Revamping Innovation and Competition Law

Competition law must adapt to innovation-driven markets. Protecting and promoting innovation is discussed here under the central concept of 'capabilities'. Originally derived from business management studies, the concept highlights firms' ability to adapt, reposition themselves, and exploit market opportunities, yet it has so far received insufficient attention within competition law. The book first identifies market phenomena that diminish innovation. 'Capabilities' must then be redefined, both as a matter of market definition and within public procurement and state aid law. Finally, the challenges of promoting innovation when enforcing competition law are addressed against the backdrop of 'capabilities'.