What is a value transfer and why does it matter?
Value transfers are a common feature of patent settlement agreements. For example, under a patent settlement agreement, the alleged infringer (often a generic company) may agree to pay damages and/or future royalties to the patentee (if the settlement also results in a licence). Other forms of payment, such as a contribution to the litigation costs of either party, may be made to enable a settlement to be reached. In the context of pay-for-delay agreements, the competition authorities are particularly interested in what are sometimes known as ‘reverse payments’ where value is transferred from…
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