in nature, concerning the problem and the relevant issues relating to it. As the first in-depth analysis of the issues that are actually involved - with its particular diagnosis of the assessment of market power in considering the relevant issues for the problem - this study brings into salience the terms of the debate on the 'problem', and thus takes a giant step forward towards defining what needs to be done. Competition lawyers, policymakers, and academics in Europe and elsewhere will find the discussion of great value.
Author : Manav Chadha
Publisher :
ISBN 13 :
Total Pages : 21 pages
Book Rating : 4.:/5 (13 download)
Download or read book Innovation Competition in EU Merger Control and Its Evolution in DOW/DuPont written by Manav Chadha and published by . This book was released on 2019 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt: The central theme of this paper is to analyse the Commission's approach in assessing the impact of horizontal mergers on innovation incentives of firms with particular reference to merger between US based chemical companies Dow and DuPont. This paper will attempt to show that the Commission has gradually extended the scope of its analysis to innovation competition through various merger decisions and has introduced certain novelties in its traditional innovation theory of harm through Dow/DuPont decision. Further, the author claims that certain changes are required to the current SIEIC theory of harm to work effectively, as the same lacks certainty while dealing with innovation competition.
Author : Catalin Stefan Rusu
Publisher : Kluwer Law International B.V.
ISBN 13 : 9041132597
Total Pages : 306 pages
Book Rating : 4.0/5 (411 download)
Download or read book European Merger Control written by Catalin Stefan Rusu and published by Kluwer Law International B.V.. This book was released on 2010-01-01 with total page 306 pages. Available in PDF, EPUB and Kindle. Book excerpt: Twenty years of experience have inevitably brought to light challenges and tensions in the enforcement of the European merger control system. Some of these challenges have been faced, some have been solved and some remain latent. This very valuable study starts from the proposition that the EU has never fully acknowledged those fundamental challenges which relate to the rationale behind merger control in Europe. The author shows how the Commission's focus on adapting the rules of merger control to the economic realities of the future business environment, although designed with a view to facilitating European integration, has compromised attainment of legal certainty, transparency and welfare enhancement. In its detailed evaluation of the 'future market structure prediction process' embedded in European merger control policy, this book approaches two rock-bottom, far-reaching questions: In what ways does merger control promote consumer and societal welfare? Is the Commission able to correctly predict the outcome of any given concentration transaction? These considerations take the reader through a deep and searching analysis that calls into question the very credibility and transparency of the system, leading to alternatives which promise a new clarity of purpose and procedure. The author describes how these recommendations can be integrated into the functioning framework of the European project. Taken fully into account along the way is a wide spectrum of relevant source material, including the following: applicable articles and chapters of the founding and subsequent European Treaties; secondary European legislation concerning competition and merger activity; domestic competition laws; guidelines, notices and action plans; competition law reviews, statements of intentions; draft legislative attempts; speeches on the enactment and purpose of merger control; Member States' views concerning European merger control as expressed during Council negotiations; officially available concentration-related statistics; and a wide-ranging literature review covering both the legal and economic sides of merger control. Throughout, the author substantiates theoretical assertions with case law examples, clearly exposing doctrines arising from such cases as Continental Can, Phillip Morris/Rothmans and the Airtours, Schneider and Tetra Laval trilogy. A unique feature of the analysis draws on the author's personal experience while working for a Brussels competition law firm. This book is a remarkable compound of academic guide to the roots and rationales of the European Merger Control System, practical guide to the day-to-day intricacies of merger control enforcement, and 'raw' guide for decision makers and merger control law enforcers. It will be of immense value in all three contexts.
Author : Ioannis Lianos
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Agro-Chemical Mega-Mergers and Innovation - Between Competition Law, Regulation and IP Rights written by Ioannis Lianos and published by . This book was released on 2018 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study aims to narrate the context that shaped the competition assessment of the last wave of mega-mergers in the agrochem sector. It first focuses on the propertization of nature and the shrinking of the public domain, before exploring the important game-changer of the gene-editing revolution, and the way its regulation may determine the boundaries of possible competition in this sector. Having defined the broader legal and technological context, the next Section focuses on the main trigger for merger assessment, the increasing consolidation of the agrochem industry. This takes various dimensions, although the strict confines of the merger control assessment led competition authorities to ignore some dimensions (common ownership) for which there is still uncertainty as to their welfare effects, in particular in view of the lack of definitive consensus on what is the optimal market structure for innovation. As previously mentioned, in view of their broader socio-economic implications the agrochem mergers raised the thorny issue of integrating in the merger analysis broader concerns than just price effects. Competition authorities were confronted to the choice between, on one side, a more conventional model focusing on consumer welfare, not one limited to price effects but also taking into account other parameters of competition, such as innovation, and, on the other side, that of a model focusing on the broader public policy effects of the merger transactions. Although, competition authorities made the choice of not directly considering public policy concerns, the approach they adopted in assessing innovation effects hints to an effort to surpass the strict boundaries of the relevant market concept in analysing the effect of these mergers.
Author : Tingting Weinreich-Zhao
Publisher : Springer
ISBN 13 : 9783662525760
Total Pages : 0 pages
Book Rating : 4.5/5 (257 download)
Download or read book Chinese Merger Control Law written by Tingting Weinreich-Zhao and published by Springer. This book was released on 2016-08-23 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: On 1 August 2008 the Chinese Anti-Monopoly Law entered into force, introducing a comprehensive framework for competition law to the Chinese market. One set of the new rules pertains to merger control. China’s Ministry of Commerce (MOFCOM) was nominated as the authority responsible for enforcing merger control in China and has been actively doing so ever since. Recent years have established China as one of the most important merger filing jurisdictions for cross-border mergers alongside the EU and USA. This work evaluates the Chinese merger control law regime and MOFCOM’s decision-making practice after more than five years of application. In particular, it assesses which policy goals (competition policy goals or industrial policy considerations) prevail in the written law and its application and provides suggestions for a further improvement of the law – with the aim to develop a transparent merger control regime that promotes long-term economic growth in China.
