Competition law background

  • What is the primary purpose of competition law?

    Competition law is the field of law that promotes or seeks to maintain market competition by regulating anti-competitive conduct by companies.
    Competition law is implemented through public and private enforcement..

  • Who came up with the law of competition?

    Roman legislation
    The earliest surviving example of modern competition law's ancestors appears in the Lex Julia de Annona, enacted during the Roman Republic around 50 BC.
    To protect the corn trade, heavy fines were imposed on anyone directly, deliberately and insidiously stopping supply ships..

The earliest records traces back to the efforts of Roman legislators to control price fluctuations and unfair trade practices. Throughout the Middle Ages in Europe, kings and queens repeatedly cracked down on monopolies, including those created through state legislation.
The history of competition law reaches back to the Roman Empire. The business practices of market traders, guilds and governments have always been subject to scrutiny, and sometimes severe sanctions. Since the 20th century, competition law has become global.
Laws governing competition law are found in over two millennia of history. Roman Emperors and Mediaeval monarchs alike used tariffs to stabilise prices or support local production. The formal study of "competition", began in earnest during the 18th century with such works as Adam Smith's The Wealth of Nations.
The history of competition law refers to attempts by governments to regulate competitive markets for goods and services, leading up to the modern competition 

Are competition law provisions vague?

Instead, legal provisions prohibit conduct that amounts to a “restraint of trade”, “monopolisation”, a “practice that has as its object or effect the prevention, restriction or distortion of competition”, or an “abuse of a dominant position”

5 In short, competition law provisions are vague

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What is a competitively neutral competition law?

This includes having a competitively neutral competition law, maintaining competitive neutrality in the enforcement of competition law, bankruptcy law, and the regulatory environment, and establishing open, fair, non-discriminatory, and transparent conditions of competition in public procurement

What is the scope of competition law?

In OECD jurisdictions and around the world, the scope of competition law typically covers any ‘person’ or ‘undertaking’ engaged in an economic activity, regardless of its ownership, source of financing, legal status, place of business or nationality (OECD, 2015)

Where no economic activity exists, competition cannot be distorted

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