Competition law allows for fair competition to be maintained between companies and prevents companies taking part in anti-competitive behaviour.
The UK is governed by UK and EU competition laws, and if it’s found that a company has engaged in anti-competitive behaviour, there can be serious consequences. The two common ways in which competition law can be breached is: engaging in anti-competitive agreements; abuse of a dominant market position.
Both can lead to fines for offending companies.
An agreement that is made by companies that restricts or manipulates competition within the EU and UK can be classed as anti-competitive agreements that are prohibited by law.
The types of agreements can include:
If a company holds the dominant position within a particular market, it could act against the spirit of competition to the detriment of competitors and consumers. Just because a company does hold the dominant position does not mean it is breaching competition law, but behaviour that could breach competition law can include:
The consequences for engaging in anti-competitive behaviour like this can include:
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