As a strategy and economics consulting firm, we take on some of the most pressing challenges in technology, economics, and business. To deliver our transformative ideas, we carefully nurture a culture that emphasizes smart risk-taking, genuine insight and a structured way of thinking.
This dynamic culture pushes us to rigorously analyze data, offer unique recommendations, and exceed client expectations. We challenge prevailing assumptions in our work with clients such as Amazon, Facebook, GE, Intel, LinkedIn, Microsoft, Nike, and Oracle. Whether driving innovation, business growth or digital transformation, we apply our past experiences to find new and unexpected ways of doing things.
Our coworkers are passionate about achieving excellence across practices areas including ecosystem strategy, innovation, R&D portfolio planning and process optimization, antitrust, and intellectual property.
Our culture guides us as we strive to do great things. Everyone who joins Keystone becomes a steward of this culture, taking responsibility for who we are and what we become as a firm.
News, Projects and Insights from Keystone's Experts
Hartman opened the firm’s Seattle office in 2015 and continues to have an outsized impact on Keystone's growth working with such Pacific Northwest clients as Amazon, Microsoft, Nike, and Intel.
Learn why the firm's talented, multi-disciplinary staff and network of experts give Keystone its cutting edge.
Keystone's Cedric Garcia outlines the firm’s work applying AI technology to the patent process
Ivy Exec tracks some of the “Best Boutique Consulting Firms You Should Know.”
Global Competition Review
Academic and Economist Susan Athey was a critical contributor and a keynote speaker at the Federal Trade Commission’s third hearing on competition and consumer protection in the 21st century (October 2018).
The Hindu Newspaper
Economic expert Dr. Rohit Chatterjee of Chennai has been appointed in a key position in the U.S.-Based Keystone strategy & economics consulting firm. He will lead the firm’s Tax dispute, computer science and Innovation practices. The company has recently announced that Rohit has been promoted to partner at the firm. The company has praised that he is the first from India to hold this key position in the company. He is a graduate of the D.A.V Boys Senior Secondary School in Gopalapuram.
Keystone Strategy debuts a novel technology to measure trademark infringement by analyzing millions of images in seconds.
Named a ‘Rising Star’ by Consulting Magazine in 2016, Dr. Chatterjee is known for his unique ability to synthesize complex economic, legal, and technology issues, his work in the high-profile Amazon v. IRS dispute in 2014 highlights his ability to develop path-breaking methods of thinking about software and technology and changing the way both are understood in tax proceedings.
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The McCarthy Institute, the world’s preeminent trademark, consumer behavior, and branding institute, will be located jointly in the law and business schools at Golden Gate University in San Francisco.
For the third consecutive year, Keystone Strategy has been ranked on Vault's Top 50 Consulting Firms in North America list grabbing two Top 10 rankings in Innovation and Internal Mobility.
Ivy Exec Webinar
Join Sr. Engagement Manager Megha Mathur and a panel of academic experts from NYU and Cornell as they cover the business benefits of diverse teams. This 50-minute webinar offers insights on how to build, grow and improve diversity at your workplace.
As the technology industry booms, so do the legal battles that surround, shape and support it. Learn about Keystone's work across this complex landscape.
This week we recognize the humor, warmth, and intellect of Dr. Jacob Jacoby. A professor of economics at NYU’s Stern School for over 35 years, Jack was a pioneer in the field of consumer behavior. His death is a huge loss not only for his family but also for the marketing and psychology worlds as well as those of us lucky enough to know him personally and professionally.
We had the honor to partner with Jack on our survey litigation work over the last several years and thought ourselves lucky to work with the industry’s “go to” expert source on topics ranging from patents to dilution surveys. His work served as a foundation for creating unimpeachable surveys that lead to clear measures of consumer perception. Keystone’s consumer behavior and perception work would not be the same without his direct influence.
Dr. Wayne Hoyer, a Keystone expert on consumer behavior and perception litigation and Professor at McCombs School of Business at The University of Texas, Austin, offers this tribute to Jack: “I’ve heard it said that the mark of a great human being is the extent to which he or she has changed the lives of others. This was certainly the case with Jack who was a pioneer in the field of consumer behavior. Over the course of his epic career, Jack became one of the leaders in litigation research and is considered one of the top expert witness in the country, particularly in terms of trademark confusion and deceptive advertising cases.
