Competition law - Essay Example

Comments (0) Cite this document
Summary
Introduction Cartels in whatever form perform acts that is inimical to the interest of the public. It is considered by many including the European Union as band of legitimate bandits preying on the innocent and robbing them blind. Thus, the EU have provided laws that will regulate, monitor the conduct of companies to ensure that cartels are not formed if not to guard against alliances by companies that can be considered as cartels…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER97.2% of users find it useful
Competition law
Read TextPreview

Extract of sample "Competition law"

Download file to see previous pages Due to the influx of complaints that reaches the office of the European Court of Justice, a new accord was passed to devolve the function to the national competition authority and the national courts of each jurisdiction. The new process was formulated to ensure that more focus is given to each complaints and also to ensure that proper monitoring of the conduct of the companies within each jurisdiction is well managed. As it is there are three ways wherein monopolies or cartels can be broken. Through notification where the companies themselves will submit to the regime of the national competition authority the agreements it will enter into with a company within the same industry. The Notification process will certify and state the reason to the National Competition Commission on why the agreement is not in violation of the anti cartel law. The other process wherein attention to the existence of the cartel will be put to the fore is through the initiation of a complaint against the cartel or the companies that make up the cartels. It is normally lodged by consumers acting to preserve and protect its interest against acts by company considered as against public policy. The National Commission itself acting on its behalf and in congruence with its power may investigate and launch its inquiry as to the existence of the cartel. The process enunciated above at first instance can be considered as laudable due to the focused implementation of the law by the National Competition Authority of each jurisdiction. To illustrate: The notification process only provides a prima facie evidence that would make the companies involved in the agreement or alliance. This will pave the way for undocumented gentlemen’s agreement to be hatched in golf courses or similar fora. While more powers are given to the National Competition Authority to assess, rule and provide guidance to companies willing to submit itself to the regime of the NCA, the European Court of Justice have effectively reduced its clout over the TFEU. Legal backGround In 1952, the European Coal and Steel Community (ECSC) was created not only to boost economic growth in Europe in the aftermath of the Second World War but more importantly, to foster lasting peace. This treaty marked the beginning of the free movement of coal and steel and it guaranteed access to sources of production as well as the establishment of fair competition rules and price transparency. Under this Treaty, three cases were identified as hindrance to free trade and fair competition—agreements, concentrations and the abuse of dominant positions thus it explicitly provided that any agreement and undertaking could be nullified or an association could be disbanded if they would likely promote unfair competition or directly or indirectly prevent, restrict or distort free enterprise or fair competition. The European Economic Community (then known as EEC but now referred to as the EC Treaty) pursuant to the Treaties of Rome established the single or common European market on 1 January 1958. Under this Treaty, the free movement of people, goods and services were similarly conferred to achieve the envisioned economic development under the single or com ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Competition law Essay Example | Topics and Well Written Essays - 3750 words”, n.d.)
Retrieved from https://studentshare.org/environmental-studies/1417499-competition-law
(Competition Law Essay Example | Topics and Well Written Essays - 3750 Words)
https://studentshare.org/environmental-studies/1417499-competition-law.
“Competition Law Essay Example | Topics and Well Written Essays - 3750 Words”, n.d. https://studentshare.org/environmental-studies/1417499-competition-law.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Competition law

European Union Competition Law

...? Commercial Law Lecturer Commercial Law Introduction In the recent past, European Union Competition Law has led to vertical agreements being pro-competitive. This follows the aim of the EU Competition law to come up with a single market so as to allow firms from Europe to access new markets including those that had been blocked following government barriers. Such penetration into new markets has proved to be risky as well as time and investment consuming. The process has to be facilitated by EU vertical agreements and guided by the Competition law between the local distributors and the...
7 Pages(1750 words)Essay

Competition Law

...?COMPETITION LAW: CRITICAL ASSESSMENT ON INTELLECTUAL PROPERTY RIGHTS AND/OR INFORMATION TECHNOLOGY Introduction New and innovative products are the lifeblood of business entities or organizations. It has become a sound corporate policy or business strategy to come up with contemporary or modern products—consumer or technology—to increase their bottom-line and ultimately, to eliminate their competition if not corner a substantial segment of the market. There are instances when innovative creations or inventions are necessarily obtained to ensure that the use of the primary product is not only made pleasant but more efficient in terms of cost of ownership. Research and development is...
15 Pages(3750 words)Assignment

