Competition Law

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Competition (or anti-trust) law aims to ensure that markets function well for consumers by preserving or encouraging the competitive dynamic of markets. Firms that collaborate to distort competition can be severely penalised, for example when they coordinate terms rather than compete independently for customers. Where market power becomes concentrated into the hands of one or few firms, competition law can intervene to promote competitive outcomes, for example to prevent dominant firms from inducing customers not to deal with smaller rivals. Competition law has gained prominence in recent years given the significant penalties on firms and individuals breaching competition law and the rise in the number of jurisdictions that have adopted competition law regimes. As a result, competition law has crept up the compliance agenda of major corporations that wish to avoid exposure to significant penalties, including on board directors and managers.

The subject has gained prominence in recent years given the significant penalties on firms and individuals breaching competition law, and the rise in the number of jurisdictions that have adopted competition law regimes. As a result, competition law has crept up the compliance agenda on the boards of major corporations. Competition litigation has also increased due to factors such as financing by private litigation funders.

Contents

Introduction to competition law
Anti-competitive agreements, decisions and concerted practices
Abuse of dominance
Enforcement
Horizontal agreements
Vertical agreements
Merger control
Competition law and intellectual property
Legislation