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3000px, 100vw' /></picture></a> </div> </div> </div> </div> </div> <div class="wrapper" id="wrapper"> <div class="container"> <main class="content primary" id="content" role="main"> <article class="relative-content"> <div class="menu-glossaire-wrapper sticky-top" id="menu-definition"><ul class="nav menu-glossaire menu-nb-2"><li class='mav-item menu-glossaire-item menu-glossaire-item-auteur'><a class="btn btn-link" href="//en/dictionary/foreclosure-117887#auteur" data-target="#auteur"><span class="picto-round picto-auteur"><img src='squelettes/img/picto-glossaire-auteur.svg?1619777159' alt='' width='20' height='19' /></span><span class="menu-glossaire-item-label">Author Definition</span></a></li> <li class='mav-item menu-glossaire-item menu-glossaire-item-index'><button class="btn btn-link collapsed" role="button" data-target="#index" aria-expanded="false" aria-controls="index"><span class="picto-round picto-index"><img src='squelettes/img/picto-glossaire-index.svg?1619777159' alt='' width='20' height='18' /></span><span class="menu-glossaire-item-label">Table of contents</span></button></li></ul></div> <header class="section section_primary section_cols section_cartouche"> <div class="section__container"> <div class="cartouche cartouche_glossaire"> <h1 class="cartouche__heading" id="start"> <span class="start-mire"></span> <span class="crayon article-titre-117887 ">Foreclosure</span> </h1> </div> </div> </header> <section class="section section_primary section_cols section_author scrollable-anchor"> <div class="section__container"> <div class="section__main"> <h2 class="section__heading" id="auteur"> <span>Author Definition</span> </h2> <div class="section__content"> <div class="definition-section"> <h3 id="part-apercu" class="definition-section-title">Definition</h3> <div class="crayon article-chapo-117888 apercu surlignable"><p>“Foreclosure” refers to the practices that prevent rivals from accessing markets and thereby shutting them out of competition. While "exclusion" tends to imply an active effort to drive competitors out through strategies like predatory pricing, "foreclosure" leans more towards vertical blocking of access to markets through actions like exclusive dealing. However, the distinction is subtle and might vary based on jurisdiction and context. For example, in its Article 102 Guidance, the European Commission uses the term “foreclosure” in the predation context as well. The following commentary focuses on market foreclosure in a vertical sense to distinguish it from exclusion of competitors, as accepted more in the U.S.</p></div> </div> <div class="definition-section"> <h3 id="part-texte" class="definition-section-title">Commentary</h3> <div class="crayon article-texte-117888 texte surlignable"><p><strong>Anticompetitive Foreclosure</strong></p> <p>In general terms, foreclosure tends to be considered anticompetitive when a significant portion of a market is effectively foreclosed by unilateral or concerted actions. Unlike in the past, however, modern competition law does not perceive foreclosure as intrinsically anticompetitive. Particularly, the foreclosure resulting from vertical arrangements or vertical integration is often deemed competitively neutral or even procompetitive, as it may enhance efficiency by reducing costs without harming consumers. In the case of vertical integration, for example, the elimination of double marginalization might incentivize the merged firm to set lower downstream prices. To condemn foreclosure, several market circumstances including the market coverage and duration of the foreclosure in question must be carefully considered and its adverse effects need to be proven to outweigh the benefits, such as efficiency improvements.</p> <p>The foreclosure concern is closely related to that of entry barriers. If a market is foreclosed but still has low barriers, then the foreclosure is less likely to be seen as anticompetitive. Nevertheless, it is worth noting that high barriers to entry by themselves do not necessarily indicate unlawful market foreclosure. Indeed, efficiency can itself serve as a barrier to market entry that does not deserve competition condemnation. Thus, a nuanced understanding of the specific market dynamics is essential when establishing anticompetitive foreclosure.</p> <p><strong>Foreclosure Resulted from Vertical Integration</strong></p> <p>Practically speaking, the “foreclosure” theory of harm is frequently invoked in cases of vertical integration. Suppose, for example, that a dominant or monopolistic firm supplies an important manufacturing input and seeks to acquire a manufacturer at a downstream level. Competition authorities might express concerns about such an acquisition, fearing the supplier could insulate a significant part, or even the entirety, of the upstream market by limiting rivals’ access post-acquisition. Furthermore, the acquisition could heighten concerns about entry barriers, as the subsequent refusal might force new entrants to enter at multiple levels of the supply chain. This form of foreclosure, known as “input foreclosure” (meanwhile, when a vertical merger restricts upstream rivals access to the downstream, it is termed “customer (or output) foreclosure”) could be assessed as anticompetitive, prompting intervention from competition authorities. Exceptions might arise if the relevant markets are deemed to remain competitive, entry is still easy, and/or efficiency gains from the acquisition are perceived as substantial.