并购反垄断审查中的创新影响分析  

Analysis of the Impact of Innovation in Merger and Acquisition Antitrust Review

作　　者：方翔 Fang Xiang

机构地区：[1]苏州大学王健法学院

出　　处：《法学》2024年第8期157-175,共19页Law Science

摘　　要：经济学研究表明企业并购会影响创新,反垄断法的并购审查制度应在既有的竞争影响评估中融入创新影响分析,而其关键在于构造创新竞争损害理论。考察国内外理论与实践可以发现,创新竞争损害理论历经了两个发展阶段,具象化为内部创新竞争减损、外部创新竞争减损和整体创新竞争减损三种损害类型。但是,反垄断执法机构要体系化、制度化评估并购的创新影响,还须依循以下思路建构基本分析框架:首先,根据并购主体重叠的创新领域等情况开展创新筛查,在界定相关市场时重点明确创新所影响的当前市场及未来市场范围;其次,依照并购影响创新的不同方式,区分“现有产品—管线产品”“管线产品—管线产品”“研发管线—研发管线”三种并购类型,并有侧重地分析是否存在前述创新竞争损害类型;最后,对于企业可能主张的创新效率抗辩,审查是否满足能够传递给消费者、为并购所特有和可验证性三个条件。Economic research shows that M&A affects innovation,and the M&A review system of antimonopoly law should incorporate the analysis of the impact of innovation into the existing competition impact assessment,and the key lies in the construction of the theory of innovation competition harm.Examining domestic and international theories and practices,the theory of innovation competition harm has gone through two stages of development and has been materialised into three types of harm:internal innovation competition harm,external innovation competition harm,and overall innovation competition harm.However,for anti-monopoly enforcement agencies to systematically and institutionally assess the innovation impact of M&A,a basic analytical framework must be constructed along the following lines:Firstly,innovation screening is carried out for areas of innovation where M&A subjects overlap,with a focus on clarifying the scope of the current and future markets affected by the innovation when defining the relevant markets.Secondly,the three types of M&A,namely“product-to-pipeline product”,“pipeline product-to-pipeline product”,“pipeline project-to-pipeline project”,are differentiated according to the different ways in which M&A affect innovation,and analysed with emphasis on the existence of the aforementioned types of innovation competition harm.Finally,when firms assert the innovation efficiency defence,the following three conditions need to be examined:whether it can benefit consumers,be merger specific,and be verifiable.

关 键 词：并购反垄断审查 创新影响分析 创新竞争损害理论 创新效率抗辩 

分 类 号：D922.294[政治法律—经济法学]