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vector-toc-level-2"> <a class="vector-toc-link" href="#Early_competition_law_in_Europe"> <div class="vector-toc-text"> <span class="vector-toc-numb">2.3</span> <span>Early competition law in Europe</span> </div> </a> <ul id="toc-Early_competition_law_in_Europe-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> <li id="toc-Modern_competition_law" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#Modern_competition_law"> <div class="vector-toc-text"> <span class="vector-toc-numb">3</span> <span>Modern competition law</span> </div> </a> <button aria-controls="toc-Modern_competition_law-sublist" class="cdx-button cdx-button--weight-quiet cdx-button--icon-only vector-toc-toggle"> <span class="vector-icon mw-ui-icon-wikimedia-expand"></span> <span>Toggle Modern competition law subsection</span> </button> <ul id="toc-Modern_competition_law-sublist" class="vector-toc-list"> <li id="toc-United_States_antitrust" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#United_States_antitrust"> <div class="vector-toc-text"> <span class="vector-toc-numb">3.1</span> <span>United States antitrust</span> </div> </a> <ul id="toc-United_States_antitrust-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-European_Union_law" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#European_Union_law"> <div class="vector-toc-text"> <span class="vector-toc-numb">3.2</span> <span>European Union law</span> </div> </a> <ul id="toc-European_Union_law-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-India" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#India"> <div class="vector-toc-text"> <span class="vector-toc-numb">3.3</span> <span>India</span> </div> </a> <ul id="toc-India-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-China" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#China"> <div class="vector-toc-text"> <span class="vector-toc-numb">3.4</span> <span>China</span> </div> </a> <ul id="toc-China-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-International_expansion" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#International_expansion"> <div class="vector-toc-text"> <span class="vector-toc-numb">3.5</span> <span>International expansion</span> </div> </a> <ul id="toc-International_expansion-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-ASEAN_member_states" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#ASEAN_member_states"> <div class="vector-toc-text"> <span class="vector-toc-numb">3.6</span> <span>ASEAN member states</span> </div> </a> <ul id="toc-ASEAN_member_states-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> <li id="toc-Enforcement" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#Enforcement"> <div class="vector-toc-text"> <span class="vector-toc-numb">4</span> <span>Enforcement</span> </div> </a> <ul id="toc-Enforcement-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Theory" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#Theory"> <div class="vector-toc-text"> <span class="vector-toc-numb">5</span> <span>Theory</span> </div> </a> <button aria-controls="toc-Theory-sublist" class="cdx-button cdx-button--weight-quiet cdx-button--icon-only vector-toc-toggle"> <span class="vector-icon mw-ui-icon-wikimedia-expand"></span> <span>Toggle Theory subsection</span> </button> <ul id="toc-Theory-sublist" class="vector-toc-list"> <li id="toc-Classical_perspective" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Classical_perspective"> <div class="vector-toc-text"> <span class="vector-toc-numb">5.1</span> <span>Classical perspective</span> </div> </a> <ul id="toc-Classical_perspective-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Neo-classical_synthesis" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Neo-classical_synthesis"> <div class="vector-toc-text"> <span class="vector-toc-numb">5.2</span> <span>Neo-classical synthesis</span> </div> </a> <ul id="toc-Neo-classical_synthesis-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Chicago_school" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Chicago_school"> <div class="vector-toc-text"> <span class="vector-toc-numb">5.3</span> <span>Chicago school</span> </div> </a> <ul id="toc-Chicago_school-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> <li id="toc-Practice" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#Practice"> <div class="vector-toc-text"> <span class="vector-toc-numb">6</span> <span>Practice</span> </div> </a> <button aria-controls="toc-Practice-sublist" class="cdx-button cdx-button--weight-quiet cdx-button--icon-only vector-toc-toggle"> <span class="vector-icon mw-ui-icon-wikimedia-expand"></span> <span>Toggle Practice subsection</span> </button> <ul id="toc-Practice-sublist" class="vector-toc-list"> <li id="toc-Collusion_and_cartels" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Collusion_and_cartels"> <div class="vector-toc-text"> <span class="vector-toc-numb">6.1</span> <span>Collusion and cartels</span> </div> </a> <ul id="toc-Collusion_and_cartels-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Dominance_and_monopoly" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Dominance_and_monopoly"> <div class="vector-toc-text"> <span class="vector-toc-numb">6.2</span> <span>Dominance and monopoly</span> </div> </a> <ul id="toc-Dominance_and_monopoly-sublist" class="vector-toc-list"> <li id="toc-Example" class="vector-toc-list-item vector-toc-level-3"> <a class="vector-toc-link" href="#Example"> <div class="vector-toc-text"> <span class="vector-toc-numb">6.2.1</span> <span>Example</span> </div> </a> <ul id="toc-Example-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> <li id="toc-Mergers_and_acquisitions" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Mergers_and_acquisitions"> <div class="vector-toc-text"> <span class="vector-toc-numb">6.3</span> <span>Mergers and acquisitions</span> </div> </a> <ul id="toc-Mergers_and_acquisitions-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Intellectual_property,_innovation_and_competition" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Intellectual_property,_innovation_and_competition"> <div class="vector-toc-text"> <span class="vector-toc-numb">6.4</span> <span>Intellectual property, innovation and competition</span> </div> </a> <ul id="toc-Intellectual_property,_innovation_and_competition-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> <li id="toc-See_also" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#See_also"> <div class="vector-toc-text"> <span class="vector-toc-numb">7</span> <span>See also</span> </div> </a> <ul id="toc-See_also-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Notes" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#Notes"> <div class="vector-toc-text"> <span class="vector-toc-numb">8</span> <span>Notes</span> </div> </a> <ul id="toc-Notes-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-References" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#References"> <div class="vector-toc-text"> <span class="vector-toc-numb">9</span> <span>References</span> </div> </a> <ul id="toc-References-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Further_reading" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#Further_reading"> <div class="vector-toc-text"> <span class="vector-toc-numb">10</span> <span>Further reading</span> </div> </a> <ul id="toc-Further_reading-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-External_links" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#External_links"> <div class="vector-toc-text"> <span class="vector-toc-numb">11</span> <span>External links</span> </div> </a> <ul id="toc-External_links-sublist" class="vector-toc-list"> </ul> </li> </ul> </div> </div> </nav> </div> </div> <div class="mw-content-container"> <main id="content" class="mw-body"> <header class="mw-body-header vector-page-titlebar"> <nav aria-label="Contents" class="vector-toc-landmark"> <div id="vector-page-titlebar-toc" class="vector-dropdown vector-page-titlebar-toc vector-button-flush-left" > <input type="checkbox" id="vector-page-titlebar-toc-checkbox" role="button" aria-haspopup="true" data-event-name="ui.dropdown-vector-page-titlebar-toc" class="vector-dropdown-checkbox " aria-label="Toggle the table of contents" > <label id="vector-page-titlebar-toc-label" for="vector-page-titlebar-toc-checkbox" class="vector-dropdown-label cdx-button cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--weight-quiet cdx-button--icon-only " aria-hidden="true" ><span class="vector-icon mw-ui-icon-listBullet mw-ui-icon-wikimedia-listBullet"></span> <span class="vector-dropdown-label-text">Toggle the table of contents</span> </label> <div class="vector-dropdown-content"> <div id="vector-page-titlebar-toc-unpinned-container" class="vector-unpinned-container"> </div> </div> </div> </nav> <h1 id="firstHeading" class="firstHeading mw-first-heading"><span class="mw-page-title-main">Competition law</span></h1> <div id="p-lang-btn" class="vector-dropdown mw-portlet mw-portlet-lang" > <input type="checkbox" id="p-lang-btn-checkbox" role="button" aria-haspopup="true" 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Available in 42 languages" > <label id="p-lang-btn-label" for="p-lang-btn-checkbox" class="vector-dropdown-label cdx-button cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--weight-quiet cdx-button--action-progressive mw-portlet-lang-heading-42" aria-hidden="true" ><span class="vector-icon mw-ui-icon-language-progressive mw-ui-icon-wikimedia-language-progressive"></span> <span class="vector-dropdown-label-text">42 languages</span> </label> <div class="vector-dropdown-content"> <div class="vector-menu-content"> <ul class="vector-menu-content-list"> <li class="interlanguage-link interwiki-ar mw-list-item"><a href="https://ar.wikipedia.org/wiki/%D9%82%D8%A7%D9%86%D9%88%D9%86_%D8%A7%D9%84%D9%85%D9%86%D8%A7%D9%81%D8%B3%D8%A9" title="قانون المنافسة – Arabic" lang="ar" hreflang="ar" data-title="قانون المنافسة" data-language-autonym="العربية" data-language-local-name="Arabic" class="interlanguage-link-target"><span>العربية</span></a></li><li class="interlanguage-link interwiki-az mw-list-item"><a href="https://az.wikipedia.org/wiki/R%C9%99qab%C9%99t_h%C3%BCququ" title="Rəqabət hüququ – Azerbaijani" lang="az" hreflang="az" data-title="Rəqabət hüququ" data-language-autonym="Azərbaycanca" data-language-local-name="Azerbaijani" class="interlanguage-link-target"><span>Azərbaycanca</span></a></li><li class="interlanguage-link interwiki-bar mw-list-item"><a href="https://bar.wikipedia.org/wiki/Wettbeweabsrecht" title="Wettbeweabsrecht – Bavarian" lang="bar" hreflang="bar" data-title="Wettbeweabsrecht" data-language-autonym="Boarisch" data-language-local-name="Bavarian" class="interlanguage-link-target"><span>Boarisch</span></a></li><li class="interlanguage-link interwiki-bs mw-list-item"><a href="https://bs.wikipedia.org/wiki/Pravo_konkurencije" title="Pravo konkurencije – Bosnian" lang="bs" hreflang="bs" data-title="Pravo konkurencije" data-language-autonym="Bosanski" data-language-local-name="Bosnian" class="interlanguage-link-target"><span>Bosanski</span></a></li><li class="interlanguage-link interwiki-ca mw-list-item"><a href="https://ca.wikipedia.org/wiki/Dret_de_la_compet%C3%A8ncia" title="Dret de la competència – Catalan" lang="ca" hreflang="ca" data-title="Dret de la competència" data-language-autonym="Català" data-language-local-name="Catalan" class="interlanguage-link-target"><span>Català</span></a></li><li class="interlanguage-link interwiki-ceb mw-list-item"><a href="https://ceb.wikipedia.org/wiki/Balaod_pangkompetisyon" title="Balaod pangkompetisyon – Cebuano" lang="ceb" hreflang="ceb" data-title="Balaod pangkompetisyon" data-language-autonym="Cebuano" data-language-local-name="Cebuano" class="interlanguage-link-target"><span>Cebuano</span></a></li><li class="interlanguage-link interwiki-da mw-list-item"><a href="https://da.wikipedia.org/wiki/Konkurrenceret" title="Konkurrenceret – Danish" lang="da" hreflang="da" data-title="Konkurrenceret" data-language-autonym="Dansk" data-language-local-name="Danish" class="interlanguage-link-target"><span>Dansk</span></a></li><li class="interlanguage-link interwiki-de mw-list-item"><a href="https://de.wikipedia.org/wiki/Wettbewerbsrecht" title="Wettbewerbsrecht – German" lang="de" hreflang="de" data-title="Wettbewerbsrecht" data-language-autonym="Deutsch" data-language-local-name="German" class="interlanguage-link-target"><span>Deutsch</span></a></li><li class="interlanguage-link interwiki-et mw-list-item"><a href="https://et.wikipedia.org/wiki/Konkurentsi%C3%B5igus" title="Konkurentsiõigus – Estonian" lang="et" hreflang="et" data-title="Konkurentsiõigus" data-language-autonym="Eesti" data-language-local-name="Estonian" class="interlanguage-link-target"><span>Eesti</span></a></li><li class="interlanguage-link interwiki-el mw-list-item"><a href="https://el.wikipedia.org/wiki/%CE%94%CE%AF%CE%BA%CE%B1%CE%B9%CE%BF_%CE%B1%CE%BD%CF%84%CE%B1%CE%B3%CF%89%CE%BD%CE%B9%CF%83%CE%BC%CE%BF%CF%8D" title="Δίκαιο ανταγωνισμού – Greek" lang="el" hreflang="el" data-title="Δίκαιο ανταγωνισμού" data-language-autonym="Ελληνικά" data-language-local-name="Greek" class="interlanguage-link-target"><span>Ελληνικά</span></a></li><li class="interlanguage-link interwiki-es mw-list-item"><a href="https://es.wikipedia.org/wiki/Derecho_de_la_competencia" title="Derecho de la competencia – Spanish" lang="es" hreflang="es" data-title="Derecho de la competencia" data-language-autonym="Español" data-language-local-name="Spanish" class="interlanguage-link-target"><span>Español</span></a></li><li class="interlanguage-link interwiki-eo mw-list-item"><a href="https://eo.wikipedia.org/wiki/Konkurenca_juro" title="Konkurenca juro – Esperanto" lang="eo" hreflang="eo" data-title="Konkurenca juro" data-language-autonym="Esperanto" data-language-local-name="Esperanto" class="interlanguage-link-target"><span>Esperanto</span></a></li><li class="interlanguage-link interwiki-fa mw-list-item"><a href="https://fa.wikipedia.org/wiki/%D9%82%D8%A7%D9%86%D9%88%D9%86_%D8%B1%D9%82%D8%A7%D8%A8%D8%AA" title="قانون رقابت – Persian" lang="fa" hreflang="fa" data-title="قانون رقابت" data-language-autonym="فارسی" data-language-local-name="Persian" class="interlanguage-link-target"><span>فارسی</span></a></li><li class="interlanguage-link interwiki-fr mw-list-item"><a href="https://fr.wikipedia.org/wiki/Droit_de_la_concurrence" title="Droit de la concurrence – French" lang="fr" hreflang="fr" data-title="Droit de la concurrence" data-language-autonym="Français" data-language-local-name="French" class="interlanguage-link-target"><span>Français</span></a></li><li class="interlanguage-link interwiki-ko mw-list-item"><a href="https://ko.wikipedia.org/wiki/%EA%B2%BD%EC%9F%81%EB%B2%95" title="경쟁법 – Korean" lang="ko" hreflang="ko" data-title="경쟁법" data-language-autonym="한국어" data-language-local-name="Korean" class="interlanguage-link-target"><span>한국어</span></a></li><li class="interlanguage-link interwiki-hr mw-list-item"><a href="https://hr.wikipedia.org/wiki/Antitrust" title="Antitrust – Croatian" lang="hr" hreflang="hr" data-title="Antitrust" data-language-autonym="Hrvatski" data-language-local-name="Croatian" class="interlanguage-link-target"><span>Hrvatski</span></a></li><li class="interlanguage-link interwiki-id mw-list-item"><a href="https://id.wikipedia.org/wiki/Antipakat" title="Antipakat – Indonesian" lang="id" hreflang="id" data-title="Antipakat" data-language-autonym="Bahasa Indonesia" data-language-local-name="Indonesian" class="interlanguage-link-target"><span>Bahasa Indonesia</span></a></li><li class="interlanguage-link interwiki-it mw-list-item"><a href="https://it.wikipedia.org/wiki/Legislazione_antimonopolistica" title="Legislazione antimonopolistica – Italian" lang="it" hreflang="it" data-title="Legislazione antimonopolistica" data-language-autonym="Italiano" data-language-local-name="Italian" class="interlanguage-link-target"><span>Italiano</span></a></li><li class="interlanguage-link interwiki-he mw-list-item"><a href="https://he.wikipedia.org/wiki/%D7%94%D7%92%D7%91%D7%9C%D7%99%D7%9D_%D7%A2%D7%A1%D7%A7%D7%99%D7%99%D7%9D" title="הגבלים עסקיים – Hebrew" lang="he" hreflang="he" data-title="הגבלים עסקיים" data-language-autonym="עברית" data-language-local-name="Hebrew" class="interlanguage-link-target"><span>עברית</span></a></li><li class="interlanguage-link interwiki-kk mw-list-item"><a href="https://kk.wikipedia.org/wiki/%D0%9C%D0%BE%D0%BD%D0%BE%D0%BF%D0%BE%D0%BB%D0%B8%D1%8F%D0%B3%D0%B0_%D2%9B%D0%B0%D1%80%D1%81%D1%8B_%D0%B7%D0%B0%D2%A3%D0%BD%D0%B0%D0%BC%D0%B0" title="Монополияга қарсы заңнама – Kazakh" lang="kk" hreflang="kk" data-title="Монополияга қарсы заңнама" data-language-autonym="Қазақша" data-language-local-name="Kazakh" class="interlanguage-link-target"><span>Қазақша</span></a></li><li class="interlanguage-link interwiki-lt mw-list-item"><a href="https://lt.wikipedia.org/wiki/Konkurencijos_teis%C4%97" title="Konkurencijos teisė – Lithuanian" lang="lt" hreflang="lt" data-title="Konkurencijos teisė" data-language-autonym="Lietuvių" data-language-local-name="Lithuanian" class="interlanguage-link-target"><span>Lietuvių</span></a></li><li class="interlanguage-link interwiki-hu mw-list-item"><a href="https://hu.wikipedia.org/wiki/Versenyjog" title="Versenyjog – Hungarian" lang="hu" hreflang="hu" data-title="Versenyjog" data-language-autonym="Magyar" data-language-local-name="Hungarian" class="interlanguage-link-target"><span>Magyar</span></a></li><li class="interlanguage-link interwiki-ms mw-list-item"><a href="https://ms.wikipedia.org/wiki/Undang-undang_persaingan" title="Undang-undang persaingan – Malay" lang="ms" hreflang="ms" data-title="Undang-undang persaingan" data-language-autonym="Bahasa Melayu" data-language-local-name="Malay" class="interlanguage-link-target"><span>Bahasa Melayu</span></a></li><li class="interlanguage-link interwiki-mn mw-list-item"><a href="https://mn.wikipedia.org/wiki/%D3%A8%D1%80%D1%81%D3%A9%D0%BB%D0%B4%D3%A9%D3%A9%D0%BD%D0%B8%D0%B9_%D1%85%D1%83%D1%83%D0%BB%D1%8C" title="Өрсөлдөөний хууль – Mongolian" lang="mn" hreflang="mn" data-title="Өрсөлдөөний хууль" data-language-autonym="Монгол" data-language-local-name="Mongolian" class="interlanguage-link-target"><span>Монгол</span></a></li><li class="interlanguage-link interwiki-nl mw-list-item"><a href="https://nl.wikipedia.org/wiki/Mededingingsrecht" title="Mededingingsrecht – Dutch" lang="nl" hreflang="nl" data-title="Mededingingsrecht" data-language-autonym="Nederlands" data-language-local-name="Dutch" class="interlanguage-link-target"><span>Nederlands</span></a></li><li class="interlanguage-link interwiki-ja mw-list-item"><a href="https://ja.wikipedia.org/wiki/%E7%8B%AC%E5%8D%A0%E7%A6%81%E6%AD%A2%E6%B3%95" title="独占禁止法 – Japanese" lang="ja" hreflang="ja" data-title="独占禁止法" data-language-autonym="日本語" data-language-local-name="Japanese" class="interlanguage-link-target"><span>日本語</span></a></li><li class="interlanguage-link interwiki-no mw-list-item"><a href="https://no.wikipedia.org/wiki/Antitrust" title="Antitrust – Norwegian Bokmål" lang="nb" hreflang="nb" data-title="Antitrust" data-language-autonym="Norsk bokmål" data-language-local-name="Norwegian Bokmål" class="interlanguage-link-target"><span>Norsk bokmål</span></a></li><li class="interlanguage-link interwiki-pl mw-list-item"><a href="https://pl.wikipedia.org/wiki/Prawo_konkurencji" title="Prawo konkurencji – Polish" lang="pl" hreflang="pl" data-title="Prawo konkurencji" data-language-autonym="Polski" data-language-local-name="Polish" class="interlanguage-link-target"><span>Polski</span></a></li><li class="interlanguage-link interwiki-pt mw-list-item"><a href="https://pt.wikipedia.org/wiki/Direito_da_concorr%C3%AAncia" title="Direito da concorrência – Portuguese" lang="pt" hreflang="pt" data-title="Direito da concorrência" data-language-autonym="Português" data-language-local-name="Portuguese" class="interlanguage-link-target"><span>Português</span></a></li><li class="interlanguage-link interwiki-ro mw-list-item"><a href="https://ro.wikipedia.org/wiki/Dreptul_concuren%C8%9Bei" title="Dreptul concurenței – Romanian" lang="ro" hreflang="ro" data-title="Dreptul concurenței" data-language-autonym="Română" data-language-local-name="Romanian" class="interlanguage-link-target"><span>Română</span></a></li><li class="interlanguage-link interwiki-ru mw-list-item"><a href="https://ru.wikipedia.org/wiki/%D0%9A%D0%BE%D0%BD%D0%BA%D1%83%D1%80%D0%B5%D0%BD%D1%82%D0%BD%D0%BE%D0%B5_%D0%BF%D1%80%D0%B0%D0%B2%D0%BE" title="Конкурентное право – Russian" lang="ru" hreflang="ru" data-title="Конкурентное право" data-language-autonym="Русский" data-language-local-name="Russian" class="interlanguage-link-target"><span>Русский</span></a></li><li class="interlanguage-link interwiki-si mw-list-item"><a href="https://si.wikipedia.org/wiki/%E0%B6%AD%E0%B6%BB%E0%B6%9C%E0%B6%9A%E0%B7%8F%E0%B6%BB_%E0%B6%B1%E0%B7%93%E0%B6%AD%E0%B7%92%E0%B6%BA" title="තරගකාර නීතිය – Sinhala" lang="si" hreflang="si" data-title="තරගකාර නීතිය" data-language-autonym="සිංහල" data-language-local-name="Sinhala" class="interlanguage-link-target"><span>සිංහල</span></a></li><li class="interlanguage-link interwiki-simple mw-list-item"><a href="https://simple.wikipedia.org/wiki/Competition_law" title="Competition law – Simple English" lang="en-simple" hreflang="en-simple" data-title="Competition law" data-language-autonym="Simple English" data-language-local-name="Simple English" class="interlanguage-link-target"><span>Simple English</span></a></li><li class="interlanguage-link interwiki-sl mw-list-item"><a href="https://sl.wikipedia.org/wiki/Konkuren%C4%8Dno_pravo" title="Konkurenčno pravo – Slovenian" lang="sl" hreflang="sl" data-title="Konkurenčno pravo" data-language-autonym="Slovenščina" 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<div class="vector-body-before-content"> <div class="mw-indicators"> </div> <div id="siteSub" class="noprint">From Wikipedia, the free encyclopedia</div> </div> <div id="contentSub"><div id="mw-content-subtitle"><span class="mw-redirectedfrom">(Redirected from <a href="/w/index.php?title=Antitrust_law&redirect=no" class="mw-redirect" title="Antitrust law">Antitrust law</a>)</span></div></div> <div id="mw-content-text" class="mw-body-content"><div class="mw-content-ltr mw-parser-output" lang="en" dir="ltr"><div class="shortdescription nomobile noexcerpt noprint searchaux" style="display:none">Law maintaining market competition</div> <style data-mw-deduplicate="TemplateStyles:r1236090951">.mw-parser-output .hatnote{font-style:italic}.mw-parser-output div.hatnote{padding-left:1.6em;margin-bottom:0.5em}.mw-parser-output .hatnote i{font-style:normal}.mw-parser-output .hatnote+link+.hatnote{margin-top:-0.5em}@media print{body.ns-0 .mw-parser-output .hatnote{display:none!important}}</style><div role="note" class="hatnote navigation-not-searchable">"Antitrust" and "Anti-Monopoly Law" redirect here. For the film, see <a href="/wiki/Antitrust_(film)" title="Antitrust (film)"><i>Antitrust</i> (film)</a>. For the law specific to China, see <a href="/wiki/Anti_Monopoly_Law_of_China" class="mw-redirect" title="Anti Monopoly Law of China">Anti Monopoly Law of China</a>.</div> <p class="mw-empty-elt"> </p> <style data-mw-deduplicate="TemplateStyles:r1129693374">.mw-parser-output .hlist dl,.mw-parser-output .hlist ol,.mw-parser-output .hlist ul{margin:0;padding:0}.mw-parser-output .hlist dd,.mw-parser-output .hlist dt,.mw-parser-output .hlist li{margin:0;display:inline}.mw-parser-output .hlist.inline,.mw-parser-output .hlist.inline dl,.mw-parser-output .hlist.inline ol,.mw-parser-output .hlist.inline ul,.mw-parser-output .hlist dl dl,.mw-parser-output .hlist dl ol,.mw-parser-output .hlist dl ul,.mw-parser-output .hlist ol dl,.mw-parser-output .hlist ol ol,.mw-parser-output .hlist ol ul,.mw-parser-output .hlist ul dl,.mw-parser-output .hlist ul ol,.mw-parser-output .hlist ul ul{display:inline}.mw-parser-output .hlist .mw-empty-li{display:none}.mw-parser-output .hlist dt::after{content:": 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a{color:var(--color-progressive)!important}}@media print{body.ns-0 .mw-parser-output .sidebar{display:none!important}}</style><table class="sidebar nomobile nowraplinks" style="width: 18em;"><tbody><tr><th class="sidebar-title"><a class="mw-selflink selflink">Competition law</a></th></tr><tr><td class="sidebar-image"><figure class="mw-halign-center" typeof="mw:File"><a href="/wiki/File:Scale_of_justice_2.svg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/0/0e/Scale_of_justice_2.svg/100px-Scale_of_justice_2.svg.png" decoding="async" width="100" height="102" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/0/0e/Scale_of_justice_2.svg/150px-Scale_of_justice_2.