A Law and Economics Analysis of Trade Secrets: Optimal Scope of Law, Misappropriation and Alternative Damages Regimes

This thesis is primarily based on three core chapters, focused on the fundamental issues of trade secrets law. The goal of this thesis is to come up with policy recommendations to improve legal structure governing trade secrets. The focal points of this research are the following. What is the optimal scope of trade secrets law? How does it depend on the market characteristics such as degree of product differentiation between competing products? What factors need to be considered to balance the contradicting objectives of promoting innovation and knowledge diffusion? The second strand of this research focuses on the desirability of lost profits or unjust enrichment damage regimes in case of misappropriation of a trade secret. A comparison between these regimes is made and simple policy implications are extracted from the analysis. The last part of this research is an empirical analysis of a possible relationship between trade secrets sharing and misappropriation instances faced by firms.

Regulating FinTech: The perspectives of law, economics, and technology

FinTech (financial technology, ‘‘FinTech’’) is a double-edged sword as it brings both benefits and risks. This study appraised FinTech’s technological nature that brings changes in complexity in modern financial markets to identify the information deficits and its undesirable outcomes. Besides, as FinTech is still developing, the information regarding, for instance, whether and how to apply regulation may be insufficient for both regulators and those regulated. More one-size-fits-all regulation might accordingly be adopted, thereby resulting in the adverse selection. Through the lens of both law and economics and law and technology, this study suggested AFR (adaptive financial regulation, ‘‘AFR’’) of FinTech to solve the underlying pacing issue. AFR is dynamic, enabling regulatory adjustments and learning. Exploring and collecting information through experiments and learning from experiments are the core of AFR. FinTech regulatory sandboxes epitomize AFR. This study chose Taiwan as a case study. This study found several barriers to adaptive and effective FinTech regulation. Unduly emphasizing consumer protection and the innovation entry criterion by improperly imposing limits on the entry into sandboxes, ignoring post-sandbox mechanisms, and relying on detailed, specific and prescriptive rules to formulate sandboxes are examples. To solve these barriers, this study proposed several solutions by looking into the experiences in other jurisdictions and analyzing. First, striking a balance between encouraging innovation and ensuring financial stability and consumer protection is indispensable. Second, entry to sandboxes should be facilitated by improving the selection criteria. Third, adhering to realizing regulatory adjustment and learning to adapt regulation to technology, this study argued that systematic post-sandbox mechanisms should be established. Fourth, this study recommended “more principles-based sandboxes”. Principles rather than rules should be the base on which sandboxes or FinTech regulation are established. Having principles could provide more flexibility, being easier to adjust and adapt, and better at avoiding.

La diagnosi genetica preimpianto: argomenti favorevoli e contrari alla sua legittimità

Questa tesi ricostruisce la storia della giurisprudenza italiana che ha riguardato la legittimità o meno dell’impiego della diagnosi genetica preimpianto nell’ambito della procreazione medicalmente assistita, dall’emanazione della legge 40 del 2004 a tutt’oggi. Ed in particolare questa tesi si prefigge due obiettivi: uno, individuare ed illustrare le tipologie di argomenti utilizzati dal giurista-interprete per giudicare della legittimità o meno della pratica della diagnosi preimpianto degli embrioni prodotti, mediante le tecniche relative alla procreazione assistita; l’altro obiettivo, mostrare sia lo scontro fra i differenti argomenti, sia le ragioni per le quali prevalgono gli argomenti usati per legittimare la pratica della diagnosi preimpianto. Per raggiungere questi obiettivi, e per mostrare in maniera fenomenologica come avviene l’interpretazione giuridica in materia di diagnosi preimpianto, si è fatto principalmente riferimento alla visione che ha della detta interpretazione la prospettiva ermeneutica (concepita originariamente sul piano teoretico, quale ermeneutica filosofica, da H.G. Gadamer; divulgata ed approfondita sul piano giusfilosofico e della teoria dell’interpretazione giudica in Italia, fra gli altri, da F. Viola e G. Zaccaria). Così, in considerazione dei vari argomenti utilizzati per valutare la legittimità o meno della pratica della diagnosi preimpianto, i motivi per i quali in ultimo il giurista-interprete per giudicare ragionevolmente, deve ritenere legittima la pratica della diagnosi preimpianto sono i seguenti. I principi superiori dell’ordinamento e talune direttive giuridiche fondamentali dell’ordinamento, elaborate della giurisprudenza, le quali costituiscono la concretizzazione di detti principi e di una serie di disposizioni normative fondamentali per disciplinare il fenomeno procreativo, depongono per la legittimità della diagnosi preimpianto. Le tipologie degli argomenti impiegati per avallare la legittimità della diagnosi preimpianto attengono al tradizionale repertorio argomentativo a cui attinge il giurista, mentre la stessa cosa non si può dire per gli argomenti usati per negare la legittimità della diagnosi. Talune tipologie di argomenti utilizzate per negare la legittimità della diagnosi preimpianto costituiscono delle fallacie logiche, per esempio l’argomento del pendio scivoloso, e soprattutto le tipologie degli argomenti utilizzati per sostenere la legittimità della diagnosi preimpianto sono per lo più caratterizzate dalla ragionevolezza ed applicate per lo più opportunamente. Poi, si può osservare che: determinati argomenti, associati dal giurista-interprete ai principi i quali depongono per l’illegittimità della diagnosi preimpianto, facendo leva sulla categoria della possibilità, ed equiparando attualità e possibilità, privilegiano l’immaginazione alla realtà e portano a risultati interpretativi non razionalmente fondati; mentre gli argomenti associati dal giurista-interprete ai principi i quali depongono per la legittimità della diagnosi preimpianto, facendo leva sulla categoria della attualità, e tenendo ben distinte attualità e possibilità, privilegiano l’osservazione della realtà e portano a risultati razionalmente fondati.

