We focus on downstream uses of intellectual property (IP) that combine multiple rights and examine the effects of introducing an IP clearinghouse. We identify the two sometimes conflicting functions of clearinghouses: transaction cost reductions and coordination. We show that reduced transaction...

Copyright violations are subject to both civil and criminal sanctions, but criminal charges are relatively rare. Using a theoretical model, this study compares the implications of civil and criminal penalty schemes from the viewpoint of social welfare, where civil and criminal schemes are...