Peter Drahos, Professor at the Centre for Commercial Law Studies (CCLS), delivered the keynote address at the 50th anniversary celebration of the Max Planck Institute for Innovation and Competition, 12 May 2016. The official ceremony was held in the Imperial Hall of the Munich Residence, Munich and was attended by more than 400 invited guests, including officials, academics, lawyers and judges. The topic of Professor Drahos’ lecture was the relationship between legal ontologies and research directions. On day 2 of the celebrations Professor Peter Drahos made the concluding observations at the Academic Symposium that was held to discuss the Institute’s research activities.