# Innovation policy

`kaal:entity:innovation-policy`

**Status.** derived

This node is assembled mechanically from the 12 claims that carry the concept tag `innovation-policy`. It is a roster of what the corpus says under this term. It is **not** an adjudicated definition: no single statement here has been ruled canonical, and no first-appearance call has been made. Read the claims and judge for yourself.

## Every claim under this term

12 claims across 6 works, 2016 to 2021.

**2016**

- [2831040-011](https://wulfkaal.github.io/claims/2831040-011) [failure/argued] *(failure mode)* -- Introducing a regulatory update where genuine regulatory reform is needed can deteriorate the relationship between regulation and innovation, because innovation driven by changing values and societal norms calls for reform rather than incremental updating.
  > If changing values and societal norms are driving innovation, calling for a regulatory reform, introducing a regulatory update where regulatory reform is needed can deteriorate the relationship between regulation and innovation
  Wulf A. Kaal, Dynamic Regulation for Innovation (2016). SSRN: https://ssrn.com/abstract=2831040
- [2831040-039](https://wulfkaal.github.io/claims/2831040-039) [normative/asserted] -- Rulemaking in the dynamic framework is an integral part of innovation that both supports innovation and curtails it, for innovation's own sake and for the maximization of societal welfare.
  > Rulemaking in the dynamic framework is seen as an integral part of innovation that supports the innovation but also curtails it for its own sake and maximization of societal welfare.
  Wulf A. Kaal, Dynamic Regulation for Innovation (2016). SSRN: https://ssrn.com/abstract=2831040

**2017**

- [2834531-001](https://wulfkaal.github.io/claims/2834531-001) [mechanism/argued] -- The obstacles preventing consumers and entrepreneurs from accessing a workable new technology are frequently not technological limits but human choices embodied in law: legal and regulatory rules prohibit or limit commercial exploitation of, and public access to, new technology.
  > These obstacles are not the result of technological limitations, but human choice. The law — and other regulations — can often prohibit, or otherwise limit, commercial exploitation of, and public access to, new technology.
  Mark Fenwick, Wulf A. Kaal, Erik P. M. Vermeulen, Regulation Tomorrow What Happens When Technology Is Faster Than the Law (2017). SSRN: https://ssrn.com/abstract=2834531
- [2834531-015](https://wulfkaal.github.io/claims/2834531-015) [mechanism/argued] *(failure mode)* -- Because regulators seek to avoid grounds for criticism, they inevitably adopt an overly cautious posture, which is what the precautionary principle amounts to in practice.
  > Avoiding grounds for criticism inevitably results in an overly cautious approach, called the "precautionary principle."
  Mark Fenwick, Wulf A. Kaal, Erik P. M. Vermeulen, Regulation Tomorrow What Happens When Technology Is Faster Than the Law (2017). SSRN: https://ssrn.com/abstract=2834531
- [2834531-016](https://wulfkaal.github.io/claims/2834531-016) [failure/argued] *(failure mode)* -- Regulatory caution produces a systematic disconnect between the regulation of an innovation and the commercial and consumer ability to access it.
  > The result is that, all too often, there is a disconnect between regulation and commercial and consumer access to that innovation.
  Mark Fenwick, Wulf A. Kaal, Erik P. M. Vermeulen, Regulation Tomorrow What Happens When Technology Is Faster Than the Law (2017). SSRN: https://ssrn.com/abstract=2834531
- [2834531-018](https://wulfkaal.github.io/claims/2834531-018) [failure/argued] *(failure mode)* -- Regulatory caution is not neutral: it functions to reinforce the status quo, with the result that new technologies struggle to reach the market in a timely or efficient manner.
  > But such caution merely functions to reinforce the status quo and the result is that new technologies struggle to reach the market in a timely or efficient manner.
  Mark Fenwick, Wulf A. Kaal, Erik P. M. Vermeulen, Regulation Tomorrow What Happens When Technology Is Faster Than the Law (2017). SSRN: https://ssrn.com/abstract=2834531
- [2834531-031](https://wulfkaal.github.io/claims/2834531-031) [normative/asserted] -- Lawmaking and regulatory design need to become more proactive, dynamic, and responsive.
  > Lawmaking and regulatory design needs to become more proactive, dynamic and responsive.
  Mark Fenwick, Wulf A. Kaal, Erik P. M. Vermeulen, Regulation Tomorrow What Happens When Technology Is Faster Than the Law (2017). SSRN: https://ssrn.com/abstract=2834531
- [2939127-034](https://wulfkaal.github.io/claims/2939127-034) [normative/argued] -- Law schools should educate lawyers who add value by helping clients and society adjust to the technological environment rather than lawyers who impose unnecessary or unwise restrictions on it, since such restrictions will not stop technological development anyway.
  > Law schools need to find ways to educate lawyers who can add value in helping clients and society adjust to our increasing technological environment rather than who will create unnecessary or unwise restrictions on it.
  Mark Fenwick, Wulf A. Kaal, Erik P. M. Vermeulen, Legal Education in the Blockchain Revolution (2017). SSRN: https://ssrn.com/abstract=2939127

