Competition Law
English Legal System: Competition Law
In the context of the English law, A Dictionary of Law provides the following legal concept of Competition Law : The branch of law concerned with the regulation of *anticompetitive practices, *restrictive trade practices, and abuses of a dominant position (*abuse of a dominant position) or market power. Such laws prohibit *cartels and other commercial restrictive agreements. In the UK the Competition Act 1998 and the Fair Trading Act 1973 contain the legislative provisions. Throughout the EU, Articles 81 and 82 (See *Articles 81; *Article 82) of the Treaty of Rome and regulations made under those provisions contain the legal rules in this area, which constitute EU competition law. Under the de minimis principle, the European Commission has issued a notice that competition rules will be unlikely to apply to agreements affecting trade between member states when the parties to the agreement have a joint market share of 5% or less (10% for *vertical agreements, such as distribution contracts). In the USA competition law is known as antitrust law.
Competition law in Global Commerce Policy
In this regard, competition law is: rules and regulations, also known as antitrust laws, to foster the competitive environment in an economy, partly through the more efficient allocation of resources. The competition laws of most countries deal with four main groups of behaviour by firms: (a) horizontal arrangements (mainly arrangements between firms to maintain and control prices), (b) vertical arrangements (can include exclusive dealing, resale price maintenance, geographical limitations on activities and tied dealing), (c) misuse of market power by monopolies and large firms, (d) and control of mergers and acquisitions to ensure that they do not impair competitive overall conditions in the market. Measures dealing with horizontal and vertical restraints as well as the enforcement of laws concerning them are sometimes called conduct policies. Those dealing with mergers may be known as structural policies. Rules covering these matters are sometimes described as narrow competition policy. Many say that four variables affect the relative strength or weakness of competition laws: (a) scope of application to governmental entities and to government-encouraged or sanctioned conduct of state enterprises and private firms, (b) substantive rules governing specific business practices and arrangements, (c) scope of sectoral coverage and (d) enforcement.[1]
Competition lawin the wold Encyclopedia
For an introductory overview on international trade policy, see this entry.
Resources
Notes and References
- Dictionary of Trade Policy, “Competition law” entry (OAS)
See Also
Hierarchical Display of Competition law
Business And Competition > Competition
Trade > Trade policy > Commercial law
Business And Competition > Business classification > Type of business > Multinational enterprise
Business And Competition > Business classification > Type of business > Joint venture
Agriculture, Forestry And Fisheries > Agricultural structures and production > Regulation of agricultural production > Agriculture-trade relationship
Law > International law > International economic law
Business And Competition > Business organisation > Company law
Business And Competition > Legal form of organisations > Organisation > Consortium
Meaning of Competition law
Overview and more information about Competition law
For a more comprehensive understanding of Competition law, see in the general part of the online platform.[rtbs name=”xxx-xxx”]
Resources
Translation of Competition law
- Spanish: Derecho de la competencia
- French: Droit de la concurrence
- German: Wettbewerbsrecht
- Italian: Norme giuridiche sulla concorrenza
- Portuguese: Direito da concorrência
- Polish: Prawo konkurencji
Thesaurus of Competition law
Business And Competition > Competition > Competition law
Trade > Trade policy > Commercial law > Competition law
Business And Competition > Business classification > Type of business > Multinational enterprise > Competition law
Business And Competition > Business classification > Type of business > Joint venture > Competition law
Agriculture, Forestry And Fisheries > Agricultural structures and production > Regulation of agricultural production > Agriculture-trade relationship > Competition law
Law > International law > International economic law > Competition law
Business And Competition > Business organisation > Company law > Competition law
Business And Competition > Legal form of organisations > Organisation > Consortium > Competition law
See also
- Commercial law
- Multinational enterprise
- Joint venture
- Agriculture-trade relationship
- International economic law
- Company law
- Consortium
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