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/0/0e/Scale_of_justice_2.svg/200px-Scale_of_justice_2.svg.png 2x" data-file-width="204" data-file-height="208" /></a><figcaption></figcaption></figure></td></tr><tr><th class="sidebar-heading" style="background:#98FB98;"> Basic concepts</th></tr><tr><td class="sidebar-content" style="text-align: left"> <ul><li><a href="/wiki/History_of_competition_law" title="History of competition law">History of competition law</a></li> <li><a href="/wiki/Monopoly" title="Monopoly">Monopoly</a> and <a href="/wiki/Oligopoly" title="Oligopoly">oligopoly</a> <ul><li><a href="/wiki/Coercive_monopoly" title="Coercive monopoly">Coercive monopoly</a></li> <li><a href="/wiki/Natural_monopoly" title="Natural monopoly">Natural monopoly</a></li></ul></li> <li><a href="/wiki/Barriers_to_entry" title="Barriers to entry">Barriers to entry</a></li> <li><a href="/wiki/Herfindahl%E2%80%93Hirschman_index" title="Herfindahl–Hirschman index">Herfindahl–Hirschman index</a></li> <li><a href="/wiki/Market_concentration" title="Market concentration">Market concentration</a></li> <li><a href="/wiki/Market_power" title="Market power">Market power</a></li> <li><a href="/wiki/Small_but_significant_and_non-transitory_increase_in_price" title="Small but significant and non-transitory increase in price">SSNIP test</a></li> <li><a href="/wiki/Relevant_market" title="Relevant market">Relevant market</a></li> <li><a href="/wiki/Merger_control" title="Merger control">Merger control</a></li></ul></td> </tr><tr><th class="sidebar-heading" style="background:#98FB98;"> <a href="/wiki/Anti-competitive_practices" title="Anti-competitive practices">Anti-competitive practices</a></th></tr><tr><td class="sidebar-content" style="text-align: left"> <ul><li><a href="/wiki/Monopolization" title="Monopolization">Monopolization</a></li> <li><a href="/wiki/Collusion" title="Collusion">Collusion</a> <ul><li>Formation of <a href="/wiki/Cartel" title="Cartel">cartels</a></li> <li><a href="/wiki/Price_fixing" title="Price fixing">Price fixing</a> (<a href="/wiki/Price_fixing_cases" class="mw-redirect" title="Price fixing cases">cases</a>)</li> <li><a href="/wiki/Bid_rigging" title="Bid rigging">Bid rigging</a></li> <li><a href="/wiki/Tacit_collusion" title="Tacit collusion">Tacit collusion</a></li> <li><a href="/wiki/Occupational_licensing" title="Occupational licensing">Occupational licensing</a></li></ul></li> <li><a href="/wiki/Product_bundling" title="Product bundling">Product bundling</a> and <a href="/wiki/Tying_(commerce)" title="Tying (commerce)">tying</a></li> <li><a href="/wiki/Refusal_to_deal" title="Refusal to deal">Refusal to deal</a> <ul><li><a href="/wiki/Group_boycott" title="Group boycott">Group boycott</a></li> <li><a href="/wiki/Essential_facilities_doctrine" title="Essential facilities doctrine">Essential facilities</a></li></ul></li> <li><a href="/wiki/Exclusive_dealing" title="Exclusive dealing">Exclusive dealing</a></li> <li><a href="/wiki/Dividing_territories" title="Dividing territories">Dividing territories</a></li> <li><a href="/wiki/Occupational_closure" title="Occupational closure">Occupational closure</a></li> <li><a href="/wiki/Predatory_pricing" title="Predatory pricing">Predatory pricing</a></li> <li><a href="/wiki/Patent_misuse" title="Patent misuse">Misuse of patents</a> and <a href="/wiki/Copyright_misuse" title="Copyright misuse">copyrights</a></li> <li><a href="/wiki/Regulatory_capture" title="Regulatory capture">Regulatory capture</a></li> <li><a href="/wiki/Rent-seeking" title="Rent-seeking">Rent-seeking</a></li></ul></td> </tr><tr><th class="sidebar-heading" style="background:#98FB98;"> Enforcement authorities and organizations</th></tr><tr><td class="sidebar-content" style="text-align: left"> <ul><li><a href="/wiki/International_Competition_Network" title="International Competition Network">International Competition Network</a></li> <li><a href="/wiki/Competition_regulator" title="Competition regulator">List of competition regulators</a></li></ul></td> </tr><tr><td class="sidebar-navbar"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><style data-mw-deduplicate="TemplateStyles:r1239400231">.mw-parser-output .navbar{display:inline;font-size:88%;font-weight:normal}.mw-parser-output .navbar-collapse{float:left;text-align:left}.mw-parser-output .navbar-boxtext{word-spacing:0}.mw-parser-output .navbar ul{display:inline-block;white-space:nowrap;line-height:inherit}.mw-parser-output .navbar-brackets::before{margin-right:-0.125em;content:"[ "}.mw-parser-output .navbar-brackets::after{margin-left:-0.125em;content:" ]"}.mw-parser-output .navbar li{word-spacing:-0.125em}.mw-parser-output .navbar a>span,.mw-parser-output .navbar a>abbr{text-decoration:inherit}.mw-parser-output .navbar-mini abbr{font-variant:small-caps;border-bottom:none;text-decoration:none;cursor:inherit}.mw-parser-output .navbar-ct-full{font-size:114%;margin:0 7em}.mw-parser-output .navbar-ct-mini{font-size:114%;margin:0 4em}html.skin-theme-clientpref-night .mw-parser-output .navbar li a abbr{color:var(--color-base)!important}@media(prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .navbar li a abbr{color:var(--color-base)!important}}@media print{.mw-parser-output .navbar{display:none!important}}</style><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Competition_law" title="Template:Competition law"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Competition_law" title="Template talk:Competition law"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Competition_law" title="Special:EditPage/Template:Competition law"><abbr title="Edit this template">e</abbr></a></li></ul></div></td></tr></tbody></table> <p><b>Competition law</b> is the field of <a href="/wiki/Law" title="Law">law</a> that promotes or seeks to maintain <a href="/wiki/Market_competition" class="mw-redirect" title="Market competition">market competition</a> by regulating <a href="/wiki/Anti-competitive" class="mw-redirect" title="Anti-competitive">anti-competitive</a> conduct by companies.<sup id="cite_ref-papers.ssrn.com_1-0" class="reference"><a href="#cite_note-papers.ssrn.com-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-Taylor_2006_1_2-0" class="reference"><a href="#cite_note-Taylor_2006_1-2"><span class="cite-bracket">[</span>2<span class="cite-bracket">]</span></a></sup> Competition law is implemented through public and private enforcement.<sup id="cite_ref-3" class="reference"><a href="#cite_note-3"><span class="cite-bracket">[</span>3<span class="cite-bracket">]</span></a></sup> It is also known as <b>antitrust law</b> (or just <b>antitrust</b><sup id="cite_ref-4" class="reference"><a href="#cite_note-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup>), <b>anti-monopoly law</b>,<sup id="cite_ref-papers.ssrn.com_1-1" class="reference"><a href="#cite_note-papers.ssrn.com-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup> and <b>trade practices law</b>; the act of pushing for antitrust measures or attacking monopolistic companies (known as <a href="/wiki/Trust_(business)" title="Trust (business)">trusts</a>) is commonly known as <b>trust busting</b>.<sup id="cite_ref-5" class="reference"><a href="#cite_note-5"><span class="cite-bracket">[</span>5<span class="cite-bracket">]</span></a></sup> </p><p>The history of competition law reaches back to the <a href="/wiki/Roman_Empire" title="Roman Empire">Roman Empire</a>. The business practices of market traders, <a href="/wiki/Guild" title="Guild">guilds</a> and governments have always been subject to scrutiny, and sometimes severe sanctions. Since the 20th century, competition law has become global.<sup id="cite_ref-6" class="reference"><a href="#cite_note-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup> The two largest and most influential systems of competition regulation are <a href="/wiki/United_States_antitrust_law" title="United States antitrust law">United States antitrust law</a> and <a href="/wiki/European_Union_competition_law" title="European Union competition law">European Union competition law</a>. National and regional competition authorities across the world have formed international support and enforcement networks. </p><p>Modern competition law has historically evolved on a national level to promote and maintain fair competition in markets principally within the territorial boundaries of <a href="/wiki/Nation-states" class="mw-redirect" title="Nation-states">nation-states</a>. National competition law usually does not cover activity beyond territorial borders unless it has significant effects at nation-state level.<sup id="cite_ref-Taylor_2006_1_2-1" class="reference"><a href="#cite_note-Taylor_2006_1-2"><span class="cite-bracket">[</span>2<span class="cite-bracket">]</span></a></sup> Countries may allow for <a href="/wiki/Extraterritorial_jurisdiction" title="Extraterritorial jurisdiction">extraterritorial jurisdiction</a> in competition cases based on so-called "effects doctrine".<sup id="cite_ref-Taylor_2006_1_2-2" class="reference"><a href="#cite_note-Taylor_2006_1-2"><span class="cite-bracket">[</span>2<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-7" class="reference"><a href="#cite_note-7"><span class="cite-bracket">[</span>7<span class="cite-bracket">]</span></a></sup> The protection of international competition is governed by international competition agreements. In 1945, during the negotiations preceding the adoption of the <a href="/wiki/General_Agreement_on_Tariffs_and_Trade" title="General Agreement on Tariffs and Trade">General Agreement on Tariffs and Trade</a> (GATT) in 1947, limited international competition obligations were proposed within the <i>Charter for an International Trade Organisation</i>. These obligations were not included in GATT, but in 1994, with the conclusion of the <a href="/wiki/Uruguay_Round" title="Uruguay Round">Uruguay Round</a> of GATT multilateral negotiations, the <a href="/wiki/World_Trade_Organization" title="World Trade Organization">World Trade Organization</a> (WTO) was created. The <i>Agreement Establishing the WTO</i> included a range of limited provisions on various cross-border competition issues on a sector specific basis.<sup id="cite_ref-8" class="reference"><a href="#cite_note-8"><span class="cite-bracket">[</span>8<span class="cite-bracket">]</span></a></sup> Competition law has failed to prevent monopolization of economic activity. "The global economy is dominated by a handful of powerful transnational corporations (TNCs). ... Only 737 top holders accumulate 80% of the control over the value of all ... network control is much more unequally distributed than wealth. In particular, the top ranked actors hold a control ten times bigger than what could be expected based on their wealth. ... Recent works have shown that when a financial network is very densely connected it is prone to systemic risk. Indeed, while in good times the network is seemingly robust, in bad times firms go into distress simultaneously. This knife-edge property was witnessed during the recent (2009) financial turmoil "<sup id="cite_ref-9" class="reference"><a href="#cite_note-9"><span class="cite-bracket">[</span>9<span class="cite-bracket">]</span></a></sup> </p> <meta property="mw:PageProp/toc" /> <div class="mw-heading mw-heading2"><h2 id="Starting_Point">Starting Point</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Competition_law&action=edit&section=1" title="Edit section: Starting Point"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Competition law, or antitrust law, has three main elements: </p> <ul><li>prohibiting agreements or practices that restrict free trading and competition between business. This includes in particular the repression of free trade caused by <a href="/wiki/Cartel" title="Cartel">cartels</a>.</li> <li>banning abusive behavior by a firm <a href="/wiki/Dominance_(economics)" class="mw-redirect" title="Dominance (economics)">dominating</a> a market, or anti-competitive practices that tend to lead to such a dominant position. Practices controlled in this way may include <a href="/wiki/Predatory_pricing" title="Predatory pricing">predatory pricing</a>, <a href="/wiki/Tying_(commerce)" title="Tying (commerce)">tying</a>, <a href="/wiki/Price_gouging" title="Price gouging">price gouging</a>, and <a href="/wiki/Refusal_to_deal" title="Refusal to deal">refusal to deal</a>.</li> <li>supervising the <a href="/wiki/Mergers_and_acquisitions" title="Mergers and acquisitions">mergers and acquisitions</a> of large corporations, including some <a href="/wiki/Joint_venture" title="Joint venture">joint ventures</a>. Transactions that are considered to threaten the competitive process can be prohibited altogether, or approved subject to "remedies" such as an obligation to divest part of the merged business or to offer licenses or access to facilities to enable other businesses to continue competing.</li></ul> <p>Substance and practice of competition law varies from jurisdiction to jurisdiction. Protecting the interests of consumers (<a href="/wiki/Welfare_economics" title="Welfare economics">consumer welfare</a>) and ensuring that entrepreneurs have an opportunity to compete in the <a href="/wiki/Market_economy" title="Market economy">market economy</a> are often treated as important objectives. Competition law is closely connected with law on deregulation of access to markets, state aids and subsidies, the <a href="/wiki/Privatization" title="Privatization">privatization</a> of state owned assets and the establishment of independent sector regulators, among other market-oriented supply-side policies. In recent decades, competition law has been viewed as a way to provide better <a href="/wiki/Public_services" class="mw-redirect" title="Public services">public services</a>.<sup id="cite_ref-10" class="reference"><a href="#cite_note-10"><span class="cite-bracket">[</span>10<span class="cite-bracket">]</span></a></sup> <a href="/wiki/Robert_Bork" title="Robert Bork">Robert Bork</a> argued that competition laws can produce adverse effects when they reduce competition by protecting inefficient competitors and when costs of legal intervention are greater than benefits for the consumers.<sup id="cite_ref-11" class="reference"><a href="#cite_note-11"><span class="cite-bracket">[</span>11<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="History">History</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Competition_law&action=edit&section=2" title="Edit section: History"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/History_of_competition_law" title="History of competition law">History of competition law</a></div> <div class="mw-heading mw-heading3"><h3 id="Roman_legislation">Roman legislation</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Competition_law&action=edit&section=3" title="Edit section: Roman legislation"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>An early example was enacted during the <a href="/wiki/Roman_Republic" title="Roman Republic">Roman Republic</a> around 50 BC.<sup id="cite_ref-12" class="reference"><a href="#cite_note-12"><span class="cite-bracket">[</span>12<span class="cite-bracket">]</span></a></sup> To protect the <a href="/wiki/Grain_trade" title="Grain trade">grain trade</a>, heavy fines were imposed on anyone directly, deliberately, and insidiously stopping supply ships.<sup id="cite_ref-Wilberforce_1966_p._20_13-0" class="reference"><a href="#cite_note-Wilberforce_1966_p._20-13"><span class="cite-bracket">[</span>13<span class="cite-bracket">]</span></a></sup> Under <a href="/wiki/Diocletian" title="Diocletian">Diocletian</a> in 301 A.D., an <a href="/wiki/Edict_on_Maximum_Prices" title="Edict on Maximum Prices">edict</a> imposed the death penalty for anyone violating a tariff system, for example by buying up, concealing, or contriving the scarcity of everyday goods.<sup id="cite_ref-Wilberforce_1966_p._20_13-1" class="reference"><a href="#cite_note-Wilberforce_1966_p._20-13"><span class="cite-bracket">[</span>13<span class="cite-bracket">]</span></a></sup> More legislation came under the constitution of <a href="/wiki/Zeno_(emperor)" title="Zeno (emperor)">Zeno</a> of 483 A.D., which can be traced into Florentine municipal laws of 1322 and 1325.<sup id="cite_ref-14" class="reference"><a href="#cite_note-14"><span class="cite-bracket">[</span>14<span class="cite-bracket">]</span></a></sup> This provided for confiscation of property and banishment for any trade combination or joint action of monopolies private <i>or</i> granted by the Emperor. Zeno rescinded all previously granted exclusive rights.<sup id="cite_ref-Wilberforce_1966_p._21_15-0" class="reference"><a href="#cite_note-Wilberforce_1966_p._21-15"><span class="cite-bracket">[</span>15<span class="cite-bracket">]</span></a></sup> <a href="/wiki/Justinian_I" title="Justinian I">Justinian I</a> subsequently introduced legislation to pay officials to manage state monopolies.<sup id="cite_ref-Wilberforce_1966_p._21_15-1" class="reference"><a href="#cite_note-Wilberforce_1966_p._21-15"><span class="cite-bracket">[</span>15<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Middle_Ages">Middle Ages</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Competition_law&action=edit&section=4" title="Edit section: Middle Ages"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Legislation in England to control monopolies and restrictive practices was in force well before the <a href="/wiki/Norman_Conquest" title="Norman Conquest">Norman Conquest</a>.<sup id="cite_ref-Wilberforce_1966_p._21_15-2" class="reference"><a href="#cite_note-Wilberforce_1966_p._21-15"><span class="cite-bracket">[</span>15<span class="cite-bracket">]</span></a></sup> The <a href="/wiki/Domesday_Book" title="Domesday Book">Domesday Book</a> recorded that "<a href="/wiki/Engrossing_(law)" title="Engrossing (law)">foresteel</a>" (i.e. forestalling, the practice of buying up goods before they reach market and then inflating the prices) was one of three <a href="/wiki/Asset_forfeiture" title="Asset forfeiture">forfeitures</a> that <a href="/wiki/King_Edward_the_Confessor" class="mw-redirect" title="King Edward the Confessor">King Edward the Confessor</a> could carry out through England.<sup id="cite_ref-16" class="reference"><a href="#cite_note-16"><span class="cite-bracket">[</span>16<span class="cite-bracket">]</span></a></sup> But concern for fair prices also led to attempts to directly regulate the market. Under <a href="/wiki/Henry_III_of_England" title="Henry III of England">Henry III</a> an act was passed in 1266<sup id="cite_ref-17" class="reference"><a href="#cite_note-17"><span class="cite-bracket">[</span>17<span class="cite-bracket">]</span></a></sup> to fix bread and ale prices in correspondence with grain prices laid down by the <a href="/wiki/Assize" class="mw-redirect" title="Assize">assizes</a>. Penalties for breach included <a href="/wiki/Amercement" title="Amercement">amercements</a>, <a href="/wiki/Pillory" title="Pillory">pillory</a> and <a href="/wiki/Cucking_stool" class="mw-redirect" title="Cucking stool">tumbrel</a>.<sup id="cite_ref-18" class="reference"><a href="#cite_note-18"><span class="cite-bracket">[</span>18<span class="cite-bracket">]</span></a></sup> A 14th-century statute labelled forestallers as "oppressors of the poor and the community at large and enemies of the whole country".<sup id="cite_ref-19" class="reference"><a href="#cite_note-19"><span class="cite-bracket">[</span>19<span class="cite-bracket">]</span></a></sup> Under <a href="/wiki/Edward_III_of_England" title="Edward III of England">King Edward III</a> the <a href="/wiki/Statute_of_Labourers_1351" title="Statute of Labourers 1351">Statute of Labourers</a> of 1349<sup id="cite_ref-20" class="reference"><a href="#cite_note-20"><span class="cite-bracket">[</span>20<span class="cite-bracket">]</span></a></sup> fixed wages of artificers and workmen and decreed that foodstuffs should be sold at reasonable prices. On top of existing penalties, the statute stated that overcharging merchants must pay the injured party double the sum he received, an idea that has been replicated in <a href="/wiki/Punitive_damages" title="Punitive damages">punitive</a> <a href="/wiki/Treble_damages" title="Treble damages">treble damages</a> under <a href="/wiki/US_antitrust_law" class="mw-redirect" title="US antitrust law">US antitrust law</a>. Also under Edward III, the following statutory provision outlawed trade combination.<sup id="cite_ref-21" class="reference"><a href="#cite_note-21"><span class="cite-bracket">[</span>21<span class="cite-bracket">]</span></a></sup> </p> <style data-mw-deduplicate="TemplateStyles:r1244412712">.mw-parser-output .templatequote{overflow:hidden;margin:1em 0;padding:0 32px}.mw-parser-output .templatequotecite{line-height:1.5em;text-align:left;margin-top:0}@media(min-width:500px){.mw-parser-output .templatequotecite{padding-left:1.6em}}</style><blockquote class="templatequote"><p>... we have ordained and established, that no merchant or other shall make Confederacy, Conspiracy, Coin, Imagination, or Murmur, or Evil Device in any point that may turn to the Impeachment, Disturbance, Defeating or Decay of the said Staples, or of anything that to them pertaineth, or may pertain.</p></blockquote> <p>In continental Europe, competition principles developed in <span title="Latin-language text"><i lang="la"><a href="/wiki/Lex_mercatoria" title="Lex mercatoria">lex mercatoria</a></i></span>. Examples of legislation enshrining competition principles include the <i>constitutiones juris metallici</i> by <a href="/wiki/Wenceslaus_II" class="mw-redirect" title="Wenceslaus II">Wenceslaus II</a> of <a href="/wiki/Bohemia" title="Bohemia">Bohemia</a> between 1283 and 1305, condemning combination of ore traders increasing prices; the Municipal Statutes of Florence in 1322 and 1325 followed <a href="/wiki/Zeno_(emperor)" title="Zeno (emperor)">Zeno</a>'s legislation against state monopolies; and under <a href="/wiki/Emperor_Charles_V" class="mw-redirect" title="Emperor Charles V">Emperor Charles V</a> in the <a href="/wiki/Holy_Roman_Empire" title="Holy Roman Empire">Holy Roman Empire</a> a law was passed "to prevent losses resulting from monopolies and improper contracts which many merchants and artisans made in the Netherlands". In 1553, <a href="/wiki/Henry_VIII_of_England" class="mw-redirect" title="Henry VIII of England">Henry VIII of England</a> reintroduced tariffs for foodstuffs, designed to stabilize prices, in the face of fluctuations in supply from overseas. So the legislation read here that whereas, </p> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1244412712"><blockquote class="templatequote"><p>it is very hard and difficult to put certain prices to any such things ... [it is necessary because] prices of such victuals be many times enhanced and raised by the Greedy Covetousness and Appetites of the Owners of such Victuals, by occasion of ingrossing and regrating the same, more than upon any reasonable or just ground or cause, to the great damage and impoverishing of the King's subjects.<sup id="cite_ref-22" class="reference"><a href="#cite_note-22"><span class="cite-bracket">[</span>22<span class="cite-bracket">]</span></a></sup></p></blockquote> <p>Around this time organizations representing various tradesmen and handicrafts people, known as <a href="/wiki/Guild" title="Guild">guilds</a> had been developing, and enjoyed many concessions and exemptions from the laws against monopolies. The privileges conferred were not abolished until the Municipal Corporations Act 1835. </p> <div class="mw-heading mw-heading3"><h3 id="Early_competition_law_in_Europe">Early competition law in Europe</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Competition_law&action=edit&section=5" title="Edit section: Early competition law in Europe"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <figure class="mw-default-size" typeof="mw:File/Thumb"><a href="/wiki/File:Edward_coke.jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/3/33/Edward_coke.jpg/220px-Edward_coke.jpg" decoding="async" width="220" height="282" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/3/33/Edward_coke.jpg/330px-Edward_coke.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/3/33/Edward_coke.jpg/440px-Edward_coke.jpg 2x" data-file-width="1200" data-file-height="1539" /></a><figcaption>Judge <a href="/wiki/Edward_Coke" title="Edward Coke">Coke</a> in the 17th century thought that general restraints on trade were unreasonable.</figcaption></figure> <p>The English common law of <a href="/wiki/Restraint_of_trade" title="Restraint of trade">restraint of trade</a> is the direct predecessor to modern competition law later developed in the US.<sup id="cite_ref-23" class="reference"><a href="#cite_note-23"><span class="cite-bracket">[</span>23<span class="cite-bracket">]</span></a></sup> It is based on the prohibition of agreements that ran counter to public policy, unless the <a href="/wiki/Reasonable_person" title="Reasonable person">reasonableness</a> of an agreement could be shown. It effectively prohibited agreements designed to restrain another's trade. The 1414 <i>Dyer's</i> is the first known restrictive trade agreement to be examined under English common law. A dyer had given a bond not to exercise his trade in the same town as the plaintiff for six months but the plaintiff had promised nothing in return. On hearing the plaintiff's attempt to enforce this restraint, Hull J exclaimed, "per Dieu, if the plaintiff were here, he should go to prison until he had paid a fine to the King". The court denied the collection of a bond for the dyer's breach of agreement because the agreement was held to be a restriction on trade.<sup id="cite_ref-24" class="reference"><a href="#cite_note-24"><span class="cite-bracket">[</span>24<span class="cite-bracket">]</span></a></sup> English courts subsequently decided a range of cases which gradually developed competition related case law, which eventually were transformed into <a href="/wiki/Statute_law" class="mw-redirect" title="Statute law">statute law</a>.<sup id="cite_ref-Papadopoulos_2010_7_25-0" class="reference"><a href="#cite_note-Papadopoulos_2010_7-25"><span class="cite-bracket">[</span>25<span class="cite-bracket">]</span></a></sup> </p> <figure class="mw-default-size mw-halign-left" typeof="mw:File/Thumb"><a href="/wiki/File:Elizabeth_I_(Armada_Portrait).jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/7/7b/Elizabeth_I_%28Armada_Portrait%29.jpg/220px-Elizabeth_I_%28Armada_Portrait%29.jpg" decoding="async" width="220" height="176" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/7/7b/Elizabeth_I_%28Armada_Portrait%29.jpg/330px-Elizabeth_I_%28Armada_Portrait%29.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/7/7b/Elizabeth_I_%28Armada_Portrait%29.jpg/440px-Elizabeth_I_%28Armada_Portrait%29.jpg 2x" data-file-width="1248" data-file-height="1000" /></a><figcaption>Elizabeth I assured monopolies would not be abused in the early era of <a href="/wiki/Globalization" title="Globalization">globalization</a>.</figcaption></figure> <p>Europe around the 16th century was changing quickly. The <a href="/wiki/New_world" class="mw-redirect" title="New world">new world</a> had just been opened up, overseas trade and plunder was pouring wealth through the international economy and attitudes among businessmen were shifting. In 1561 a system of Industrial Monopoly Licenses, similar to modern <a href="/wiki/Patent" title="Patent">patents</a> had been introduced into England. But by the reign of <a href="/wiki/Queen_Elizabeth_I" class="mw-redirect" title="Queen Elizabeth I">Queen Elizabeth I</a>, the system was reputedly much abused and used merely to preserve privileges, encouraging nothing new in the way of innovation or manufacture.<sup id="cite_ref-26" class="reference"><a href="#cite_note-26"><span class="cite-bracket">[</span>26<span class="cite-bracket">]</span></a></sup> In response English courts developed case law on restrictive business practices. The statute followed the unanimous decision in <i>Darcy v. Allein</i> 1602, also known as the <a href="/wiki/Case_of_Monopolies" class="mw-redirect" title="Case of Monopolies">Case of Monopolies</a>,<sup id="cite_ref-27" class="reference"><a href="#cite_note-27"><span class="cite-bracket">[</span>27<span class="cite-bracket">]</span></a></sup> of the <a href="/wiki/Court_of_King%27s_Bench_(England)" title="Court of King's Bench (England)">King's Bench</a> to declare void the sole right that Queen Elizabeth I had granted to Darcy to import playing cards into England.<sup id="cite_ref-Papadopoulos_2010_7_25-1" class="reference"><a href="#cite_note-Papadopoulos_2010_7-25"><span class="cite-bracket">[</span>25<span class="cite-bracket">]</span></a></sup> Darcy, an officer of the Queen's household, claimed damages for the defendant's infringement of this right. The court found the grant void and that three characteristics of <a href="/wiki/Monopoly" title="Monopoly">monopoly</a> were (1) price increases, (2) quality decrease, (3) the tendency to reduce artificers to idleness and beggary. This put an end to granted monopolies until <a href="/wiki/James_I_of_England" class="mw-redirect" title="James I of England">King James I</a> began to grant them again. In 1623 Parliament passed the <a href="/wiki/Statute_of_Monopolies" title="Statute of Monopolies">Statute of Monopolies</a>, which for the most part excluded <a href="/wiki/Patent" title="Patent">patent</a> rights from its prohibitions, as well as guilds. From <a href="/wiki/Charles_I_of_England" title="Charles I of England">King Charles I</a>, through the civil war and to <a href="/wiki/Charles_II_of_England" title="Charles II of England">King Charles II</a>, monopolies continued, especially useful for raising revenue.<sup id="cite_ref-28" class="reference"><a href="#cite_note-28"><span class="cite-bracket">[</span>28<span class="cite-bracket">]</span></a></sup> Then in 1684, in <i>East India Company v. Sandys</i> it was decided that exclusive rights to trade only outside the realm were legitimate, on the grounds that only large and powerful concerns could trade in the conditions prevailing overseas.