Law & Competition: Lesson 1 Overview

Economic activities by companies that damage competition in the market.

Laws aiming to ensure fair and healthy competition in the market. It includes both Antitrust and Unfair Competition laws.

Competitive practices that are unfair but not necessarily anticompetitive. They are actions that go against ethical and fair conduct standards.

Deals with unfair competitive behavior that falls short of harming competition, such as using misleading advertising or stealing trade secrets.

The right of individuals to freely engage in economic activity, protected by the Spanish Constitution.

Prohibits agreements between companies that restrict competition, such as price fixing or market sharing.

Prevents companies with a dominant market position from abusing their power, like charging unfair prices or excluding competitors.

Regulates mergers and acquisitions between companies to ensure they don't create monopolies that stifle competition.

Limits the amount of financial support governments can give to companies, preventing unfair advantages over competitors.

The primary aim is to protect the competitive process, not individual competitors, and ensure that unfair practices are prevented, allowing for competitive harm that does not violate EU rules.

An economic system where prices are determined by the interaction of supply and demand, based on the idea that the market naturally regulates itself.

A theoretical model where there are many buyers and sellers, identical products, and perfect information. Prices are set purely by competition, and there's no room for businesses to control prices.

Real markets are messy and don't always perfectly reflect theoretical models. This leads to situations where a few powerful entities control prices, leading to unfair market conditions.

A situation where a single company controls the entire supply of a product or service, giving them significant pricing power.

A company that benefits from having substantial market power, allowing them to charge higher prices and gain profits not possible in a competitive market.

Actions taken by businesses to eliminate or restrict competition, such as price fixing or mergers that create a monopoly.

Actions that violate the principles of fair competition, such as misleading advertising, predatory pricing, or using unfair methods to outcompete rivals.

A regulation implementing rules on competition laid down in Articles 81 and 82 of the Treaty (101 and 102 TFEU), aiming to ensure fair market practices within the European Union.

A regulation outlining the procedure for Commission investigations and decisions pursuant to Articles 81 and 82 of the EC Treaty (101 and 102 TFEU), ensuring transparency and fairness in competition investigations.

Regulations granting automatic exemption from antitrust rules for certain types of agreements, simplifying compliance for businesses.

Regulations that focus on specific business sectors, tailoring competition rules to their unique characteristics.

A regulation that applies Article 101(3) of the Treaty on the Functioning of the European Union to categories of vertical agreements, allowing for exemptions under specific conditions.

A collection of guidelines that provide practical advice on the application of Article 101 of the Treaty on the Functioning of the European Union to horizontal cooperation agreements, offering clarity for businesses.

A regulation that applies Article 101(3) of the Treaty on the Functioning of the European Union to certain categories of research and development agreements, allowing for exemptions under specific conditions.

A regulation that applies Article 101(3) of the Treaty on the Functioning of the European Union to certain categories of specialization agreements, allowing for exemptions under specific conditions.

European Union regulation aiming to harmonize state laws on unfair commercial practices between businesses and consumers (B2C).

EU regulation aiming to harmonize state laws on misleading and comparative advertising in both business-to-business (B2B) and business-to-consumer (B2C) relationships.

EU regulation specifically designed to address unfair trading practices in the agricultural and food supply chain, particularly in business-to-business (B2B) relationships.

The European Commission monitors and enforces EU competition laws, aiming to ensure fair competition within the EU.

A key criterion for applying EU antitrust law: the agreement or practice must have a noticeable influence, direct or indirect, on the pattern of trade between EU countries.

EU guidelines explaining the concept of 'effect on trade' within the context of Articles 81 and 82 of the Treaty, crucial for understanding the reach of antitrust law.

EU legislation aimed at defining conditions under which technology transfer agreements are considered legal and not in breach of antitrust principles.

EU document providing guidelines on applying Article 101 of the Treaty on the Functioning of the European Union to technology transfer agreements, serving as a practical guide.

The European Commission (EC) can issue decisions to enforce competition law, finding and stopping infringements, imposing interim measures, making commitments binding, or declaring Articles 101 and 102 TFEU inapplicable.

The EC has various powers to investigate competition issues, including conducting sector inquiries, requesting information, taking statements, and conducting inspections.

The EC can impose fines and periodic penalty payments on companies that violate EU competition law.

The European Court of Justice (ECJ) reviews the EC's decisions regarding competition law to ensure they are legally sound.

National competition authorities (NCAs) in EU member states also enforce competition law, with a focus on national concerns.

National courts in EU member states can apply both national and EU competition law when handling relevant cases.

The Spanish Competition Law (LDC) is enforced by CNMC, the Spanish antitrust authority, with judicial review by Audiencia Nacional and Tribunal Supremo.

In Spain, certain cases related to antitrust law can be handled by local authorities, such as those affecting only a specific region.