Determinants of Patent Litigation in Germany

This paper presents an empirical analysis of the determinants of patent litigation in Germany, based on information from suits filed during the period from 1993 to 1995 at two of the three most important district courts. A control group was formed by selecting a random sample from the population data taken at this period of time. The results of a probit analysis show that relatively valuable patents are more likely to be involved in litigation cases than the average patent. Patents which have survived opposition are more likely to encounter subsequent litigation actions after the granting procedure than patents which have not been opposed. Patent owner?s ability to trade patents with potential infringers and to interact with them repeatedly appears to promote pretrial settlement and to prevent patentees from filing suits. In contrast to results for the U.S., individual patent owners in Germany were found to be no more likely to face litigation than companies. --Patent,Infringement,Litigation,Innovation

WP 89 - Coordination of national social security in the EU

*Abstract* The coordination of the national social security is one of the crucial fields of cooperation between EU Member States. The coordination is based on the principle of application of one legislation at a time in cases of employment being executed in one or more than one Member State. Persons moving within the EU are thus subject to the social security scheme of only one Member State. The rules aim to guarantee equal treatment and non discrimination by the application of the “lex loci laboris” principle. In 2004 the European legislator concluded modernised social security coordination rules (Regulation EC 883/2004) in order to simplify the current rules. The idea was also to limit the number of specific rules for different categories of professional activities. An Implementing Regulation was concluded in April 2009. In this paper the author explores the (possible) complications related to the new rules. The paper consists of an overview of the rules, of the basic changes and of pending questions. At the end a set of recommendations is formulated meant to contribute to the necessary tailor-made solutions. *Samenvatting* De coördinatie van de nationale sociale zekerheidstelsels vormt een cruciaal terrein van samenwerking tussen de lidstaten van de Europese Unie. Die coördinatie is gebaseerd op het uitgangspunt dat slechts één wetgeving van toepassing kan zijn in situaties waarbij in een of meerdere lidstaten gewerkt wordt. EU onderdanen die gebruik maken van het vrij verkeer kunnen zodoende slechts onderworpen zijn aan het sociale zekerheidsstelsel van een lidstaat. De regels dienen de gelijke behandeling te garanderen en discriminatie tegen te gaan door de toepassing van het “lex loci laboris” principe (het werklandbeginsel). De Europese wetgever besloot in 2004 tot een modernisering en vereenvoudiging van de coördinatieregels voor de sociale zekerheid (Verordening EC 883/2004). Achterliggende gedachte was tevens het terugbrengen van het aantal specifieke regels voor verschillende beroepscategorieën. De implementatiewetgeving werd afgerond in april 2009. In dit werkdocument behandelt de auteur enkele (mogelijke) complicaties die kunnen voortvloeien uit de nieuwe regels. De studie geeft een overzicht van de regelgeving, van de belangrijkste veranderingen en van open kwesties. Aan het eind worden aanbevelingen geformuleerd die een bijdrage beogen te zijn voor de noodzakelijke op maat gesneden oplossingen.

Modellierung des Kreditrisikos im Einwertpapierfall

The current financial market crisis has impressively demonstrated the importance of an effective credit risk management for financial institutions. At the same time, the use and the valuation of credit derivatives has been widely criticised as a result of the crisis. Over the past decade, credit derivatives emerged as an important part of credit risk management as these offer a broad range of possibilities to reduce credit risk through active credit portfolio management. This has represented a quantum leap in the further development of credit risk management. Credit risk management, without using credit derivatives, no longer seems to be an appropriate alternative. However, correct valuation of these derivatives is still challenging. The crisis has demonstrated that the issue is less about using credit derivatives than about developing valid valuation techniques. A sound understanding of already existing credit pricing models is necessary for such a development. These models are the key focus of this working paper. --Credit risk pricing models,asset-based models,asset-value models,structural models,intensity-based models,reduced-form models,credit derivatives,credit default swap,pricing,valuation,default spread,risk management,credit portfolio management