</p> <p>The U.S. antitrust agencies’ 2020 Vertical Merger Guidelines (now, rescinded) describe foreclosure, alongside raising rivals’ costs, as a unilateral effect arising from vertical mergers. The guidelines state that when a vertical merger enhances the merged firm’s ability and incentive to affect rivals’ sales or competitiveness, the merger can raise competitive concerns and warrant antitrust scrutiny. Meanwhile, the EU’s non-horizontal merger guidelines (2008/C 265/07) express the same concern as a non-coordinated effect. The EU’s guidelines describe "foreclosure" as a situation "where actual or potential rivals’ access to supplies or markets is hampered or eliminated as a result of the merger, thereby reducing these companies’ ability and/or incentive to compete."</p> <p><strong>Foreclosure by Vertical Restrictions, e.g., Tie-ins and Exclusive Dealing</strong></p> <p>The foreclosure offence can also be invoked to challenge vertical contracting arrangements or condemn some business practices, such as tying and exclusive dealing.</p> <p>Regarding tie-ins, whether implemented unilaterally or through an arrangement between firms, it is widely recognized that a business practice requiring buyers of one product to purchase a different product can raise foreclosure concerns. This is because competitors may face challenges reaching their customers, to the extent of the market presence of the tying and tied products. In other words, for a tie and its foreclosure to be deemed anticompetitive, they should foreclose a significant percentage of the market(s). Not to mention that to be anticompetitive, entering the market(s) should pose significant challenges and there should be no valid justification for the tie.</p> <p>One of the most notable cases related to tying and its potential for market foreclosure involves Microsoft. In the late 1990s and early 2000s, Microsoft encountered significant antitrust scrutiny in various jurisdictions, including the U.S., the EU, and South Korea. While specific details varied across these jurisdictions, the core allegations remained consistent: Microsoft engaged in anticompetitive practices, inter alia, by technologically tying its products, such as the Internet Explorer web browser (US), Windows Media Player (EU), and Windows Media Service and internet messenger (South Korea), into its dominant PC operating system, Windows, thereby limiting the market access of competing products.</p> <p>Like tying, exclusive dealing – a contractual arrangement that obliges a buyer to purchase its requirements exclusively from a particular seller – is also frequently condemned based on the foreclosure theory of harm. While in tying cases, the condemnation primarily revolves around the foreclosure that prevents rivals from supplying complementary products to purchasers, in exclusive dealing cases, it centers on the foreclosure that restricts rivals from accessing a purchaser’s entire business. In general terms, the intensity of foreclosure is greater in exclusive dealing cases because such deals leave no room for purchasers to buy and use other products. Nevertheless, the fundamental approach to analyzing the anti-competitiveness of foreclosure in both scenarios does not differ significantly (Hovenkamp, 2021, p.560 and p.567). In exclusive dealing cases as well, various factors including the arrangement’s market coverage, duration, potential for new entrants, and other justifications, are taken into account to establish anticompetitive foreclosure.</p> <p>The legal standard for exclusive dealing may vary based on time, context, and jurisdiction. One can take a prima facia illegality approach, while another can prefer a thorough analysis. However, it has now become common for major jurisdictions to carefully examine the actual or probable impact on competition rather than determining its illegality based solely on the degree of market foreclosure. In the U.S., for example, the Supreme Court in Tampa Electric clarified that, factors such as the contract’s impact on competition, the parties’ relative strength, the volume of commerce involved, and the effects of market share pre-emption should be considered when determining the substantiality of foreclosure (at 329). This approach has been subsequently followed by lower courts. Similarly, in Intel, the European Court of Justice refined the Hoffmann-La Roche decision (para 89) and emphasized the importance of a thorough assessment of the capability to restrict competition and produce anticompetitive effects in abuse cases, including exclusive dealing (para 138 et seq).</p> <p>Meanwhile, when neither of the parties involved in exclusive arrangements holds a dominant position, market foreclosure coverage below 30% is generally not condemned under competition law nowadays, as observed in the US Jefferson Parish case (at 1575) (see also, Article 3(1) of the EU’s Vertical Block Exemption Regulation). As a result, 30% market foreclosure may function as a safe harbor in practice.</p></div> </div> <div class="definition-section"> <h3 id="part-jurisprudence" class="definition-section-title">Case references</h3> <div class="crayon article-reference-117888 reference"><p><a href="https://supreme.justia.com/cases/federal/us/466/2/" class="spip_out" rel="external">Jefferson Parish Hospital District No. 2 v. Hyde, 466 U.S. 2 (1984)</a></p> <p><a href="https://www.google.com/search?q=JFTC+Recommendation+Decision%2C+14+December+1998%2C+45+Shinketsu-shu+153.