<sup id="cite_ref-29" class="reference"><a href="#cite_note-29"><span class="cite-bracket">[</span>29<span class="cite-bracket">]</span></a></sup> </p><p>The development of early competition law in England and Europe progressed with the diffusion of writings such as <i><a href="/wiki/The_Wealth_of_Nations" title="The Wealth of Nations">The Wealth of Nations</a></i> by <a href="/wiki/Adam_Smith" title="Adam Smith">Adam Smith</a>, who first established the concept of the <i><a href="/wiki/Market_economy" title="Market economy">market economy</a></i>. At the same time <a href="/wiki/Industrialisation" title="Industrialisation">industrialisation</a> replaced the individual <a href="/wiki/Artisan" title="Artisan">artisan</a>, or group of artisans, with paid labourers and machine-based production. Commercial success became increasingly dependent on maximizing production while minimizing cost. Therefore, the size of a company became increasingly important, and a number of European countries responded by enacting laws to regulate large companies that restricted trade. Following the <a href="/wiki/French_Revolution" title="French Revolution">French Revolution</a> in 1789 the law of 14–17 June 1791 declared agreements by members of the same trade that fixed the price of an industry or labour as void, unconstitutional, and hostile to liberty. Similarly, the Austrian Penal Code of 1852 established that "agreements ... to raise the price of a commodity ... to the disadvantage of the public should be punished as misdemeanours". Austria passed a law in 1870 abolishing the penalties, though such agreements remained void. However, in Germany laws clearly validated agreements between firms to raise prices. Throughout the 18th and 19th centuries, ideas that dominant private companies or legal monopolies could excessively restrict trade were further developed in Europe. However, as in the late 19th century, a depression spread through Europe, known as the <a href="/wiki/Panic_of_1873" title="Panic of 1873">Panic of 1873</a>, ideas of competition lost favour, and it was felt that companies had to co-operate by forming <a href="/wiki/Cartels" class="mw-redirect" title="Cartels">cartels</a> to withstand huge pressures on prices and profits.<sup id="cite_ref-30" class="reference"><a href="#cite_note-30"><span class="cite-bracket">[</span>30<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Modern_competition_law">Modern competition law</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Competition_law&action=edit&section=6" title="Edit section: Modern competition law"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>While the development of competition law stalled in Europe during the late 19th century, in 1889 <a href="/wiki/Canada" title="Canada">Canada</a> enacted what is considered the first competition statute of modern times. The <i>Act for the Prevention and Suppression of Combinations formed in restraint of Trade</i> was passed one year before the United States enacted the most famous legal statute on competition law, the <a href="/wiki/Sherman_Act" class="mw-redirect" title="Sherman Act">Sherman Act</a> of 1890. It was named after <a href="/wiki/Senator_John_Sherman" class="mw-redirect" title="Senator John Sherman">Senator John Sherman</a> who argued that the Act "does not announce a new principle of law, but applies old and well recognised principles of common law".<sup id="cite_ref-bare_url_31-0" class="reference"><a href="#cite_note-bare_url-31"><span class="cite-bracket">[</span>31<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="United_States_antitrust">United States antitrust</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Competition_law&action=edit&section=7" title="Edit section: United States antitrust"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/United_States_antitrust_law" title="United States antitrust law">United States antitrust law</a></div> <figure class="mw-default-size mw-halign-left" typeof="mw:File/Thumb"><a href="/wiki/File:Senatorial_Round_House_by_Thomas_Nast_1886.jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/9/9c/Senatorial_Round_House_by_Thomas_Nast_1886.jpg/220px-Senatorial_Round_House_by_Thomas_Nast_1886.jpg" decoding="async" width="220" height="231" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/9/9c/Senatorial_Round_House_by_Thomas_Nast_1886.jpg/330px-Senatorial_Round_House_by_Thomas_Nast_1886.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/9/9c/Senatorial_Round_House_by_Thomas_Nast_1886.jpg/440px-Senatorial_Round_House_by_Thomas_Nast_1886.jpg 2x" data-file-width="2378" data-file-height="2496" /></a><figcaption>Senatorial Round House by <a href="/wiki/Thomas_Nast" title="Thomas Nast">Thomas Nast</a>, 1886</figcaption></figure> <p>The <a href="/wiki/Sherman_Act" class="mw-redirect" title="Sherman Act">Sherman Act</a> of 1890 attempted to outlaw the restriction of competition by large companies, who co-operated with rivals to fix outputs, prices and market shares, initially through <i>pools</i> and later through <i>trusts</i>. Trusts first appeared in the US railroads, where the capital requirement of railroad construction precluded competitive services in then scarcely settled territories. This trust allowed railroads to discriminate on rates imposed and services provided to consumers and businesses and to destroy potential competitors. Different trusts could be dominant in different industries. The <a href="/wiki/Standard_Oil_Company" class="mw-redirect" title="Standard Oil Company">Standard Oil Company</a> trust in the 1880s controlled several markets, including the market in <a href="/wiki/Fuel_oil" title="Fuel oil">fuel oil</a>, <a href="/wiki/Lead" title="Lead">lead</a> and <a href="/wiki/Whiskey" class="mw-redirect" title="Whiskey">whiskey</a>.<sup id="cite_ref-bare_url_31-1" class="reference"><a href="#cite_note-bare_url-31"><span class="cite-bracket">[</span>31<span class="cite-bracket">]</span></a></sup> Vast numbers of citizens became sufficiently aware and publicly concerned about how the trusts negatively impacted them that the Act became a priority for both major parties. A primary concern of this act is that competitive markets themselves should provide the primary regulation of prices, outputs, interests and profits. Instead, the Act outlawed anticompetitive practices, codifying the common law restraint of trade doctrine.<sup id="cite_ref-32" class="reference"><a href="#cite_note-32"><span class="cite-bracket">[</span>32<span class="cite-bracket">]</span></a></sup> Rudolph Peritz has argued that competition law in the United States has evolved around two sometimes conflicting concepts of competition: first that of individual liberty, free of government intervention, and second a fair competitive environment free of excessive <a href="/wiki/Economic_power" title="Economic power">economic power</a>. Since the enactment of the Sherman Act enforcement of competition law has been based on various economic theories adopted by Government.<sup id="cite_ref-33" class="reference"><a href="#cite_note-33"><span class="cite-bracket">[</span>33<span class="cite-bracket">]</span></a></sup> </p><p>Section 1 of the Sherman Act declared illegal "every contract, in the form of trust or otherwise, or conspiracy, in restraint of trade or commerce among the several States, or with foreign nations." Section 2 prohibits <a href="/wiki/Monopolies" class="mw-redirect" title="Monopolies">monopolies</a>, or attempts and conspiracies to monopolize. Following the enactment in 1890 US court applies these principles to business and markets. Courts applied the Act without consistent economic analysis until 1914, when it was complemented by the <a href="/wiki/Clayton_Act" class="mw-redirect" title="Clayton Act">Clayton Act</a> which specifically prohibited exclusive dealing agreements, particularly tying agreements and interlocking directorates, and mergers achieved by purchasing stock. From 1915 onwards the <i><a href="/wiki/Rule_of_reason" title="Rule of reason">rule of reason</a></i> analysis was frequently applied by courts to competition cases. However, the period was characterized by the lack of competition law enforcement. From 1936 to 1972 courts' application of antitrust law was dominated by the <i><a href="/wiki/Industrial_organization#Structure,_conduct,_performance" title="Industrial organization">structure-conduct-performance</a></i> paradigm of the Harvard School. From 1973 to 1991, the enforcement of antitrust law was based on efficiency explanations as the Chicago School became dominant, and through legal writings such as Judge <a href="/wiki/Robert_Bork" title="Robert Bork">Robert Bork</a>'s book <i><a href="/wiki/The_Antitrust_Paradox" title="The Antitrust Paradox">The Antitrust Paradox</a></i>. Since 1992 <a href="/wiki/Game_theory" title="Game theory">game theory</a> has frequently been used in antitrust cases.<sup id="cite_ref-34" class="reference"><a href="#cite_note-34"><span class="cite-bracket">[</span>34<span class="cite-bracket">]</span></a></sup> </p><p><a href="/wiki/Hart%E2%80%93Scott%E2%80%93Rodino_Antitrust_Improvements_Act" title="Hart–Scott–Rodino Antitrust Improvements Act">With the Hart–Scott–Rodino Antitrust Improvements Act of 1976</a>, mergers and acquisitions came into additional scrutiny from U.S. regulators. Under the act, parties must make a pre-merger notification to the U.S. Department of Justice and Federal Trade Commission prior to the completion of a transaction. As of February 2, 2021, the FTC reduced the Hart-Scott-Rodino reporting threshold to $92 million in combined assets for the transaction.<sup id="cite_ref-35" class="reference"><a href="#cite_note-35"><span class="cite-bracket">[</span>35<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="European_Union_law">European Union law</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Competition_law&action=edit&section=8" title="Edit section: European Union law"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/European_Union_competition_law" title="European Union competition law">European Union competition law</a></div> <p>Competition law gained new recognition in Europe in the inter-war years, with Germany enacting its first anti-cartel law in 1923 and Sweden and Norway adopting similar laws in 1925 and 1926 respectively. However, with the <a href="/wiki/Great_Depression" title="Great Depression">Great Depression</a> of 1929 competition law disappeared from Europe and was revived following the <a href="/wiki/Second_World_War" class="mw-redirect" title="Second World War">Second World War</a> when the United Kingdom and Germany, following pressure from the United States, became the first European countries to adopt fully fledged competition laws. At a regional level <a href="/wiki/EU_competition_law" class="mw-redirect" title="EU competition law">EU competition law</a> has its origins in the <a href="/wiki/European_Coal_and_Steel_Community" title="European Coal and Steel Community">European Coal and Steel Community</a> (ECSC) agreement between France, <a href="/wiki/Italy" title="Italy">Italy</a>, <a href="/wiki/Belgium" title="Belgium">Belgium</a>, the <a href="/wiki/Netherlands" title="Netherlands">Netherlands</a>, <a href="/wiki/Luxembourg" title="Luxembourg">Luxembourg</a> and Germany in 1951 following the Second World War. The agreement aimed to prevent Germany from re-establishing dominance in the production of <a href="/wiki/Coal" title="Coal">coal</a> and <a href="/wiki/Steel" title="Steel">steel</a> as it was felt that this dominance had contributed to the outbreak of the war. Article 65 of the agreement banned cartels and article 66 made provisions for concentrations, or mergers, and the abuse of a dominant position by companies.<sup id="cite_ref-36" class="reference"><a href="#cite_note-36"><span class="cite-bracket">[</span>36<span class="cite-bracket">]</span></a></sup> This was the first time that competition law principles were included in a <a href="/wiki/Plurilateral" class="mw-redirect" title="Plurilateral">plurilateral</a> regional agreement and established the trans-European model of competition law. In 1957 competition rules were included in the <a href="/wiki/Treaty_of_Rome" title="Treaty of Rome">Treaty of Rome</a>, also known as the EC Treaty, which established the <a href="/wiki/European_Economic_Community" title="European Economic Community">European Economic Community</a> (EEC). The Treaty of Rome established the enactment of competition law as one of the main aims of the EEC through the "institution of a system ensuring that competition in the common market is not distorted". The two central provisions on EU competition law on companies were established in article 85, which prohibited anti-competitive agreements, subject to some exemptions, and article 86 prohibiting the abuse of dominant position. The treaty also established principles on competition law for member states, with article 90 covering public undertakings, and article 92 making provisions on state aid. Regulations on mergers were not included as member states could not establish consensus on the issue at the time.<sup id="cite_ref-37" class="reference"><a href="#cite_note-37"><span class="cite-bracket">[</span>37<span class="cite-bracket">]</span></a></sup> </p><p>Today, the <a href="/wiki/Treaty_of_Lisbon" title="Treaty of Lisbon">Treaty of Lisbon</a> prohibits anti-competitive agreements in Article 101(1), including <a href="/wiki/Price_fixing" title="Price fixing">price fixing</a>. According to Article 101(2) any such agreements are automatically void. Article 101(3) establishes exemptions, if the collusion is for distributional or technological innovation, gives consumers a "fair share" of the benefit and does not include unreasonable restraints that risk eliminating competition anywhere (or compliant with the <a href="/wiki/General_principle_of_European_Union_law" class="mw-redirect" title="General principle of European Union law">general principle of European Union law</a> of <a href="/wiki/Proportionality_(law)" title="Proportionality (law)">proportionality</a>). Article 102 prohibits the abuse of <a href="/wiki/Dominance_(economics)" class="mw-redirect" title="Dominance (economics)">dominant position</a>,<sup id="cite_ref-38" class="reference"><a href="#cite_note-38"><span class="cite-bracket">[</span>38<span class="cite-bracket">]</span></a></sup> such as price discrimination and exclusive dealing. <a href="/wiki/European_Union_merger_law" title="European Union merger law">Regulation 139/2004/EC</a> governs mergers between firms.<sup id="cite_ref-39" class="reference"><a href="#cite_note-39"><span class="cite-bracket">[</span>39<span class="cite-bracket">]</span></a></sup> The general test is whether a concentration (i.e. merger or acquisition) with a community dimension (i.e. affects a number of EU member states) might significantly impede <a href="/wiki/Effective_competition" title="Effective competition">effective competition</a>. Articles 106 and 107 provide that member state's right to deliver public services may not be obstructed, but that otherwise public enterprises must adhere to the same competition principles as companies. Article 107 lays down a general rule that the state may not aid or subsidize private parties in distortion of free competition and provides exemptions for <a href="/wiki/Charities" class="mw-redirect" title="Charities">charities</a>, regional development objectives and in the event of a <a href="/wiki/Natural_disaster" title="Natural disaster">natural disaster</a>.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (September 2011)">citation needed</span></a></i>]</sup> </p><p>Leading <a href="/wiki/European_Court_of_Justice" title="European Court of Justice">ECJ</a> cases on competition law include <i><a href="/wiki/Consten_SaRL_and_Grundig_GmbH_v_Commission" title="Consten SaRL and Grundig GmbH v Commission">Consten & Grundig v Commission</a></i> and <i><a href="/wiki/United_Brands_Company_v_Commission_of_the_European_Communities" title="United Brands Company v Commission of the European Communities">United Brands v Commission</a></i>. </p> <div class="mw-heading mw-heading3"><h3 id="India">India</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Competition_law&action=edit&section=9" title="Edit section: India"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Main articles: <a href="/wiki/The_Competition_Act,_2002" title="The Competition Act, 2002">The Competition Act, 2002</a> and <a href="/wiki/Competition_Commission_of_India" title="Competition Commission of India">Competition Commission of India</a></div> <p>India responded positively by opening up its economy by removing controls during the <a href="/wiki/Economic_liberalisation_in_India" title="Economic liberalisation in India">Economic liberalisation</a>. In quest of increasing the efficiency of the nation's economy, the <a href="/wiki/Government_of_India" title="Government of India">Government of India</a> acknowledged the <a href="/wiki/Liberalization" title="Liberalization">Liberalization</a> <a href="/wiki/Privatization" title="Privatization">Privatization</a> <a href="/wiki/Globalization" title="Globalization">Globalization</a> era. As a result, Indian market faces competition from within and outside the country.<sup id="cite_ref-Competition_40-0" class="reference"><a href="#cite_note-Competition-40"><span class="cite-bracket">[</span>40<span class="cite-bracket">]</span></a></sup> This led to the need of a strong legislation to dispense justice in commercial matters and <a href="/wiki/The_Competition_Act,_2002" title="The Competition Act, 2002">the Competition Act, 2002</a> was passed. The history of competition law in India dates back to the 1960s when the first competition law, namely the Monopolies and Restrictive Trade Practices Act (MRTP) was enacted in 1969. But after the economic reforms in 1991, this legislation was found to be obsolete in many aspects and as a result, a new competition law in the form of <a href="/wiki/The_Competition_Act,_2002" title="The Competition Act, 2002">the Competition Act, 2002</a> was enacted in 2003. The <a href="/wiki/Competition_Commission_of_India" title="Competition Commission of India">Competition Commission of India</a>, is the quasi judicial body established for enforcing provisions of the Competition Act.<sup id="cite_ref-CCI_formation_41-0" class="reference"><a href="#cite_note-CCI_formation-41"><span class="cite-bracket">[</span>41<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="China">China</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Competition_law&action=edit&section=10" title="Edit section: China"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/Anti_Monopoly_Law_of_China" class="mw-redirect" title="Anti Monopoly Law of China">Anti Monopoly Law of China</a></div> <p>The <a href="/wiki/Anti_Monopoly_Law_of_China" class="mw-redirect" title="Anti Monopoly Law of China">Anti Monopoly Law of China</a> came into effect in 2008. For years, it was enforced by three different branches of government, but since 2018 its enforcement has been the responsibility of the <a href="/wiki/State_Administration_for_Market_Regulation" title="State Administration for Market Regulation">State Administration for Market Regulation</a>. The <i><a href="/wiki/People%27s_Daily" title="People's Daily">People's Daily</a></i> reported that the law had generated 11 billion RMB of penalties between 2008 and 2018.<sup id="cite_ref-42" class="reference"><a href="#cite_note-42"><span class="cite-bracket">[</span>42<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="International_expansion">International expansion</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Competition_law&action=edit&section=11" title="Edit section: International expansion"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>By 2008, 111 countries had enacted competition laws, which is more than 50 percent of countries with a population exceeding 80,000 people. 81 of the 111 countries had adopted their competition laws in the past 20 years, signaling the spread of competition law following the collapse of the <a href="/wiki/Soviet_Union" title="Soviet Union">Soviet Union</a> and the expansion of the <a href="/wiki/European_Union" title="European Union">European Union</a>.<sup id="cite_ref-43" class="reference"><a href="#cite_note-43"><span class="cite-bracket">[</span>43<span class="cite-bracket">]</span></a></sup> Currently <a href="/wiki/Competition_Authority_(disambiguation)" class="mw-redirect mw-disambig" title="Competition Authority (disambiguation)">competition authorities</a> of many states closely co-operate, on everyday basis, with foreign counterparts in their enforcement efforts, also in such key area as information / evidence sharing.<sup id="cite_ref-44" class="reference"><a href="#cite_note-44"><span class="cite-bracket">[</span>44<span class="cite-bracket">]</span></a></sup> </p><p>In many of Asia's developing countries, including India, Competition law is considered a tool to stimulate economic growth. In <a href="/wiki/South_Korea" title="South Korea">Korea</a> and <a href="/wiki/Japan" title="Japan">Japan</a>, the competition law prevents certain forms of <a href="/wiki/Conglomerate_(company)" title="Conglomerate (company)">conglomerates</a>. In addition, competition law has promoted fairness in China and Indonesia as well as international integration in Vietnam.<sup id="cite_ref-papers.ssrn.com_1-2" class="reference"><a href="#cite_note-papers.ssrn.com-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup> <a href="/wiki/Hong_Kong" title="Hong Kong">Hong Kong</a>'s Competition Ordinance came into force in the year 2015.<sup id="cite_ref-45" class="reference"><a href="#cite_note-45"><span class="cite-bracket">[</span>45<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="ASEAN_member_states">ASEAN member states</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Competition_law&action=edit&section=12" title="Edit section: ASEAN member states"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>As part of the creation of the ASEAN Economic Community, the member states of the <a href="/wiki/Association_of_Southeast_Asian_Nations" class="mw-redirect" title="Association of Southeast Asian Nations">Association of South-East Asian Nations</a> (ASEAN) pledged to enact competition laws and policies by the end of 2015.<sup id="cite_ref-46" class="reference"><a href="#cite_note-46"><span class="cite-bracket">[</span>46<span class="cite-bracket">]</span></a></sup> Today, all ten member states have general competition legislation in place. While there remains differences between regimes (for example, over merger control notification rules, or leniency policies for whistle-blowers),<sup id="cite_ref-47" class="reference"><a href="#cite_note-47"><span class="cite-bracket">[</span>47<span class="cite-bracket">]</span></a></sup> and it is unlikely that there will be a supranational competition authority for ASEAN (akin to the European Union),<sup id="cite_ref-48" class="reference"><a href="#cite_note-48"><span class="cite-bracket">[</span>48<span class="cite-bracket">]</span></a></sup> there is a clear trend towards increase in infringement investigations or decisions on cartel enforcement.<sup id="cite_ref-49" class="reference"><a href="#cite_note-49"><span class="cite-bracket">[</span>49<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Enforcement">Enforcement</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Competition_law&action=edit&section=13" title="Edit section: Enforcement"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">See also: <a href="/wiki/World_Trade_Organization" title="World Trade Organization">World Trade Organization</a> and <a href="/wiki/International_Competition_Network" title="International Competition Network">International Competition Network</a></div> <figure class="mw-default-size mw-halign-right" typeof="mw:File/Thumb"><a href="/wiki/File:WTO_members_and_observers.svg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/9/9a/WTO_members_and_observers.svg/220px-WTO_members_and_observers.svg.png" decoding="async" width="220" height="112" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/9/9a/WTO_members_and_observers.svg/330px-WTO_members_and_observers.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/9/9a/WTO_members_and_observers.svg/440px-WTO_members_and_observers.svg.png 2x" data-file-width="2754" data-file-height="1398" /></a><figcaption>There is considerable controversy among <a href="/wiki/World_Trade_Organization" title="World Trade Organization">WTO</a> members, in green and blue, whether competition law should form part of the agreements.</figcaption></figure> <p>Competition law is enforced at the national level through competition authorities, as well as private enforcement. The <a href="/wiki/United_States_Supreme_Court" class="mw-redirect" title="United States Supreme Court">United States Supreme Court</a> explained:<sup id="cite_ref-50" class="reference"><a href="#cite_note-50"><span class="cite-bracket">[</span>50<span class="cite-bracket">]</span></a></sup> </p> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1244412712"><blockquote class="templatequote"><p>Every violation of the antitrust laws is a blow to the free-enterprise system envisaged by Congress. This system depends on strong competition for its health and vigor, and strong competition depends, in turn, on compliance with antitrust legislation. In enacting these laws, Congress had many means at its disposal to penalize violators. It could have, for example, required violators to compensate federal, state, and local governments for the estimated damage to their respective economies caused by the violations. But, this remedy was not selected. Instead, Congress chose to permit all persons to sue to recover three times their actual damages every time they were injured in their business or property by an antitrust violation.</p></blockquote> <p>In the <a href="/wiki/European_Union" title="European Union">European Union</a>, the so-called "Modernisation Regulation",<sup id="cite_ref-51" class="reference"><a href="#cite_note-51"><span class="cite-bracket">[</span>51<span class="cite-bracket">]</span></a></sup> Regulation 1/2003,<sup id="cite_ref-52" class="reference"><a href="#cite_note-52"><span class="cite-bracket">[</span>52<span class="cite-bracket">]</span></a></sup> established that the <a href="/wiki/European_Commission" title="European Commission">European Commission</a> was no longer the only body capable of public enforcement of <a href="/wiki/European_Union_competition_law" title="European Union competition law">European Union competition law</a>. This was done to facilitate quicker resolution of competition-related inquiries. In 2005 the Commission issued a <a href="/wiki/Green_Paper" class="mw-redirect" title="Green Paper">Green Paper</a> on <i>Damages actions for the breach of the EC antitrust rules</i>,<sup id="cite_ref-53" class="reference"><a href="#cite_note-53"><span class="cite-bracket">[</span>53<span class="cite-bracket">]</span></a></sup> which suggested ways of making private damages claims against cartels easier.<sup id="cite_ref-54" class="reference"><a href="#cite_note-54"><span class="cite-bracket">[</span>54<span class="cite-bracket">]</span></a></sup> </p><p>Some EU Member States enforce their competition laws with criminal sanctions. As analysed by <a href="/wiki/Peter_Whelan_(lawyer)" title="Peter Whelan (lawyer)">Whelan</a>, these types of sanctions engender a number of significant theoretical, legal and practical challenges.