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Author: Erja Askola Publisher: ISBN: Category : Antitrust law Languages : en Pages : 241
Book Description
This dissertation compares the approaches adopted in the EU competition law and the U.S.antitrust law towards joint ventures. The question is two-fold, including (i) the study of the specific problems raised by the strict conceptualisation of joint ventures under the EU policy, as compared to the U.S; and (ii) the possible insights the U.S. experience could offer in this area. This study demonstrates that the categorical approach in the EU has involved, over time, a number of specific issues that have been avoided in the U.S.. These relate, in particular, to the concepts employed to make the jurisdictional distinction between the mutually exclusive rules for mergers and horizontal agreements, which have caused a number of complications and led to unnecessary forum shopping. These differences are explained and their implications analysed in an attempt to help understand the approaches chosen and to explore how the EU policy could be further developed. It emerges from this comparison that some of the highly technical issues concerning the legal characterization of joint ventures have, over time, reflected more fundamental differences in the enforcement attitude towards industrial cooperation between competitors as compared to mergers, including a different understanding of their effects on competition. This concerns, in particular, the controversial European concentration privilege favoring mergers and concentrative joint ventures over more limited cooperative alliances, whereas the U.S. enforcers have normally treated full integrations more suspect than partial ones. Inspiring from the insights learned by studying the US approach, this dissertation concludes with a recommendation to revisit and clarify the EU approach to joint ventures in two specific areas. First, it calls for an explanation on how the substantive analysis of joint ventures under Article 101 TFEU compares with that of mergers, particularly in relation to the assessment of market power. Second, it suggests that the fate of Article 2(4) EUMR concerning the treatment of spill-over collusion be reconsidered in the current framework, including a clarification of its current function and purpose, if any.
Author: Erja Askola Publisher: ISBN: Category : Antitrust law Languages : en Pages : 241
Book Description
This dissertation compares the approaches adopted in the EU competition law and the U.S.antitrust law towards joint ventures. The question is two-fold, including (i) the study of the specific problems raised by the strict conceptualisation of joint ventures under the EU policy, as compared to the U.S; and (ii) the possible insights the U.S. experience could offer in this area. This study demonstrates that the categorical approach in the EU has involved, over time, a number of specific issues that have been avoided in the U.S.. These relate, in particular, to the concepts employed to make the jurisdictional distinction between the mutually exclusive rules for mergers and horizontal agreements, which have caused a number of complications and led to unnecessary forum shopping. These differences are explained and their implications analysed in an attempt to help understand the approaches chosen and to explore how the EU policy could be further developed. It emerges from this comparison that some of the highly technical issues concerning the legal characterization of joint ventures have, over time, reflected more fundamental differences in the enforcement attitude towards industrial cooperation between competitors as compared to mergers, including a different understanding of their effects on competition. This concerns, in particular, the controversial European concentration privilege favoring mergers and concentrative joint ventures over more limited cooperative alliances, whereas the U.S. enforcers have normally treated full integrations more suspect than partial ones. Inspiring from the insights learned by studying the US approach, this dissertation concludes with a recommendation to revisit and clarify the EU approach to joint ventures in two specific areas. First, it calls for an explanation on how the substantive analysis of joint ventures under Article 101 TFEU compares with that of mergers, particularly in relation to the assessment of market power. Second, it suggests that the fate of Article 2(4) EUMR concerning the treatment of spill-over collusion be reconsidered in the current framework, including a clarification of its current function and purpose, if any.
Author: Nicolas Aguelakakis Publisher: ISBN: Category : Languages : en Pages : 21
Book Description
We analyze a symmetric joint venture in which firms facing external competition collaborate in input production. Under standard regularity conditions, the collaboration leads to higher profits than a horizontal merger, whereas the effect on prices and quantities depends on the form of downstream competition. When firms compete in prices, downstream prices for all firms are higher following a symmetric joint venture than following a merger. The reverse result may obtain under quantity competition. In light of our results regarding profits, we provide reasons why firms might still wish to merge: imperfect information, cost synergies, and organizational asymmetries.
Author: David Dessers Publisher: Die Keure Publishing ISBN: 9048636906 Category : Business & Economics Languages : en Pages : 251
Book Description
The past ten years are characterized by a strong growth in entrepreneurship and the accelerated creation of new businesses offering innovative products and services. The focus of this book is on startups and scaleups intending to scale their business through collaboration with corporates, primarily in the capacity of client or venture partner. No startup or scaleup can go-it-alone entirely and is required to collaborate with other partners to ensure growth. It is crucial for startups and scaleups to think beyond (corporate) venture capital financings and actively use a vast spectrum of corporate partnering arrangements to scale their business. This book thus takes an expansive approach and analyses corporate partnering transactions from a much broader perspective, covering several types of partnering models for collaboration between corporates and startups and scaleups, with a very strong focus on the perspective of the startups and scaleups while engaging in these types of transactions. ABOUT THE AUTHOR David Dessers, Co-founder and Managing Partner of Cresco, is one of the go-to lawyers of the Belgian venture capital scene. David assists entrepreneurs and companies in the design and execution of their plans during all stages of the private company lifecycle, including seed and venture capital funding, acquisitions and dispositions, as well as equity incentive, contracting and intellectual property needs. He frequently represents venture capital funds and corporates in structuring, negotiating and closing investments and divestments in high-growth companies. David furthermore advises clients regularly with respect to complex commercial transactions designed to protect and maximize the value of technology assets, including technology licenses and acquisitions, research and development collaborations, and corporate partnering transactions. He obtained his law degree at the universities of Antwerp and Leuven in Belgium. He also holds an LLM from the universities of Oxford, Hamburg and Rotterdam. David is recommended as leading lawyer by Chambers Global, Chambers Europe, Legal500 and IFLR1000 for Corporate and M&A, Banking, Finance and Capital Markets, and Information Technology. David has given workshops and seminars at leading corporates on a wide variety of topics, including corporate venturing transactions and alliances. He is an active speaker at incubation and acceleration organizations, such as imec.ventures, B-Hive.eu, Watt Factory, Tech Tour, Level Up and Antwerp Management School. David is a founding partner of Cresco, a premier Belgian law firm for entrepreneurs, companies and investors with market-leading capabilities and thorough experience in private equity and venture capital, emerging and growth companies, mergers and acquisitions, technology and innovation counseling, and complex corporate alliances and commercial agreements.
