Does the Google Book Settlement Create an Orphan-Works Monopoly?

Randal C. Picker (Chicago) address three issues that raise antitrust and competition policy concerns in The Google Book Search Settlement: A New Orphan-Works Monopoly? [SSRN]:

First, the agreement calls for Google to act as agent for rights holders in setting the price of online access to consumers.

Second, and much more centrally to the settlement agreement, the opt out class action will make it possible for Google to include orphan works in its book search service

Third, there is a risk that approval by the court of the settlement could cause antitrust immunities to attach to the arrangements created by the settlement agreement.

Hat tip to Christine Corcos (LSU), Media Law Prof Blog. [JH]