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Max Planck Institute for Innovation and Competition, Munich, Room 313

Staged financing of start-ups can be achieved with different investor constellations. One is that companies obtain funding from different investors at different stages. Another is that a deep pocketed investor continues investing in the company across multiple stages, usually as part of a syndicate. The valuation of start-ups is influenced by investor constellations, in particular strategic interactions between outside investors and deep-pocketed insiders. Our theory models the investment choices and valuations of start-ups, deriving advantages and disadvantages of deep pocketed investors. The analysis explains the significance of pro-rata investments, and the role of pre-emptive rights.

Contact person: Felix Pöge

Max Planck Institute for Innovation and Competition, Munich, Room 313

To study how governments can improve the quality of patent screening, we develop an integrative framework incorporating four main policy instruments: patent office examination, pre- and post-grant fees, and challenges in the courts. We show that examination and pre-grant fees are complementary, and that pre-grant fees screen more e ectively than post-grant fees. Simulations of the model, calibrated on U.S. patent and litigation data, indicate that patenting is socially excessive and the patent oce does not e ectively weed out low-quality applications. We quantify the welfare effects of counterfactual policy reforms and show how they depend on the quality of the courts (co-authored with Mark Schankerman).

Contact Person: Dr. Fabian Gaessler

Max Planck Institute for Innovation and Competition, Munich, Room E10

Grimm-Zentrum, Berlin

Max Planck Institute for Innovation and Competition, Munich, Room E10

Professor Richard S. Markovits ist Lehrstuhlinhaber an der University of Texas at Austin. Seine Arbeitsgebiete umfassen das Kartellrecht, Law and Economics sowie das Verfassungsrecht. Das Antitrust Bulletin hat mit dem Heft 2016, issue 1, ein gesamtes Symposiums-Heft dem kartellrechtlichen Wirken von Richard Markovits und seinem Einfluss auf das US-amerikanische Kartellrecht gewidmet. Professor Markovits hat in renommierten Journals publiziert und insbesondere im Jahr 2014 im Springer-Verlag das zweibändige Werk „Economics and the Interpretation and Application of U.S. and E.U. Antitrust Law“.

In seinem Vortrag wird Richard Markovits verschiedene, rechtspraktisch bedeutsame Ansätze zur Beurteilung von kartellrechtlichen Strategien im US-amerikanischen und europäischen Kartellrecht erklären. Zudem wird er das insbesondere in der Fusionskontrolle zentrale Konzept der kartellrechtlichen Marktabgrenzung analysieren und dessen Eignung zur Identifikation von kartellrechtswidrigem Verhalten hinterfragen. Dabei wird er darlegen, dass in der Praxis der US-amerikanischen Kartellbehörden sowie der Europäischen Kommission formal zwar marktbezogene Ansätze verfolgt werden, inhaltlich zu diesen Konzepten jedoch eine Distanz besteht. Anschließend erörtert Professor Markovits die Notwendigkeit, neben Preiswettbewerb auch stärker den Qualitätswettbewerb zu berücksichtigen. Schließlich wird Professor Markovits die „General Theory of Second Best“ vorstellen sowie Schlussfolgerungen für die Berücksichtigungsfähigkeit von Effizienzen im Kartellrecht und der Wettbewerbspolitik ziehen.

Wir bitten um Anmeldung bis zum Dienstag, 4. Juli 2017, bei Frau Delia Zirilli.

Max Planck Institute for Innovation and Competition, Munich, Room 313

US government spending since World War II has been characterized by large investments in defense-related high-tech goods and services and R&D. In turn, this means that the De- partment of Defense (DoD) has had a large role in funding corporate innovation in the US. This paper (i) quantifies the impact of military procurement spending on corporate innovation by publicly listed firms and (ii) shows that DoD impact on innovation was not limited to the winners of defense contracts but instead cascaded through the supply chain of DoD contractors via indirect market size effects, working through firm-to-firm input linkages. We use a database of detailed, historical procurement contracts for all Department of Defense (DoD) prime contracts since 1966. Product-level spending shifts are used as a source of exogenous variation in firm-level procurement receipts. We combine this data with information on the supply chain linkages of publicly listed firms. Our estimates indicate that defense procurement has a positive direct impact on patenting and R&D in- vestment, with an elasticity of approximately 0.07 across both measures of innovation for DoD contractors. Further, our estimates imply that the derived demand for inputs fol- lowing the award of a DoD contract constitutes a large indirect market size effect for the suppliers of DoD contractors. These indirect market size effects in turn induce innovation cascades working up the supply chain. We find that the elasticity of innovation outcomes to indirect DoD market size shocks is about half of that estimated for direct contractors but affects a much larger number of firms, increasing the effect of defense spending on aggregate innovation by at least 20%. (joint work with Vasco M. Carvalho)

Contact Person: Laura Rosendahl Huber

Max-Planck-Gesellschaft, Generalverwaltung, Konferenzraum, Hofgartenstr. 8, München

Zu praktischen Folgen von BGH Fräsverfahren - in welchen Fallkonstellationen sind ggf. sehr zeit- und ressourcenaufwändige Beweiserhebungen zur Aktivlegitimation im Patentverletzungsprozess sachgerecht und in welchen nicht? Theorie und Praxis scheinen derzeit womöglich etwas auseinander zu fallen. In jedem Fall besteht Anlass zur Diskussion.

