Competition Law Essay

Introduction:

In accordance with the above statement, this essay will examine the nature of the main objectives of competition law and how they are related with Articles 101 and 102 TFEU.

Definition of competition law:

Competition law has always been central element to the EU law. It covers anti-competitive agreements between undertakings, abuse of a dominant position, and mergers. The provisions of competition aimed to create or maintain competitive markets.

The objectives of competition law:

A number of different goals can be pursued by the competitive policy.

The primary objective is to increase efficiency, in the terms of maximising consumer welfare and achieving optimal allocation. Traditional economic theory suggests that goods and

101(2): nullity of agreements, concerted practices. Business can be absurd. They may well have conspired, but they may have destroyed all paper evidence or have never committed anything on paper. Collusion can be real, and the term concerted practice must be able to capture this ‘event’ of working life. However, if the term is interpreted in general terms, parallel pricing that can be caused, natural reaction of businesses in this market. In normal competitive markets, it is unlikely that companies will be pricing at the same level without any collusion, due to differences in cost structures and the

However, the nature of the problem is that, all trade-related conventions impose some constraints, ‘commitment, restrain is their very essence’, nut it would be unreasonable if all contracts fall under competition law. In addition, an agreement may have features that strengthen and restrict competition.

However, if an agreement falls under Article 101 (1), it may be exempted under Article 101 (3), if four conditions are met: it must improve the production or distribution of the goods or promote technical or economic progress; consumers must receive a fair share of the resulting benefit; they should only include the restrictions necessary to achieve the objectives of the agreement; and cannot lead to the elimination of competition for a substantial part of these products. The four conditions are cumulative: all must be met before the discharge is granted. There are individual and group