Antitrust enforcement involving intellectual property rights - particularly standard-essential patents - continues to receive significant global attention, including most recently by OECD member countries at the June 2019 OECD Competition Committee meetings. This Article provides an economic approach to antitrust analysis of discriminatory licensing, grantbacks and cross-licenses, no-challenge clauses, and so-called “patent thickets.” It also addresses the ex-ante incremental (or “inherent”) value approach for the valuation of standard-essential patents.