Intellectual property (IP) laws must answer the following two fundamental questions in order to avoid being irrelevant and losing their legitimacy altogether: 1. How can the public interest be enhanced during the process of strengthening IP protection? 2. How can transaction costs for using IP-protected products and services be effectively reduced? In certain cases the refusal to license IP can negatively impact public interests and transaction costs. The ensuing conflict could be resolved by resorting to remedies extraneous to IP law such as competition law, and also to IP-internal remedies, mainly in theform of compulsory licensing.