Donald J. Rosenberg, Executive Vice President, General Counsel, and Corporate Secretary at Qualcomm, delivered an address last month at the Pepperdine Law Review's Symposium, speaking on patent law and the dangers of regulatory capture in the emerging tech sector. The event was sponsored by our Regulatory Transparency Project, and they have adapted the remarks into an excellent podcast. Please enjoy a brief excerpt from the recording, and consider listening to it yourself at the link below.
"How can government regulators and legislators avoid stifling opportunity, function more efficiently, and enact and enforce sensible and effective regulatory schemes? The answer is that regulators must keep in mind that regulation may or may not serve to improve the allocation of resources in a particular industry compared to the outcome in the absence of regulation. Successful identification of a market imperfection is a necessary but not sufficient condition to justify regulation on economic grounds. Once a potential market imperfection has been identified, the proposed regulatory solution must itself survive a rigorous economic cost-based analysis, one that factors in the potential for imperfect regulation and unintended consequences, as well as the effect of alternative solutions that can develop without government intervention."