&oq=JFTC+Recommendation+Decision%2C+14+December+1998%2C+45+Shinketsu-shu+153.&gs_lcrp=EgZjaHJvbWUyBggAEEUYOdIBBzEwN2owajeoAgCwAgA&sourceid=chrome&ie=UTF-8" class="spip_out" rel="external">JFTC Recommendation Decision, 14 December 1998, 45 Shinketsu-shu 153</a></p> <p><a href="https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A61976CJ0085" class="spip_out" rel="external">Judgment of 13 February 1979, Hoffmann-La Roche v Commission, Case C-85/76, EU:C:1979:36</a></p> <p><a href="https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A62004TJ0201" class="spip_out" rel="external">Judgment of 17 September 2007, Microsoft Corp. v Commission of the European Communities, Case T-201/04, EU:T:2007:289</a></p> <p><a href="https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A62014CJ0413" class="spip_out" rel="external">Judgment of 6 September 2017, Intel Corp Inc v European Commission, Case C-413/14 P, EU:C:2017:632</a></p> <p><a href="https://www.ftc.go.kr/www/cmm/fms/FileDown.do?atchFileId=FILE_000000000079798&fileSn=0" class="spip_out" rel="external">KFTC Decision No. 2006-042, 24 February 2006</a></p> <p><a href="https://supreme.justia.com/cases/federal/us/365/320/" class="spip_out" rel="external">Tampa Elec. Co. v. Nashville Coal Co., 365 U.S. 320 (1961)</a></p> <p><a href="https://casetext.com/case/us-v-microsoft-corp-6" class="spip_out" rel="external">U.S. v. Microsoft Corp., 253 F.3d 34, 85 (D.C. Cir.)</a></p></div> </div> <div class="definition-section"> <h3 id="part-biblio" class="definition-section-title">Bibliography</h3> <div class="crayon article-ps-117888 jurisprudence"><p>European Commission, Communication from the Commission – Commission Notice – Guidelines on vertical restraints (2022/C 248/01)</p> <p>European Commission, Communication from the Commission — Guidance on the Commission’s enforcement priorities in applying Article 82 of the EC Treaty to abusive exclusionary conduct by dominant undertakings (2009/C 45/02)</p> <p>European Commission, Guidelines on the assessment of non-horizontal mergers under the Council Regulation on the control of concentrations between undertakings (2008/C 265/07)</p> <p>Herbert Hovenkamp, Federal Antitrust Policy - The Law of Competition and Its Practice (6th edn. 2021)</p> <p>Richard Whish and David Bailey, Competition Law (10th edn. 2021)</p> <p>U.S. Department of Justice and Federal Trade Commission, Vertical Merger Guidelines (2020)</p></div> </div> </div> </div> <aside class="section__aside side-col"> <div class="miniplan miniplan_definition sticky-top" id="definition-index"> <ul class="nav nav-list"> <li><a href="//en/dictionary/foreclosure-117887#part-apercu" data-target="#part-apercu">Definition</a></li> <li><a href="//en/dictionary/foreclosure-117887#part-texte" data-target="#part-texte">Commentary</a></li> <li><a href="//en/dictionary/foreclosure-117887#part-jurisprudence" data-target="#part-jurisprudence">Case references</a></li> <li><a href="//en/dictionary/foreclosure-117887#part-biblio" data-target="#part-biblio">Bibliography</a></li> </ul> </div> <h2>Author</h2> <div class="auteurs"> <ul class="liste-items liste-items-well"> <li class="item"><div class="entry auteur" itemscope itemtype="http://schema.org/Person"> <strong class="entry-title"> <a href="en/auteurs/hwang-lee" itemprop="url"> <span class='logo-img-wrapper spip_logo' style="width:49px;"><span class="img" style="display:block;position:relative;height:0;width:100%;padding-bottom:102.04%;overflow:hidden;background:url(local/cache-vignettes/L97xH100/small_hwanglee_2_-2d4eb.png?1711623500) no-repeat center;background-size:100%;"> </span></span> <span itemprop="name" class="nom">Hwang Lee</span></a> </strong> <div class="entry-content"> <span class='organisation' itemprop="worksFor" itemtype="http://schema.org/Organization">Korea University (Seoul)</span> </div> <div class="entry-meta"> <span class="pays">South Korea</span> <span class="articles"><em>2</em> contributions</span> <span class="visites"><em>1574</em> visits</span> </div> </div></li> </ul> </div> <div class="well citation"> <h2>Quotation</h2> <article class="entry article article-dictionary hentry"> <span class="authors">Hwang Lee, </span> <span class="entry-title">Foreclosure</span><span class="rubrique"><span class="sep">, </span> Global Dictionary of Competition Law, Concurrences, Art. N° 117887</span> </article> </div> <div class="well stats"> <p><i class="picto picto-eye"></i> <b>Visits</b> <em class="number">1574</em></p> </div> </aside> </div> </section> <div class="index-overlay collapse" id="index"> <span class="arrow-top"></span> <button class="close">×</button> <div class="glossaire-index"> <div class="main"> <div class="index"> <a class="lettre" href="//en/dictionary/foreclosure-117887#a" data-anchor="#a">a</a> <a class="lettre" href="//en/dictionary/foreclosure-117887#b" data-anchor="#b">b</a> <a class="lettre" href="//en/dictionary/foreclosure-117887#c" data-anchor="#c">c</a> <a class="lettre" href="//en/dictionary/foreclosure-117887#d" data-anchor="#d">d</a> <a class="lettre" href="//en/dictionary/foreclosure-117887#e" data-anchor="#e">e</a> <a class="lettre" href="//en/dictionary/foreclosure-117887#f" data-anchor="#f">f</a> <a class="lettre" href="//en/dictionary/foreclosure-117887#g" data-anchor="#g">g</a> <a class="lettre" href="//en/dictionary/foreclosure-117887#h" data-anchor="#h">h</a> <a class="lettre" href="//en/dictionary/foreclosure-117887#i" data-anchor="#i">i</a> <a class="lettre" href="//en/dictionary/foreclosure-117887#j" data-anchor="#j">j</a> <a