To me, Jack’s biggest impact came from his training of his doctoral students of which I was one. He was an excellent role model as one of the most very productive researchers in our field who inspired. More importantly, Jack was a great person to work with and pushed all of us to better researchers, colleagues, and students of life. He is and will be deeply missed.”
Insights from a curated selection of tech leaders on how to find, screen and hire the best talent for your company. Keystone's Dr. Rohit Chatterjee contributes his learnings in this Forbes.com article.
Keystone's Dr. Rohit Chatterjee offers insights on why tech leaders should think about transforming their business from product led to a platform business in this Forbes.com article.
Samantha Price has been promoted to partner and is the consultancy’s first-ever female to hold this title. Price joined Keystone in 2011 and has grown her unique practice areas into one of the industry’s largest and most transformative expert groups supporting technology companies in the area of intellectual property, competition and antitrust.
NBC News Bay Area
Lyft agrees but Uber refuses to hand over driver data to the city of San Francisco. Hear from Intellectual Property Law Professor and Keystone Expert David Franklyn who suggests our love affair with new technologies, such as ride-sharing companies, may be at odds with public interest.
CBS News, John Blackstone
Google v Uber settled for $245M just days after the trial started. Hear more on why both companies decided to step away from a lengthy court and PR battle from University of San Francisco Professor and Keystone Expert David Franklyn.
CBS Nightly News, John Blackstone
University of San Francisco Professor and Keystone Expert David Franklyn outlines how the precedent-setting Google v Uber trial may reshape the future of the self-driving car industry, valued at over $1B.
Amazon.co.uk Press Room
Keystone Strategy provided economic analysis to Amazon which detailed its rapid growth in the UK. As a result, the global marketplace just announced the Amazon Academy 2018 programme for sellers which seeks to help boost exports, following the company’s 2.3bn export sales by UK businesses selling on Amazon.
Hear Keystone Co-Founder and Chairman Marco Iansiti discuss the impact of digital transformation and why CEOs no longer fear technology, but rather fear missing out on the potential impact technology could bring to their organizations.
Keystone Strategy Climbs the List of Top 50 Consulting Firms in North America; Included in Vault’s 2018 Top Ranked Firms with Two ‘Top 10’ Placements
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With input from thousands of consultants representing over 300 global consulting firms, learn why our employees think Keystone is a great place to work and build a career.
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Keystone Strategy provided economic and technical support to several testifying experts on behalf of Amazon in the recent $1.5 billion tax transfer pricing dispute with the Internal Revenue Service (IRS) which resulted in a favorable outcome for Amazon.
At Keystone, diversity is a priority, and we've seen the results. Read more about our team members and their experience working with us.
Congratulations to Keystone’s Dr. Rohit Chatterjee named one of Consulting Magazine’s Rising Stars of the Profession for 2017.
by Clint Boulton
CIO Magazine features Keystone Chairman and HBS Professor Marco Iansiti in a new study entitled, “The Digital Business Divide: Analyzing the operating impact of digital transformation." Read the full story and access the study, here:
Keystone Strategy has been named to Vault.com‘s 2017 Top Ranked Consulting Firms in North America with two top 10 placements for both innovation and internal mobility.
Keystone has been ranked a Top 10 Boutique Strategy Consulting firm by IvyExec in their annual consulting firm rankings.
Congratulations to Keystone’s Sam Price who was just named one of Consulting Magazine’s Rising Stars of the Profession for 2016.
by Susanne Schneider
IvyExce.com, August 2015
by Steven Sinofsky and Marco Iansiti
One Strategy which analyzes how a management team tweaked and optimized the fine line between strategy and execution.
Canadian Journal of Economics, Assaf Zimring
Keystone Economist Assaf Zimring’s study offers new insights into modern-day trade patterns as he examines the three key predictions of the Heckscher-Ohlin-Vanek (HOV) model. February 2019
Feng Zhu and Marco Iansiti, Harvard Business Review
This January 2019 article provides the latest insights on the factors that enable digital platforms to fight off competition and grow profits. Professors Zhu and Iansiti draw on their decades of experience studying competitive strategy, network effects and innovation in high-tech industries.
