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Regulation Tomorrow: Strategies for Regulating New Technologies

In: Transnational Commercial and Consumer Law

Author

Listed:
  • Mark Fenwick

    (Kyushu University)

  • Wulf A. Kaal

    (University of St. Thomas School of Law)

  • Erik P. M. Vermeulen

    (Tilburg University)

Abstract

In an age of constant, complex and disruptive technological innovation, knowing what, when, and how to structure regulatory interventions has become much more difficult. Regulators can find themselves in a situation where they believe they must opt for either reckless action (regulation without sufficient facts) or paralysis (doing nothing). Inevitably in such a situation, caution tends to trump risk. But such caution merely functions to reinforce the status quo and the result is that new technologies may struggle to reach the market in a timely or efficient manner. The solution? Law-making and regulatory design needs to become more proactive, dynamic and responsive. So how can regulators actually achieve these goals? What can they do to promote innovation and offer better opportunities to people wanting to build a new business around a disruptive technology or simply enjoy the benefits of a disruptive new technology as a consumer? The chapter focuses on three possible strategies for ‘regulation tomorrow’.

Suggested Citation

  • Mark Fenwick & Wulf A. Kaal & Erik P. M. Vermeulen, 2018. "Regulation Tomorrow: Strategies for Regulating New Technologies," Perspectives in Law, Business and Innovation, in: Toshiyuki Kono & Mary Hiscock & Arie Reich (ed.), Transnational Commercial and Consumer Law, chapter 0, pages 153-174, Springer.
    • Handle: RePEc:spr:perchp:978-981-13-1080-5_6
    DOI: 10.1007/978-981-13-1080-5_6
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