Book excerpt: The new Technology Transfer Block Exemption Regulation (in force from May 1, 2004) signals a profound change in the nature of the regulatory framework for technology licensing under EU competition law. This book examines the new Regulation in detail, placing it in the wider context of: (i) the modernisation reforms of EC competition law; and (ii) the treatment of IP rights over technology more generally. The book also considers the approach to assessment of IP issues set out in the Guidelines that accompany the Regulation; the authors discuss their legal basis and, where appropriate, criticise the approach taken by the Guidelines where the legal basis is unsure.