<sup id="cite_ref-55" class="reference"><a href="#cite_note-55"><span class="cite-bracket">[</span>55<span class="cite-bracket">]</span></a></sup> </p><p>Antitrust administration and legislation can be seen as a balance between: </p> <ul><li>guidelines which are clear and specific to the courts, regulators and business but leave little room for discretion that prevents the application of laws from resulting in unintended consequences.</li> <li>guidelines which are broad, hence allowing administrators to sway between improving economic outcomes versus succumbing to political policies to redistribute wealth.<sup id="cite_ref-56" class="reference"><a href="#cite_note-56"><span class="cite-bracket">[</span>56<span class="cite-bracket">]</span></a></sup></li></ul> <p>Chapter 5 of the post-war <a href="/wiki/Havana_Charter" class="mw-redirect" title="Havana Charter">Havana Charter</a> contained an Antitrust code<sup id="cite_ref-57" class="reference"><a href="#cite_note-57"><span class="cite-bracket">[</span>57<span class="cite-bracket">]</span></a></sup> but this was never incorporated into the WTO's forerunner, the <a href="/wiki/General_Agreement_on_Tariffs_and_Trade" title="General Agreement on Tariffs and Trade">General Agreement on Tariffs and Trade</a> 1947. <a href="/wiki/Office_of_Fair_Trading" title="Office of Fair Trading">Office of Fair Trading</a> Director and Richard Whish wrote sceptically that it "seems unlikely at the current stage of its development that the WTO will metamorphose into a global competition authority".<sup id="cite_ref-58" class="reference"><a href="#cite_note-58"><span class="cite-bracket">[</span>58<span class="cite-bracket">]</span></a></sup> Despite that, at the ongoing <a href="/wiki/Doha_round" class="mw-redirect" title="Doha round">Doha round</a> of trade talks for the <a href="/wiki/World_Trade_Organization" title="World Trade Organization">World Trade Organization</a>, discussion includes the prospect of competition law enforcement moving up to a global level. While it is incapable of enforcement itself, the newly established <a href="/wiki/International_Competition_Network" title="International Competition Network">International Competition Network</a><sup id="cite_ref-59" class="reference"><a href="#cite_note-59"><span class="cite-bracket">[</span>59<span class="cite-bracket">]</span></a></sup> (ICN) is a way for national authorities to coordinate their own enforcement activities. </p> <div class="mw-heading mw-heading2"><h2 id="Theory">Theory</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Competition_law&action=edit&section=14" title="Edit section: Theory"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/Competition_law_theory" title="Competition law theory">Competition law theory</a></div> <div class="mw-heading mw-heading3"><h3 id="Classical_perspective">Classical perspective</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Competition_law&action=edit&section=15" title="Edit section: Classical perspective"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">See also: <a href="/wiki/Classical_economics" title="Classical economics">Classical economics</a></div> <p>Under the doctrine of <a href="/wiki/Laissez-faire" title="Laissez-faire">laissez-faire</a>, antitrust is seen as unnecessary as competition is viewed as a long-term dynamic process where firms compete against each other for market <a href="/wiki/Dominance_(economics)" class="mw-redirect" title="Dominance (economics)">dominance</a>. In some markets, a firm may successfully dominate, but it is because of superior skill or innovativeness. However, according to laissez-faire theorists, when it tries to raise prices to take advantage of its monopoly position it creates profitable opportunities for others to compete. A process of <a href="/wiki/Creative_destruction" title="Creative destruction">creative destruction</a> begins which erodes the monopoly. Therefore, government should not try to break up monopoly but should allow the market to work.<sup id="cite_ref-60" class="reference"><a href="#cite_note-60"><span class="cite-bracket">[</span>60<span class="cite-bracket">]</span></a></sup> </p> <figure class="mw-default-size mw-halign-right" typeof="mw:File/Thumb"><a href="/wiki/File:John-stuart-mill-sized.jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/en/thumb/9/9b/John-stuart-mill-sized.jpg/220px-John-stuart-mill-sized.jpg" decoding="async" width="220" height="254" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/9/9b/John-stuart-mill-sized.jpg 1.5x" data-file-width="270" data-file-height="312" /></a><figcaption><a href="/wiki/John_Stuart_Mill" title="John Stuart Mill">John Stuart Mill</a> believed the <a href="/wiki/Restraint_of_trade" title="Restraint of trade">restraint of trade</a> doctrine was justified to preserve <a href="/wiki/Liberty" title="Liberty">liberty</a> and <a href="/wiki/Competition" title="Competition">competition</a>.</figcaption></figure> <p>The classical perspective on competition was that certain agreements and business practice could be an unreasonable restraint on the <a href="/wiki/Individual_liberty" class="mw-redirect" title="Individual liberty">individual liberty</a> of tradespeople to carry on their livelihoods. Restraints were judged as permissible or not by courts as new cases appeared and in the light of changing business circumstances. Hence the courts found specific categories of agreement, specific clauses, to fall foul of their doctrine on economic fairness, and they did not contrive an overarching conception of market power. Earlier theorists like Adam Smith rejected any monopoly power on this basis. </p> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1244412712"><blockquote class="templatequote"><p>A monopoly granted either to an individual or to a trading company has the same effect as a secret in trade or manufactures. The monopolists, by keeping the market constantly under-stocked, by never fully supplying the effectual demand, sell their commodities much above the natural price, and raise their emoluments, whether they consist in wages or profit, greatly above their natural rate.<sup id="cite_ref-61" class="reference"><a href="#cite_note-61"><span class="cite-bracket">[</span>61<span class="cite-bracket">]</span></a></sup></p></blockquote> <p>In <i><a href="/wiki/The_Wealth_of_Nations" title="The Wealth of Nations">The Wealth of Nations</a></i> (1776) <a href="/wiki/Adam_Smith" title="Adam Smith">Adam Smith</a> also pointed out the cartel problem, but did not advocate specific legal measures to combat them. </p> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1244412712"><blockquote class="templatequote"><p>People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices. It is impossible indeed to prevent such meetings, by any law which either could be executed, or would be consistent with liberty and justice. But though the law cannot hinder people of the same trade from sometimes assembling together, it ought to do nothing to facilitate such assemblies; much less to render them necessary.<sup id="cite_ref-Book_I,_Chapter_10_62-0" class="reference"><a href="#cite_note-Book_I,_Chapter_10-62"><span class="cite-bracket">[</span>62<span class="cite-bracket">]</span></a></sup></p></blockquote> <p>By the latter half of the 19th century, it had become clear that large firms had become a fact of the market economy. <a href="/wiki/John_Stuart_Mill" title="John Stuart Mill">John Stuart Mill</a>'s approach was laid down in his treatise <i><a href="/wiki/On_Liberty" title="On Liberty">On Liberty</a></i> (1859). </p> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1244412712"><blockquote class="templatequote"><p>Again, trade is a social act. Whoever undertakes to sell any description of goods to the public, does what affects the interest of other persons, and of society in general; and thus his conduct, in principle, comes within the jurisdiction of society... both the cheapness and the good quality of commodities are most effectually provided for by leaving the producers and sellers perfectly free, under the sole check of equal freedom to the buyers for supplying themselves elsewhere. This is the so-called doctrine of Free Trade, which rests on grounds different from, though equally solid with, the principle of individual liberty asserted in this Essay. Restrictions on trade, or on production for purposes of trade, are indeed restraints; and all restraint, qua restraint, is an evil...<sup id="cite_ref-63" class="reference"><a href="#cite_note-63"><span class="cite-bracket">[</span>63<span class="cite-bracket">]</span></a></sup></p></blockquote> <div class="mw-heading mw-heading3"><h3 id="Neo-classical_synthesis">Neo-classical synthesis</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Competition_law&action=edit&section=16" title="Edit section: Neo-classical synthesis"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">See also: <a href="/wiki/Neoclassical_synthesis" title="Neoclassical synthesis">Neoclassical synthesis</a></div> <figure class="mw-default-size mw-halign-right" typeof="mw:File/Thumb"><a href="/wiki/File:Paul_Samuelson.gif" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/4/4c/Paul_Samuelson.gif/220px-Paul_Samuelson.gif" decoding="async" width="220" height="285" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/4/4c/Paul_Samuelson.gif 1.5x" data-file-width="281" data-file-height="364" /></a><figcaption><a href="/wiki/Paul_Samuelson" title="Paul Samuelson">Paul Samuelson</a>, author of the 20th century's most successful economics text, combined mathematical models and <a href="/wiki/Keynesian" class="mw-redirect" title="Keynesian">Keynesian</a> macroeconomic intervention. He advocated the general success of the market but backed the American government's antitrust policies.</figcaption></figure> <p>After Mill, there was a shift in economic theory, which emphasized a more precise and theoretical model of competition. A simple neo-classical model of free markets holds that production and distribution of goods and services in competitive free markets maximizes <a href="/wiki/Social_welfare" class="mw-redirect" title="Social welfare">social welfare</a>. This model assumes that new firms can freely enter markets and compete with existing firms, or to use legal language, there are no <a href="/wiki/Barriers_to_entry" title="Barriers to entry">barriers to entry</a>. By this term economists mean something very specific, that competitive free markets deliver <a href="/wiki/Allocative_efficiency" title="Allocative efficiency">allocative</a>, <a href="/wiki/Productive_efficiency" title="Productive efficiency">productive</a> and dynamic efficiency. Allocative efficiency is also known as <a href="/wiki/Pareto_efficiency" title="Pareto efficiency">Pareto efficiency</a> after the Italian economist <a href="/wiki/Vilfredo_Pareto" title="Vilfredo Pareto">Vilfredo Pareto</a> and means that resources in an economy over the <a href="/wiki/Long_run" class="mw-redirect" title="Long run">long run</a> will go precisely to those who are <a href="/wiki/Consumerism" title="Consumerism">willing</a> and <a href="/wiki/Poverty" title="Poverty">able</a> to pay for them. Because rational producers will keep producing and selling, and buyers will keep buying up to the last <a href="/wiki/Marginalism" title="Marginalism">marginal unit</a> of possible output – or alternatively rational producers will be reduce their output to the margin at which buyers will buy the same amount as produced – there is no waste, the greatest number wants of the greatest number of people become satisfied and <a href="/wiki/Utilitarianism" title="Utilitarianism">utility</a> is perfected because resources can no longer be reallocated to make anyone better off without making someone else worse off; society has achieved allocative efficiency. Productive efficiency simply means that society is making as much as it can. Free markets are meant to reward those who <a href="/wiki/Protestant_work_ethic" title="Protestant work ethic">work hard</a>, and therefore those who will put society's resources towards the <a href="/wiki/Production_possibility_frontier" class="mw-redirect" title="Production possibility frontier">frontier of its possible production</a>.<sup id="cite_ref-64" class="reference"><a href="#cite_note-64"><span class="cite-bracket">[</span>64<span class="cite-bracket">]</span></a></sup> Dynamic efficiency refers to the idea that business which constantly competes must research, create and innovate to keep its share of consumers. This traces to Austrian-American political scientist <a href="/wiki/Joseph_Schumpeter" title="Joseph Schumpeter">Joseph Schumpeter</a>'s notion that a "perennial gale of creative destruction" is ever sweeping through <a href="/wiki/Capitalism" title="Capitalism">capitalist</a> economies, driving enterprise at the market's mercy.<sup id="cite_ref-65" class="reference"><a href="#cite_note-65"><span class="cite-bracket">[</span>65<span class="cite-bracket">]</span></a></sup> This led Schumpeter to argue that monopolies did not need to be broken up (as with <a href="/wiki/Standard_Oil" title="Standard Oil">Standard Oil</a>) because the next gale of economic innovation would do the same. </p><p>Contrasting with the allocatively, productively and dynamically efficient market model are monopolies, oligopolies, and cartels. When only one or a few firms exist in the market, and there is no credible threat of the entry of competing firms, prices rise above the competitive level, to either a monopolistic or oligopolistic equilibrium price. Production is also decreased, further decreasing <a href="/wiki/Social_welfare" class="mw-redirect" title="Social welfare">social welfare</a> by creating a <a href="/wiki/Deadweight_loss" title="Deadweight loss">deadweight loss</a>. Sources of this market power are said<sup class="noprint Inline-Template" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Manual_of_Style/Words_to_watch#Unsupported_attributions" title="Wikipedia:Manual of Style/Words to watch"><span title="The material near this tag may use weasel words or too-vague attribution. (October 2009)">by whom?</span></a></i>]</sup> to include the existence of <a href="/wiki/Externalities" class="mw-redirect" title="Externalities">externalities</a>, <a href="/wiki/Barriers_to_entry" title="Barriers to entry">barriers to entry</a> of the market, and the <a href="/wiki/Free_rider_problem" class="mw-redirect" title="Free rider problem">free rider problem</a>. Markets may <a href="/wiki/Market_failure" title="Market failure">fail</a> to be efficient for a variety of reasons, so the exception of competition law's intervention to the rule of <i><a href="/wiki/Laissez_faire" class="mw-redirect" title="Laissez faire">laissez faire</a></i> is justified if <a href="/wiki/Government_failure" title="Government failure">government failure</a> can be avoided. Orthodox economists fully acknowledge that <a href="/wiki/Perfect_competition" title="Perfect competition">perfect competition</a> is seldom observed in the real world, and so aim for what is called "<a href="/wiki/Workable_competition" class="mw-redirect" title="Workable competition">workable competition</a>".<sup id="cite_ref-66" class="reference"><a href="#cite_note-66"><span class="cite-bracket">[</span>66<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-67" class="reference"><a href="#cite_note-67"><span class="cite-bracket">[</span>67<span class="cite-bracket">]</span></a></sup> This follows the theory that if one cannot achieve the ideal, then go for the second best option<sup id="cite_ref-68" class="reference"><a href="#cite_note-68"><span class="cite-bracket">[</span>68<span class="cite-bracket">]</span></a></sup> by using the law to tame market operation where it can. </p> <div class="mw-heading mw-heading3"><h3 id="Chicago_school">Chicago school</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Competition_law&action=edit&section=17" title="Edit section: Chicago school"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <figure class="mw-default-size mw-halign-right" typeof="mw:File/Thumb"><a href="/wiki/File:Robert_Bork.jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/d/d8/Robert_Bork.jpg/220px-Robert_Bork.jpg" decoding="async" width="220" height="282" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/d/d8/Robert_Bork.jpg 1.5x" data-file-width="250" data-file-height="320" /></a><figcaption><a href="/wiki/Robert_Bork" title="Robert Bork">Robert Bork</a></figcaption></figure> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">See also: <a href="/wiki/Chicago_school_of_economics" title="Chicago school of economics">Chicago school of economics</a> and <a href="/wiki/Neoclassical_economics" title="Neoclassical economics">Neoclassical economics</a></div> <p>A group of economists and lawyers, who are largely associated with the <a href="/wiki/University_of_Chicago" title="University of Chicago">University of Chicago</a>, advocate an approach to competition law guided by the proposition that some actions that were originally considered to be anticompetitive could actually promote competition.<sup id="cite_ref-69" class="reference"><a href="#cite_note-69"><span class="cite-bracket">[</span>69<span class="cite-bracket">]</span></a></sup> The <a href="/wiki/Supreme_Court_of_the_United_States" title="Supreme Court of the United States">U.S. Supreme Court</a> has used the Chicago school approach in several recent cases.<sup id="cite_ref-70" class="reference"><a href="#cite_note-70"><span class="cite-bracket">[</span>70<span class="cite-bracket">]</span></a></sup> One view of the Chicago school approach to antitrust is found in United States Circuit Court of Appeals Judge <a href="/wiki/Richard_Posner" title="Richard Posner">Richard Posner</a>'s books <i>Antitrust Law</i><sup id="cite_ref-71" class="reference"><a href="#cite_note-71"><span class="cite-bracket">[</span>71<span class="cite-bracket">]</span></a></sup> and <i>Economic Analysis of Law</i>.<sup id="cite_ref-72" class="reference"><a href="#cite_note-72"><span class="cite-bracket">[</span>72<span class="cite-bracket">]</span></a></sup> </p><p><a href="/wiki/Robert_Bork" title="Robert Bork">Robert Bork</a> was highly critical of court decisions on United States antitrust law in a series of law review articles and his book <i><a href="/wiki/The_Antitrust_Paradox" title="The Antitrust Paradox">The Antitrust Paradox</a></i>.<sup id="cite_ref-73" class="reference"><a href="#cite_note-73"><span class="cite-bracket">[</span>73<span class="cite-bracket">]</span></a></sup> Bork argued that both the original intention of antitrust laws and economic efficiency was the pursuit <i>only</i> of consumer welfare, the protection of competition rather than competitors.<sup id="cite_ref-Bork1978p405_74-0" class="reference"><a href="#cite_note-Bork1978p405-74"><span class="cite-bracket">[</span>74<span class="cite-bracket">]</span></a></sup> Furthermore, only a few acts should be prohibited, namely cartels that fix prices and divide markets, mergers that create monopolies, and dominant firms pricing predatorily, while allowing such practices as vertical agreements and price discrimination on the grounds that it did not harm consumers.<sup id="cite_ref-75" class="reference"><a href="#cite_note-75"><span class="cite-bracket">[</span>75<span class="cite-bracket">]</span></a></sup> Running through the different critiques of US antitrust policy is the common theme that government interference in the operation of free markets does more harm than good.<sup id="cite_ref-76" class="reference"><a href="#cite_note-76"><span class="cite-bracket">[</span>76<span class="cite-bracket">]</span></a></sup> "The only cure for bad theory," writes Bork, "is better theory."<sup id="cite_ref-Bork1978p405_74-1" class="reference"><a href="#cite_note-Bork1978p405-74"><span class="cite-bracket">[</span>74<span class="cite-bracket">]</span></a></sup> <a href="/wiki/Harvard_Law_School" title="Harvard Law School">Harvard Law School</a> professor <a href="/wiki/Philip_Areeda" class="mw-redirect" title="Philip Areeda">Philip Areeda</a>, who favours more aggressive antitrust policy, in at least one Supreme Court case challenged Robert Bork's preference for non-intervention.<sup id="cite_ref-77" class="reference"><a href="#cite_note-77"><span class="cite-bracket">[</span>77<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Practice">Practice</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Competition_law&action=edit&section=18" title="Edit section: Practice"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <div class="mw-heading mw-heading3"><h3 id="Collusion_and_cartels">Collusion and cartels</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Competition_law&action=edit&section=19" title="Edit section: Collusion and cartels"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Main articles: <a href="/wiki/Collusion" title="Collusion">Collusion</a> and <a href="/wiki/Cartel" title="Cartel">Cartel</a></div> <figure class="mw-default-size mw-halign-right" typeof="mw:File/Thumb"><a href="/wiki/File:AdamSmith.jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/0/0a/AdamSmith.jpg/220px-AdamSmith.jpg" decoding="async" width="220" height="328" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/0/0a/AdamSmith.jpg/330px-AdamSmith.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/0/0a/AdamSmith.jpg/440px-AdamSmith.jpg 2x" data-file-width="1456" data-file-height="2173" /></a><figcaption><a href="/wiki/Scottish_Enlightenment" title="Scottish Enlightenment">Scottish Enlightenment</a> philosopher <a href="/wiki/Adam_Smith" title="Adam Smith">Adam Smith</a> was an early enemy of cartels.</figcaption></figure> <div class="mw-heading mw-heading3"><h3 id="Dominance_and_monopoly">Dominance and monopoly</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Competition_law&action=edit&section=20" title="Edit section: Dominance and monopoly"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Main articles: <a href="/wiki/Dominance_(economics)" class="mw-redirect" title="Dominance (economics)">Dominance (economics)</a> and <a href="/wiki/Monopoly" title="Monopoly">Monopoly</a></div> <figure class="mw-default-size mw-halign-right" typeof="mw:File/Thumb"><a href="/wiki/File:Monopoly-surpluses.svg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/e/ef/Monopoly-surpluses.svg/220px-Monopoly-surpluses.svg.png" decoding="async" width="220" height="220" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/e/ef/Monopoly-surpluses.svg/330px-Monopoly-surpluses.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/e/ef/Monopoly-surpluses.svg/440px-Monopoly-surpluses.svg.png 2x" data-file-width="217" data-file-height="217" /></a><figcaption>The economist's depiction of <a href="/wiki/Deadweight_loss" title="Deadweight loss">deadweight loss</a> to efficiency that monopolies cause</figcaption></figure> <p>When firms hold large market shares, consumers risk paying higher prices and getting lower quality products than compared to competitive markets. However, the existence of a very high market share does not always mean consumers are paying excessive prices since the threat of new entrants to the market can restrain a high-market-share firm's price increases. Competition law does not make merely having a monopoly illegal, but rather abusing the power that a monopoly may confer, for instance through exclusionary practices. Market dominance is connected with decreased innovation and increased political connectedness.<sup id="cite_ref-78" class="reference"><a href="#cite_note-78"><span class="cite-bracket">[</span>78<span class="cite-bracket">]</span></a></sup> </p><p>First, it is necessary to determine whether a firm is dominant, or whether it behaves "to an appreciable extent independently of its competitors, customers and ultimately of its consumer".<sup id="cite_ref-79" class="reference"><a href="#cite_note-79"><span class="cite-bracket">[</span>79<span class="cite-bracket">]</span></a></sup> Under EU law, very large market shares raise a presumption that a firm is dominant,<sup id="cite_ref-80" class="reference"><a href="#cite_note-80"><span class="cite-bracket">[</span>80<span class="cite-bracket">]</span></a></sup> which may be rebuttable.<sup id="cite_ref-81" class="reference"><a href="#cite_note-81"><span class="cite-bracket">[</span>81<span class="cite-bracket">]</span></a></sup> If a firm has a dominant position, then there is "a special responsibility not to allow its conduct to impair competition on the common market".<sup id="cite_ref-82" class="reference"><a href="#cite_note-82"><span class="cite-bracket">[</span>82<span class="cite-bracket">]</span></a></sup> Similarly as with collusive conduct, market shares are determined with reference to the particular market in which the firm and product in question is sold. Then although the lists are seldom closed,<sup id="cite_ref-83" class="reference"><a href="#cite_note-83"><span class="cite-bracket">[</span>83<span class="cite-bracket">]</span></a></sup> certain categories of abusive conduct are usually prohibited under the country's legislation. For instance, limiting production at a shipping port by refusing to raise expenditure and update technology could be abusive.<sup id="cite_ref-84" class="reference"><a href="#cite_note-84"><span class="cite-bracket">[</span>84<span class="cite-bracket">]</span></a></sup> Tying one product into the sale of another can be considered abuse too, being restrictive of <a href="/wiki/Consumer_choice" title="Consumer choice">consumer choice</a> and depriving competitors of outlets. This was the alleged case in <i><a href="/wiki/Microsoft_Corp._v._Commission" title="Microsoft Corp. v. Commission">Microsoft v. Commission</a></i><sup id="cite_ref-85" class="reference"><a href="#cite_note-85"><span class="cite-bracket">[</span>85<span class="cite-bracket">]</span></a></sup> leading to an eventual fine of million for including its <a href="/wiki/Windows_Media_Player" title="Windows Media Player">Windows Media Player</a> with the <a href="/wiki/Microsoft_Windows" title="Microsoft Windows">Microsoft Windows</a> platform. A refusal to supply a facility which is essential for all businesses attempting to compete to use can constitute an abuse. One example was in a case involving a medical company named <i><a href="/wiki/Commercial_Solvents" class="mw-redirect" title="Commercial Solvents">Commercial Solvents</a></i>.<sup id="cite_ref-86" class="reference"><a href="#cite_note-86"><span class="cite-bracket">[</span>86<span class="cite-bracket">]</span></a></sup> When it set up its own rival in the <a href="/wiki/Tuberculosis" title="Tuberculosis">tuberculosis</a> drugs market, Commercial Solvents were forced to continue supplying a company named Zoja with the raw materials for the drug. Zoja was the only market competitor, so without the court forcing supply, all competition would have been eliminated. </p><p>Forms of abuse relating directly to pricing include price exploitation. It is difficult to prove at what point a dominant firm's prices become "exploitative" and this category of abuse is rarely found. In one case however, a French funeral service was found to have demanded exploitative prices, and this was justified on the basis that prices of funeral services outside the region could be compared.<sup id="cite_ref-87" class="reference"><a href="#cite_note-87"><span class="cite-bracket">[</span>87<span class="cite-bracket">]</span></a></sup> A more tricky issue is <a href="/wiki/Predatory_pricing" title="Predatory pricing">predatory pricing</a>. This is the practice of dropping prices of a product so much that one's smaller competitors cannot cover their costs and fall out of business. The Chicago school considers predatory pricing to be unlikely.