class="lettre" href="//en/dictionary/foreclosure-117887#k" data-anchor="#k">k</a> <a class="lettre" href="//en/dictionary/foreclosure-117887#l" data-anchor="#l">l</a> <a class="lettre" href="//en/dictionary/foreclosure-117887#m" data-anchor="#m">m</a> <a class="lettre" href="//en/dictionary/foreclosure-117887#n" data-anchor="#n">n</a> <a class="lettre" href="//en/dictionary/foreclosure-117887#o" data-anchor="#o">o</a> <a class="lettre" href="//en/dictionary/foreclosure-117887#p" data-anchor="#p">p</a> <a class="lettre" href="//en/dictionary/foreclosure-117887#r" data-anchor="#r">r</a> <a class="lettre" href="//en/dictionary/foreclosure-117887#s" data-anchor="#s">s</a> <a class="lettre" href="//en/dictionary/foreclosure-117887#t" data-anchor="#t">t</a> <a class="lettre" href="//en/dictionary/foreclosure-117887#u" data-anchor="#u">u</a> <a class="lettre" href="//en/dictionary/foreclosure-117887#v" data-anchor="#v">v</a> <a class="lettre" href="//en/dictionary/foreclosure-117887#w" data-anchor="#w">w</a> </div> </div> <div class="row entree" id="a"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">a</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/absolute-territorial-protection">Absolute territorial protection </a> <span class="sep">•</span> <a href="en/dictionary/abuse-of-dominant-position-en">Abuse of dominant position</a> <span class="sep">•</span> <a href="en/dictionary/abuse-of-economic-dependence">Abuse of economic dependence</a> <span class="sep">•</span> <a href="en/dictionary/access-to-the-file-en">Access to the file</a> <span class="sep">•</span> <a href="en/dictionary/actual-competitor">Actual competitor </a> <span class="sep">•</span> <a href="en/dictionary/administered-prices">Administered prices</a> <span class="sep">•</span> <a href="en/dictionary/advisory-committee-118302">Advisory committee</a> <span class="sep">•</span> <a href="en/dictionary/agent-en">Agent</a> <span class="sep">•</span> <a href="en/dictionary/agreement-notion-en">Agreement (notion)</a> <span class="sep">•</span> <a href="en/dictionary/ai-collusion-algorithm">AI Collusion (Algorithm)</a> <span class="sep">•</span> <a href="en/dictionary/AKZO-Procedure">AKZO Procedure </a> <span class="sep">•</span> <a href="en/dictionary/amicus-curiae">Amicus curiae</a> <span class="sep">•</span> <a href="en/dictionary/ancillary-restraints">Ancillary restraints </a> <span class="sep">•</span> <a href="en/dictionary/annulment">Annulment</a> <span class="sep">•</span> <a href="en/dictionary/anticompetitive-market-distortions">Anticompetitive Market Distortions</a> <span class="sep">•</span> <a href="en/dictionary/anticompetitive-object-or-effect-en">Anticompetitive object or effect</a> <span class="sep">•</span> <a href="en/dictionary/anticompetitive-practices">Anticompetitive practices</a> <span class="sep">•</span> <a href="en/dictionary/Antitrust">Antitrust</a> <span class="sep">•</span> <a href="en/dictionary/applicable-law">Applicable law</a> <span class="sep">•</span> <a href="en/dictionary/arbitration">Arbitration</a> <span class="sep">•</span> <a href="en/dictionary/article-11-letter">Article 11 letter </a> <span class="sep">•</span> <a href="en/dictionary/artificial-intelligence">Artificial Intelligence </a> <span class="sep">•</span> <a href="en/dictionary/aec-as-efficient-competitor-principle-and-test">As-Efficient Competitor (AEC)</a> </div> </div> </div> <div class="row entree" id="b"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">b</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/barriers-to-entry-en">Barriers to entry</a> <span class="sep">•</span> <a href="en/dictionary/bertrand-nash-equilibrium">Bertrand (Nash) equilibrium</a> <span class="sep">•</span> <a href="en/dictionary/bid-rigging">Bid rigging</a> <span class="sep">•</span> <a href="en/dictionary/block-exemption-regulation">Block exemption (Regulation) </a> <span class="sep">•</span> <a href="en/dictionary/boycott">Boycott</a> <span class="sep">•</span> <a href="en/dictionary/brand-competition-en">Brand competition</a> <span class="sep">•</span> <a href="en/dictionary/bundling">Bundling</a> <span class="sep">•</span> <a href="en/dictionary/burden-of-proof">Burden of proof</a> <span class="sep">•</span> <a href="en/dictionary/buyer-power">Buyer power </a> </div> </div> </div> <div class="row entree" id="c"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">c</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/cartel">Cartel </a> <span class="sep">•</span> <a href="en/dictionary/clearance-phase-ii-merger">Clearance phase II (merger)</a> <span class="sep">•</span> <a href="en/dictionary/collecting-society">Collecting society </a> <span class="sep">•</span> <a href="en/dictionary/collective-dominance">Collective dominance</a> <span class="sep">•</span> <a href="en/dictionary/collective-redress-class-action">Collective redress (class action)</a> <span class="sep">•</span> <a href="en/dictionary/comity">Comity </a> <span class="sep">•</span> <a href="en/dictionary/commission-communication">Commission communication</a> <span class="sep">•</span> <a href="en/dictionary/competence">Competence </a> <span class="sep">•</span> <a href="en/dictionary/competition-policy-89181">Competition policy</a> <span class="sep">•</span> <a href="en/dictionary/complaint">Complaint </a> <span class="sep">•</span> <a href="en/dictionary/Compliance-programme">Compliance programme </a> <span class="sep">•</span> <a href="en/dictionary/compulsory-license">Compulsory