EU competition law
EU Competition law is the rules which regulate private firms market conduct, in order to prevent anti-competitive effects on the markets and thereby to maintain efficient competition.
EU Competition law contains three pillars: prohibition of anti-competitive agreements (the cartel prohibition), prohibition of abuse of market power (the abuse prohibition) and regulation of mergers and take-overs (Merger Control).
These rules are supplemented both by other Treaty provisions as well as secondary legislation. The rules are of great significance since any firm may be subject to heavy fines and/or liability for damages if infringing them. The maximum fine for infringement may be as high as 10% of a firms annual turnover.
The European Commission plays an active part in enforcing the competition rules.
This page was last modified on 18 January 2018 at 05:53.
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Author: Artis Zelmenis