Traveling waves of excitation in neural field models

Field models provide an elegant mathematical framework to analyze large-scale patterns of neural activity. On the microscopic level, these models are usually based on either a firing-rate picture or integrate-and-fire dynamics. This article shows that in spite of the large conceptual differences between the two types of dynamics, both generate closely related plane-wave solutions. Furthermore, for a large group of models, estimates about the network connectivity derived from the speed of these plane waves only marginally depend on the assumed class of microscopic dynamics. We derive quantitative results about this phenomenon and discuss consequences for the interpretation of experimental data

Modellierung des Kreditrisikos im Portfoliofall

The current financial market crisis has impressively demonstrated the importance of an effective credit risk management for financial institutions. At the same time, the use and the valuation of credit derivatives has been widely criticised as a result of the crisis. Over the past decade, credit derivatives emerged as an important part of credit risk management as these offer a broad range of possibilities to reduce credit risk through active credit portfolio management. This has represented a quantum leap in the further development of credit risk management. Credit risk management without using credit derivatives no longer seems to be an appropriate alternative. However, correct valuation of these derivatives is still challenging. The crisis has demonstrated that the issue is less about using credit derivatives than about developing valid valuation techniques. A sound understanding of already existing credit pricing models is necessary for such a development. These models are the key focus of this working paper. --Credit risk pricing models,asset-based models,asset-value models,structural models,intensity-based models,reduced-form models,credit derivatives,credit default swap,pricing,valuation,default spread,risk management,credit portfolio management

Release of proteins via ion exchange from albumin-heparin microspheres

Albumin-heparin and albumin microspheres were prepared as ion exchange gels for the controlled release of positively charged polypeptides and proteins. The adsorption isotherms of chicken egg and human lysozyme, as model proteins, on microspheres were obtained. An adsorption isotherm of chicken egg lysozyme on albumin-heparin microspheres was linear until saturation was abruptly reached,\ud \ud The adsorption isotherms of human lysozyme at low and high ionic strength were typical of adsorption isotherms of proteins on ion exchange gels. The adsorption of human lysozyme on albumin-heparin and albumin microspheres fit the Freundlich equation suggesting heterogeneous binding sites. This was consistent with the proposed multivalent, electrostatic interactions between human lysozyme and negatively charged microspheres. Scatchard plots of the adsorption processes of human lysozyme on albumin-heparin and albumin microspheres suggested negative cooperativity, while positive cooperativity was observed for chicken egg lysozyme adsorption on albumin-heparin microspheres.\ud \ud Human lysozyme loading of albumin-heparin microspheres was 3 times higher than with albumin microspheres, with long term release occurring via an ion exchange mechanism. Apparent diffusion coefficients of 2.1 × 10-1 and 3.9 × 10-11cm2/sec were obtained for the release of human lysozyme from albumin-heparin and albumin microspheres, respectively. The release was found to be independent of diffusion, since the rate determining step was likely an adsorption/desorption processes. An apparent diffusion coefficient of 4.1 × 10-12 cm2/sec was determined for the release of chicken egg lysozyme from albumin-heparin microspheres.\ud \ud Low release of the lysozymes from albumin-heparin microspheres was observed in deionized water, consistent with the proposed ion exchange release mechanism. Overall, albumin-heparin microspheres demonstrated enhanced ion exchange characteristics over albumin microspheres

On the Protocol Composition Logic PCL

A recent development in formal security protocol analysis is the Protocol Composition Logic (PCL). We identify a number of problems with this logic as well as with extensions of the logic, as defined in [DDMP05,HSD+05,He05,Dat05,Der06,DDMR07]. The identified problems imply strong restrictions on the scope of PCL, and imply that some currently claimed PCL proofs cannot be proven within the logic, or make use of unsound axioms. Where possible, we propose solutions for these problems

Interpolation of discount factors

This paper deals with the problem of interpolation of discount factors between time buckets. The problem occurs when price and interest rate data of a market segment are assigned to discrete time buckets. A simple criterion is developed in order to identify arbitrage-free robust interpolation methods. Methods closely examined include linear, exponential and weighted exponential interpolation. Weighted exponential interpolation, a method still preferred by some banks and also offered by commercial software vendors, creates several problems and therefore makes simple exponential interpolation a more logical choice. Linear interpolation provides a good approximation of exponential interpolation for a sufficiently dense time grid. --