The abuse of intellectual property rights and regulations in China: a law and economic analysis

From the institutional point of view, the legal system of IPR (intellectual property right, hereafter, IPR) is one of incentive institutions of innovation and it plays very important role in the development of economy. According to the law, the owner of the IPR enjoy a kind of exclusive right to use his IP(intellectual property, hereafter, IP), in other words, he enjoys a kind of legal monopoly position in the market. How to well protect the IPR and at the same time to regulate the abuse of IPR is very interested topic in this knowledge-orientated market and it is the basic research question in this dissertation. In this paper, by way of comparing study and by way of law and economic analyses, and based on the Austrian Economics School’s theories, the writer claims that there is no any contradiction between the IPR and competition law. However, in this new economy (high-technology industries), there is really probability of the owner of IPR to abuse his dominant position. And with the characteristics of the new economy, such as, the high rates of innovation, “instant scalability”, network externality and lock-in effects, the IPR “will vest the dominant undertakings with the power not just to monopolize the market but to shift such power from one market to another, to create strong barriers to enter and, in so doing, granting the perpetuation of such dominance for quite a long time.”1 Therefore, in order to keep the order of market, to vitalize the competition and innovation, and to benefit the customer, in EU and US, it is common ways to apply the competition law to regulate the IPR abuse. In Austrian Economic School perspective, especially the Schumpeterian theories, the innovation/competition/monopoly and entrepreneurship are inter-correlated, therefore, we should apply the dynamic antitrust model based on the AES theories to analysis the relationship between the IPR and competition law. China is still a developing country with relative not so high ability of innovation. Therefore, at present, to protect the IPR and to make good use of the incentive mechanism of IPR legal system is the first important task for Chinese government to do. However, according to the investigation reports,2 based on their IPR advantage and capital advantage, some multinational companies really obtained the dominant or monopoly market position in some aspects of some industries, and there are some IPR abuses conducted by such multinational companies. And then, the Chinese government should be paying close attention to regulate any IPR abuse. However, how to effectively regulate the IPR abuse by way of competition law in Chinese situation, from the law and economic theories’ perspective, from the legislation perspective, and from the judicial practice perspective, there is a long way for China to go!

The Law and Economics of Eco-labels

Eco-labels and certification are one of the many environmental policy tools that have been under scrutiny in recent years. This is because the damages of environmental degradation are becoming more apparent over time. Hence there is a pressure to come up with tools that help solve even small parts of the problem. Eco-labels have been around for over 30 years. However the market, the environment and eco-labels have changed drastically during this period. Moreover, in the last 5 years there has been a sudden increase in eco-labels making them more visible in the market and to the average consumer. All this has made evident that little is known about the effectiveness of eco-labels as environmental policy tools. Hence, there is a call to find answers regarding the actual effects of eco-labels on the market and on the environment. While this work cannot address whether eco-labels have an environmental impact it addresses the effects of eco-labels on the markets. Moreover, this work aimed to find the role of law in eco-labelling. In addition, it aims to find a legal solution that would improve the performance of eco-labelling and certification.

Essays on the Economic Analysis of Tort Law

The analysis of tort law is one of the most influential and extensively developed applications of the economic approach in the study of law. Notwithstanding the exhaustive number of contributions on tort law and economics, several open questions remain that warrant further investigation. The general aim of this research project is to refine the traditional model of tort law in order to make it more realistic, updated with the recent technological progress and in line with the experimental results concerning prosocial behavior. This book is divided into six chapters: Chapters 1 and 6 provide an introduction and conclusions, respectively, while the remaining chapters are written in the form of separate yet related articles.

Regulating Vertical Agreements: A Comparative Law & Economics analysis of Brazil and Europe

This PhD thesis discusses antitrust enforcement of anti-competitive vertical agreements in Europe and in Brazil from an institutional perspective. It considers both the evolution of the legal framework and the application of the existing policies, with the analysis of case studies. The research highlights the main challenges of the current approaches adopted by the competition authorities in these jurisdictions and formulates specific proposals for future improvements. Because the Brazilian competition rules were originally inspired by the European legal framework, this thesis also summarizes the contemporary discussions regarding comparative law and the efficiency of transplanting laws and good practices. In a Law & Economics perspective, vertical agreements have always been a paradoxical topic and constitute one of the most dynamic disputes for antitrust enforcement. The reason for that concern is the fact that those contracts among companies are complex in nature. Taking into account this background, the thesis provides an original analysis of the pro- and anti-competitive effects of vertical agreements, based on the classical literature of Law & Economics. One of the novelties of the research is the extension of the economic analysis of vertical agreements to also consider new forms of contractual abuses in the context of digital markets, such as the contractual restrictions that are being put I practice in e-commerce platforms. The international comparative approach focuses on the Brazilian and European experiences, and opens up a reflection about the policy recommendations applied to several countries with similar economic and institutional realities.