Competition law

... Competition Law Question 15 marks) Explain with relevant cases and other ities the nature of an exclusive distribution system. You would explain why such agreements are potentially contrary to article 101 TFEU and why the distributor might insist on having such protection. Distribution agreement is a contract between a manufacturer and a supplier, with terms of the distribution and sale of the products manufactured. The agreement also includes the terms concerning advertisement of the product. The Treaty on the Functioning of European Union 101 (TFEU) was proposed to ensure more efficient enforcement of the (EU) European Union competition systems in the importance of the customers and businesses. An exclusive distribution system... their...
10 Pages(2500 words)Essay

European Competition Law

...?European Competition Law Introduction Establishment of single market in European Union has necessitated uniform competition law regime. Therefore standardization of the statutory framework with regard to competition was introduced. Article 102 of the Treaty on the functioning of European Union (2008) stipulates “Any abuse by one or more undertakings of a dominant position within the internal market or in a substantial part of it shall be prohibited as incompatible with the internal market in so far as it may affect trade between Member States” (Official Journal of the European Union, 2008, C115/89). The abuses consists of unfair purchase or selling...
5 Pages(1250 words)Essay

EC Competition law

...EC Competition law The objective of aid control is, as laid down in the founding Treaties of the European Communities, to ensure that government interventions do not distort competition and intra-community trade. In this respect, State aid is defined as an advantage in any form whatsoever conferred on a selective basis to undertakings by national public authorities. Therefore, subsidies granted to individuals or general measures open to all enterprises are not covered by Article 87 of the EC Treaty and do not constitute State aid1. (a). Article 7 (1) states, 'the following shall be general and fundamental principles of the constitutional order established pursuant to this Treaty'2: The...
3 Pages(750 words)Essay

LLM EC Competition law

...does this not open the door for new businesses to open up in order for supply to meet the demand. Therefore it is questionable whether the current system of law is really dealing with what is economically competitive on economic grounds3. This is even more apparent with Article 82 EC, which deals with identifying what equates to abusive behavior by a company in respect to EC competition law. In order to be abusive under the company must be in a dominant position, which raises a question on the fairness of this article because if a company is not in a dominant position why is it not abusive This seems to be more of a social rather than an economic factor, because it...
3 Pages(750 words)Essay

Working Women and the Vote

2 Pages(500 words)Personal Statement

Competition Law

...Competition Law Introduction Competition law is enacted to regulate anticompetitive conduct by companies. The procedure of regulation encourages fair competition, restricts unfair competition practices and promotes a competition environment, which is equitable. In Russia and China, competition law is known as anti-monopoly law. In the United States, it is known as antitrust law. The implementation of competition law is primarily through private and public enforcement. The pivotal purpose of the...
6 Pages(1500 words)Essay

EU Competition Law

...EU Competition Law Introduction A free market creates a competitive game for business. Businesses find themselves in temptation to avoid competition and create their own rules in the market. Players in the market undertake measures that are meant to outdo small competitors. These unethical practices in the industry have made the European Commission to play a key role of ensuring fair play. It does not allow creation of cartels that make strong firms to control the market in terms of price fixing and removing any form of competition with such competition cartels are able to set high prices for low quality products. These cartels have...
17 Pages(4250 words)Essay

Competition Law in Business

... Answer Cureme is a pharmaceutical company has its trade doing well in Marmara, Turkey. However, the company has decided to open more market for the business by extending the distribution to Black Sea region as well. The firm chooses to offer a different package of agreements depending on the party due to the nature of the business. According to Turkey Competition Act laws, it prohibits distribution agreements that intent on distortion, or restriction of competition either directly or indirectly in a particular market for the goods and services sold. Therefore, the owner must make the intention genuine and not to restrict or distort competition (pp, 1). Answer 2 Ilovemoneyalot, a telecommunication firm has a bigger market share... as...
1 Pages(250 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic Competition law for FREE!

Contact Us