The modern US economy relies heavily on industry standards which are often created through cooperative industry efforts with standard-setting organizations such as UL, NEMA, IEEE, IEC, and ANSI, amongst others. These standards rely heavily upon patents and intellectual property. The patent owners have a right to be compensated for the use of their intellectual property, along with the right to deny the use of the IP, because they have a government-sanctioned monopoly. Therefore, the patent owners hold a great deal of power over established industry standards and over changes to those standards.
To change an established standard to avoid a patent dispute can be very expensive. The patent owner has a right to block movement in industries without a fair payment to the patent owner, because it is not always possible to change the standard to avoid the patent. This Webinar discusses the dynamics of standards and patents and how these interactions might end up with antitrust implications.
Licensing Executives Society (USA & Canada)
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