**2019**

- [3411110-021](https://wulfkaal.github.io/claims/3411110-021) [failure/argued] *(failure mode)* -- Regulators' relative unsophistication about the technology is itself a risk driver, because a poorly informed regulator is likely to over-react and precipitate new or expanded regulation.
  > The relative unsophistication of the regulators and the lack of regulators' understanding of the technology could result in an over-reaction which in turn can precipitate creating new / expanding existing regulations.
  Wulf A. Kaal, Samuel Evans, Blockchain-Based Securities Offerings (2019). SSRN: https://ssrn.com/abstract=3411110
- [3411110-022](https://wulfkaal.github.io/claims/3411110-022) [mechanism/argued] *(failure mode)* -- Regulatory uncertainty produces a chilling effect: because early adopters must apply traditional law to novel instruments and cannot reach a comfortable level of certainty, legacy businesses hold back from adoption.
  > As a result, there is a chilling effect over the industry where legacy businesses are weary to adopt because of regulatory uncertainty.
  Wulf A. Kaal, Samuel Evans, Blockchain-Based Securities Offerings (2019). SSRN: https://ssrn.com/abstract=3411110

**2021**

- [3808852-038](https://wulfkaal.github.io/claims/3808852-038) [design/evidenced] -- Regulatory sandboxes are an instance of regulatory decentralization: by lowering regulatory barriers and costs for testing disruptive technologies while protecting consumers, the regulator fosters innovation in increasingly decentralized products and services.
  > With the sandbox, the regulator aims to foster innovation by lowering regulatory barriers and costs for testing disruptive innovative technologies, while ensuring that consumers will not be negatively affected.
  Wulf A. Kaal, Decentralization and Feedback Effects (2021). SSRN: https://ssrn.com/abstract=3808852
- [3808859-023](https://wulfkaal.github.io/claims/3808859-023) [failure/argued] *(failure mode)* -- Courts expanded software patentability without proof that it would increase innovation, and the result was that corporations filed and acquired thousands of software patents used to strategically undermine competitor projects.
  > What makes things worse, courts decided to increase the protections for software despite lacking proof that additional patentability of software would increase the level of innovation.
  Wulf A. Kaal, Decentralization – Why We Need Technology Infrastructure Upgrades (2021). SSRN: https://ssrn.com/abstract=3808859

## Verify

Every claim above resolves to a record carrying a verbatim source quote, the sha256 of the source PDF, and a preformatted citation. Nothing here asks to be taken on trust.

    curl -s https://wulfkaal.github.io/entities/innovation-policy.md | sha256sum

**Canonical form.** This markdown file is the canonical hashed representation of this entity node. Its sha256 is the content hash.