PRACTICES
We assist clients during all phases of merger and acquisition, including assessing the antitrust risks of a transaction in China; responding to requests from the State Administration for Market Regulation (SAMR); explaining the likely pro-competitive effects of a transaction before SAMR; and raising the anticompetitive concerns for third party. Our experts have extensive experience preparing report and presenting results in front of competition authorities in the United States, the EU, and China. Our experts have deep understanding of merger review process in China and have been retained by the Chinese agency in numerous merger reviews.
Our economic analysis plays a crucial role in a merger review by properly identifying antitrust market, evaluating unilateral and coordinate effect, estimating the likelihood of entry, and evaluating the merger specific efficiency gains.
We recognize the vital importance of technical and quantitative rigor and regularly employ advanced quantitative methods in our report, including critical loss analysis, GUPPI, price market structure regression, econometric estimation of the demand and merger simulation.
我们的专家在经营者集中申报各个环节为客户提供帮助，包括评估交易在中国的反垄断风险、回复国家市场监督管理总局的问题、解释交易有助于竞争的作用、替第三方向反垄断局提出竞争关切等。我们的专家曾向美国、欧盟和中国的反垄断执法机构提交报告，并对中国经营者集中审查非常了解，在多次经营者集中案件中为中国执法机关提供经济学咨询。
We provide economic analysis in evaluating allegations of horizontal monopoly agreements, including price fixing, bid rigging, customer allocation, buyer cartels, and other forms of collusive anticompetitive behavior.
Our experts have extensive experience developing economic models to identify the incentives behind the horizontal agreement, conducting econometric analyses to estimate the “but for” price absence of collusive agreement, calculating the associated pecuniary gains or losses, and evaluating the effective duration and impact of alleged collusive conduct.
Article 17 of Antimonopoly Law offers a non-exclusive list of possible conducts that abuses dominant position, including excessive pricing, predation, refusal to deal, exclusionary conduct, tying in sales, and price discrimination.
We provide economic analysis in an abuse of dominant case by properly defining market, assessing market power and evaluating the economic incentives for the alleged abusive conduct. Our experts have extensive experience before Chinese antitrust enforcement agencies and courts, including the National Development and Reform Commission (NDRC) and the State Administration of Industry and Commerce (SAIC).
Economic theories are constantly evolving on how some of the acts, as described by Article 17 of the AML, may or may not be anti-competitive. We retain strong ties with the academic world, which ensures that our work is conducted with scientific rigor and is informed by the most recent research in economic theory.
Article 14 of the AML prohibits certain vertical agreements including territorial exclusivity, cooperative advertising programs, exclusive dealing, and resale price maintenance.
We assist clients before regulatory agency and court in vertical restraints case by assessing the economic rationales for and effects of such vertical agreements. Our experts have extensive experience in working with regulatory agency and applying a rigorous economic approach to the assessment of vertical agreements.
Our IP practice applies rigorous economic analysis in IP disputes to determine damages from infringement and breach-of-contract claims involving patents, trademarks, copyrights, and trade secrets.
Our analyses include assessments of lost profits on lost sales, price erosion, reasonable royalties, unjust enrichment, and lost business value. We help our clients value IP during selling or licensing negotiations, identify portions of their IP portfolios that have value, develop strategies to manage risk, and use their IP for strategic advantage in the marketplace.
We provide economic, financial, and quantitative analysis for legal disputes and a variety of business matters. Our experts apply economic and econometric techniques to estimate the “but for” profits, prices, earnings, or asset valuations that would have existed absent the alleged conduct.
We then calculate the damages by comparing these values to actual observed profits, prices, earnings, or asset valuations. Our experts also provide a thorough financial analysis to determine the appropriate present value of those losses.