<sup id="cite_ref-88" class="reference"><a href="#cite_note-88"><span class="cite-bracket">[</span>88<span class="cite-bracket">]</span></a></sup> However, in <i>France Telecom SA v. Commission</i><sup id="cite_ref-89" class="reference"><a href="#cite_note-89"><span class="cite-bracket">[</span>89<span class="cite-bracket">]</span></a></sup> a broadband internet company was forced to pay $13.9 million for dropping its prices below its own production costs. It had "no interest in applying such prices except that of eliminating competitors"<sup id="cite_ref-90" class="reference"><a href="#cite_note-90"><span class="cite-bracket">[</span>90<span class="cite-bracket">]</span></a></sup> and was being cross-subsidized to capture the lion's share of a booming market. One last category of pricing abuse is <a href="/wiki/Price_discrimination" title="Price discrimination">price discrimination</a>.<sup id="cite_ref-91" class="reference"><a href="#cite_note-91"><span class="cite-bracket">[</span>91<span class="cite-bracket">]</span></a></sup> An example of this could be a company offering rebates to industrial customers who export their sugar, but not to customers who are selling their goods in the same market.<sup id="cite_ref-92" class="reference"><a href="#cite_note-92"><span class="cite-bracket">[</span>92<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading4"><h4 id="Example">Example</h4><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Competition_law&action=edit&section=21" title="Edit section: Example"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>According to The World Bank's "Republic of Armenia Accumulation, Competition, and Connectivity Global Competition" report which was published in 2013, the Global Competitiveness Index suggests that Armenia ranks lowest among ECA (Europe and Central Asia) countries in the effectiveness of anti-monopoly policy and the intensity of competition. This low ranking somehow explains the low employment and low incomes in Armenia.<sup id="cite_ref-93" class="reference"><a href="#cite_note-93"><span class="cite-bracket">[</span>93<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Mergers_and_acquisitions">Mergers and acquisitions</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Competition_law&action=edit&section=22" title="Edit section: Mergers and acquisitions"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/Mergers_and_acquisitions" title="Mergers and acquisitions">Mergers and acquisitions</a></div> <p>A merger or acquisition involves, from a competition law perspective, the concentration of economic power in the hands of fewer than before.<sup id="cite_ref-94" class="reference"><a href="#cite_note-94"><span class="cite-bracket">[</span>94<span class="cite-bracket">]</span></a></sup> This usually means that one firm buys out the <a href="/wiki/Share_(finance)" title="Share (finance)">shares</a> of another. The reasons for oversight of economic concentrations by the state are the same as the reasons to restrict firms who abuse a position of dominance, only that regulation of mergers and acquisitions attempts to deal with the problem before it arises, <i>ex ante</i> prevention of market dominance.<sup id="cite_ref-95" class="reference"><a href="#cite_note-95"><span class="cite-bracket">[</span>95<span class="cite-bracket">]</span></a></sup> In the United States merger regulation began under the Clayton Act, and in the European Union, under the Merger Regulation 139/2004 (known as the "ECMR").<sup id="cite_ref-96" class="reference"><a href="#cite_note-96"><span class="cite-bracket">[</span>96<span class="cite-bracket">]</span></a></sup> Competition law requires that firms proposing to merge gain authorization from the relevant government authority. The theory behind mergers is that transaction costs can be reduced compared to operating on an open market through bilateral contracts.<sup id="cite_ref-97" class="reference"><a href="#cite_note-97"><span class="cite-bracket">[</span>97<span class="cite-bracket">]</span></a></sup> Concentrations can increase <a href="/wiki/Economies_of_scale" title="Economies of scale">economies of scale</a> and scope. However often firms take advantage of their increase in market power, their increased market share and decreased number of competitors, which can adversely affect the deal that consumers get. Merger control is about predicting what the market might be like, not knowing and making a judgment. Hence the central provision under EU law asks whether a concentration <i>would</i>, if it went ahead, "significantly impede effective competition... in particular as a result of the creation or strengthening off a dominant position..."<sup id="cite_ref-98" class="reference"><a href="#cite_note-98"><span class="cite-bracket">[</span>98<span class="cite-bracket">]</span></a></sup> and the corresponding provision under US antitrust states similarly, </p> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1244412712"><blockquote class="templatequote"><p>No person shall acquire, directly or indirectly, the whole or any part of the stock or other share capital... of the assets of one or more persons engaged in commerce or in any activity affecting commerce, where... the effect of such acquisition, of such stocks or assets, or of the use of such stock by the voting or granting of proxies or otherwise, may be substantially to lessen competition, or to tend to create a monopoly.<sup id="cite_ref-99" class="reference"><a href="#cite_note-99"><span class="cite-bracket">[</span>99<span class="cite-bracket">]</span></a></sup></p></blockquote> <p>What amounts to a substantial lessening of, or significant impediment to competition is usually answered through empirical study. The market shares of the merging companies can be assessed and added, although this kind of analysis only gives rise to presumptions, not conclusions.<sup id="cite_ref-100" class="reference"><a href="#cite_note-100"><span class="cite-bracket">[</span>100<span class="cite-bracket">]</span></a></sup> The <a href="/wiki/Herfindahl_index" class="mw-redirect" title="Herfindahl index">Herfindahl-Hirschman Index</a> is used to calculate the "density" of the market, or what concentration exists. Aside from the maths, it is important to consider the product in question and the rate of technical innovation in the market.<sup id="cite_ref-101" class="reference"><a href="#cite_note-101"><span class="cite-bracket">[</span>101<span class="cite-bracket">]</span></a></sup> A further problem of collective dominance, or <a href="/wiki/Oligopoly" title="Oligopoly">oligopoly</a> through "economic links"<sup id="cite_ref-102" class="reference"><a href="#cite_note-102"><span class="cite-bracket">[</span>102<span class="cite-bracket">]</span></a></sup> can arise, whereby the new market becomes more conducive to <a href="/wiki/Collusion" title="Collusion">collusion</a>. It is relevant how transparent a market is, because a more concentrated structure could mean firms can coordinate their behavior more easily, whether firms can deploy deterrents and whether firms are safe from a reaction by their competitors and consumers.<sup id="cite_ref-103" class="reference"><a href="#cite_note-103"><span class="cite-bracket">[</span>103<span class="cite-bracket">]</span></a></sup> The entry of new firms to the market, and any barriers that they might encounter should be considered.<sup id="cite_ref-104" class="reference"><a href="#cite_note-104"><span class="cite-bracket">[</span>104<span class="cite-bracket">]</span></a></sup> If firms are shown to be creating an uncompetitive concentration, in the US they can still argue that they create efficiencies enough to outweigh any detriment, and similar reference to "technical and economic progress" is mentioned in Art. 2 of the ECMR.<sup id="cite_ref-105" class="reference"><a href="#cite_note-105"><span class="cite-bracket">[</span>105<span class="cite-bracket">]</span></a></sup> Another defense might be that a firm which is being taken over is about to fail or go insolvent, and taking it over leaves a no less competitive state than what would happen anyway.<sup id="cite_ref-106" class="reference"><a href="#cite_note-106"><span class="cite-bracket">[</span>106<span class="cite-bracket">]</span></a></sup> Mergers vertically in the market are rarely of concern, although in <i>AOL/Time Warner</i><sup id="cite_ref-107" class="reference"><a href="#cite_note-107"><span class="cite-bracket">[</span>107<span class="cite-bracket">]</span></a></sup> the <a href="/wiki/European_Commission" title="European Commission">European Commission</a> required that a joint venture with a competitor <a href="/wiki/Bertelsmann" title="Bertelsmann">Bertelsmann</a> be ceased beforehand. The EU authorities have also focused lately on the effect of <a href="/wiki/Conglomerate_merger" title="Conglomerate merger">conglomerate mergers</a>, where companies acquire a large portfolio of related products, though without necessarily dominant shares in any individual market.<sup id="cite_ref-108" class="reference"><a href="#cite_note-108"><span class="cite-bracket">[</span>108<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Intellectual_property,_innovation_and_competition"><span id="Intellectual_property.2C_innovation_and_competition"></span>Intellectual property, innovation and competition</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Competition_law&action=edit&section=23" title="Edit section: Intellectual property, innovation and competition"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Competition law has become increasingly intertwined with <a href="/wiki/Intellectual_property" title="Intellectual property">intellectual property</a>, such as <a href="/wiki/Copyright" title="Copyright">copyright</a>, <a href="/wiki/Trademark" title="Trademark">trademarks</a>, <a href="/wiki/Patent" title="Patent">patents</a>, <a href="/wiki/Industrial_design_right" title="Industrial design right">industrial design rights</a> and in some jurisdictions <a href="/wiki/Trade_secret" title="Trade secret">trade secrets</a>.<sup id="cite_ref-109" class="reference"><a href="#cite_note-109"><span class="cite-bracket">[</span>109<span class="cite-bracket">]</span></a></sup> It is believed that promotion of <a href="/wiki/Innovation" title="Innovation">innovation</a> through enforcement of intellectual property rights may promote as well as limit competitiveness. The question rests on whether it is legal to acquire monopoly through accumulation of intellectual property rights. In which case, the judgment needs to decide between giving preference to intellectual property rights or to competitiveness: </p> <ul><li>Should antitrust laws accord special treatment to intellectual property.</li> <li>Should intellectual rights be revoked or not granted when antitrust laws are violated.</li></ul> <p>Concerns also arise over anti-competitive effects and consequences due to: </p> <ul><li>Intellectual properties that are collaboratively designed with consequence of violating antitrust laws (intentionally or otherwise).</li> <li>The further effects on competition when such properties are accepted into industry standards.</li> <li>Cross-licensing of intellectual property.</li> <li>Bundling of intellectual property rights to long-term business transactions or agreements to extend the market exclusiveness of intellectual property rights beyond their statutory duration.</li> <li><a href="/wiki/Trade_secrets" class="mw-redirect" title="Trade secrets">Trade secrets</a>, if they remain a secret, having an eternal length of life.</li></ul> <p>Some scholars suggest that a prize instead of patent would solve the problem of deadweight loss, when innovators got their reward from the prize, provided by the government or non-profit organization, rather than directly selling to the market, see <a href="/wiki/Millennium_Prize_Problems" title="Millennium Prize Problems">Millennium Prize Problems</a>. However, innovators may accept the prize only when it is at least as much as how much they earn from patent, which is a question difficult to determine.<sup id="cite_ref-110" class="reference"><a href="#cite_note-110"><span class="cite-bracket">[</span>110<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="See_also">See also</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Competition_law&action=edit&section=24" title="Edit section: See also"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1184024115">.mw-parser-output .div-col{margin-top:0.3em;column-width:30em}.mw-parser-output .div-col-small{font-size:90%}.mw-parser-output .div-col-rules{column-rule:1px solid #aaa}.mw-parser-output .div-col dl,.mw-parser-output .div-col ol,.mw-parser-output .div-col ul{margin-top:0}.mw-parser-output .div-col li,.mw-parser-output .div-col dd{page-break-inside:avoid;break-inside:avoid-column}</style><div class="div-col" style="column-width: 22em;"> <ul><li><a href="/wiki/Consumer_protection" title="Consumer protection">Consumer protection</a></li> <li><a href="/wiki/European_Union_competition_law" title="European Union competition law">European Union competition law</a></li> <li><i><a href="/wiki/The_History_of_the_Standard_Oil_Company" title="The History of the Standard Oil Company">The History of the Standard Oil Company</a></i> (book)</li> <li><a href="/wiki/Institute_for_Consumer_Antitrust_Studies" title="Institute for Consumer Antitrust Studies">Institute for Consumer Antitrust Studies</a></li> <li><a href="/wiki/Irish_Competition_law" class="mw-redirect" title="Irish Competition law">Irish Competition law</a></li> <li><a href="/wiki/Competition_regulator" title="Competition regulator">List of competition regulators</a></li> <li><a href="/wiki/List_of_countries%27_copyright_length" class="mw-redirect" title="List of countries' copyright length">List of countries' copyright length</a></li> <li><a href="/wiki/Relevant_market" title="Relevant market">Relevant market</a></li> <li><a href="/wiki/Resale_price_maintenance" title="Resale price maintenance">Resale price maintenance</a></li> <li><a href="/wiki/Sherman_Antitrust_Act" title="Sherman Antitrust Act">Sherman Antitrust Act</a></li> <li><a href="/wiki/SSNIP" class="mw-redirect" title="SSNIP">SSNIP</a></li> <li><a href="/wiki/United_States_antitrust_law" title="United States antitrust law">United States antitrust law</a></li> <li><a href="/wiki/Megacorporation" title="Megacorporation">Megacorporation</a></li></ul> </div> <div class="mw-heading mw-heading2"><h2 id="Notes">Notes</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Competition_law&action=edit&section=25" title="Edit section: Notes"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1239543626">.mw-parser-output .reflist{margin-bottom:0.5em;list-style-type:decimal}@media screen{.mw-parser-output .reflist{font-size:90%}}.mw-parser-output .reflist .references{font-size:100%;margin-bottom:0;list-style-type:inherit}.mw-parser-output .reflist-columns-2{column-width:30em}.mw-parser-output .reflist-columns-3{column-width:25em}.mw-parser-output .reflist-columns{margin-top:0.3em}.mw-parser-output .reflist-columns ol{margin-top:0}.mw-parser-output .reflist-columns li{page-break-inside:avoid;break-inside:avoid-column}.mw-parser-output .reflist-upper-alpha{list-style-type:upper-alpha}.mw-parser-output .reflist-upper-roman{list-style-type:upper-roman}.mw-parser-output .reflist-lower-alpha{list-style-type:lower-alpha}.mw-parser-output .reflist-lower-greek{list-style-type:lower-greek}.mw-parser-output .reflist-lower-roman{list-style-type:lower-roman}</style><div class="reflist"> <div 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a{background:url("//upload.wikimedia.org/wikipedia/commons/d/d6/Lock-gray-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-subscription.id-lock-subscription a{background:url("//upload.wikimedia.org/wikipedia/commons/a/aa/Lock-red-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .cs1-ws-icon a{background:url("//upload.wikimedia.org/wikipedia/commons/4/4c/Wikisource-logo.svg")right 0.1em center/12px no-repeat}body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-free a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-limited a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-registration a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-subscription a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .cs1-ws-icon a{background-size:contain;padding:0 1em 0 0}.mw-parser-output .cs1-code{color:inherit;background:inherit;border:none;padding:inherit}.mw-parser-output .cs1-hidden-error{display:none;color:var(--color-error,#d33)}.mw-parser-output .cs1-visible-error{color:var(--color-error,#d33)}.mw-parser-output .cs1-maint{display:none;color:#085;margin-left:0.3em}.mw-parser-output .cs1-kern-left{padding-left:0.2em}.mw-parser-output .cs1-kern-right{padding-right:0.2em}.mw-parser-output .citation .mw-selflink{font-weight:inherit}@media screen{.mw-parser-output .cs1-format{font-size:95%}html.skin-theme-clientpref-night .mw-parser-output .cs1-maint{color:#18911f}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .cs1-maint{color:#18911f}}</style><cite id="CITEREFLiLi2013" class="citation ssrn cs1">Li, Rita Yi Man; Li, Yi Lut (1 June 2013). 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(2006). <a rel="nofollow" class="external text" href="https://books.google.com/books?id=wTsfwxMvz_MC"><i>International competition law: a new dimension for the WTO?</i></a>. Cambridge University Press. p. 1. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-521-86389-6" title="Special:BookSources/978-0-521-86389-6"><bdi>978-0-521-86389-6</bdi></a>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20221214135313/https://books.google.com/books?id=wTsfwxMvz_MC">Archived</a> from the original on 14 December 2022<span class="reference-accessdate">. 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Retrieved <span class="nowrap">23 June</span> 2014</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=www.carteldamageclaims.com%2F&rft.atitle=Cartel+Damage+Claims+%28CDC%29&rft.au=Cartel+Damage+Claims+%28CDC%29&rft_id=http%3A%2F%2Fwww.carteldamageclaims.com%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACompetition+law" class="Z3988"></span></span> </li> <li id="cite_note-4"><span class="mw-cite-backlink"><b><a href="#cite_ref-4">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="http://ec.europa.eu/competition/antitrust/overview_en.html">"Antitrust: Overview – Competition – European Commission"</a>. <i>ec.europa.eu</i>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200205043718/https://ec.europa.eu/competition/antitrust/overview_en.html">Archived</a> from the original on 5 February 2020<span class="reference-accessdate">. Retrieved <span class="nowrap">27 June</span> 2017</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=ec.europa.eu&rft.atitle=Antitrust%3A+Overview+%E2%80%93+Competition+%E2%80%93+European+Commission&rft_id=http%3A%2F%2Fec.europa.eu%2Fcompetition%2Fantitrust%2Foverview_en.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACompetition+law" class="Z3988"></span></span> </li> <li id="cite_note-5"><span class="mw-cite-backlink"><b><a href="#cite_ref-5">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://ohiohistorycentral.org/w/Trust_Busting">"Trust Busting - Ohio History Central"</a>. <i>ohiohistorycentral.org</i>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20230221231250/https://ohiohistorycentral.org/w/Trust_Busting">Archived</a> from the original on 21 February 2023<span class="reference-accessdate">. Retrieved <span class="nowrap">21 February</span> 2023</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=ohiohistorycentral.org&rft.atitle=Trust+Busting+-+Ohio+History+Central&rft_id=https%3A%2F%2Fohiohistorycentral.org%2Fw%2FTrust_Busting&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACompetition+law" class="Z3988"></span></span> </li> <li id="cite_note-6"><span class="mw-cite-backlink"><b><a href="#cite_ref-6">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFToppingTweedale" class="citation journal cs1">Topping, Simon; Tweedale, Patrick. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20170623090038/https://www.transactionadvisors.com/insights/uae-competition-law-new-regulations-and-potential-effect-ma-transactions">"UAE Competition Law: New Regulations and Potential Effect on M&A Transactions"</a>. <i>Transaction Advisors</i>. <a href="/wiki/ISSN_(identifier)" class="mw-redirect" title="ISSN (identifier)">ISSN</a> <a rel="nofollow" class="external text" href="https://search.worldcat.org/issn/2329-9134">2329-9134</a>. Archived from <a rel="nofollow" class="external text" href="https://www.transactionadvisors.com/insights/uae-competition-law-new-regulations-and-potential-effect-ma-transactions">the original</a> on 23 June 2017<span class="reference-accessdate">. Retrieved <span class="nowrap">25 September</span> 2015</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Transaction+Advisors&rft.atitle=UAE+Competition+Law%3A+New+Regulations+and+Potential+Effect+on+M%26A+Transactions&rft.issn=2329-9134&rft.aulast=Topping&rft.aufirst=Simon&rft.au=Tweedale%2C+Patrick&rft_id=https%3A%2F%2Fwww.transactionadvisors.com%2Finsights%2Fuae-competition-law-new-regulations-and-potential-effect-ma-transactions&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACompetition+law" class="Z3988"></span></span> </li> <li id="cite_note-7"><span class="mw-cite-backlink"><b><a href="#cite_ref-7">^</a></b></span> <span class="reference-text">JG Castel, 'The Extraterritorial Effects of Antitrust Laws' (1983) 179 Recueil des Cours 9</span> </li> <li id="cite_note-8"><span class="mw-cite-backlink"><b><a href="#cite_ref-8">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFTaylor2006" class="citation book cs1">Taylor, Martyn D. (2006). <a rel="nofollow" class="external text" href="https://books.google.com/books?id=wTsfwxMvz_MC"><i>International competition law: a new dimension for the WTO?</i></a>. Cambridge University Press. p. 2. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-521-86389-6" title="Special:BookSources/978-0-521-86389-6"><bdi>978-0-521-86389-6</bdi></a>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20221214135313/https://books.google.com/books?id=wTsfwxMvz_MC">Archived</a> from the original on 14 December 2022<span class="reference-accessdate">. Retrieved <span class="nowrap">22 March</span> 2023</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=International+competition+law%3A+a+new+dimension+for+the+WTO%3F&rft.pages=2&rft.pub=Cambridge+University+Press&rft.date=2006&rft.isbn=978-0-521-86389-6&rft.aulast=Taylor&rft.aufirst=Martyn+D.&rft_id=https%3A%2F%2Fbooks.google.com%2Fbooks%3Fid%3DwTsfwxMvz_MC&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACompetition+law" class="Z3988"></span></span> </li> <li id="cite_note-9"><span class="mw-cite-backlink"><b><a href="#cite_ref-9">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFVitaliGlattfelderBattiston2011" class="citation journal cs1">Vitali, Stefania; Glattfelder, James B.; Battiston, Stefano (2011). <a rel="nofollow" class="external text" href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3202517">"The Network of Global Corporate Control"</a>. <i>PLOS ONE</i>. <b>6</b> (10): e25995. <a href="/wiki/ArXiv_(identifier)" class="mw-redirect" title="ArXiv (identifier)">arXiv</a>:<span class="id-lock-free" title="Freely accessible"><a rel="nofollow" class="external text" href="https://arxiv.org/abs/1107.5728">1107.5728</a></span>. <a href="/wiki/Bibcode_(identifier)" class="mw-redirect" title="Bibcode (identifier)">Bibcode</a>:<a rel="nofollow" class="external text" href="https://ui.adsabs.harvard.edu/abs/2011PLoSO...625995V">2011PLoSO...625995V</a>. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<span class="id-lock-free" title="Freely accessible"><a rel="nofollow" class="external text" href="https://doi.org/10.1371%2Fjournal.pone.0025995">10.1371/journal.pone.0025995</a></span>. <a href="/wiki/PMC_(identifier)" class="mw-redirect" title="PMC (identifier)">PMC</a> <span class="id-lock-free" title="Freely accessible"><a rel="nofollow" class="external text" href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3202517">3202517</a></span>. <a href="/wiki/PMID_(identifier)" class="mw-redirect" title="PMID (identifier)">PMID</a> <a rel="nofollow" class="external text" href="https://pubmed.ncbi.nlm.nih.gov/22046252">22046252</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=PLOS+ONE&rft.atitle=The+Network+of+Global+Corporate+Control&rft.volume=6&rft.issue=10&rft.pages=e25995&rft.date=2011&rft_id=https%3A%2F%2Fwww.ncbi.nlm.nih.gov%2Fpmc%2Farticles%2FPMC3202517%23id-name%3DPMC&rft_id=info%3Abibcode%2F2011PLoSO...625995V&rft_id=info%3Aarxiv%2F1107.5728&rft_id=info%3Apmid%2F22046252&rft_id=info%3Adoi%2F10.1371%2Fjournal.pone.0025995&rft.aulast=Vitali&rft.aufirst=Stefania&rft.au=Glattfelder%2C+James+B.&rft.au=Battiston%2C+Stefano&rft_id=https%3A%2F%2Fwww.ncbi.nlm.nih.gov%2Fpmc%2Farticles%2FPMC3202517&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACompetition+law" class="Z3988"></span></span> </li> <li id="cite_note-10"><span class="mw-cite-backlink"><b><a href="#cite_ref-10">^</a></b></span> <span class="reference-text">see, <a rel="nofollow" class="external text" href="https://www.oecd.org/daf/competition/sectors/">Organisation for Economic Co-operation and Development's Regulation and Sectors</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20211006030648/https://www.oecd.org/daf/competition/sectors/">Archived</a> 6 October 2021 at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a> page.</span> </li> <li id="cite_note-11"><span class="mw-cite-backlink"><b><a href="#cite_ref-11">^</a></b></span> <span class="reference-text">Bork (1993), p. 56</span> </li> <li id="cite_note-12"><span class="mw-cite-backlink"><b><a href="#cite_ref-12">^</a></b></span> <span class="reference-text">This is Julius Caesar's time according to Babled in <i>De La Cure Annone chez le Romains</i>.</span> </li> <li id="cite_note-Wilberforce_1966_p._20-13"><span class="mw-cite-backlink">^ <a href="#cite_ref-Wilberforce_1966_p._20_13-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-Wilberforce_1966_p._20_13-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text">Wilberforce (1966) p. 20</span> </li> <li id="cite_note-14"><span class="mw-cite-backlink"><b><a href="#cite_ref-14">^</a></b></span> <span class="reference-text">Wilberforce (1966) p. 22</span> </li> <li id="cite_note-Wilberforce_1966_p._21-15"><span class="mw-cite-backlink">^ <a href="#cite_ref-Wilberforce_1966_p._21_15-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-Wilberforce_1966_p._21_15-1"><sup><i><b>b</b></i></sup></a> <a href="#cite_ref-Wilberforce_1966_p._21_15-2"><sup><i><b>c</b></i></sup></a></span> <span class="reference-text">Wilberforce (1966) p. 21</span> </li> <li id="cite_note-16"><span class="mw-cite-backlink"><b><a href="#cite_ref-16">^</a></b></span> <span class="reference-text"><a href="/wiki/Sir_Frederick_Pollock,_3rd_Baronet" title="Sir Frederick Pollock, 3rd Baronet">Pollock</a> and <a href="/wiki/Frederic_William_Maitland" title="Frederic William Maitland">Maitland</a>, <i>History of English Law</i> Vol. II, 453</span> </li> <li id="cite_note-17"><span class="mw-cite-backlink"><b><a href="#cite_ref-17">^</a></b></span> <span class="reference-text">51 & 52 Hen. 3, Stat. 1</span> </li> <li id="cite_note-18"><span class="mw-cite-backlink"><b><a href="#cite_ref-18">^</a></b></span> <span class="reference-text">51 & 52 Hen. 3, Stat. 6</span> </li> <li id="cite_note-19"><span class="mw-cite-backlink"><b><a href="#cite_ref-19">^</a></b></span> <span class="reference-text">Wilberforce (1966) p. 23</span> </li> <li id="cite_note-20"><span class="mw-cite-backlink"><b><a href="#cite_ref-20">^</a></b></span> <span class="reference-text">23 Edw. 3.