There are many ways to approach innovation including perspectives from policy, management, economics, science and legal and regulatory perspectives. An important aspect of all of these approaches is the innovation/competition nexus. Both innovation and competition are generally seen as desirable because they can lead to new products and services and lower prices. In some contexts, innovation is the primary mode of competition, while in other contexts innovation and competition interact with each other, frequently but not always in mutually reinforcing ways. Unpacking the innovation-competition nexus raises many issues including:

• To what degree and in what ways do economic and social policies and related laws and regulations affect innovation?
• How do other factors, such as management dynamics and export strategies interact with innovation?
• What is the role of patents and other intellectual property in enhancing or restricting innovation and competition?
• How do different modes of government support for R&D affect innovation and competition?
• Are competitive conditions an important determinant of innovation, and how does innovation affect competition?
• What is the relationship between and among the law, innovation, industry standards, global value networks, trade and competition?