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Why competition law ?

Why competition law ?. Economic performance Social welfare Well being of consumers. Perfect competition. Very large number of buyers and sellers all producing identical/homogenous products Consumers have perfect information about products and markets No barriers to entry or exit the market

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Why competition law ?

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  1. Why competition law? Economic performance Social welfare Well being of consumers
  2. Perfect competition Very large number of buyers and sellers all producing identical/homogenous products Consumers have perfect information about products and markets No barriers to entry or exit the market Theoretical model
  3. Barriers to entry Costs Technology Financial Demand Legal barriers
  4. Monopoly Only one producer No substituteproducts Barriers to entry Licences Legal monopoly Natural monopoly
  5. Economyofscale Fixedcosts Variablecosts Marginalcosts Economyofscale
  6. Why is monopolynotgood? Viewandbehaviourofcustomers Natural economicbehaviour Indispensablebusiness partner No competition No innovation Marketeconomy vs. Plannedeconomy
  7. Workablecompetition Imperfectcompetition The best societyhasinvented Lowbarriers to entry Information to consumers Variousschools Competitionpolicy What are goalsofcompetition
  8. Againstcompetition Does it always work? Does it work in all sectors? Nature ofactivity Cuttingcostsmight influence safety No protectionofconsumers Do all countriesneed it ? – matterofpriorities Competition is reality
  9. What is competitionlaw Agreements Abuseofdominance Controlofconcentrations Liberalization State aids
  10. Objectivesofcompetitionlaw Workablecompetition No prevention, restriction or distortionofcompetition Lowprices Goodquality Protectionofconsumers Economicefficirency Protectionofcompetitors ProtectionofSMEs Economicdevelopmentof all geographicalareas Employment Freedomofcontract Competitivness on othermarkets Democraticvalues Protectionofinternalmarket
  11. internal market free movement of goods (Art 28 TFEU) free movement of persons (45-48 TFEU) free movement of capital (63-66) free movement of services and right of establishment (49-62) prohibitionofdiscrimination on groundofnationality– Art 18 competition law (Arts 101-106) state aids (Arts107-109)
  12. Competition law and other areas of law Competition law is public law Unfair competition Contract law/commercial law Criminal law Administrative law Protection of consumers Public procurement Procedure
  13. Competitionlawandrelatedpolicies Competitionlawandeconomics Competitionlawandeconomy Competitionlawandtradeandindustrialpolicy Competitionlawandpoliticalgoals
  14. History of competition law Darcy vs. Allein (Case of monopolies), Court of King’s bench, 1602 US antitrust law Sherman act Clayton act Germany and Japan between WWI and WWII EU (EEC)
  15. ShermanAct "Section 1. Every contract, combination in the form of trust or otherwise, or conspiracy, in restraint of trade or commerce among the several States, or with foreign nations, is declared to be illegal. Every person who shall make any contract or engage in any combination or conspiracy hereby declared to be illegal shall be deemed guilty of a felony, and, on conviction thereof, shall be punished by fine.... Section 2. Every person who shall monopolize, or attempt to monopolize, or combine or conspire with any other person or persons, to monopolize any part of the trade or commerce among the several States, or with foreign nations, shall be deemed guilty of a felony, and, on conviction thereof, shall be punished by fine...."
  16. Contemporary competition law More than 100 jurisdictions International (transnational) competitionlaw EU + EEA Associationagreements Europeancompetitionnetwork Bilateralagreements Internationalcompetitionnetwork
  17. EU competitionlaw Internalmarketcontext Sources TFEU Regulations Notices Guidelines Best practices Decisionsof EC Judgmentsof General court andCourtofJustice AnnualreportsoftheCommission
  18. EU andaccession Utmostimportanceofcompetitionlaw – harmonisation Stabilisationandassociationagreement Importanceofimplementation Practice Administrativecapacity Applicationofeuropeanlawbeforeaccession? Art 74 CroatianCompetitionact
  19. Competitionlaw vs regulation Liberalisation Servicesof general economicinterest Servicesof general interest Art 106/2 TFEU Art 14 TFEU
  20. Enforcementofcompetitionlaw Competitionauthorities Courts Publicenforcement Privateenforcement Art 66 CA Art 67 CA General andsectoralcompetitionlaw
  21. Competitionagency Publicauthority Competitioncouncil Independence, autonomy, no political influence fromexecutivebranch – why? Can it work? Examples appointment
  22. Competencesofcompetitionagency Substantive Procedural General – policyissues Initiationofproceedings ex offo Arts 41-46 CA Collectionofinformation Interimmeasures Imposingoffines
  23. Protectionofpartiesintheproceedings Statementofobjections Rightof access to file Businesssecret Oralhearing Court review
  24. Definition ofundertaking
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