Podcast
Questions and Answers
Article 101 TFUE and Article 1 LDC prohibit ______, which includes price-fixing and market sharing.
Article 101 TFUE and Article 1 LDC prohibit ______, which includes price-fixing and market sharing.
collusion
Agreements among cement manufacturers to agree on prices are examples of illegal ______ agreements prohibited by Article 101 TFUE.
Agreements among cement manufacturers to agree on prices are examples of illegal ______ agreements prohibited by Article 101 TFUE.
price-fixing
Restricting product availability to manipulate market prices is categorized as setting limitations on production or ______, which is illegal.
Restricting product availability to manipulate market prices is categorized as setting limitations on production or ______, which is illegal.
distribution
When companies divide customer territories to avoid competition, they are engaging in ______ sharing, which is a form of collusion.
When companies divide customer territories to avoid competition, they are engaging in ______ sharing, which is a form of collusion.
Imposing unfair conditions on buyers or suppliers is explicitly forbidden under competition law, as it distorts fair ______ practices.
Imposing unfair conditions on buyers or suppliers is explicitly forbidden under competition law, as it distorts fair ______ practices.
The CNMC or EU Commission can impose fines up to 10% of a company’s global revenue for engaging in illegal ______.
The CNMC or EU Commission can impose fines up to 10% of a company’s global revenue for engaging in illegal ______.
Contracts resulting from ______ are considered void, meaning they are not legally enforceable.
Contracts resulting from ______ are considered void, meaning they are not legally enforceable.
Directive 2014/104/EU allows victims of anti-competitive practices to sue for ______, enhancing private enforcement.
Directive 2014/104/EU allows victims of anti-competitive practices to sue for ______, enhancing private enforcement.
The ability for consumers and rival businesses to sue for damages is known as ______ enforcement, complementing public enforcement by regulatory bodies.
The ability for consumers and rival businesses to sue for damages is known as ______ enforcement, complementing public enforcement by regulatory bodies.
Besides fines and void contracts, ______ enforcement allows consumers and rival businesses to sue for damages caused by collusion.
Besides fines and void contracts, ______ enforcement allows consumers and rival businesses to sue for damages caused by collusion.
Flashcards
Price-fixing agreements
Price-fixing agreements
Agreements to set prices at a certain level, rather than allowing market forces to determine them.
Production or distribution limits
Production or distribution limits
Restrictions on how much of a product is made or how it is distributed to customers.
Market sharing
Market sharing
Dividing up customers or areas among competitors, so they don't compete directly.
Applying unfair conditions
Applying unfair conditions
Making buyers or suppliers accept conditions that are not fair or reasonable.
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Article 1 LDC
Article 1 LDC
The Spanish competition law that bans agreements that prevent, restrict, or distort competition.
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Legal consequences of collusion
Legal consequences of collusion
Fines imposed by CNMC or EU Commission, reaching up to 10% of a company's global revenue, consequences include contracts resulting from collusion being void
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Private enforcement
Private enforcement
Victims of collusion have the right to sue for damages, as granted by Directive 2014/104/EU.
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- Article 101 TFUE and Article 1 LDC (Spanish competition law) prohibit collusion.
- Prohibited activities include price-fixing agreements, such as cement manufacturers agreeing on prices.
- Restrictions on production or distribution, such as limiting product availability, are also prohibited.
- Market sharing, like dividing customer territories, is a form of prohibited collusion.
- Applying unfair conditions to buyers or suppliers is illegal.
Consequences of Collusion
- The CNMC (National Markets and Competition Commission) or EU Commission may issue fines.
- Fines can be up to 10% of the company’s global revenue.
- Contracts resulting from collusion are void.
Private Enforcement
- Directive 2014/104/EU allows victims, including consumers and rival businesses, to sue for damages.
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