</span> </li> <li id="cite_note-21"><span class="mw-cite-backlink"><b><a href="#cite_ref-21">^</a></b></span> <span class="reference-text">27 Edw. 3, Stat. 2, c. 25</span> </li> <li id="cite_note-22"><span class="mw-cite-backlink"><b><a href="#cite_ref-22">^</a></b></span> <span class="reference-text">25 Hen. 8, c. 2.</span> </li> <li id="cite_note-23"><span class="mw-cite-backlink"><b><a href="#cite_ref-23">^</a></b></span> <span class="reference-text">"... the modern common law of England [has] passed directly into the legislation and thereafter into the judge-made law of the United States." Wilberforce (1966) p. 7</span> </li> <li id="cite_note-24"><span class="mw-cite-backlink"><b><a href="#cite_ref-24">^</a></b></span> <span class="reference-text">(1414) 2 Hen. 5, 5 Pl. 26</span> </li> <li id="cite_note-Papadopoulos_2010_7-25"><span class="mw-cite-backlink">^ <a href="#cite_ref-Papadopoulos_2010_7_25-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-Papadopoulos_2010_7_25-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFPapadopoulos2010" class="citation book cs1">Papadopoulos, Anestis S (2010). <a rel="nofollow" class="external text" href="https://books.google.com/books?id=BpCqNMPNxeoC&q=eu+competition+law"><i>The International Dimension of EU Competition Law and Policy</i></a>. Cambridge University Press. p. 7. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-521-19646-8" title="Special:BookSources/978-0-521-19646-8"><bdi>978-0-521-19646-8</bdi></a>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20240412052931/https://books.google.com/books?id=BpCqNMPNxeoC&q=eu+competition+law#v=snippet&q=eu%20competition%20law&f=false">Archived</a> from the original on 12 April 2024<span class="reference-accessdate">. Retrieved <span class="nowrap">22 October</span> 2020</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=The+International+Dimension+of+EU+Competition+Law+and+Policy&rft.pages=7&rft.pub=Cambridge+University+Press&rft.date=2010&rft.isbn=978-0-521-19646-8&rft.aulast=Papadopoulos&rft.aufirst=Anestis+S&rft_id=https%3A%2F%2Fbooks.google.com%2Fbooks%3Fid%3DBpCqNMPNxeoC%26q%3Deu%2Bcompetition%2Blaw&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACompetition+law" class="Z3988"></span></span> </li> <li id="cite_note-26"><span class="mw-cite-backlink"><b><a href="#cite_ref-26">^</a></b></span> <span class="reference-text">according to <a href="/wiki/William_Searle_Holdsworth" title="William Searle Holdsworth">William Searle Holdsworth</a>, 4 Holdsworth, 3rd ed., Chap. 4 p. 346</span> </li> <li id="cite_note-27"><span class="mw-cite-backlink"><b><a href="#cite_ref-27">^</a></b></span> <span class="reference-text">(1602) 11 Co. Rep. 84b</span> </li> <li id="cite_note-28"><span class="mw-cite-backlink"><b><a href="#cite_ref-28">^</a></b></span> <span class="reference-text">For example one John Manley paid p.a. from 1654 to the Crown for a tender on the "postage of letters both inland and foreign" Wilberforce (1966) p. 18</span> </li> <li id="cite_note-29"><span class="mw-cite-backlink"><b><a href="#cite_ref-29">^</a></b></span> <span class="reference-text">(1685) 10 St. Tr. 371</span> </li> <li id="cite_note-30"><span class="mw-cite-backlink"><b><a href="#cite_ref-30">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFPapadopoulos2010" class="citation book cs1">Papadopoulos, Anestis S (2010). <a rel="nofollow" class="external text" href="https://books.google.com/books?id=BpCqNMPNxeoC&q=eu+competition+law"><i>The International Dimension of EU Competition Law and Policy</i></a>. Cambridge University Press. pp. 8–9. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-521-19646-8" title="Special:BookSources/978-0-521-19646-8"><bdi>978-0-521-19646-8</bdi></a>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20240412052931/https://books.google.com/books?id=BpCqNMPNxeoC&q=eu+competition+law#v=snippet&q=eu%20competition%20law&f=false">Archived</a> from the original on 12 April 2024<span class="reference-accessdate">. Retrieved <span class="nowrap">22 October</span> 2020</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=The+International+Dimension+of+EU+Competition+Law+and+Policy&rft.pages=8-9&rft.pub=Cambridge+University+Press&rft.date=2010&rft.isbn=978-0-521-19646-8&rft.aulast=Papadopoulos&rft.aufirst=Anestis+S&rft_id=https%3A%2F%2Fbooks.google.com%2Fbooks%3Fid%3DBpCqNMPNxeoC%26q%3Deu%2Bcompetition%2Blaw&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACompetition+law" class="Z3988"></span></span> </li> <li id="cite_note-bare_url-31"><span class="mw-cite-backlink">^ <a href="#cite_ref-bare_url_31-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-bare_url_31-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFPapadopoulos2010" class="citation book cs1">Papadopoulos, Anestis S (2010). <a rel="nofollow" class="external text" href="https://books.google.com/books?id=BpCqNMPNxeoC&q=eu+competition+law"><i>The International Dimension of EU Competition Law and Policy</i></a>. Cambridge University Press. pp. 9–10. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-521-19646-8" title="Special:BookSources/978-0-521-19646-8"><bdi>978-0-521-19646-8</bdi></a>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20240412052931/https://books.google.com/books?id=BpCqNMPNxeoC&q=eu+competition+law#v=snippet&q=eu%20competition%20law&f=false">Archived</a> from the original on 12 April 2024<span class="reference-accessdate">. Retrieved <span class="nowrap">22 October</span> 2020</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=The+International+Dimension+of+EU+Competition+Law+and+Policy&rft.pages=9-10&rft.pub=Cambridge+University+Press&rft.date=2010&rft.isbn=978-0-521-19646-8&rft.aulast=Papadopoulos&rft.aufirst=Anestis+S&rft_id=https%3A%2F%2Fbooks.google.com%2Fbooks%3Fid%3DBpCqNMPNxeoC%26q%3Deu%2Bcompetition%2Blaw&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACompetition+law" class="Z3988"></span></span> </li> <li id="cite_note-32"><span class="mw-cite-backlink"><b><a href="#cite_ref-32">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFPapadopoulos2010" class="citation book cs1">Papadopoulos, Anestis S (2010). <a rel="nofollow" class="external text" href="https://books.google.com/books?id=BpCqNMPNxeoC&q=eu+competition+law"><i>The International Dimension of EU Competition Law and Policy</i></a>. Cambridge University Press. p. 11. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-521-19646-8" title="Special:BookSources/978-0-521-19646-8"><bdi>978-0-521-19646-8</bdi></a>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20240412052931/https://books.google.com/books?id=BpCqNMPNxeoC&q=eu+competition+law#v=snippet&q=eu%20competition%20law&f=false">Archived</a> from the original on 12 April 2024<span class="reference-accessdate">. Retrieved <span class="nowrap">22 October</span> 2020</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=The+International+Dimension+of+EU+Competition+Law+and+Policy&rft.pages=11&rft.pub=Cambridge+University+Press&rft.date=2010&rft.isbn=978-0-521-19646-8&rft.aulast=Papadopoulos&rft.aufirst=Anestis+S&rft_id=https%3A%2F%2Fbooks.google.com%2Fbooks%3Fid%3DBpCqNMPNxeoC%26q%3Deu%2Bcompetition%2Blaw&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACompetition+law" class="Z3988"></span></span> </li> <li id="cite_note-33"><span class="mw-cite-backlink"><b><a href="#cite_ref-33">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFPapadopoulos2010" class="citation book cs1">Papadopoulos, Anestis S (2010). <a rel="nofollow" class="external text" href="https://books.google.com/books?id=BpCqNMPNxeoC&q=eu+competition+law"><i>The International Dimension of EU Competition Law and Policy</i></a>. Cambridge University Press. p. 12. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-521-19646-8" title="Special:BookSources/978-0-521-19646-8"><bdi>978-0-521-19646-8</bdi></a>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20240412052931/https://books.google.com/books?id=BpCqNMPNxeoC&q=eu+competition+law#v=snippet&q=eu%20competition%20law&f=false">Archived</a> from the original on 12 April 2024<span class="reference-accessdate">. Retrieved <span class="nowrap">22 October</span> 2020</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=The+International+Dimension+of+EU+Competition+Law+and+Policy&rft.pages=12&rft.pub=Cambridge+University+Press&rft.date=2010&rft.isbn=978-0-521-19646-8&rft.aulast=Papadopoulos&rft.aufirst=Anestis+S&rft_id=https%3A%2F%2Fbooks.google.com%2Fbooks%3Fid%3DBpCqNMPNxeoC%26q%3Deu%2Bcompetition%2Blaw&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACompetition+law" class="Z3988"></span></span> </li> <li id="cite_note-34"><span class="mw-cite-backlink"><b><a href="#cite_ref-34">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFPapadopoulos2010" class="citation book cs1">Papadopoulos, Anestis S (2010). <a rel="nofollow" class="external text" href="https://books.google.com/books?id=BpCqNMPNxeoC&q=eu+competition+law"><i>The International Dimension of EU Competition Law and Policy</i></a>. Cambridge University Press. pp. 11–12. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-521-19646-8" title="Special:BookSources/978-0-521-19646-8"><bdi>978-0-521-19646-8</bdi></a>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20240412052931/https://books.google.com/books?id=BpCqNMPNxeoC&q=eu+competition+law#v=snippet&q=eu%20competition%20law&f=false">Archived</a> from the original on 12 April 2024<span class="reference-accessdate">. Retrieved <span class="nowrap">22 October</span> 2020</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=The+International+Dimension+of+EU+Competition+Law+and+Policy&rft.pages=11-12&rft.pub=Cambridge+University+Press&rft.date=2010&rft.isbn=978-0-521-19646-8&rft.aulast=Papadopoulos&rft.aufirst=Anestis+S&rft_id=https%3A%2F%2Fbooks.google.com%2Fbooks%3Fid%3DBpCqNMPNxeoC%26q%3Deu%2Bcompetition%2Blaw&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACompetition+law" class="Z3988"></span></span> </li> <li id="cite_note-35"><span class="mw-cite-backlink"><b><a href="#cite_ref-35">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.seyfarth.com/news-insights/ftc-announces-reduced-hart-scott-rodino-act-thresholds-for-2021.html">"FTC Announces Reduced Hart-Scott-Rodino Act Thresholds For 2021"</a>. <i>Seyfarth Shaw - FTC Announces Reduced Hart-Scott-Rodino Act Thresholds For 2021</i>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20210412031404/https://www.seyfarth.com/news-insights/ftc-announces-reduced-hart-scott-rodino-act-thresholds-for-2021.html">Archived</a> from the original on 12 April 2021<span class="reference-accessdate">. Retrieved <span class="nowrap">12 April</span> 2021</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=Seyfarth+Shaw+-+FTC+Announces+Reduced+Hart-Scott-Rodino+Act+Thresholds+For+2021&rft.atitle=FTC+Announces+Reduced+Hart-Scott-Rodino+Act+Thresholds+For+2021&rft_id=https%3A%2F%2Fwww.seyfarth.com%2Fnews-insights%2Fftc-announces-reduced-hart-scott-rodino-act-thresholds-for-2021.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACompetition+law" class="Z3988"></span></span> </li> <li id="cite_note-36"><span class="mw-cite-backlink"><b><a href="#cite_ref-36">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFPapadopoulos2010" class="citation book cs1">Papadopoulos, Anestis S (2010). <a rel="nofollow" class="external text" href="https://books.google.com/books?id=BpCqNMPNxeoC&q=eu+competition+law"><i>The International Dimension of EU Competition Law and Policy</i></a>. Cambridge University Press. pp. 12–13. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-521-19646-8" title="Special:BookSources/978-0-521-19646-8"><bdi>978-0-521-19646-8</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=The+International+Dimension+of+EU+Competition+Law+and+Policy&rft.pages=12-13&rft.pub=Cambridge+University+Press&rft.date=2010&rft.isbn=978-0-521-19646-8&rft.aulast=Papadopoulos&rft.aufirst=Anestis+S&rft_id=https%3A%2F%2Fbooks.google.com%2Fbooks%3Fid%3DBpCqNMPNxeoC%26q%3Deu%2Bcompetition%2Blaw&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACompetition+law" class="Z3988"></span></span> </li> <li id="cite_note-37"><span class="mw-cite-backlink"><b><a href="#cite_ref-37">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFPapadopoulos2010" class="citation book cs1">Papadopoulos, Anestis S (2010). <a rel="nofollow" class="external text" href="https://books.google.com/books?id=BpCqNMPNxeoC&q=eu+competition+law"><i>The International Dimension of EU Competition Law and Policy</i></a>. Cambridge University Press. p. 14. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-521-19646-8" title="Special:BookSources/978-0-521-19646-8"><bdi>978-0-521-19646-8</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=The+International+Dimension+of+EU+Competition+Law+and+Policy&rft.pages=14&rft.pub=Cambridge+University+Press&rft.date=2010&rft.isbn=978-0-521-19646-8&rft.aulast=Papadopoulos&rft.aufirst=Anestis+S&rft_id=https%3A%2F%2Fbooks.google.com%2Fbooks%3Fid%3DBpCqNMPNxeoC%26q%3Deu%2Bcompetition%2Blaw&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACompetition+law" class="Z3988"></span></span> </li> <li id="cite_note-38"><span class="mw-cite-backlink"><b><a href="#cite_ref-38">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFVandenborreGoetzDionnet" class="citation journal cs1">Vandenborre, Ingrid; Goetz, Thorsten; Dionnet, Stephane. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20170623092339/https://www.transactionadvisors.com/insights/eu-nonmerger-antitrust-enforcement-gets-stricter">"EU Nonmerger Antitrust Enforcement Gets Stricter"</a>. <i>Transaction Advisors</i>. <a href="/wiki/ISSN_(identifier)" class="mw-redirect" title="ISSN (identifier)">ISSN</a> <a rel="nofollow" class="external text" href="https://search.worldcat.org/issn/2329-9134">2329-9134</a>. Archived from <a rel="nofollow" class="external text" href="https://www.transactionadvisors.com/insights/eu-nonmerger-antitrust-enforcement-gets-stricter">the original</a> on 23 June 2017<span class="reference-accessdate">. Retrieved <span class="nowrap">29 April</span> 2015</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Transaction+Advisors&rft.atitle=EU+Nonmerger+Antitrust+Enforcement+Gets+Stricter&rft.issn=2329-9134&rft.aulast=Vandenborre&rft.aufirst=Ingrid&rft.au=Goetz%2C+Thorsten&rft.au=Dionnet%2C+Stephane&rft_id=https%3A%2F%2Fwww.transactionadvisors.com%2Finsights%2Feu-nonmerger-antitrust-enforcement-gets-stricter&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACompetition+law" class="Z3988"></span></span> </li> <li id="cite_note-39"><span class="mw-cite-backlink"><b><a href="#cite_ref-39">^</a></b></span> <span class="reference-text"><a rel="nofollow" class="external text" href="https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32004R0139">Council Regulation (EC) No 139/2004 of 20 January 2004 on the control of concentrations between undertakings (the EC Merger Regulation)</a></span> </li> <li id="cite_note-Competition-40"><span class="mw-cite-backlink"><b><a href="#cite_ref-Competition_40-0">^</a></b></span> <span class="reference-text">Warrier VS, Conflict between Competition Law and Intellectual Property Rights <a rel="nofollow" class="external text" href="http://lex-warrier.in/2010/09/competition-law-and-ipr/">Citation: 2010 (1) LW 2</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200910141719/http://lex-warrier.in/2010/09/competition-law-and-ipr/">Archived</a> 10 September 2020 at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a> The Lex-Warrier: Online Law Journal, <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><a href="/wiki/ISSN_(identifier)" class="mw-redirect" title="ISSN (identifier)">ISSN</a> <a rel="nofollow" class="external text" href="https://www.worldcat.org/search?fq=x0:jrnl&q=n2:2319-8338">2319-8338</a></span> </li> <li id="cite_note-CCI_formation-41"><span class="mw-cite-backlink"><b><a href="#cite_ref-CCI_formation_41-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="http://www.cci.gov.in/index.php?option=com_content&task=view&id=18">"CCI formation"</a>. CCI. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20210414102723/http://www.cci.gov.in/index.php?option=com_content&task=view&id=18">Archived</a> from the original on 14 April 2021<span class="reference-accessdate">. Retrieved <span class="nowrap">4 January</span> 2013</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=CCI+formation&rft.pub=CCI&rft_id=http%3A%2F%2Fwww.cci.gov.in%2Findex.php%3Foption%3Dcom_content%26task%3Dview%26id%3D18&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACompetition+law" class="Z3988"></span></span> </li> <li id="cite_note-42"><span class="mw-cite-backlink"><b><a href="#cite_ref-42">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation news cs1"><a rel="nofollow" class="external text" href="https://www.scmp.com/economy/china-economy/article/3045224/chinas-updated-anti-monopoly-law-aimed-further-protecting">"China's updated Anti-monopoly Law criticised for not doing enough"</a>. <i>South China Morning Post</i>. 9 January 2020. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20221027204034/https://www.scmp.com/economy/china-economy/article/3045224/chinas-updated-anti-monopoly-law-aimed-further-protecting">Archived</a> from the original on 27 October 2022<span class="reference-accessdate">. Retrieved <span class="nowrap">27 October</span> 2022</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=South+China+Morning+Post&rft.atitle=China%27s+updated+Anti-monopoly+Law+criticised+for+not+doing+enough&rft.date=2020-01-09&rft_id=https%3A%2F%2Fwww.scmp.com%2Feconomy%2Fchina-economy%2Farticle%2F3045224%2Fchinas-updated-anti-monopoly-law-aimed-further-protecting&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACompetition+law" class="Z3988"></span></span> </li> <li id="cite_note-43"><span class="mw-cite-backlink"><b><a href="#cite_ref-43">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFPapadopoulos2010" class="citation book cs1">Papadopoulos, Anestis S (2010). <a rel="nofollow" class="external text" href="https://books.google.com/books?id=BpCqNMPNxeoC&q=eu+competition+law"><i>The International Dimension of EU Competition Law and Policy</i></a>. Cambridge University Press. p. 15. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-521-19646-8" title="Special:BookSources/978-0-521-19646-8"><bdi>978-0-521-19646-8</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=The+International+Dimension+of+EU+Competition+Law+and+Policy&rft.pages=15&rft.pub=Cambridge+University+Press&rft.date=2010&rft.isbn=978-0-521-19646-8&rft.aulast=Papadopoulos&rft.aufirst=Anestis+S&rft_id=https%3A%2F%2Fbooks.google.com%2Fbooks%3Fid%3DBpCqNMPNxeoC%26q%3Deu%2Bcompetition%2Blaw&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACompetition+law" class="Z3988"></span></span> </li> <li id="cite_note-44"><span class="mw-cite-backlink"><b><a href="#cite_ref-44">^</a></b></span> <span class="reference-text">Marek Martyniszyn, <a rel="nofollow" class="external text" href="http://ssrn.com/abstract=2436467">Inter-Agency Evidence Sharing in Competition Law Enforcement</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20240412053623/https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2436467">Archived</a> 12 April 2024 at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a>, 19(1) International Journal of Evidence and Proof 11 (2015)</span> </li> <li id="cite_note-45"><span class="mw-cite-backlink"><b><a href="#cite_ref-45">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="http://www.compcomm.hk/en/legislation_guidance/legislation/legislation/comp_ordinance_cap619.html">"Competition Commission – The Competition Ordinance (Cap 619)"</a>. <i>www.compcomm.hk</i>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20170612151723/http://www.compcomm.hk/en/legislation_guidance/legislation/legislation/comp_ordinance_cap619.html">Archived</a> from the original on 12 June 2017<span class="reference-accessdate">. Retrieved <span class="nowrap">27 June</span> 2017</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=www.compcomm.hk&rft.atitle=Competition+Commission+%E2%80%93+The+Competition+Ordinance+%28Cap+619%29&rft_id=http%3A%2F%2Fwww.compcomm.hk%2Fen%2Flegislation_guidance%2Flegislation%2Flegislation%2Fcomp_ordinance_cap619.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACompetition+law" class="Z3988"></span></span> </li> <li id="cite_note-46"><span class="mw-cite-backlink"><b><a href="#cite_ref-46">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation news cs1"><a rel="nofollow" class="external text" href="http://asean.org/asean-economic-community/sectoral-bodies-under-the-purview-of-aem/competition-policy/overview/">"Overview"</a>. <i>ASEAN | ONE VISION ONE IDENTITY ONE COMMUNITY</i>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20180228114819/http://asean.org/asean-economic-community/sectoral-bodies-under-the-purview-of-aem/competition-policy/overview/">Archived</a> from the original on 28 February 2018<span class="reference-accessdate">. Retrieved <span class="nowrap">28 February</span> 2018</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=ASEAN+%7C+ONE+VISION+ONE+IDENTITY+ONE+COMMUNITY&rft.atitle=Overview&rft_id=http%3A%2F%2Fasean.org%2Fasean-economic-community%2Fsectoral-bodies-under-the-purview-of-aem%2Fcompetition-policy%2Foverview%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACompetition+law" class="Z3988"></span></span> </li> <li id="cite_note-47"><span class="mw-cite-backlink"><b><a href="#cite_ref-47">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="http://www.conventuslaw.com/report/competition-law-in-asean-where-are-we-now-and/">"Competition Law in ASEAN: Where Are We Now, And Where Are We Headed?"</a>. <i>Conventus Law</i>. 19 June 2016. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20180228223951/http://www.conventuslaw.com/report/competition-law-in-asean-where-are-we-now-and/">Archived</a> from the original on 28 February 2018<span class="reference-accessdate">. Retrieved <span class="nowrap">28 February</span> 2018</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=Conventus+Law&rft.atitle=Competition+Law+in+ASEAN%3A+Where+Are+We+Now%2C+And+Where+Are+We+Headed%3F&rft.date=2016-06-19&rft_id=http%3A%2F%2Fwww.conventuslaw.com%2Freport%2Fcompetition-law-in-asean-where-are-we-now-and%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACompetition+law" class="Z3988"></span></span> </li> <li id="cite_note-48"><span class="mw-cite-backlink"><b><a href="#cite_ref-48">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="http://www.eucentre.sg/?p=11358">"EU Competition Law: A Roadmap for ASEAN?"</a>. <i>EU Centre in Singapore</i>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20180228223315/http://www.eucentre.sg/?p=11358">Archived</a> from the original on 28 February 2018<span class="reference-accessdate">. Retrieved <span class="nowrap">28 February</span> 2018</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=EU+Centre+in+Singapore&rft.atitle=EU+Competition+Law%3A+A+Roadmap+for+ASEAN%3F&rft_id=http%3A%2F%2Fwww.eucentre.sg%2F%3Fp%3D11358&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACompetition+law" class="Z3988"></span></span> </li> <li id="cite_note-49"><span class="mw-cite-backlink"><b><a href="#cite_ref-49">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.expertguides.com/articles/a-new-era-for-competition-law-in-the-asean-region/arezehbk">"A new era for competition law in the ASEAN region"</a>. <i>Expert Guides</i>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20180228223354/https://www.expertguides.com/articles/a-new-era-for-competition-law-in-the-asean-region/arezehbk">Archived</a> from the original on 28 February 2018<span class="reference-accessdate">. Retrieved <span class="nowrap">28 February</span> 2018</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=Expert+Guides&rft.atitle=A+new+era+for+competition+law+in+the+ASEAN+region&rft_id=https%3A%2F%2Fwww.expertguides.com%2Farticles%2Fa-new-era-for-competition-law-in-the-asean-region%2Farezehbk&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACompetition+law" class="Z3988"></span></span> </li> <li id="cite_note-50"><span class="mw-cite-backlink"><b><a href="#cite_ref-50">^</a></b></span> <span class="reference-text"><i>Hawaii v. Standard Oil Co. of California</i>, <a href="/wiki/List_of_United_States_Supreme_Court_cases,_volume_405" title="List of United States Supreme Court cases, volume 405">405</a> <a href="/wiki/United_States_Reports" title="United States Reports">U.S.</a> <a rel="nofollow" class="external text" href="https://supreme.justia.com/cases/federal/us/405/251/">251</a> (1972), 262.</span> </li> <li id="cite_note-51"><span class="mw-cite-backlink"><b><a href="#cite_ref-51">^</a></b></span> <span class="reference-text"><a href="/wiki/Office_of_Fair_Trading" title="Office of Fair Trading">Office of Fair Trading</a>, <a rel="nofollow" class="external text" href="https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/284432/oft442.pdf">Modernisation: Understanding competition law</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20230518003606/https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/284432/oft442.pdf">Archived</a> 18 May 2023 at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a>, p. 4, published December 2004, accessed 27 November 2023</span> </li> <li id="cite_note-52"><span class="mw-cite-backlink"><b><a href="#cite_ref-52">^</a></b></span> <span class="reference-text"><a rel="nofollow" class="external text" href="https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32003R0001">Council Regulation (EC) No 1/2003 of 16 December 2002 on the implementation of the rules on competition laid down in Articles 81 and 82 of the Treaty</a></span> </li> <li id="cite_note-53"><span class="mw-cite-backlink"><b><a href="#cite_ref-53">^</a></b></span> <span class="reference-text"><a rel="nofollow" class="external text" href="https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:52005DC0672">Green Paper - Damages actions for breach of the EC antitrust rules {SEC(2005) 1732}</a></span> </li> <li id="cite_note-54"><span class="mw-cite-backlink"><b><a href="#cite_ref-54">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="http://europa.eu/rapid/pressReleasesAction.do?reference=MEMO/05/489&format=HTML&aged=0&language=EN&guiLanguage=en">"European Commission – PRESS RELEASES – Press release – European Commission Green Paper on damages actions for breach of EC Treaty antitrust rules – frequently asked questions"</a>. <i>europa.eu</i>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20120501142829/http://europa.eu/rapid/pressReleasesAction.do?reference=MEMO/05/489&format=HTML&aged=0&language=EN&guiLanguage=en">Archived</a> from the original on 1 May 2012<span class="reference-accessdate">. Retrieved <span class="nowrap">27 June</span> 2017</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=europa.eu&rft.atitle=European+Commission+%E2%80%93+PRESS+RELEASES+%E2%80%93+Press+release+%E2%80%93+European+Commission+Green+Paper+on+damages+actions+for+breach+of+EC+Treaty+antitrust+rules+%E2%80%93+frequently+asked+questions&rft_id=http%3A%2F%2Feuropa.eu%2Frapid%2FpressReleasesAction.do%3Freference%3DMEMO%2F05%2F489%26format%3DHTML%26aged%3D0%26language%3DEN%26guiLanguage%3Den&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACompetition+law" class="Z3988"></span></span> </li> <li id="cite_note-55"><span class="mw-cite-backlink"><b><a href="#cite_ref-55">^</a></b></span> <span class="reference-text">Peter Whelan, <a rel="nofollow" class="external text" href="http://ukcatalogue.oup.com/product/9780199670062.do">The Criminalization of European Cartel Enforcement: Theoretical, Legal and Practical Challenges</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20151116072212/http://ukcatalogue.oup.com/product/9780199670062.do">Archived</a> 16 November 2015 at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a>, Oxford University Press, 2014</span> </li> <li id="cite_note-56"><span class="mw-cite-backlink"><b><a href="#cite_ref-56">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFMcEwin,_R_Ian2003" class="citation journal cs1">McEwin, R Ian (2003). <a rel="nofollow" class="external text" href="http://www.austlii.edu.au/au/journals/UNSWLawJl/2003/15.html">"COMPETITION LAW IN A SMALL OPEN ECONOMY"</a>. <i>University of New South Wales Law Journal</i>. <b>15</b>: 246. