From: Forbes
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The actual or potential enforcement of outdated laws, regulations, and common-law legal theories are impeding advancements in specific technologies, such as unmanned aircraft (a.k.a. drones) and autonomous vehicles. Existing federal regulations are incompatible with most uses and types of drones, and those tasked with writing new rules are focused excessively on precaution.
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Innovation arbitrage is a concept regulators like Commissioner Slaughter, as well as her FTC colleagues and the participants in the ongoing competition and consumer protection hearing, must keep in mind. If America is to retain its leadership in technological innovation, regulation at all levels of government must be carefully targeted, risk-based rather than driven by precaution, and focused on encouraging, not punishing, success.
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