What is competition law?
September 29, 2016
Competition puts businesses under constant pressure to offer the best possible range of goods at the best possible prices, because if they don't, consumers have the choice to buy elsewhere. In a free market, business should be a competitive game with consumers as the beneficiaries.
Sometimes companies try to limit competition. To preserve well-functioning product markets, authorities like the Commission must prevent or correct anti-competitive behavior. To achieve this, the Commission monitors:
- agreements between companies that restrict competition
- abuse of a dominant position
- mergers (and other formal agreements whereby companies join forces permanently or temporarily)
- efforts to open markets up to competition
- financial support (state aid) for companies
- cooperation with national competition authorities in EU countries
> CLICK FOR FULL ARTICLE from the European Commission on Competition <