Author : Benjamin R. Kern
Publisher :
ISBN 13 :
Total Pages : 42 pages
Book Rating : 4.:/5 (13 download)
Download or read book Empirical Analysis of the Assessment of Innovation Effects in U.S. Merger Cases written by Benjamin R. Kern and published by . This book was released on 2017 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this empirical study all mergers that have been challenged by the U.S. antitrust agencies FTC and DOJ between 1995 and 2008 were analyzed in regard to the question to what extent and how the agencies assessed the innovation effects of mergers. Theoretical background is the still open question how negative effects of mergers on innovation should be taken into account in merger policy. Although we can show in our study that in one third of all challenged mergers also innovation concerns were raised, the results also point to a still existing large degree of uneasiness and inconsistencies of the agencies in regard to the assessment of innovation effects. A particularly interesting result is that - despite the wide-spread rejection of the "innovation market approach" in the antitrust debate - the agencies used more an innovation-specific assessment approach that includes also innovation in the market definition than the pure traditional product market concept. Additionally, we also found significant differences between the assessment approaches of the FTC and the DOJ.
Author : Wolfgang Kerber
Publisher :
ISBN 13 :
Total Pages : 56 pages
Book Rating : 4.:/5 (13 download)
Download or read book Assessing Innovation Effects in US Merger Policy written by Wolfgang Kerber and published by . This book was released on 2017 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: Despite a broad consensus ...
Author : Pablo Ibáñez Colomo
Publisher : Cambridge University Press
ISBN 13 : 1108429424
Total Pages : 389 pages
Book Rating : 4.1/5 (84 download)
Download or read book The Shaping of EU Competition Law written by Pablo Ibáñez Colomo and published by Cambridge University Press. This book was released on 2018-07-12 with total page 389 pages. Available in PDF, EPUB and Kindle. Book excerpt: A ground breaking study of how the interaction between the European Commission and the EU Courts has shaped EU competition law.
Author : E. Cefis
Publisher :
ISBN 13 :
Total Pages : 38 pages
Book Rating : 4.:/5 (11 download)
Download or read book The Role of Innovation in Merger Policy written by E. Cefis and published by . This book was released on 2007 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: Changes in the world’s economies and discussions in the literature about the growing importance of innovation to firms have given rise to a demand for expanding the analysis of merger policy. The present study focuses on the different criteria used to assess the impact of M&A activities on innovation. The analysis is both theoretical and empirical. From a theoretical perspective, two main approaches are discussed: the efficiency defense approach, adopted in Europe, and the innovation markets doctrine as developed in the United States. The present paper contributes to the literature by suggesting that an integration of the two approaches would significantly improve M&A assessment. On the empirical side, two cases that have been scrutinized by both the European Commission and the U.S. Federal Trade Commission are discussed. The results show the relevance of the different approaches used when dealing with innovation in the assessment of mergers.
Author : Ilene Knable Gotts
Publisher :
ISBN 13 : 9781804490952
Total Pages : 0 pages
Book Rating : 4.4/5 (99 download)
Download or read book The Merger Control Review written by Ilene Knable Gotts and published by . This book was released on with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Magdalena Laskowska
Publisher :
ISBN 13 :
Total Pages : 18 pages
Book Rating : 4.:/5 (13 download)
Download or read book A Global View of Innovation Analysis in EC Merger Control written by Magdalena Laskowska and published by . This book was released on 2018 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt: During 20 years of merger control in the EU, no fundamental legal analysis on the treatment of innovation in the European Commission's decisions has ever been performed, and economic literature on technological progress has not thus far been incorporated into legal doctrine. The sound of silence in legal doctrine also speaks a great deal about how the current antitrust regime deals with innovation challenges. This paper can be seen as a legal microcosm, exploring in a very compressed form the major issues of innovation analysis in the Commission's voluminous decisional practice in the field of structural control. First, I attempt to identify the most common patterns of innovation cases. Then, I raise specific problems and challenging questions that repeatedly arise in the Commission's decisions. The global examination of innovation concerns in phase II merger decisions, as presented in this paper, is empirically based on a detailed and exhaustive review of the 155 phase II merger decisions that had been taken by the Commission from the establishment of merger control at Community level in December 1989 to September 2008.
Author : Benjamin R. Kern
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Innovation Markets, Future Markets, Or Potential Competition written by Benjamin R. Kern and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The relevant competitors in regard to innovation might, but not necessarily do, correspond to the identified competitors on actual product markets. Hence, the conventional analysis of product markets, in order to assess the potential anticompetitive effects of mergers, is insufficient to capture innovation competition in its full extent. As a consequence, the aim of this article is to introduce and compare the existing alternative approaches which can, in principle, be used for the assessment of anticompetitive innovation effects in merger review. By focusing on the applied U.S. Antitrust, it turns out that none of the existing approaches seems to be appropriate to fully account for innovation competition. However, the 'Innovation Market Analysis', the first framework especially designed for the assessment of innovation aspects, might still serve as a good starting point for the development of a revised assessment framework.