license</a> <span class="sep">•</span> <a href="en/dictionary/concentration-indexes-en">Concentration indexes</a> <span class="sep">•</span> <a href="en/dictionary/concerted-practices-en">Concerted practices</a> <span class="sep">•</span> <a href="en/dictionary/concession-86056">Concession</a> <span class="sep">•</span> <a href="en/dictionary/concurrent-jurisdiction">Concurrent jurisdiction</a> <span class="sep">•</span> <a href="en/dictionary/Consortium-12192">Consortium </a> <span class="sep">•</span> <a href="en/dictionary/consumer-protection">Consumer protection</a> <span class="sep">•</span> <a href="en/dictionary/consumers-associations-en">Consumers’ associations</a> <span class="sep">•</span> <a href="en/dictionary/control-change">Control (change)</a> <span class="sep">•</span> <a href="en/dictionary/control-notion">Control (notion)</a> <span class="sep">•</span> <a href="en/dictionary/cooperation-between-competition-authorities-en">Cooperation between competition authorities</a> <span class="sep">•</span> <a href="en/dictionary/coordinated-effects">Coordinated effects</a> <span class="sep">•</span> <a href="en/dictionary/copyright">Copyright</a> <span class="sep">•</span> <a href="en/dictionary/corruption">Corruption</a> <span class="sep">•</span> <a href="en/dictionary/cost-based-access">Cost-based access</a> <span class="sep">•</span> <a href="en/dictionary/cournot-nash-equilibrium">Cournot (Nash) equilibrium</a> <span class="sep">•</span> <a href="en/dictionary/criminal-sanctions">Criminal sanctions</a> <span class="sep">•</span> <a href="en/dictionary/cross-subsidisation">Cross subsidisation </a> </div> </div> </div> <div class="row entree" id="d"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">d</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/damages">Damages</a> <span class="sep">•</span> <a href="en/dictionary/de-minimis-notice">De minimis notice</a> <span class="sep">•</span> <a href="en/dictionary/digital-markets-act">Digital Markets Act</a> <span class="sep">•</span> <a href="en/dictionary/direct-effect">Direct effect</a> <span class="sep">•</span> <a href="en/dictionary/discriminatory-practices">Discriminatory practices</a> <span class="sep">•</span> <a href="en/dictionary/distribution-agreement">Distribution agreement</a> <span class="sep">•</span> <a href="en/dictionary/divestiture">Divestiture</a> <span class="sep">•</span> <a href="en/dictionary/dominance-notion">Dominance (notion)</a> <span class="sep">•</span> <a href="en/dictionary/downstream-market-117440">Downstream market</a> </div> </div> </div> <div class="row entree" id="e"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">e</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/echr">ECHR</a> <span class="sep">•</span> <a href="en/dictionary/economic-analysis">Economic analysis</a> <span class="sep">•</span> <a href="en/dictionary/economic-efficiency">Economic efficiency</a> <span class="sep">•</span> <a href="en/dictionary/economies-of-scale">Economies of scale </a> <span class="sep">•</span> <a href="en/dictionary/ecosystem-failures">Ecosystem Failures</a> <span class="sep">•</span> <a href="en/dictionary/effect-on-trade-between-member-states">Effect on trade between Member States</a> <span class="sep">•</span> <a href="en/dictionary/effective-judicial-protection">Effective judicial protection</a> <span class="sep">•</span> <a href="en/dictionary/effects-doctrine-118100">Effects doctrine</a> <span class="sep">•</span> <a href="en/dictionary/efta-surveillance-authority-esa-court">EFTA Surveillance Authority (ESA) & Court </a> <span class="sep">•</span> <a href="en/dictionary/environmental-protection-en">Environmental protection</a> <span class="sep">•</span> <a href="en/dictionary/error-costs-108946">Error costs</a> <span class="sep">•</span> <a href="en/dictionary/essential-facility">Essential facility</a> <span class="sep">•</span> <a href="en/dictionary/european-competition-network-ecn-en">European Competition Network (ECN)</a> <span class="sep">•</span> <a href="en/dictionary/excessive-prices-en">Excessive prices</a> <span class="sep">•</span> <a href="en/dictionary/exchange-of-information">Exchanges of information</a> <span class="sep">•</span> <a href="en/dictionary/exclusionary-practice">Exclusionary practice </a> <span class="sep">•</span> <a href="en/dictionary/Exclusive-distribution-12218">Exclusive distribution </a> <span class="sep">•</span> <a href="en/dictionary/exclusive-purchasing-en">Exclusive purchasing agreement</a> <span class="sep">•</span> <a href="en/dictionary/exclusive-right-art-106-tfeu">Exclusive right (Art. 106 TFEU)</a> <span class="sep">•</span> <a href="en/dictionary/exclusivity-clause">Exclusivity clause</a> <span class="sep">•</span> <a href="en/dictionary/Exhaustion">Exhaustion </a> <span class="sep">•</span> <a href="en/dictionary/Extra-territoriality">Extra-territoriality</a> </div> </div> </div> <div class="row entree" id="f"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">f</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/Failing-firm-defence">Failing firm defence</a> <span class="sep">•</span> <a href="en/dictionary/fidelity-rebates">Fidelity rebates</a> <span class="sep">•</span> <a href="en/dictionary/Fine">Fine</a> <span class="sep">•</span> <a href="en/dictionary/fintech">Fintech</a> <span class="sep">•</span> <a href="en/dictionary/foreclosure-117887">Foreclosure</a> <span class="sep">•</span> <a href="en/dictionary/foreign-direct-investment-fdi">Foreign direct investment (FDI)</a> <span class="sep">•</span> <a href="en/dictionary/foreign-subsidies">Foreign Subsidies</a> <span class="sep">•</span> <a href="en/dictionary/form-co">Form CO (EU) </a> <span class="sep">•</span> <a href="en/dictionary/frand">FRAND</a> <span class="sep">•</span> <a href="en/dictionary/Free-riding">Free riding </a> </div> </div> </div> <div class="row entree" id="g"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">g</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/geographic-market">Geographic market</a> <span class="sep">•</span> <a href="en/dictionary/corporate-group">Group of undertakings</a> <span class="sep">•</span> <a href="en/dictionary/group-purchasing-organization">Group purchasing organization</a> <span class="sep">•</span> <a href="en/dictionary/guidelines-119080">Guidelines</a> <span class="sep">•</span> <a href="en/dictionary/gun-jumping">Gun jumping</a> </div> </div> </div> <div class="row entree" id="h"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">h</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/hard-core-restrictions">Hard core restrictions</a> <span class="sep">•</span> <a href="en/dictionary/Hearing-officer">Hearing officer </a> <span class="sep">•</span> <a href="en/dictionary/horizontal-agreement">Horizontal cooperation agreement</a> <span class="sep">•</span> <a href="en/dictionary/hsr-filing-us-108854">HSR Filing (US)</a> </div> </div> </div> <div class="row entree" id="i"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">i</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/independence-and-impartiality">Independence and impartiality</a> <span class="sep">•</span> <a href="en/dictionary/individual-exemption-86377">Individual exemption</a> <span class="sep">•</span> <a href="en/dictionary/industrial-policy">Industrial policy</a> <span class="sep">•</span> <a href="en/dictionary/intellectual-property-right-en">Intellectual property right</a> <span class="sep">•</span> <a href="en/dictionary/inter-brand-competition">Inter-brand competition </a> <span class="sep">•</span> <a href="en/dictionary/Interim-measures">Interim measures </a> <span class="sep">•</span> <a href="en/dictionary/international-co-operation">International co-operation </a> <span class="sep">•</span> <a href="en/dictionary/international-competition-network-icn">International competition network (ICN) </a> <span class="sep">•</span> <a href="en/dictionary/investigations-inquiries-en">Investigations / inquiries</a> </div> </div> </div> <div class="row entree" id="j"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">j</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/judicial-review">Judicial review</a> </div> </div> </div> <div class="row entree" id="k"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">k</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/Know-how">Know-how </a> </div> </div> </div> <div class="row entree" id="l"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">l</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/legal-privilege">Legal privilege</a> <span class="sep">•</span> <a href="en/dictionary/Leniency-programme">Leniency</a> <span class="sep">•</span> <a href="en/dictionary/lerner-index">Lerner index</a> <span class="sep">•</span> <a href="en/dictionary/letter-of-formal-notice-118055">Letter of formal notice </a> <span class="sep">•</span> <a href="en/dictionary/licensing">Licensing</a> <span class="sep">•</span> <a href="en/dictionary/limitation-period-119083">Limitation Period </a> </div> </div> </div> <div class="row entree" id="m"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">m</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/margin-squeeze">Margin squeeze</a> <span class="sep">•</span> <a href="en/dictionary/marginal-costs">Marginal costs </a> <span class="sep">•</span> <a href="en/dictionary/market-economy-investor">Market economy investor</a> <span class="sep">•</span> <a href="en/dictionary/market-power">Market power</a> <span class="sep">•</span> <a href="en/dictionary/market-share">Market share </a> <span class="sep">•</span> <a href="en/dictionary/media-pluralism">Media pluralism</a> <span class="sep">•</span> <a href="en/dictionary/merger-notion-12318-en">Merger (notion)</a> <span class="sep">•</span> <a href="en/dictionary/merger-prohibition">Merger (prohibition)</a> <span class="sep">•</span> <a href="en/dictionary/merger-withdrawal-118046">Merger (withdrawal)</a> <span class="sep">•</span> <a href="en/dictionary/Merger-control-procedure">Merger control procedure </a> <span class="sep">•</span> <a href="en/dictionary/merger-remedies-100323">Merger remedies</a> <span class="sep">•</span> <a href="en/dictionary/minority-shareholdings-89176">Minority shareholdings</a> <span class="sep">•</span> <a href="en/dictionary/misinformation">Misinformation</a> <span class="sep">•</span> <a href="en/dictionary/mobility-barriers-117741">Mobility Barriers</a> <span class="sep">•</span> <a href="en/dictionary/Monopoly">Monopoly </a> </div> </div> </div> <div class="row entree" id="n"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">n</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/ne-bis-in-idem-86490">Ne bis in idem</a> <span class="sep">•</span> <a href="en/dictionary/negative-clearance-118047">Negative clearance</a> <span class="sep">•</span> <a href="en/dictionary/Network-effect">Network effect </a> <span class="sep">•</span> <a href="en/dictionary/non-compete-obligation-12156-en">Non-compete obligation </a> <span class="sep">•</span> <a