Competition Law’s Innovation Factor: The Relevant Market in Dynamic Contexts in the EU and the US

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Viktoria H S E Robertson

Competition Law’s Innovation Factor

The Relevant Market in Dynamic Contexts in the EU and the US

Viktoria H S E Robertson

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English

Hart Publishing
26 August 2021

Competition law & Antitrust law

Series: Hart Studies in Competition Law

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.

By: Viktoria H S E Robertson
Imprint: Hart Publishing
Country of Publication: United Kingdom
Dimensions: Height: 234mm, Width: 156mm,
Weight: 540g
ISBN: 9781509954681
ISBN 10: 1509954686
Series: Hart Studies in Competition Law
Pages: 384
Publication Date: 26 August 2021
Audience: Professional and scholarly , Undergraduate
Format: Paperback
Publisher's Status: Active

PART I MARKET DEFINITION AND INNOVATION 1. Introduction I. Innovation and the Relevant Market: The Issues at Stake II. The Parameters of this Study III. The Course of this Study 2. The Functions of the Relevant Market in EU Competition and US Antitrust Law I. The Relevant Product Market under US Antitrust Law II. The Relevant Product Market under EU Competition Law III. The Functions of the Relevant Product Market in the EU and the US: A First Comparative Look IV. No More Antitrust Market Definition? V. Conclusion 3. Innovation and Competition Law I. The Notion of Innovation II. Distinctive Features of Innovative Markets as Challenges for Antitrust Market Definition III. Perspectives on Incorporating Dynamic Competition into Antitrust IV. Conclusion PART II THE INNOVATION FACTOR IN MARKET DELINEATION UNDER EU COMPETITION AND US ANTITRUST LAW 4. Innovative Product Markets I. Innovative Products as a Challenge for Market Definition II. Product Differentiation Based on Innovation III. Innovation and the Time Horizon for Market Definition IV. The Definition of Future Markets V. Conclusion 5. Beyond Marked Definition: Potential Competition, R&D Markets and Innovation Competition I. Potential Competition in Innovative Markets II. The US Innovation Market Approach III. The Emergence of Innovation Competition IV. Conclusion 6. Intellectual Property Rights I. Market Definition and Intellectual Property Rights II. The Move Away from Intellectual Property Rights Seen as Conferring Market Power III. Market Definition in the Presence of Intellectual Property Rights IV. Technology Markets and the Licensing of Intellectual Property Rights V. Standard-Essential Patents and Product Market Definition: Just Another Technology Market? VI. Conclusion 7. Innovative Aftermarkets I. Policy Documents on Delineating Aftermarkets II. The Relationship between Primary and Secondary Markets III. Proprietary Primary Markets and Proprietary Aftermarkets IV. The Special Case of Aftermarkets in Franchises V. Conclusion 8. Platform Markets I. Market Definition in Platforms II. Free Services in Innovative Platform Markets III. Delineating Multi-sided Markets IV. Conclusion 9. Further Issues Concerning Innovation and Market Delineation I. Standard Economic Tests and Innovation II. Innovation and Geographical Market Definition III. Conclusion Conclusions on Part II: Accounting for Innovation When Delineating PART III RECONCEPTUALISING THE LEGAL FRAMEWORK FOR DELINEATING ANTITRUST MARKETS IN DYNAMIC CONTEXTS 10. An Antitrust Framework for Delineating Dynamic Markets I. A Typology for Reconceptualising the Market Definition Framework II. Options for Market Definition Guidance in the Presence of Innovation III. Choosing a Market Definition Framework IV. The Guidance Options as a Way Towards Convergence in Market Definition? V. Conclusion 11. Reflections: Is Market Definition Too Big to Fail – or is it Failing Innovation?

Viktoria H S E Robertson is Associate Professor at the University of Graz.

Reviews for Competition Law’s Innovation Factor: The Relevant Market in Dynamic Contexts in the EU and the US

This is a comprehensive and timely book on an important topic that is often overlooked in the literature … Professor Robertson has made a valuable contribution to the field … For anyone interested in the agency decisional practices, guidelines and case law on market definition in the European Union and the US, this is the go-to resource. -- Thomas Cheng, Faculty of Law, University of Hong Kong * Modern Law Review * The author provides a deep analysis of case-law, law and soft law in order to clarify how the definition of relevant market as we know it may be aligned with the specific characteristics of dynamic markets … an extraordinarily interesting comparative study. -- Antónia Ferreira de Almeida, Universidade Católica Portuguesa * Market and Competition Law Review * A most timely and important book … the planned revision of the 1997 Notice is a complex endeavour, which can significantly benefit from Professor Robertson’s careful reflections. -- Simonetta Vezzoso, Trento University * European Competition and Regulatory Law Review * Viktoria Robertson wrote an insightful book on market definition and innovation, which underpins analyses of both tech monopolization and mergers. -- Friso Bostoen * CoRe Blog *