Order of the New Day: IP Rights in Dynamic Competition
Missing for a while at the U.S. competition agencies has been an appreciation for how competition works in the real world — in particular, discounting the vital part intellectual property plays in sparking new competition and growing the economic pie. It can be easy to lock in a static view of the economic world. Or misdefine “competition,” as Robert Bork noted in The Antitrust Paradox. Fortunately, things are looking up. The Department of Justice’s Antitrust Division is now led by someone steeped both in antitrust and innovation. This breath of fresh air is supplied by U.S. Assistant Attorney General Makan Delrahim.