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This chapter underscores the importance of maintaining strong patent rights to protect incentives to innovate and ensure U.S. leadership in the 5G developments arena. The chapter covers doctrinal developments reflected in approaches to SEP licensing frameworks by the U.S. focusing on policy statements, agency action (including speeches, statements of interest, and amicus participation), and court rulings over the years. The chapter contextualizes these developments with global advances in the antitrust treatment of patent licensing, also touching on case law in Europe and developments in China. We highlight the potential for more changes to come in the U.S. approach to the intersection of intellectual property (IP) and antitrust law that may, in fact, bring the U.S. more in line with the European approach, specifically surrounding FRAND licensing commitments and negotiation disputes. Throughout, our review of lessons learned to date guides recommendations highlighting the legal and economic principles that should ultimately govern IP and IP-related competition policy in the 5G ecosystem.
This chapter analyses agreements entered during the marriage, including marital agreements meant to affect property rights at divorce or at the death of one of the spouses, agreements meant to respond to spousal bad behavior, and reconciliation agreements.
A vexing problem in contract law is modification. Two parties sign a contract but before they fully perform, they modify the contract. Should courts enforce the modified agreement? A private remedy is for the parties to write a contract that is robust to hold-up or that makes the facts relevant to modification verifiable. Provisions accomplishing these ends are renegotiation-design and revelation mechanisms. But implementing them requires commitment power. Conventional contract technologies to ensure commitment – liquidated damages – are disfavored by courts and themselves subject to renegotiation. Smart contracts written on blockchain ledgers offer a solution. We explain the basic economics and legal relevance of these technologies, and we argue that they can implement liquidated damages without courts. We address the hurdles courts may impose to use of smart contracts on blockchain and show that sophisticated parties' ex ante commitment to them may lead courts to allow their use as pre-commitment devices.
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