href="en/dictionary/non-horizontal-mergers">Non-Horizontal Mergers </a> <span class="sep">•</span> <a href="en/dictionary/notification-12310">Notification</a> <span class="sep">•</span> <a href="en/dictionary/nullity">Nullity </a> </div> </div> </div> <div class="row entree" id="o"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">o</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/oligopoly">Oligopoly </a> <span class="sep">•</span> <a href="en/dictionary/online-platforms">Online Platforms</a> </div> </div> </div> <div class="row entree" id="p"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">p</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/parallel-imports-parallel-trade-en">Parallel imports (parallel trade)</a> <span class="sep">•</span> <a href="en/dictionary/passing-on-en">Passing-on</a> <span class="sep">•</span> <a href="en/dictionary/Passive-sales">Passive sales </a> <span class="sep">•</span> <a href="en/dictionary/patents">Patents</a> <span class="sep">•</span> <a href="en/dictionary/pay-for-delay">Pay-for-delay</a> <span class="sep">•</span> <a href="en/dictionary/periodic-penalty-payment">Periodic penalty payment</a> <span class="sep">•</span> <a href="en/dictionary/potential-competition">Potential competition </a> <span class="sep">•</span> <a href="en/dictionary/predatory-pricing">Predatory pricing</a> <span class="sep">•</span> <a href="en/dictionary/preliminary-rulings-art-267-tfue">Preliminary ruling (Art. 267 TFUE) </a> <span class="sep">•</span> <a href="en/dictionary/price-discrimination-en">Price discrimination </a> <span class="sep">•</span> <a href="en/dictionary/price-leadership">Price leadership</a> <span class="sep">•</span> <a href="en/dictionary/price-signaling">Price signalling</a> <span class="sep">•</span> <a href="en/dictionary/price-fixing-agreement">Price-fixing agreement</a> <span class="sep">•</span> <a href="en/dictionary/prices-en">Prices</a> <span class="sep">•</span> <a href="en/dictionary/principle-of-equal-treatment">Principle of equal treatment</a> <span class="sep">•</span> <a href="en/dictionary/principle-of-equivalence">Principle of equivalence</a> <span class="sep">•</span> <a href="en/dictionary/principle-of-proportionality">Principle of proportionality</a> <span class="sep">•</span> <a href="en/dictionary/privacy-and-data-protection">Privacy and data protection</a> <span class="sep">•</span> <a href="en/dictionary/private-enforcement">Private enforcement</a> <span class="sep">•</span> <a href="en/dictionary/privatization-en">Privatization</a> <span class="sep">•</span> <a href="en/dictionary/procedural-autonomy">Procedural autonomy</a> <span class="sep">•</span> <a href="en/dictionary/professional-association-86373-en">Professional association</a> <span class="sep">•</span> <a href="en/dictionary/public-procurement">Public procurement</a> <span class="sep">•</span> <a href="en/dictionary/Public-undertaking">Public undertaking</a> </div> </div> </div> <div class="row entree" id="r"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">r</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/r-d-agreement">R&D agreement</a> <span class="sep">•</span> <a href="en/dictionary/case-referral-system-mergers">Referral (merger)</a> <span class="sep">•</span> <a href="en/dictionary/refusal-to-deal">Refusal to deal</a> <span class="sep">•</span> <a href="en/dictionary/the-registry-of-the-general-court-of-the-european-union">Registry of the General Court of the European Union</a> <span class="sep">•</span> <a href="en/dictionary/Relevant-market">Relevant market</a> <span class="sep">•</span> <a href="en/dictionary/remedies-antitrust-en">Remedies (antitrust)</a> <span class="sep">•</span> <a href="en/dictionary/request-for-information">Request for information</a> <span class="sep">•</span> <a href="en/dictionary/resale-below-cost-en">Resale below cost </a> <span class="sep">•</span> <a href="en/dictionary/resale-price-maintenance-rpm">Resale price maintenance (RPM)</a> <span class="sep">•</span> <a href="en/dictionary/restriction-on-exportation">Restriction on exportation </a> <span class="sep">•</span> <a href="en/dictionary/rule-of-reason">Rule of reason</a> </div> </div> </div> <div class="row entree" id="s"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">s</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/sunk-costs-117836"> Sunk Costs </a> <span class="sep">•</span> <a href="en/dictionary/sector-inquiry">Sector inquiry</a> <span class="sep">•</span> <a href="en/dictionary/selective-distribution">Selective distribution </a> <span class="sep">•</span> <a href="en/dictionary/self-preference-111802">Self-Preference</a> <span class="sep">•</span> <a href="en/dictionary/Services-of-general-economic">Services of general economic interest </a> <span class="sep">•</span> <a href="en/dictionary/Single-branding">Single branding </a> <span class="sep">•</span> <a href="en/dictionary/sole-control">Sole control</a> <span class="sep">•</span> <a href="en/dictionary/specialization-agreements">Specialization agreements </a> <span class="sep">•</span> <a href="en/dictionary/Spill-over-effects">Spill-over effects </a> <span class="sep">•</span> <a href="en/dictionary/standard-essential-patent-sep">Standard-Essential Patent (SEP)</a> <span class="sep">•</span> <a href="en/dictionary/state-action-defense">State action defence</a> <span class="sep">•</span> <a href="en/dictionary/state-aid-compatibility">State aid (compatibility)</a> <span class="sep">•</span> <a