William R. Kerr, Harvard Business School
The global race for talent is on and HBS Professor Kerr uniquely combines insights and lessons from business practice, government policy, and individual decision making. Examining popular ideas that have taken hold and synthesizing rigorous research across fields such as entrepreneurship and innovation, regional advantage, and economic policy. The United States has been the steward of a global gift, and this book explains the huge leadership decision it now faces and how it can become even more competitive for attracting tomorrow's talent.
In collaboration with HBS Professor and Keystone Expert Karim Lakhani, Huawei presented this paper at the 2017 Global Mobile Broadband Forum. November 2017.
This paper explores the market opportunities for large scale UAS adoption, and the role(s) of the communication network operators in the value chain.
By Marco Iansiti and Karim R. Lakhani
Co-authored by Keystone Chairman and HBS Professor Marco Iansiti and HBS Professor and Keystone Expert Karim Lakhani. September-October 2017
Economics Team, Keystone Strategy
Keystone Strategy participated in the 2017 NABE Transfer Pricing Challenge, where our team of economists analyzed the arguments around the Apple vs EU tax case using ecosystem and network effects analysis. View our full presentation here.
By Marco Iansiti and Karim R. Lakhani
Co-authored by Keystone Chairman and HBS Professor Marco Iansiti and HBS Professor and Keystone Expert Karim Lakhani. January-February 2017
by Robert Bock, Karim R. Lakhani, and Marco Iansiti
Co-authored by Keystone Partner Robert Bock, Chairman and HBS Professor Marco Iansiti and HBS Professor and Keystone Expert Karim Lakhani. January 2017
by Dietmar Harhoff (Editor), Karim R. Lakhani (Editor)
by Susanne Schneider
IvyExec.com, August 2015
by Marco Iansiti
Harvard Business Review, June 30, 2015
by David B. Yoffie (Author), Michael A. Cusumano (Author), Keystone Expert and Professor at the MIT Sloan School of Management
by Susan Athey and Joshua Gans
American Economic Review, May 2010; and January 11, 2009 version
by David J. Franklyn, J. Thomas McCarthy and Rogers Schechter
A powerful, encyclopedic tool that clarifies the complex language of this rapidly expanding field. The Third Edition of McCarthy’s Desk Encyclopedia of Intellectual Property is a multifaceted practitioner’s guide of first reference. It defines patent, trademark, and copyright terms of art and uses them in context to better explain each one and the various legal scenarios in which they may be found. The Encyclopedia also analyzes relevant cases and statutes and provides citations to more cases and IP treatises for additional research.
by Susan Athey and Glenn Ellison (September 2010)
This paper considers a dynamic model of the evolution of open source software projects, focusing on the evolution of quality, contributing programmers, and users who contribute customer support to other users. Programmers who have used open source software are motivated by reciprocal altruism to publish their own improvements. The evolution of the open-source project depends on the form of the altruistic benefits: in a base case the project grows to a steady-state size from any initial condition; whereas adding a need for customer support makes zero-quality a locally absorbing state. We also analyze competition by commercial firms with OSS projects. Optimal pricing policies again vary: in some cases the commercial firm will set low prices when the open-source project is small; in other cases it mostly waits until the open-source project has matured.
HBS Working Knowledge, by Marco Iansiti
Harvard Business School Working Knowledge, March 22, 2010
by Susan Athey, Dominic Coey and Jonathan Levin (October 2010)
Set-asides and subsidies are used extensively in government procurement and natural resource sales. We analyze these policies in an empirical model of Forest Service timber auctions. The model fits the data well both in-sample and out-of-sample. Our estimates suggest that restricting entry to small businesses substantially reduces efficiency and revenue, although it does increase small business participation. A bidding subsidy for small business appears to be more effective at achieving distributional goals, increasing revenue and eliminating almost all of the efficiency loss. A small business bidding subsidy also increases the average profits of both large and small firms, compared to a set-aside policy. We explain these findings by connecting to the theory of optimal auction design.
by Gary P. Pisano
Harvard Business School Working Papers, February 10, 2010
by Gary P. Pisano and Roberto Verganti
Harvard Business Review, December 2008
by Alan MacCormack, John Alan David, and Marco Iansiti
Journal of Product Innovation Management, 2008
by David J. Franklyn