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20210225153355/http://www.austlii.edu.au/au/journals/UNSWLawJl/2003/15.html">Archived</a> from the original on 25 February 2021<span class="reference-accessdate">. Retrieved <span class="nowrap">9 October</span> 2009</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=University+of+New+South+Wales+Law+Journal&rft.atitle=COMPETITION+LAW+IN+A+SMALL+OPEN+ECONOMY&rft.volume=15&rft.pages=246&rft.date=2003&rft.au=McEwin%2C+R+Ian&rft_id=http%3A%2F%2Fwww.austlii.edu.au%2Fau%2Fjournals%2FUNSWLawJl%2F2003%2F15.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACompetition+law" class="Z3988"></span></span> </li> <li id="cite_note-57"><span class="mw-cite-backlink"><b><a href="#cite_ref-57">^</a></b></span> <span class="reference-text">see a speech by Wood, <i>The Internationalisation of Antitrust Law: Options for the Future</i> 3 February 1995, at <a rel="nofollow" class="external free" href="https://www.usdoj.gov/atr/public/speeches/future.txt">http://www.usdoj.gov/atr/public/speeches/future.txt</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20050210184645/http://www.usdoj.gov/atr/public/speeches/future.txt">Archived</a> 10 February 2005 at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a></span> </li> <li id="cite_note-58"><span class="mw-cite-backlink"><b><a href="#cite_ref-58">^</a></b></span> <span class="reference-text">Whish (2003) p. 448</span> </li> <li id="cite_note-59"><span class="mw-cite-backlink"><b><a href="#cite_ref-59">^</a></b></span> <span class="reference-text">see, <a rel="nofollow" class="external free" href="http://www.internationalcompetitionnetwork.org/">http://www.internationalcompetitionnetwork.org/</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20210420080723/https://www.internationalcompetitionnetwork.org/">Archived</a> 20 April 2021 at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a></span> </li> <li id="cite_note-60"><span class="mw-cite-backlink"><b><a href="#cite_ref-60">^</a></b></span> <span class="reference-text">Campbell R. McConnell, Stanley L. Brue. Economics: Principles, Problems, and Policies. McGraw-Hill Professional, 2005. pp. 601–02</span> </li> <li id="cite_note-61"><span class="mw-cite-backlink"><b><a href="#cite_ref-61">^</a></b></span> <span class="reference-text">Smith (1776) Book I, Chapter 7, para 26</span> </li> <li id="cite_note-Book_I,_Chapter_10-62"><span class="mw-cite-backlink"><b><a href="#cite_ref-Book_I,_Chapter_10_62-0">^</a></b></span> <span class="reference-text">Smith (1776) Book I, Chapter 10, para 82</span> </li> <li id="cite_note-63"><span class="mw-cite-backlink"><b><a href="#cite_ref-63">^</a></b></span> <span class="reference-text">Mill (1859) Chapter V, para 4</span> </li> <li id="cite_note-64"><span class="mw-cite-backlink"><b><a href="#cite_ref-64">^</a></b></span> <span class="reference-text">for one of the opposite views, see <a href="/wiki/Kenneth_Galbraith" class="mw-redirect" title="Kenneth Galbraith">Kenneth Galbraith</a>, <i><a href="/wiki/The_New_Industrial_State" title="The New Industrial State">The New Industrial State</a></i> (1967)</span> </li> <li id="cite_note-65"><span class="mw-cite-backlink"><b><a href="#cite_ref-65">^</a></b></span> <span class="reference-text"><a href="/wiki/Joseph_Schumpeter" title="Joseph Schumpeter">Joseph Schumpeter</a>, <i>The Process of Creative Destruction</i> (1942)</span> </li> <li id="cite_note-66"><span class="mw-cite-backlink"><b><a href="#cite_ref-66">^</a></b></span> <span class="reference-text">Whish (2003), p. 14.</span> </li> <li id="cite_note-67"><span class="mw-cite-backlink"><b><a href="#cite_ref-67">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFClark1940" class="citation journal cs1">Clark, John M. (1940). "Towards a Concept of Workable Competition". <i><a href="/wiki/American_Economic_Review" title="American Economic Review">American Economic Review</a></i>. <b>30</b> (2): 241–56. <a href="/wiki/JSTOR_(identifier)" class="mw-redirect" title="JSTOR (identifier)">JSTOR</a> <a rel="nofollow" class="external text" href="https://www.jstor.org/stable/1807048">1807048</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=American+Economic+Review&rft.atitle=Towards+a+Concept+of+Workable+Competition&rft.volume=30&rft.issue=2&rft.pages=241-56&rft.date=1940&rft_id=https%3A%2F%2Fwww.jstor.org%2Fstable%2F1807048%23id-name%3DJSTOR&rft.aulast=Clark&rft.aufirst=John+M.&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACompetition+law" class="Z3988"></span></span> </li> <li id="cite_note-68"><span class="mw-cite-backlink"><b><a href="#cite_ref-68">^</a></b></span> <span class="reference-text">c.f. <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFLipseyLancaster1956" class="citation journal cs1">Lipsey, R. G.; Lancaster, Kelvin (1956). "The General Theory of Second Best". <i>Review of Economic Studies</i>. <b>24</b> (1): 11–32. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.2307%2F2296233">10.2307/2296233</a>. <a href="/wiki/JSTOR_(identifier)" class="mw-redirect" title="JSTOR (identifier)">JSTOR</a> <a rel="nofollow" class="external text" href="https://www.jstor.org/stable/2296233">2296233</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Review+of+Economic+Studies&rft.atitle=The+General+Theory+of+Second+Best&rft.volume=24&rft.issue=1&rft.pages=11-32&rft.date=1956&rft_id=info%3Adoi%2F10.2307%2F2296233&rft_id=https%3A%2F%2Fwww.jstor.org%2Fstable%2F2296233%23id-name%3DJSTOR&rft.aulast=Lipsey&rft.aufirst=R.+G.&rft.au=Lancaster%2C+Kelvin&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACompetition+law" class="Z3988"></span></span> </li> <li id="cite_note-69"><span class="mw-cite-backlink"><b><a href="#cite_ref-69">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFHovenkamp1985" class="citation journal cs1">Hovenkamp, Herbert (1985). <a rel="nofollow" class="external text" href="https://scholarship.law.upenn.edu/context/faculty_scholarship/article/2926/viewcontent/SSRN_id1396788.pdf">"Antitrust Policy after Chicago"</a> <span class="cs1-format">(PDF)</span>. <i>Michigan Law Review</i>. <b>84</b> (2). The Michigan Law Review Association: 213–84. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.2307%2F1289065">10.2307/1289065</a>. <a href="/wiki/JSTOR_(identifier)" class="mw-redirect" title="JSTOR (identifier)">JSTOR</a> <a rel="nofollow" class="external text" href="https://www.jstor.org/stable/1289065">1289065</a>. <a href="/wiki/S2CID_(identifier)" class="mw-redirect" title="S2CID (identifier)">S2CID</a> <a rel="nofollow" class="external text" href="https://api.semanticscholar.org/CorpusID:153691408">153691408</a>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20240412053444/https://scholarship.law.upenn.edu/context/faculty_scholarship/article/2926/viewcontent/SSRN_id1396788.pdf">Archived</a> <span class="cs1-format">(PDF)</span> from the original on 12 April 2024<span class="reference-accessdate">. Retrieved <span class="nowrap">12 December</span> 2023</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Michigan+Law+Review&rft.atitle=Antitrust+Policy+after+Chicago&rft.volume=84&rft.issue=2&rft.pages=213-84&rft.date=1985&rft_id=https%3A%2F%2Fapi.semanticscholar.org%2FCorpusID%3A153691408%23id-name%3DS2CID&rft_id=https%3A%2F%2Fwww.jstor.org%2Fstable%2F1289065%23id-name%3DJSTOR&rft_id=info%3Adoi%2F10.2307%2F1289065&rft.aulast=Hovenkamp&rft.aufirst=Herbert&rft_id=https%3A%2F%2Fscholarship.law.upenn.edu%2Fcontext%2Ffaculty_scholarship%2Farticle%2F2926%2Fviewcontent%2FSSRN_id1396788.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACompetition+law" class="Z3988"></span></span> </li> <li id="cite_note-70"><span class="mw-cite-backlink"><b><a href="#cite_ref-70">^</a></b></span> <span class="reference-text"><i><a href="/wiki/Continental_T.V.,_Inc._v._GTE_Sylvania_Inc." class="mw-redirect" title="Continental T.V., Inc. v. GTE Sylvania Inc.">Continental T.V., Inc. v. GTE Sylvania Inc.</a></i>, <a href="/wiki/List_of_United_States_Supreme_Court_cases,_volume_433" title="List of United States Supreme Court cases, volume 433">433</a> <a href="/wiki/United_States_Reports" title="United States Reports">U.S.</a> <a rel="nofollow" class="external text" href="https://supreme.justia.com/cases/federal/us/433/36/">36</a> (1977); <i><a href="/wiki/Broadcast_Music,_Inc._v._Columbia_Broadcasting_System,_Inc." class="mw-redirect" title="Broadcast Music, Inc. v. Columbia Broadcasting System, Inc.">Broadcast Music, Inc. v. Columbia Broadcasting System, Inc.</a></i>, <a href="/wiki/List_of_United_States_Supreme_Court_cases,_volume_441" title="List of United States Supreme Court cases, volume 441">441</a> <a href="/wiki/United_States_Reports" title="United States Reports">U.S.</a> <a rel="nofollow" class="external text" href="https://supreme.justia.com/cases/federal/us/441/1/">1</a> (1979); <i><a href="/w/index.php?title=National_Collegiate_Athletic_Assn._v._Board_of_Regents_of_Univ._of_Okla.&action=edit&redlink=1" class="new" title="National Collegiate Athletic Assn. v. Board of Regents of Univ. of Okla. (page does not exist)">National Collegiate Athletic Assn. v. Board of Regents of Univ. of Okla.</a></i>, <a href="/wiki/List_of_United_States_Supreme_Court_cases,_volume_468" title="List of United States Supreme Court cases, volume 468">468</a> <a href="/wiki/United_States_Reports" title="United States Reports">U.S.</a> <a rel="nofollow" class="external text" href="https://supreme.justia.com/cases/federal/us/468/85/">85</a> (1984); <i><a href="/wiki/Spectrum_Sports,_Inc._v._McQuillan" title="Spectrum Sports, Inc. v. McQuillan">Spectrum Sports, Inc. v. McQuillan</a></i>, <a href="/wiki/List_of_United_States_Supreme_Court_cases,_volume_506" title="List of United States Supreme Court cases, volume 506">506</a> <a href="/wiki/United_States_Reports" title="United States Reports">U.S.</a> <a rel="nofollow" class="external text" href="https://supreme.justia.com/cases/federal/us/506/447/">447</a> (1993); <i><a href="/wiki/State_Oil_Co._v._Khan" title="State Oil Co. v. Khan">State Oil Co. v. Khan</a></i>, <a href="/wiki/List_of_United_States_Supreme_Court_cases,_volume_522" title="List of United States Supreme Court cases, volume 522">522</a> <a href="/wiki/United_States_Reports" title="United States Reports">U.S.</a> <a rel="nofollow" class="external text" href="https://supreme.justia.com/cases/federal/us/522/3/">3</a> (1997); <i><a href="/wiki/Verizon_v._Trinko" class="mw-redirect" title="Verizon v. Trinko">Verizon v. Trinko</a></i>, <a href="/wiki/List_of_United_States_Supreme_Court_cases,_volume_540" title="List of United States Supreme Court cases, volume 540">540</a> <a href="/wiki/United_States_Reports" title="United States Reports">U.S.</a> <a rel="nofollow" class="external text" href="https://supreme.justia.com/cases/federal/us/540/398/">398</a> (2004); <i><a href="/wiki/Leegin_Creative_Leather_Products_Inc._v._PSKS_Inc." class="mw-redirect" title="Leegin Creative Leather Products Inc. v. PSKS Inc.">Leegin Creative Leather Products Inc. v. PSKS Inc.</a></i>, 551 U.S. ___ (2007).</span> </li> <li id="cite_note-71"><span class="mw-cite-backlink"><b><a href="#cite_ref-71">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFPosner2001" class="citation book cs1">Posner, R. (2001). <span class="id-lock-registration" title="Free registration required"><a rel="nofollow" class="external text" href="https://archive.org/details/antitrustlawecon00posn"><i>Antitrust Law</i></a></span> (2nd ed.). Chicago: University of Chicago Press. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-226-67576-3" title="Special:BookSources/978-0-226-67576-3"><bdi>978-0-226-67576-3</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Antitrust+Law&rft.place=Chicago&rft.edition=2nd&rft.pub=University+of+Chicago+Press&rft.date=2001&rft.isbn=978-0-226-67576-3&rft.aulast=Posner&rft.aufirst=R.&rft_id=https%3A%2F%2Farchive.org%2Fdetails%2Fantitrustlawecon00posn&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACompetition+law" class="Z3988"></span></span> </li> <li id="cite_note-72"><span class="mw-cite-backlink"><b><a href="#cite_ref-72">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFPosner2007" class="citation book cs1">Posner, R. (2007). <span class="id-lock-registration" title="Free registration required"><a rel="nofollow" class="external text" href="https://archive.org/details/economicanalysis00posn"><i>Economic Analysis of Law</i></a></span> (7th ed.). Austin, TX: Wolters Kluwer Law & Business. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-7355-6354-4" title="Special:BookSources/978-0-7355-6354-4"><bdi>978-0-7355-6354-4</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Economic+Analysis+of+Law&rft.place=Austin%2C+TX&rft.edition=7th&rft.pub=Wolters+Kluwer+Law+%26+Business&rft.date=2007&rft.isbn=978-0-7355-6354-4&rft.aulast=Posner&rft.aufirst=R.&rft_id=https%3A%2F%2Farchive.org%2Fdetails%2Feconomicanalysis00posn&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACompetition+law" class="Z3988"></span></span> </li> <li id="cite_note-73"><span class="mw-cite-backlink"><b><a href="#cite_ref-73">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFBork1978" class="citation book cs1">Bork, Robert H. (1978). <a rel="nofollow" class="external text" href="https://archive.org/details/antitrustparadox00bork"><i>The Antitrust Paradox</i></a>. New York: Free Press. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-465-00369-3" title="Special:BookSources/978-0-465-00369-3"><bdi>978-0-465-00369-3</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=The+Antitrust+Paradox&rft.place=New+York&rft.pub=Free+Press&rft.date=1978&rft.isbn=978-0-465-00369-3&rft.aulast=Bork&rft.aufirst=Robert+H.&rft_id=https%3A%2F%2Farchive.org%2Fdetails%2Fantitrustparadox00bork&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACompetition+law" class="Z3988"></span></span> </li> <li id="cite_note-Bork1978p405-74"><span class="mw-cite-backlink">^ <a href="#cite_ref-Bork1978p405_74-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-Bork1978p405_74-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text">Bork (1978), p. 405.</span> </li> <li id="cite_note-75"><span class="mw-cite-backlink"><b><a href="#cite_ref-75">^</a></b></span> <span class="reference-text">Bork (1978), p. 406.</span> </li> <li id="cite_note-76"><span class="mw-cite-backlink"><b><a href="#cite_ref-76">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFEasterbrook1984" class="citation journal cs1"><a href="/wiki/Frank_Easterbrook" title="Frank Easterbrook">Easterbrook, Frank</a> (1984). "The Limits of Antitrust". <i>Texas Law Review</i>. <b>63</b>: 1. <a href="/wiki/ISSN_(identifier)" class="mw-redirect" title="ISSN (identifier)">ISSN</a> <a rel="nofollow" class="external text" href="https://search.worldcat.org/issn/0040-4411">0040-4411</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Texas+Law+Review&rft.atitle=The+Limits+of+Antitrust&rft.volume=63&rft.pages=1&rft.date=1984&rft.issn=0040-4411&rft.aulast=Easterbrook&rft.aufirst=Frank&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACompetition+law" class="Z3988"></span></span> </li> <li id="cite_note-77"><span class="mw-cite-backlink"><b><a href="#cite_ref-77">^</a></b></span> <span class="reference-text"><i><a href="/w/index.php?title=Brooke_Group_v._Williamson&action=edit&redlink=1" class="new" title="Brooke Group v. Williamson (page does not exist)">Brooke Group v. Williamson</a></i>, <a href="/wiki/List_of_United_States_Supreme_Court_cases,_volume_509" title="List of United States Supreme Court cases, volume 509">509</a> <a href="/wiki/United_States_Reports" title="United States Reports">U.S.</a> <a rel="nofollow" class="external text" href="https://supreme.justia.com/cases/federal/us/509/209/">209</a> (1993).</span> </li> <li id="cite_note-78"><span class="mw-cite-backlink"><b><a href="#cite_ref-78">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFAkcigitBaslandzeLotti2023" class="citation journal cs1">Akcigit, Ufuk; Baslandze, Salomé; Lotti, Francesca (2023). <a rel="nofollow" class="external text" href="http://www.nber.org/papers/w25136.pdf">"Connecting to Power: Political Connections, Innovation, and Firm Dynamics"</a> <span class="cs1-format">(PDF)</span>. <i>Econometrica</i>. <b>91</b> (2): 529–564. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.3982%2FECTA18338">10.3982/ECTA18338</a>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200508070019/https://www.nber.org/papers/w25136.pdf">Archived</a> <span class="cs1-format">(PDF)</span> from the original on 8 May 2020.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Econometrica&rft.atitle=Connecting+to+Power%3A+Political+Connections%2C+Innovation%2C+and+Firm+Dynamics&rft.volume=91&rft.issue=2&rft.pages=529-564&rft.date=2023&rft_id=info%3Adoi%2F10.3982%2FECTA18338&rft.aulast=Akcigit&rft.aufirst=Ufuk&rft.au=Baslandze%2C+Salom%C3%A9&rft.au=Lotti%2C+Francesca&rft_id=http%3A%2F%2Fwww.nber.org%2Fpapers%2Fw25136.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACompetition+law" class="Z3988"></span></span> </li> <li id="cite_note-79"><span class="mw-cite-backlink"><b><a href="#cite_ref-79">^</a></b></span> <span class="reference-text">C-27/76 <i>United Brands Continental BV v. Commission</i> [1978] ECR 207</span> </li> <li id="cite_note-80"><span class="mw-cite-backlink"><b><a href="#cite_ref-80">^</a></b></span> <span class="reference-text">C-85/76 <i>Hoffmann-La Roche & Co AG v. Commission</i> [1979] ECR 461</span> </li> <li id="cite_note-81"><span class="mw-cite-backlink"><b><a href="#cite_ref-81">^</a></b></span> <span class="reference-text"><i>AKZO</i> [1991]</span> </li> <li id="cite_note-82"><span class="mw-cite-backlink"><b><a href="#cite_ref-82">^</a></b></span> <span class="reference-text"><i>Michelin</i> [1983]</span> </li> <li id="cite_note-83"><span class="mw-cite-backlink"><b><a href="#cite_ref-83">^</a></b></span> <span class="reference-text"><i>Continental Can</i> [1973]</span> </li> <li id="cite_note-84"><span class="mw-cite-backlink"><b><a href="#cite_ref-84">^</a></b></span> <span class="reference-text">Art. 82 (b) <i>Porto di Genova</i> [1991]</span> </li> <li id="cite_note-85"><span class="mw-cite-backlink"><b><a href="#cite_ref-85">^</a></b></span> <span class="reference-text"><a rel="nofollow" class="external text" href="https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:62004TO0201(02)">Order of the President of the Court of First Instance of 22 December 2004. Microsoft Corp. v Commission of the European Communities. Proceedings for interim relief - Article 82 EC. Case T-201/04 R</a>, <a rel="nofollow" class="external text" href="https://eur-lex.europa.eu/legal-content/EN/ALL/?uri=ecli:ECLI:EU:T:2004:372">ECLI:EU:T:2004:372</a></span> </li> <li id="cite_note-86"><span class="mw-cite-backlink"><b><a href="#cite_ref-86">^</a></b></span> <span class="reference-text"><i><a href="/wiki/Commercial_Solvents" class="mw-redirect" title="Commercial Solvents">Commercial Solvents</a></i> [1974]</span> </li> <li id="cite_note-87"><span class="mw-cite-backlink"><b><a href="#cite_ref-87">^</a></b></span> <span class="reference-text"><a rel="nofollow" class="external text" href="https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:61987CJ0030">Judgment of the Court (Sixth Chamber) of 4 May 1988. Corinne Bodson v SA Pompes funèbres des régions libérées. Reference for a preliminary ruling: Cour de cassation - France. Competition - Funeral services - Exclusive special rights. Case 30/87.</a>, <a rel="nofollow" class="external text" href="https://eur-lex.europa.eu/legal-content/EN/ALL/?uri=ecli:ECLI:EU:C:1988:225">ECLI:EU:C:1988:225</a></span> </li> <li id="cite_note-88"><span class="mw-cite-backlink"><b><a href="#cite_ref-88">^</a></b></span> <span class="reference-text">see, e.g. Posner (1998) p. 332; "While it is possible to imagine cases in which predatory pricing would be a rational stragy, it should be apparent by now why confirmed cases of it are rare."</span> </li> <li id="cite_note-89"><span class="mw-cite-backlink"><b><a href="#cite_ref-89">^</a></b></span> <span class="reference-text">Case T-340/03 <i>France Telecom SA v. Commission</i></span> </li> <li id="cite_note-90"><span class="mw-cite-backlink"><b><a href="#cite_ref-90">^</a></b></span> <span class="reference-text"><i>AKZO</i> [1991] para 71</span> </li> <li id="cite_note-91"><span class="mw-cite-backlink"><b><a href="#cite_ref-91">^</a></b></span> <span class="reference-text">in the EU under Article 82(2)c)</span> </li> <li id="cite_note-92"><span class="mw-cite-backlink"><b><a href="#cite_ref-92">^</a></b></span> <span class="reference-text"><i>Irish Sugar</i> [1999]</span> </li> <li id="cite_note-93"><span class="mw-cite-backlink"><b><a href="#cite_ref-93">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFThe_World_Bank" class="citation book cs1">The World Bank. <a rel="nofollow" class="external text" href="http://documents.worldbank.org/curated/en/367551468207280159/pdf/811370revision0Box0379837B00PUBLIC0.pdf"><i>Republic of Armenia Accumulation, Competition, and Connectivity Global Competition</i></a> <span class="cs1-format">(PDF)</span>. The World Bank. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20190507095519/http://documents.worldbank.org/curated/en/367551468207280159/pdf/811370revision0Box0379837B00PUBLIC0.pdf">Archived</a> <span class="cs1-format">(PDF)</span> from the original on 7 May 2019<span class="reference-accessdate">. Retrieved <span class="nowrap">7 May</span> 2019</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Republic+of+Armenia+Accumulation%2C+Competition%2C+and+Connectivity+Global+Competition&rft.pub=The+World+Bank&rft.au=The+World+Bank&rft_id=http%3A%2F%2Fdocuments.worldbank.org%2Fcurated%2Fen%2F367551468207280159%2Fpdf%2F811370revision0Box0379837B00PUBLIC0.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACompetition+law" class="Z3988"></span></span> </li> <li id="cite_note-94"><span class="mw-cite-backlink"><b><a href="#cite_ref-94">^</a></b></span> <span class="reference-text">Under EC law, a concentration is where a "change of control on a lasting basis results from (a) the merger of two or more previously independent undertakings... (b) the acquisition... if direct or indirect control of the whole or parts of one or more other undertakings". Art. 3(1), Regulation 139/2004, the <a href="/wiki/European_Community_Merger_Regulation" class="mw-redirect" title="European Community Merger Regulation">European Community Merger Regulation</a></span> </li> <li id="cite_note-95"><span class="mw-cite-backlink"><b><a href="#cite_ref-95">^</a></b></span> <span class="reference-text">In the case of [T-102/96] <i>Gencor Ltd v. Commission</i> [1999] ECR II-753 the EU <a href="/wiki/Court_of_First_Instance" class="mw-redirect" title="Court of First Instance">Court of First Instance</a> wrote merger control is there "to avoid the establishment of market structures which may create or strengthen a dominant position and not need to control directly possible abuses of dominant positions"</span> </li> <li id="cite_note-96"><span class="mw-cite-backlink"><b><a href="#cite_ref-96">^</a></b></span> <span class="reference-text">The authority for the Commission to pass this regulation is found under Art. 83 TEC</span> </li> <li id="cite_note-97"><span class="mw-cite-backlink"><b><a href="#cite_ref-97">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFCoase1937" class="citation journal cs1"><a href="/wiki/Ronald_H._Coase" class="mw-redirect" title="Ronald H. Coase">Coase, Ronald H.</a> (November 1937). <a rel="nofollow" class="external text" href="https://web.archive.org/web/20070113063048/http://www.cerna.ensmp.fr/Enseignement/CoursEcoIndus/SupportsdeCours/COASE.pdf">"The Nature of the Firm"</a> <span class="cs1-format">(PDF)</span>. <i>Economica</i>. <b>4</b> (16): 386–405. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1111%2Fj.1468-0335.1937.tb00002.x">10.1111/j.1468-0335.1937.tb00002.x</a>. Archived from <a rel="nofollow" class="external text" href="http://www.cerna.ensmp.fr/Enseignement/CoursEcoIndus/SupportsdeCours/COASE.pdf">the original</a> <span class="cs1-format">(PDF)</span> on 13 January 2007<span class="reference-accessdate">. Retrieved <span class="nowrap">10 February</span> 2007</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Economica&rft.atitle=The+Nature+of+the+Firm&rft.volume=4&rft.issue=16&rft.pages=386-405&rft.date=1937-11&rft_id=info%3Adoi%2F10.1111%2Fj.1468-0335.1937.tb00002.x&rft.aulast=Coase&rft.aufirst=Ronald+H.&rft_id=http%3A%2F%2Fwww.cerna.ensmp.fr%2FEnseignement%2FCoursEcoIndus%2FSupportsdeCours%2FCOASE.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACompetition+law" class="Z3988"></span></span> </li> <li id="cite_note-98"><span class="mw-cite-backlink"><b><a href="#cite_ref-98">^</a></b></span> <span class="reference-text">Art. 2(3) Reg. 129/2005</span> </li> <li id="cite_note-99"><span class="mw-cite-backlink"><b><a href="#cite_ref-99">^</a></b></span> <span class="reference-text">Clayton Act Section 7, codified at <a href="/wiki/Title_15_of_the_United_States_Code" title="Title 15 of the United States Code">15 U.S.C.</a> <a rel="nofollow" class="external text" href="https://www.law.cornell.edu/uscode/text/15/18">§ 18</a></span> </li> <li id="cite_note-100"><span class="mw-cite-backlink"><b><a href="#cite_ref-100">^</a></b></span> <span class="reference-text">see, for instance para 17, <i>Guidelines on the assessment of horizontal mergers</i> (2004/C 31/03)</span> </li> <li id="cite_note-101"><span class="mw-cite-backlink"><b><a href="#cite_ref-101">^</a></b></span> <span class="reference-text">C-68/94 <i>France v. Commission</i> [1998] ECR I-1375, para. 219</span> </li> <li id="cite_note-102"><span class="mw-cite-backlink"><b><a href="#cite_ref-102">^</a></b></span> <span class="reference-text"><i>Italian Flat Glass</i> [1992] ECR ii-1403</span> </li> <li id="cite_note-103"><span class="mw-cite-backlink"><b><a href="#cite_ref-103">^</a></b></span> <span class="reference-text">T-342/99 <i>Airtours plc v. Commission</i> [2002] ECR II-2585, para 62</span> </li> <li id="cite_note-104"><span class="mw-cite-backlink"><b><a href="#cite_ref-104">^</a></b></span> <span class="reference-text"><i>Mannesmann, Vallourec and Ilva</i> [1994] CMLR 529, OJ L102 21 April 1994</span> </li> <li id="cite_note-105"><span class="mw-cite-backlink"><b><a href="#cite_ref-105">^</a></b></span> <span class="reference-text">see the argument put forth in Hovenkamp H (1999) <i>Federal Antitrust Policy: The Law of Competition and Its Practice</i>, 2nd Ed, West Group, St. Paul, Minnesota. Unlike the authorities however, the courts take a dim view of the efficiencies defense.