href="en/dictionary/state-aid-existing-aid">State aid (existing aid) </a> <span class="sep">•</span> <a href="en/dictionary/state-aid-notification-en">State aid (notification)</a> <span class="sep">•</span> <a href="en/dictionary/state-aid">State aid (notion)</a> <span class="sep">•</span> <a href="en/dictionary/state-aid-recovery">State aid (recovery) </a> <span class="sep">•</span> <a href="en/dictionary/state-aid-unlawful-aid">State aid (unlawful aid) </a> <span class="sep">•</span> <a href="en/dictionary/State-measure">State measure </a> <span class="sep">•</span> <a href="en/dictionary/Statement-of-objections-SO">Statement of objections (SO) </a> <span class="sep">•</span> <a href="en/dictionary/Substitutability">Substitutability </a> <span class="sep">•</span> <a href="en/dictionary/sustainability">Sustainability</a> <span class="sep">•</span> <a href="en/dictionary/switching-costs">Switching Costs</a> </div> </div> </div> <div class="row entree" id="t"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">t</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/technology-transfer">Technology transfer</a> <span class="sep">•</span> <a href="en/dictionary/test-siec-merger-en">Test SIEC (merger)</a> <span class="sep">•</span> <a href="en/dictionary/merger-slc-src-sdc-tests">Test SLC (merger)</a> <span class="sep">•</span> <a href="en/dictionary/tipping">Tipping</a> <span class="sep">•</span> <a href="en/dictionary/business-secrets">Trade Secrets</a> <span class="sep">•</span> <a href="en/dictionary/trademark">Trademark</a> <span class="sep">•</span> <a href="en/dictionary/trustee-mergers-en">Trustee (mergers)</a> <span class="sep">•</span> <a href="en/dictionary/turnover-threshold-merger">Turnover threshold (merger)</a> <span class="sep">•</span> <a href="en/dictionary/two-sided-market">Two-sided market</a> </div> </div> </div> <div class="row entree" id="u"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">u</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/undertaking-notion">Undertaking (notion)</a> <span class="sep">•</span> <a href="en/dictionary/unfair-competition">Unfair competition</a> <span class="sep">•</span> <a href="en/dictionary/universal-service-118054">Universal Service</a> <span class="sep">•</span> <a href="en/dictionary/upstream-market">Upstream market </a> </div> </div> </div> <div class="row entree" id="v"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">v</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/variable-costs">Variable costs </a> <span class="sep">•</span> <a href="en/dictionary/Vertical-agreement">Vertical agreement</a> <span class="sep">•</span> <a href="en/dictionary/vertical-restraints-or-restrictions">Vertical restraints (or restrictions)</a> </div> </div> </div> <div class="row entree" id="w"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">w</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/White-clause">White clause</a> <span class="sep">•</span> <a href="en/dictionary/withdrawal-of-the-benefit-of-a-block-exemption">Withdrawal (of the benefit of a block exemption)</a> </div> </div> </div> </div> </div> </article> <script type="text/javascript"> jQuery(function(){ // hack on appelle 1 scrollspy sur body et 1 sur window pour pas les melanger jQuery(window).scrollspy({ target: '#menu-definition', offset: 130 }); jQuery('body').scrollspy({ target: '#definition-index', 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local/adapt-img/640/10x/IMG/png/home-new-4.png@.webp?1734422958 640w, local/adapt-img/960/10x/IMG/png/home-new-4.png@.webp?1734371607 960w, local/adapt-img/1440/10x/IMG/png/home-new-4.png@.webp?1734368901 1440w, local/adapt-img/3000/10x/IMG/png/home-new-4.png@.webp?1734368721 3000w" sizes="(min-width: 3000px) 3000px, 100vw" type="image/webp"> <img src='local/adapt-img/3000/10x/IMG/png/home-new-4.png?1734369734' alt='Competition Law Dictionary' width='3000' height='160' class='adapt-img' srcset='local/adapt-img/320/10x/IMG/png/home-new-4.png?1734407208 320w, local/adapt-img/640/10x/IMG/png/home-new-4.png?1734440872 640w, local/adapt-img/960/10x/IMG/png/home-new-4.png?1734440872 960w, local/adapt-img/1440/10x/IMG/png/home-new-4.png?1734422790 1440w, local/adapt-img/3000/10x/IMG/png/home-new-4.png?1734369734 3000w' sizes='(min-width: 3000px) 3000px, 100vw' /></picture></a> </div> <div class="item "> <a href="https://www.concurrences.com/en/all-books/competition-law-dictionary"><picture 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srcset="local/adapt-img/320/10x/IMG/png/home-new-4.png@.webp?1734440872 320w, local/adapt-img/640/10x/IMG/png/home-new-4.png@.webp?1734422958 640w, local/adapt-img/960/10x/IMG/png/home-new-4.png@.webp?1734371607 960w, local/adapt-img/1440/10x/IMG/png/home-new-4.png@.webp?1734368901 1440w, local/adapt-img/3000/10x/IMG/png/home-new-4.png@.webp?1734368721 3000w" sizes="(min-width: 3000px) 3000px, 100vw" type="image/webp"> <img src='local/adapt-img/3000/10x/IMG/png/home-new-4.png?1734369734' alt='Competition Law Dictionary' width='3000' height='160' class='adapt-img' srcset='local/adapt-img/320/10x/IMG/png/home-new-4.png?1734407208 320w, local/adapt-img/640/10x/IMG/png/home-new-4.png?1734440872 640w, local/adapt-img/960/10x/IMG/png/home-new-4.png?1734440872 960w, local/adapt-img/1440/10x/IMG/png/home-new-4.png?1734422790 1440w, local/adapt-img/3000/10x/IMG/png/home-new-4.png?1734369734 3000w' sizes='(min-width: 3000px) 3000px, 100vw' /></picture></a> </div> <div class="item "> <a 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