While Technology Standards have obvious benefits, the holders of standard-essential patents (SEPs) can effectively control access and demand royalties far beyond of what is "reasonable and non-discriminatory" (RAND).
In this illustration for Patrick Lane's article I show Standard as a Trolley, whose final destination is unknown. As you can see, the asking price for a ride turns out to be 4 times what the newcomer company was expecting !
The Economist Newspaper, London.
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