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Competition should be healthy and fair. It becomes unfair and subject to scrutiny when some firms attempt to drive their competitors out of the market. This is why there comes the need to regulate the anti-competitive behavior by companies. Competition law achieves this purpose and maintains market competition.
Among the member states of the European Union, there is a set of treaties which are known as Treaties of the European Union. Among these treaties is the Treaty on the functioning of the European Union. Article 101 of this treaty prohibits the formation of cartels and other agreements that have the potential of disrupting free competition in the internal market of European Economic Area.
e. “make the conclusion of contracts subject to acceptance by the other parties of supplementary obligations which, by their nature or according to commercial usage, have no connection with the subject of such contracts.”
In the European case Carbon Gas Technologie,1 several companies joined together in an agreement under which they decided to exploit coal deposits in a much efficient manner. They agreed on using these reserves in a manner that is much less harmful to the environment. Some cases, like KSB/Goulds/Lowara/ITT,2 involve only economic elements but they are allowed as they pass a fair share of the benefits on to the consumer. But in the case of ARA, ARGEV, ARO,3 environmental benefits were not discussed under the criterion of fair share for consumers. As far as environmental benefits are concerned, preventive measures are also regarded as contributions to the protection of environment.4 In 1994, the Commission allowed an agreement between Exxon and Shell under which ethylene was no longer required to be transported between the two companies. It was because the transport of ethylene is harmful for the environment. The case of Philips – Osram5 is another example of cases in which reduction of negative externality is taken into
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The principal objective of international laws of economics is to transact and regulate global businesses. Depending on the number of countries, it can be categorised into bilateral or multilateral economic regulation. International economic law is exercised through soft and hard instruments, the former being optional but the latter obligatory.
It will also analyze the application of the law in various case studies and the nature of agreements involved between two parties in a competitive business environment. The paper will additionally address different applications of article 1 (101) TFEU and the extent to which the article appears to be inconsistent with the concurrence of wills.
The other effect of the competition law is to discourage unhealthy practices in the business. It also eradicates the inefficient, incompetent and slow businesses, which do not respond to the changes of present day requirement. The American economy depends on capital and free enterprises.
International treaty can be defined as an agreement under the guidelines of the international law which occurs in the form of a protocol, covenant, or exchange of letters (Hurd). International business law depends on the formation of new treaties, conventions and any other regulations of international businesses.
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.
To protect and encourage effective competition and to prevent the anti-competitive activities of competing firms, the Commission has drawn up many regulations through a bouquet of treaties with other Member States establishing the Communities.
Large private business corporations dominate most of the important sectors of the EU's economy.
The guiding paradigm for evolution of these laws has been the European Social Model. The interface of business and commerce between nations results in fears, real as well as imaginary on competition. These are amplified by monopolies created particularly by public service providers with long entrenched bureaucracies and practices which are difficult to shed in a short period since the formation of the Union.
(ARI) which a US privately-owned company. Both companies are deeply involved in development, manufacture and sale of industrial robots and provide services connected with industrial robots. Industrial robots are envisioned in the future to be
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 competition law is to maintain competition and provide remedy for the breakdown of free
Businesses find themselves in the 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 in ensuring fair play.
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