Author: Joel Bleeke Publisher: ISBN: Category : Business & Economics Languages : en Pages : 312
Book Description
Some companies discover the value of cross-border collaborations only after fighting long, head-to-head battles that leave them financially exhausted, intellectually depleted, and vulnerable to the next wave of competition and innovation. Grudgingly they come to recognize the benefits of sharing and trading control, costs, skills, capital, information, technology and access to markets - but only after a heavy price. Now companies can begin to learn the value of collaboration and how to capitalize on strong, flexible alliances by reading Collaborating to Compete. Written by McKinsey & Company's leading international management consultants, this strategic and operational guide provides practical information on how to design effective cross-border alliances-based on hundreds of case studies worldwide that illustrate the common factors that go into winning alliances. The authors argue that successful companies are transferring competence across borders by retaining key managers from acquired companies and by employing other strategies designed to reap the best from both companies in the consolidation. The authors also argue that effective collaboration is based on a long-term sequence of actions and that alliances fail when they're driven by hasty shortsighted goals. The authors highlight key steps in putting together a powerful alliance including: overcoming the resistance to alliances from executives and managers; finding the best structure and partner to meet a given set of goals; building flexibility into your collaboration to permit changes in legal and financial structures; ensuring good, frequent communication between you and your partners; setting up internal mechanisms to resolveconflicts quickly; and rescuing poorly conceived alliances. In reading about the activity of leading companies in the U.S., Japan, and Europe, readers will discover that even acquisitions - once a strictly predatory enterprise - are now taking on a more collaborative color. Drawing on McKinsey's strategies from the Triad, Collaborating to Compete goes on to show why cross-border strategy approaches need to account for the unique regulatory structural, and cultural barriers presented by individual countries and regions. The book shows that by following through on the basic prescription: U.S. companies can "ally for advantage" to open up the once impenetrable Japanese market; Japanese MNCs can successfully move into those complex U.S. markets; U.S., Japan, and other countries can crack the European Economic Community; and European companies can transcend obstacles and make successful U.S. acquisitions. Collaborating to Compete also looks hard at the dramatic restructuring of Europe and Asia and points out how European companies will have to use cross-border acquisitions and alliances to respond to new threats from global and Pan-European competitors.
Author: Zenichi Shishido Publisher: Edward Elgar Publishing ISBN: 1783475048 Category : Business & Economics Languages : en Pages : 321
Book Description
Although they have the potential to create synergies, joint ventures by their nature contain inherent risk. Therefore, each partner in a joint venture needs to incentivize each other in order to maximize its own payoff. Extensive pre-contractual and post-contractual bargaining is essential. This book provides successful bargaining strategies from the point of view of each partner company. Using a game theoretical framework to analyze joint venture strategy, it describes practical and legal issues that arise when creating synergies and incentive bargaining in a joint venture. With a particular focus on intellectual property law, including analysis based on many real cases, the book covers issues relating to creating synergies, corporate law issues of conflicts of interest, and antitrust law issues relating to cooperation between independent companies. Theoretically new and practically useful, Joint Venture Strategies will appeal to academics and practicing lawyers. From a corporate perspective, this book is essential for successful joint venture planning and strategy.
Author: Kalyan Chatterjee Publisher: Springer Science & Business Media ISBN: 9401719446 Category : Business & Economics Languages : en Pages : 157
Book Description
International Joint Ventures: Economic and Organizational Perspectives is the result of a symposium on International Joint Ventures and Strategic Alliances held by the Center for Research in Conflict and Negotiation at Pennsylvania State University. The book gives a cross-disciplinary treatment of the economic and managerial issues affecting joint venture formation, operation and performance, including subjects ranging from the impact of international trade policy to cross-cultural communication on joint venture operations. The volume enriches our understanding of each discipline from the vantage point of the other, building a more complete understanding of joint ventures as a mode of entry into domestic and international markets. Two categories of question are analyzed: issues of importance to the joint potential and actual participants in a joint venture, and issues related to the social effects of joint ventures from the point of view of society as a whole or its agent, the regulator. The questions are addressed using simple theoretical models and conceptual discussions as well as empirical analyses. Audience: Executives, policy makers and scholars of economics, decision analysis, political science and management.
Author: Erja Askola
Author: Erja Askola
Author: Nicolas Aguelakakis
Author: David Dessers
Author: Joel Bleeke
Author: Zenichi Shishido
Author: Kalyan Chatterjee
Author: David C. Mowery
Author: Joint Venture: Silicon Valley Network (Organization)
Author: David J. Teece
Author: Gary P. Pisano