The paper tracks recent developments in the USA and EU competition systems with regards to the different policy tools used to address matters arising from the intersection of IP and competition policies. The analysis compares the enforcement and advocacy efforts carried out by the different antitrust agencies in the US and EU. The paper first traces how different authorities with anti-trust mandate in the US have dealt with the issue balancing the rights of standard essential patent holders versus innovation driven public welfare. Then, the paper looks at how the antitrust authorities are using their antitrust statutes (e.g. Section 5 of the FTA Act, merger review provisions) to tackle IPR related issues that have tenuous connections to competition concerns. All of the above issues have been highlighted with the aim to bring the attention to the spillover effects that these moves may have in the national, transatlantic and international context.