</span> </li> <li id="cite_note-106"><span class="mw-cite-backlink"><b><a href="#cite_ref-106">^</a></b></span> <span class="reference-text"><i>Kali und Salz AG v. Commission</i> [1975] ECR 499</span> </li> <li id="cite_note-107"><span class="mw-cite-backlink"><b><a href="#cite_ref-107">^</a></b></span> <span class="reference-text"><i>Time Warner/AOL</i> [2002] 4 CMLR 454, OJ L268</span> </li> <li id="cite_note-108"><span class="mw-cite-backlink"><b><a href="#cite_ref-108">^</a></b></span> <span class="reference-text">e.g. <i>Guinness/Grand Metropolitan</i> [1997] 5 CMLR 760, OJ L288; Many in the US disapprove of this approach, see W. J. Kolasky, <i>Conglomerate Mergers and Range Effects: It's a long way from Chicago to Brussels</i> 9 November 2001, Address before George Mason University Symposium Washington, DC.</span> </li> <li id="cite_note-109"><span class="mw-cite-backlink"><b><a href="#cite_ref-109">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation report cs1"><a rel="nofollow" class="external text" href="https://www.usdoj.gov/atr/public/hearings/ip/222655.pdf">Antitrust Enforcement and Intellectual Property Rights: Promoting Innovation and Competition</a> <span class="cs1-format">(PDF)</span> (Report). U.S. Department of Justice and Federal Trade Commission. April 2007. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20090530112144/http://www.usdoj.gov/atr/public/hearings/ip/222655.pdf">Archived</a> <span class="cs1-format">(PDF)</span> from the original on 30 May 2009<span class="reference-accessdate">. Retrieved <span class="nowrap">9 October</span> 2009</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=report&rft.btitle=Antitrust+Enforcement+and+Intellectual+Property+Rights%3A+Promoting+Innovation+and+Competition&rft.pub=U.S.+Department+of+Justice+and+Federal+Trade+Commission&rft.date=2007-04&rft_id=http%3A%2F%2Fwww.usdoj.gov%2Fatr%2Fpublic%2Fhearings%2Fip%2F222655.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACompetition+law" class="Z3988"></span></span> </li> <li id="cite_note-110"><span class="mw-cite-backlink"><b><a href="#cite_ref-110">^</a></b></span> <span class="reference-text">Suzanne Scotchmer: "Innovation and Incentives" the MIT press, 2004 (Chapter 2).</span> </li> </ol></div></div> <div class="mw-heading mw-heading2"><h2 id="References">References</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Competition_law&action=edit&section=26" title="Edit section: References"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <ul><li><a href="/wiki/Robert_Bork" title="Robert Bork">Bork, Robert H.</a> (1978) <i><a href="/wiki/The_Antitrust_Paradox" title="The Antitrust Paradox">The Antitrust Paradox</a></i>, New York Free Press <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/0-465-00369-9" title="Special:BookSources/0-465-00369-9">0-465-00369-9</a></li> <li>_____ (1993). <i>The Antitrust Paradox</i> (second edition). New York: Free Press. <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/0-02-904456-1" title="Special:BookSources/0-02-904456-1">0-02-904456-1</a>.</li> <li><a href="/wiki/Milton_Friedman" title="Milton Friedman">Friedman, Milton</a> (1999) <a rel="nofollow" class="external text" href="https://web.archive.org/web/20121030060046/http://www.cato.org/pubs/policy_report/v21n2/cpr399.pdf">"The Business Community's Suicidal Impulse"</a>, <i>Cato Policy Report</i>, 21(2), pp. 6–7 (scroll down & press <b>+</b>).</li> <li><a href="/wiki/Kenneth_Galbraith" class="mw-redirect" title="Kenneth Galbraith">Galbraith Kenneth</a> (1967) <i>The New Industrial State</i></li> <li>Harrington, Joseph E. (2008). "antitrust enforcement," <i><a href="/wiki/The_New_Palgrave_Dictionary_of_Economics" title="The New Palgrave Dictionary of Economics">The New Palgrave Dictionary of Economics</a></i>, 2nd Edition. <a rel="nofollow" class="external text" href="http://www.dictionaryofeconomics.com/article?id=pde2008_A000223&edition=current&q=antitrust&topicid=&result_number=1">Abstract.</a></li> <li><a href="/wiki/John_Stuart_Mill" title="John Stuart Mill">Mill, John Stuart</a> (1859) <i><a href="/wiki/On_Liberty" title="On Liberty">On Liberty</a></i></li> <li><a href="/wiki/Richard_Posner" title="Richard Posner">Posner, Richard</a> (2001) <i>Antitrust Law</i>, 2nd ed., <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-226-67576-3" title="Special:BookSources/978-0-226-67576-3">978-0-226-67576-3</a> <a rel="nofollow" class="external text" href="https://books.google.com/books?id=vV3i8XCzc8cC&pg=PR5">Preview.</a></li> <li>_____ (2007) <i>Economic Analysis of Law</i> 7th ed., <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-7355-6354-4" title="Special:BookSources/978-0-7355-6354-4">978-0-7355-6354-4</a></li> <li>Prosser, Tony (2005) <i>The Limits of Competition Law</i>, ch.1</li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFRubinfeld2001" class="citation cs2">Rubinfeld, D.L. (2001), "Antitrust Policy", <i>International Encyclopedia of the Social & Behavioral Sciences</i>, pp. 553–560, <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1016%2FB0-08-043076-7%2F02299-3">10.1016/B0-08-043076-7/02299-3</a>, <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/9780080430768" title="Special:BookSources/9780080430768"><bdi>9780080430768</bdi></a></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=bookitem&rft.atitle=Antitrust+Policy&rft.btitle=International+Encyclopedia+of+the+Social+%26+Behavioral+Sciences&rft.pages=553-560&rft.date=2001&rft_id=info%3Adoi%2F10.1016%2FB0-08-043076-7%2F02299-3&rft.isbn=9780080430768&rft.aulast=Rubinfeld&rft.aufirst=D.L.&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACompetition+law" class="Z3988"></span></li> <li><a href="/wiki/Joseph_Schumpeter" title="Joseph Schumpeter">Schumpeter, Joseph</a> (1942) <i>The Process of Creative Destruction</i></li> <li><a href="/wiki/Adam_Smith" title="Adam Smith">Smith, Adam</a> (1776) <i><a href="/wiki/The_Wealth_of_Nations" title="The Wealth of Nations">An Enquiry into the Nature and Causes of the Wealth of Nations</a></i> online <a rel="nofollow" class="external text" href="https://web.archive.org/web/20070927202615/http://www.adamsmith.org/smith/won-index.htm">from the Adam Smith Institute</a></li> <li><a href="/wiki/Richard_Wilberforce,_Baron_Wilberforce" title="Richard Wilberforce, Baron Wilberforce">Wilberforce, Richard</a>, Alan Campbell and Neil Elles (1966) <i>The Law of Restrictive Practices and Monopolies</i>, 2nd edition, London: Sweet and Maxwell <a href="/wiki/LCCN_(identifier)" class="mw-redirect" title="LCCN (identifier)">LCCN</a> <a rel="nofollow" class="external text" href="https://www.loc.gov/item/66070116">66-70116</a></li> <li>Whish, Richard (2003) <i>Competition Law</i>, 5th Ed. Lexis Nexis Butterworths</li> <li><a rel="nofollow" class="external free" href="https://anali.rs/the-klobuchar-bill-is-something-rotten-in-the-us-antitrust-legislative-reform/">https://anali.rs/the-klobuchar-bill-is-something-rotten-in-the-us-antitrust-legislative-reform/</a></li></ul> <div class="mw-heading mw-heading2"><h2 id="Further_reading">Further reading</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Competition_law&action=edit&section=27" title="Edit section: Further reading"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <ul><li><i>Competition Policy International</i>, <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><a href="/wiki/ISSN_(identifier)" class="mw-redirect" title="ISSN (identifier)">ISSN</a> <a rel="nofollow" class="external text" href="https://www.worldcat.org/search?fq=x0:jrnl&q=n2:1554-6853">1554-6853</a>, available at <a rel="nofollow" class="external free" href="https://web.archive.org/web/20071127034131/http://www.globalcompetitionpolicy.org/">https://web.archive.org/web/20071127034131/http://www.globalcompetitionpolicy.org/</a></li> <li>Elhauge, Einer, Geradin, Damien (2007) <i>Global Competition Law and Economics</i>, <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/1-84113-465-1" title="Special:BookSources/1-84113-465-1">1-84113-465-1</a></li> <li>Faull, Jonathan, Nikpay, Ali (eds) (2007) "Faull & Nikpay : The EC Law of Competition," <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-19-926929-7" title="Special:BookSources/978-0-19-926929-7">978-0-19-926929-7</a></li> <li>Georg Erber, Georg, Kooths, Stefan, '"Windows Vista: Securing Itself against Competition?'," in: <i>DIW Weekly Report</i>, 2/2007, Vol.3, 7–14.</li> <li>Hylton, Keith N., et al., "Antitrust World Reports'," available at <a rel="nofollow" class="external free" href="https://web.archive.org/web/20080724022203/http://www.antitrustworldwiki.com/">https://web.archive.org/web/20080724022203/http://www.antitrustworldwiki.com/</a></li></ul> <div class="mw-heading mw-heading2"><h2 id="External_links">External links</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Competition_law&action=edit&section=28" title="Edit section: External links"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <ul><li><a rel="nofollow" class="external text" href="https://unctad.org/topic/competition-and-consumer-protection/the-united-nations-set-of-principles-on-competition">United Nations set of principles on competition (The UN Set)</a></li> <li><a rel="nofollow" class="external text" href="https://unctad.org/topic/competition-and-consumer-protection/intergovernmental-group-of-experts-on-competition-law-and-policy">Intergovernmental Group of Experts on Competition Law and Policy</a></li></ul> <div class="navbox-styles"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><style data-mw-deduplicate="TemplateStyles:r1236075235">.mw-parser-output .navbox{box-sizing:border-box;border:1px solid #a2a9b1;width:100%;clear:both;font-size:88%;text-align:center;padding:1px;margin:1em auto 0}.mw-parser-output .navbox .navbox{margin-top:0}.mw-parser-output .navbox+.navbox,.mw-parser-output .navbox+.navbox-styles+.navbox{margin-top:-1px}.mw-parser-output .navbox-inner,.mw-parser-output .navbox-subgroup{width:100%}.mw-parser-output .navbox-group,.mw-parser-output .navbox-title,.mw-parser-output .navbox-abovebelow{padding:0.25em 1em;line-height:1.5em;text-align:center}.mw-parser-output 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<li><a href="/wiki/Drug_policy" title="Drug policy">Drugs law</a></li> <li><a href="/wiki/Election_law" title="Election law">Election law</a></li> <li><a href="/wiki/Energy_law" title="Energy law">Energy law</a></li> <li><a href="/wiki/Entertainment_law" title="Entertainment law">Entertainment law</a> (Media law)</li> <li><a href="/wiki/Environmental_law" title="Environmental law">Environmental law</a></li> <li><a href="/wiki/Family_law" title="Family law">Family law</a></li> <li><a href="/wiki/Financial_law" title="Financial law">Financial law</a></li> <li><a href="/wiki/Financial_regulation" title="Financial regulation">Financial regulation</a></li> <li><a href="/wiki/Health_law" title="Health law">Health law</a></li> <li><a href="/wiki/Immigration_law" title="Immigration law">Immigration law</a></li> <li><a href="/wiki/Intellectual_property" title="Intellectual property">Intellectual property</a></li> <li><a href="/wiki/International_criminal_law" title="International criminal law">International criminal law</a></li> <li><a href="/wiki/International_human_rights_law" title="International human rights law">International human rights</a></li> <li><a href="/wiki/Slavery_in_international_law" title="Slavery in international law">International slavery laws</a></li> <li><a href="/wiki/International_trade_law" title="International trade law">International trade law</a></li> <li><a href="/wiki/Jurimetrics" title="Jurimetrics">Jurimetrics</a></li> <li><a href="/wiki/Labour_law" title="Labour law">Labour</a></li> <li><a href="/wiki/Landlord%E2%80%93tenant_law" title="Landlord–tenant law">Landlord–tenant law</a></li> <li><a href="/wiki/Law_of_war" title="Law of war">Law of war</a></li> <li><a href="/wiki/Legal_archaeology" title="Legal archaeology">Legal archaeology</a></li> <li><a href="/wiki/Legal_fiction" title="Legal fiction">Legal fiction</a></li> <li><a href="/wiki/Admiralty_law" title="Admiralty law">Maritime law</a></li> <li><a href="/wiki/Marriage_law" title="Marriage law">Marriage law</a></li> <li><a href="/wiki/Military_justice" title="Military justice">Military law</a></li> <li><a href="/wiki/Nationality_law" title="Nationality law">Nationality law</a></li> <li><a href="/wiki/Probate" title="Probate">Probate</a> <ul><li><a href="/wiki/Estate_(law)" title="Estate (law)">Estate</a></li> <li><a href="/wiki/Will_and_testament" title="Will and testament">Will and testament</a></li></ul></li> <li><a href="/wiki/Product_liability" title="Product liability">Product liability</a></li> <li><a href="/wiki/International_law" title="International law">Public international law</a></li> <li><a href="/wiki/Refugee_law" title="Refugee law">Refugee law</a></li> <li><a href="/wiki/Reparation_(legal)" title="Reparation (legal)">Reparations</a></li> <li><a href="/wiki/Space_law" title="Space law">Space law</a></li> <li><a href="/wiki/Sports_law_in_the_United_States" title="Sports law in the United States">Sports law</a></li> <li><a href="/wiki/State_of_emergency" title="State of emergency">State of emergency</a></li> <li><a href="/wiki/Tax_law" title="Tax law">Tax law</a></li> <li><a href="/wiki/Transport_law" title="Transport law">Transport law</a></li> <li><a href="/wiki/Trust_(law)" title="Trust (law)">Trust law</a></li> <li><a href="/wiki/Unenforced_law" title="Unenforced law">Unenforced law</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="text-align:center;;width:1%"><a href="/wiki/Sources_of_law" title="Sources of law">Sources of law</a></th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Charter" title="Charter">Charter</a></li> <li><a href="/wiki/Code_of_law" title="Code of law">Legal code</a> / <a href="/wiki/Statutory_law" class="mw-redirect" title="Statutory law">Statutory law</a></li> <li><a href="/wiki/Constitution" title="Constitution">Constitution</a></li> <li><a href="/wiki/Customary_law" title="Customary law">Custom</a></li> <li><a href="/wiki/Divine_right_of_kings" title="Divine right of kings">Divine right</a> <ul><li><a href="/wiki/Divine_law" title="Divine law">Divine law</a></li></ul></li> <li><a href="/wiki/Human_rights" title="Human rights">Human rights</a></li> <li><a href="/wiki/Letters_patent" title="Letters patent">Letters patent</a></li> <li><a href="/wiki/Natural_law" title="Natural law">Natural law</a> <ul><li><a href="/wiki/Natural_rights_and_legal_rights" title="Natural rights and legal rights">Natural and legal rights</a></li></ul></li> <li><a href="/wiki/Case_law" title="Case law">Case law</a> <ul><li><a href="/wiki/Precedent" title="Precedent">Precedent</a></li> <li><a href="/wiki/Law_report" title="Law report">Law reports</a></li></ul></li> <li><a href="/wiki/Legal_treatise" title="Legal treatise">Legal treatise</a></li> <li><a href="/wiki/Regulation" title="Regulation">Regulations</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="text-align:center;;width:1%"><a href="/wiki/Lawmaking" title="Lawmaking">Law making</a></th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Referendum" title="Referendum">Ballot measure</a></li> <li><a href="/wiki/Codification_(law)" title="Codification (law)">Codification</a></li> <li><a href="/wiki/Decree" title="Decree">Decree</a> <ul><li><a href="/wiki/Edict" title="Edict">Edict</a></li> <li><a href="/wiki/Executive_order_(disambiguation)" class="mw-disambig" title="Executive order (disambiguation)">Executive order</a></li> <li><a href="/wiki/Proclamation" title="Proclamation">Proclamation</a></li></ul></li> <li><a href="/wiki/Legislation" title="Legislation">Legislation</a> <ul><li><a href="/wiki/Primary_and_secondary_legislation" title="Primary and secondary legislation">Delegated legislation</a></li> <li><a href="/wiki/Regulation" title="Regulation">Regulation</a></li> <li><a href="/wiki/Rulemaking" title="Rulemaking">Rulemaking</a></li></ul></li> <li><a href="/wiki/Promulgation" title="Promulgation">Promulgation</a></li> <li><a href="/wiki/Ratification" title="Ratification">Ratification</a></li> <li><a href="/wiki/Repeal" title="Repeal">Repeal</a></li> <li><a href="/wiki/Treaty" title="Treaty">Treaty</a> <ul><li><a href="/wiki/Concordat" title="Concordat">Concordat</a></li></ul></li> <li><a href="/wiki/Statutory_law" class="mw-redirect" title="Statutory law">Statutory law</a> <ul><li><a href="/wiki/Statute" title="Statute">Statute</a></li> <li><a href="/wiki/Act_of_parliament" title="Act of parliament">Act of parliament</a></li> <li><a href="/wiki/Act_of_Congress" title="Act of Congress">Act of Congress</a></li></ul></li> <li><a href="/wiki/Basic_structure_doctrine" title="Basic structure doctrine">Basic structure doctrine</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="text-align:center;;width:1%"><a href="/wiki/List_of_national_legal_systems" title="List of national legal systems">Legal systems</a></th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Civil_law_(legal_system)" title="Civil law (legal system)">Civil law</a></li> <li><a href="/wiki/Common_law" title="Common law">Common law</a></li> <li><a href="/wiki/Chinese_law" title="Chinese law">Chinese law</a></li> <li><a href="/wiki/Legal_pluralism" title="Legal pluralism">Legal pluralism</a></li> <li><a href="/wiki/Religious_law" title="Religious law">Religious law</a> <ul><li><a href="/wiki/Canon_law" title="Canon law">Canon law</a> <ul><li><a href="/wiki/Canon_law_of_the_Catholic_Church" title="Canon law of the Catholic Church">Catholic canon law</a></li></ul></li> <li><a href="/wiki/Hindu_law" title="Hindu law">Hindu law</a></li> <li><a href="/wiki/Jain_law" title="Jain law">Jain law</a></li> <li><a href="/wiki/Halakha" title="Halakha">Jewish law</a></li> <li><a href="/wiki/Parsi_law" title="Parsi law">Parsi law</a></li> <li><a href="/wiki/Sharia" title="Sharia">Sharia</a></li></ul></li> <li><a href="/wiki/Roman_law" title="Roman law">Roman law</a> <ul><li><a href="/wiki/Byzantine_law" title="Byzantine law">Byzantine law</a></li></ul></li> <li><a href="/wiki/Socialist_law" title="Socialist law">Socialist law</a></li> <li><a href="/wiki/Statutory_law" class="mw-redirect" title="Statutory law">Statutory law</a></li> <li><a href="/wiki/Xeer" title="Xeer">Xeer</a></li> <li><a href="/wiki/Yassa" title="Yassa">Yassa</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="text-align:center;;width:1%">Legal theory</th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Anarchist_law" title="Anarchist law">Anarchist</a></li> <li><a href="/wiki/Contract_theory" title="Contract theory">Contract theory</a></li> <li><a href="/wiki/Comparative_law" title="Comparative law">Comparative law</a></li> <li><a href="/wiki/Expressive_function_of_law" title="Expressive function of law">Expressive function</a></li> <li><a href="/wiki/Feminist_legal_theory" title="Feminist legal theory">Feminist</a></li> <li><a href="/wiki/Law_and_economics" title="Law and economics">Law and economics</a></li> <li><a href="/wiki/Legal_formalism" title="Legal formalism">Legal formalism</a></li> <li><a href="/wiki/Legal_history" title="Legal history">History</a></li> <li><a href="/wiki/Libertarian_theories_of_law" title="Libertarian theories of law">Libertarian</a></li> <li><a href="/wiki/International_legal_theories" title="International legal theories">International legal theory</a></li> <li><a href="/wiki/Legality" title="Legality">Principle of legality</a></li> <li><a href="/wiki/Principle_of_typicality" title="Principle of typicality">Principle of typicality</a></li> <li><a href="/wiki/Pseudolaw" title="Pseudolaw">Pseudolaw</a></li> <li><a href="/wiki/Rule_of_law" title="Rule of law">Rule of law</a></li> <li><a href="/wiki/Rule_of_man" title="Rule of man">Rule of man</a></li> <li><a href="/wiki/Sociology_of_law" title="Sociology of law">Sociology</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="text-align:center;;width:1%"><a href="/wiki/Jurisprudence" title="Jurisprudence">Jurisprudence</a></th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Adjudication" title="Adjudication">Adjudication</a></li> <li><a href="/wiki/Administration_of_justice" title="Administration of justice">Administration of justice</a></li> <li><a href="/wiki/Constitutionalism" title="Constitutionalism">Constitutionalism</a></li> <li><a href="/wiki/Criminal_justice" title="Criminal justice">Criminal justice</a></li> <li><a href="/wiki/Court-martial" title="Court-martial">Court-martial</a></li> <li><a href="/wiki/Dispute_resolution" title="Dispute resolution">Dispute resolution</a></li> <li><a href="/wiki/Fiqh" title="Fiqh">Fiqh</a></li> <li><a href="/wiki/Lawsuit" title="Lawsuit">Lawsuit/Litigation</a></li> <li><a href="/wiki/Legal_opinion" title="Legal opinion">Legal opinion</a></li> <li><a href="/wiki/Legal_remedy" title="Legal remedy">Legal remedy</a></li> <li><a href="/wiki/Judge" title="Judge">Judge</a> <ul><li><a href="/wiki/Justice_of_the_peace" title="Justice of the peace">Justice of the peace</a></li> <li><a href="/wiki/Magistrate" title="Magistrate">Magistrate</a></li></ul></li> <li><a href="/wiki/Judgment_(law)" title="Judgment (law)">Judgment</a></li> <li><a href="/wiki/Judicial_review" title="Judicial review">Judicial review</a></li> <li><a href="/wiki/Jurisdiction" title="Jurisdiction">Jurisdiction</a></li> <li><a href="/wiki/Jury" title="Jury">Jury</a></li> <li><a href="/wiki/Justice" title="Justice">Justice</a></li> <li><a href="/wiki/Practice_of_law" title="Practice of law">Practice of law</a> <ul><li><a href="/wiki/Attorney_at_law" title="Attorney at law">Attorney</a></li> <li><a href="/wiki/Barrister" title="Barrister">Barrister</a></li> <li><a href="/wiki/Counsel" title="Counsel">Counsel</a></li> <li><a href="/wiki/Lawyer" title="Lawyer">Lawyer</a></li> <li><a href="/wiki/Defense_(legal)" title="Defense (legal)">Legal representation</a></li> <li><a href="/wiki/Prosecutor" title="Prosecutor">Prosecutor</a></li> <li><a href="/wiki/Solicitor" title="Solicitor">Solicitor</a></li></ul></li> <li><a href="/wiki/Question_of_law#Question_of_fact" title="Question of law">Question of fact</a></li> <li><a href="/wiki/Question_of_law" title="Question of law">Question of law</a></li> <li><a href="/wiki/Trial" title="Trial">Trial</a></li> <li><a href="/wiki/Trial_advocacy" title="Trial advocacy">Trial advocacy</a></li> <li><a href="/wiki/Trier_of_fact" title="Trier of fact">Trier of fact</a></li> <li><a href="/wiki/Verdict" title="Verdict">Verdict</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="text-align:center;;width:1%">Legal institutions</th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Barristers%27_chambers" title="Barristers' chambers">Barristers' chambers</a></li> <li><a href="/wiki/Bureaucracy" title="Bureaucracy">Bureaucracy</a></li> <li><a href="/wiki/Bar_(law)" title="Bar (law)">The bar</a></li> <li><a href="/wiki/Bench_(law)" title="Bench (law)">The bench</a></li> <li><a href="/wiki/Civil_society" title="Civil society">Civil society</a></li> <li><a href="/wiki/Court" title="Court">Court</a></li> <li><a href="/wiki/Court_of_equity" title="Court of equity">Court of equity</a></li> <li><a href="/wiki/Election_commission" title="Election commission">Election commission</a></li> <li><a href="/wiki/Executive_(government)" title="Executive (government)">Executive</a></li> <li><a href="/wiki/Judiciary" title="Judiciary">Judiciary</a></li> <li><a href="/wiki/Law_enforcement" title="Law enforcement">Law enforcement</a> <ul><li><a href="/wiki/Law_enforcement_agency" title="Law enforcement agency">Agency</a></li></ul></li> <li><a href="/wiki/Legal_education" title="Legal education">Legal education</a> <ul><li><a href="/wiki/Law_school" title="Law school">Law school</a></li></ul></li> <li><a href="/wiki/Legislature" title="Legislature">Legislature</a></li> <li><a href="/wiki/Military" title="Military">Military</a></li> <li><a href="/wiki/Police" title="Police">Police</a></li> <li><a href="/wiki/Political_party" title="Political party">Political party</a></li> <li><a href="/wiki/Tribunal" title="Tribunal">Tribunal</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="text-align:center;;width:1%">History</th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/History_of_the_legal_profession" title="History of the legal profession">History of the legal profession</a> <ul><li><a href="/wiki/History_of_the_American_legal_profession" title="History of the American legal profession">History of the American legal profession</a></li></ul></li> <li><a href="/wiki/Women_in_law" title="Women in law">Women in law</a></li></ul> </div></td></tr><tr><td class="navbox-abovebelow hlist" colspan="2" style="text-align:center;"><div> <ul><li><b><span class="nowrap"><span class="noviewer" typeof="mw:File"><a href="/wiki/File:Balance,_by_David.svg" class="mw-file-description"><img alt="icon" src="//upload.wikimedia.org/wikipedia/commons/thumb/1/17/Balance%2C_by_David.svg/30px-Balance%2C_by_David.svg.png" decoding="async" width="30" height="28" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/1/17/Balance%2C_by_David.svg/46px-Balance%2C_by_David.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/1/17/Balance%2C_by_David.svg/61px-Balance%2C_by_David.svg.png 2x" data-file-width="606" data-file-height="558" /></a></span> </span><a href="/wiki/Portal:Law" title="Portal:Law">Law portal</a></b></li> <li><b><span class="nowrap"><span class="noviewer" typeof="mw:File"><span title="Category"><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/16px-Symbol_category_class.svg.png" decoding="async" width="16" height="16" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/23px-Symbol_category_class.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/31px-Symbol_category_class.svg.png 2x" data-file-width="180" data-file-height="185" /></span></span> </span><a href="/wiki/Category:Law" title="Category:Law">Category</a></b></li> <li><b><a href="/wiki/Index_of_law_articles" title="Index of law articles">Index</a></b></li> <li><b><a href="/wiki/Outline_of_law" title="Outline of law">Outline</a></b></li></ul> </div></td></tr></tbody></table></div> <div class="navbox-styles"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236075235"></div><div role="navigation" class="navbox" aria-labelledby="Competition_law_by_country" style="padding:3px"><table class="nowraplinks hlist mw-collapsible autocollapse navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239400231"><div class="navbar plainlinks hlist navbar-mini"><ul><li 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scope="row" class="navbox-group" style="width:1%">Asia</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/People%27s_Republic_of_China_competition_law" class="mw-redirect" title="People's Republic of China competition law">China</a></li> <li><a href="/wiki/The_Competition_Act,_2002" title="The Competition Act, 2002">India</a></li> <li><a href="/wiki/Japanese_competition_law" title="Japanese competition law">Japan</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Europe</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/European_Union_competition_law" title="European Union competition law">European Union</a> <ul><li><a href="/wiki/Irish_competition_law" title="Irish competition law">Ireland</a></li></ul></li> <li><a href="/wiki/United_Kingdom_competition_law" 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