.
23
Grain Processing Should Apply
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*Key issue: value of infringer’s next-best investment.
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*Equally good non-infringing alternative reduces the competitive royalty to zero.
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*FIRRM (Financial Indicative Running Royalty Model)
–Roy J. Epstein and Alan J. Marcus, “Economic Analysis of the Reasonable Royalty,” 85 J. Patent and Trademark Office Society (July 2003).