OVERVIEW
Competition law promotes or seeks to maintain market competition by regulating anti-competitive conduct by companies, and is implemented through public and private policies.
Competition encourages companies to offer consumers goods and services at the most favourable terms. It encourages efficiency and innovation and reduces prices. To be effective, competition requires companies to act independently of each other, but subject to the competitive pressure exerted by the others.
As such, any business – whatever its legal status, size and sector – needs to be aware of competition law, so that it can meet its obligations and avoid the penalties mentioned above), but also so it can assert its own rights and protect its position in the marketplace.
In the UK two sets of competition rules currently apply at the same time. Anti-competitive behaviour is specifically prohibited, both by domestic legislation and EU law.
Both UK and EU competition law prohibit two main types of antitrust activity, respectively anti-competitive agreements and abuse of a dominant market position.
Anti-competitive agreements are agreements between two or more independent market operators which restrict competition. These can be horizontal agreements (between actual or potential businesses operating at the same level of the supply chain) or vertical agreements (between businesses operating at different levels).
A business abuses of its dominant market position, for example, by charging unfair prices, by limiting production, or by refusing to innovate to the prejudice of consumers.
With UK set to keep in place the current competition law regime even after January 2020, businesses whose activities may affect trade within the EU will remain subject to EU competition law.
Our Competition, EU and Trade practice covers a wide range of aspects of competition law. Moreover, we are used to handling complex competition law matters that require deep technical knowledge.
For enquiries related to our legal services, please do not hesitate to contact us.
OUR AREAS OF WORK INCLUDE:
• compliance and risk management;
• sector regulation, monopolisation and market investigations;
• antitrust and intellectual property;
• international trade law;
• restrictive agreements, exempting agreements;
• competition law and commercial agreements;