Prof. Dr. Tilman Müller-Stoy ist Partner bei BARDEHLE PAGENBERG und einer der beiden Leiter der Patent Litigation Group der Kanzlei. Er lehrt Patentrecht an der TU München und der University of Washington School of Law. Er ist ferner Chair des Dispute Resolution Commitee von LESI und ausgebildeter Wirtschaftsmediator (MuCDR).

Seine anwaltliche Praxis ist fokussiert auf Patentstreitsachen in allen technischen Gebieten nebst Lizenzrecht und Technologietransfer. Tilman Müller-Stoy hat besondere Erfahrung in der Koordination länderübergreifender Prozessserien sowie bei der Erstellung, Bewertung, Durchsetzung von und Verteidigung gegen Lizenzprogramme(n) in den Bereichen der Telekommunikation und Elektrotechnik, vor allem auch mit Bezug zu SEPs und FRAND Lizenzen. Er wird seit Jahren in allen wesentlichen Rankings als einer der führenden Rechtsanwälte für Patentstreitsachen in Deutschland empfohlen.

Max-Planck-Institut für Innovation und Wettbewerb, München, Raum E10

Die Deutsch-Russische Juristenvereinigung e.V. veranstaltet in Kooperation mit dem Max-Planck-Institut für Innovation und Wettbewerb die Tagung "Aktuelle Fragen des geistigen Eigentums im deutsch-russischen Rechtsverkehr".

Hier finden Sie die Einladung mit dem Tagungsprogramm und der Referentenliste zum Download

Deutsches Patent- und Markenamt, Zweibrückenstraße 12, 80331 München

As the world we know is changing at an incredible pace, there are predictions that 40 percent of the world’s leading companies will not exist in a meaningful way after the next decade if they do not adequately prepare themselves for this era. Undoubtedly, the fourth industrial revolution is about to create a world in which virtual and physical systems cooperate with each other in a flexible way. It is changing how we work, live and relate to one another – and the very essence of what it means to be humane.

Recognizing this imperative need to discuss and redefine ethical standards and regulations in innovation and the leadership styles required across all sectors, the Max Planck Institute for Innovation and Competition and the World Forum for Ethics in Business in partnership with the European Patent Office, the German Patent and Trade Mark Office and the Peter Löscher Chair for Business Ethics at the Technical University of Munich are organizing the ”Munich Conference Series on Ethics in Innovation.” The first conference will take place from 26-27 June 2017 at the German Patent and Trade Mark Office in Munich and will focus on Information and Communication Technologies with special emphasis on innovations in the digital age, including artificial intelligence, internet of things and big data.

The conference will bring together 300 global thinkers and leading experts from academics, business, politics and NGOs and will address central questions such as:

• Innovation 4.0: Can growth really be the main guiding principle of the fourth industrial revolution? How can we ensure that this revolution is empowering and human-centred, rather than divisive and dehumanizing?
• Leadership 4.0: What type of leadership is needed for organizations to be able to innovate and transform in the speed needed?
• Education 4.0: Can value-based education be an answer to the need for adequate leadership?
• Corporate Social Responsibility 4.0: How can we assure that the fourth industrial revolution does not devour its own children but actually creates shared value?

Confirmed speakers include amongst others Prof. Dr. Ferdi Schüth, Vice President, Max Planck Society, Prof. Dr. Josef Drexl, Director at the Max Planck Institute for Innovation and Competition, Prof. Dr. Christoph Lütge, Peter Löscher Chair of Business Ethics at TU Munich, Sri Sri Ravi Shankar, Founder, World Forum for Ethics in Business, Jo Leinen, Member of the European Parliament, Jaan Tallinn, Co-founder of Skype, Robert Hansor, Director of Global Sustainability Policy and Systems at Huawei Technologies, and Prof. Dr. Luciano Floridi, University of Oxford.

The research linked to the Ethics in Innovation Conference and the World Youth Forum is being conducted by an international team led by Prof. Dr. Josef Drexl, Prof. Dr. Christoph Lütge, Dr. Mrinalini Kochupillai and Dr. Arul Scaria.

The conference is open to the public. For further information, registration and the complete speakers lists visit: http://wfeb.org/ethics-in-innovation-2017/about/

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