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<header class="section section_primary section_cols section_cartouche"> <div class="section__container"> <div class="cartouche cartouche_glossaire"> <h1 class="cartouche__heading" id="start"> <span class="start-mire"></span> <span class="crayon article-titre-89170 ">Market economy investor</span> </h1> </div> </div> </header> <section class="section section_primary section_cols section_author scrollable-anchor"> <div class="section__container"> <div class="section__main"> <h2 class="section__heading" id="auteur"> <span>Author Definition</span> </h2> <div class="section__content"> <div class="definition-section"> <h3 id="part-apercu" class="definition-section-title">Definition</h3> <div class="crayon article-chapo-111803 apercu surlignable"><p>Article 107(1) TFEU prohibits the grant of state aid from Member States to undertakings. For a measure to be state aid, six cumulative conditions need to be fulfilled, i.e. the conferral of an advantage to the <a href="https://www.concurrences.com/en/dictionary/undertaking-notion">undertaking(s)</a> through the <a href="https://www.concurrences.com/en/dictionary/State-measure">state measure</a>, said measure must be imputable to the State, State resources must be employed, the measure needs to be selective, and it must also (at the very least) threaten to distort competition and <a href="https://www.concurrences.com/en/dictionary/new-translation-effet-sur-le-commerce-entre-etats">affect inter-State trade</a>. The Market Economy Operator Principle (“MEOP”) mandates that transactions carried out by Member States do not confer an advantage on undertakings, and therefore do not constitute state aid, if they are carried out in line with normal market conditions.</p></div> </div> <div class="definition-section"> <h3 id="part-texte" class="definition-section-title">Commentary</h3> <div class="crayon article-texte-111803 texte surlignable"><p>The MEOP, and its corresponding test, the MEOT (Market Economy Operator Test), are essentially a way of identifying whether an advantage has been conferred in the context of a transaction between a Member State (or public body, or <a href="https://www.concurrences.com/en/dictionary/Public-undertaking">public undertakings</a>) and an undertaking. An advantage is defined, in settled CJEU case law, as an economic benefit – of any form whatsoever – that the recipient undertaking would not have obtained under normal market conditions. In order to ascertain whether the recipient undertaking would have obtained it under normal market conditions, one needs to compare and contrast the actions of the State (the alleged aid measure) with those that a market economy operator would have made in a similar situation. If a market economy operator would have acted in a similar manner, no advantage has been conferred. If not, and the action or its conditions or terms, is any way different from that which would have been agreed on by a market economy operator, and they are, also, more favourable to the recipient undertaking, an advantage has been conferred. If all other state aid conditions are also fulfilled, state aid has been granted.</p> <p>The MEOP is the main point of entry of economic analysis in state aid law. Contrary to the rest of competition law, economic analysis does not play any real role in the definition of market shares or the distortion of competition and effect on trade conditions. However, it features prominently in the MEOP analysis. The reason is evident: one needs to employ economic tools in order to determine whether a market economy operator (also sometimes called a “private” operator) would have taken the same route with regard to a certain transaction. For example: would a private bank have granted a loan to this undertaking under the same terms as the loan issued by the State? Would a private proprietor have sold a particular building for the price it was sold at by the State, or would they have asked for more? To answer these questions, <a href="https://www.concurrences.com/en/dictionary/economic-analysis">economic analysis</a> is indispensable.</p> <p>What is irrelevant, in principle, are considerations that a market economy operator would not take into account, thus not including them in their decision-making process. For instance, a private economy investor would, in principle, not make an investment that would be loss-making, simply because the investment would benefit the local economy and/or the environment, or boost employment. On the contrary, they would focus on the profitability of the future investment and take into account factors that would influence it.</p> <p>There are various versions/iterations of the market economy operator principle, depending on the capacity in which the Member State is acting and the kind of transaction it is engaged in. For example, building on the previous example, to establish whether a State’s investment State aid, it is necessary to determine whether a private investor of a comparable size operating in normal market economy conditions would have made the investment in question. When the State grants a loan, the comparison will be with a private creditor (usually a commercial bank). When the State makes a sale, the comparison will be with a private vendor, and the test will examine whether a private vendor might have gotten the same or better price under normal market conditions. A similar test would apply to the acquisition of assets or any other transaction that could be undertaken by a private party, e.g. a lease.</p> <p>The considerations that need to be taken into account are those existing at the time of the transaction and not later on (<i>ex ante</i> assessment). For instance, if, with the available data at hand, a certain investment made business sense, the measure will not confer an advantage, even if it later proves to be a disastrous investment. However, the opposite is also true. An investment, by the State, in a certain company that made no business sense and would not have been undertaken by a private investor, will still qualify as <a href="https://www.concurrences.com/en/dictionary/state-aid">state aid</a>, even if, by chance, it ended up being highly profitable. Therefore, it is important for a Member State to carry out its own e<i>x ante</i> assessment of financial prospects of a project (e.g. a business plan), and not rely on <i>ex post</i> expert reports. Finally, it is worth noting that the fact that the measure was a fiscal (tax) measure does not rule out the possibility of it complying with the MEOP.</p></div> </div> <div class="definition-section"> <h3 id="part-jurisprudence" class="definition-section-title">Case references</h3> <div class="crayon article-reference-111803 reference"><p><a href="https://www.concurrences.com/en/review/issues/no-1-2023/chroniques/sports-the-court-of-justice-of-the-european-union-confirms-the-judgment-of-the">Case C-211/20P <i>Valencia</i> EU:C:2022:862</a></p> <p><a href="https://www.concurrences.com/en/review/issues/no-1-2023/chroniques/111272">Case C-331/20P <i>Volotea</i> EU:C:2022:886</a></p> <p><a href="https://www.concurrences.com/en/bulletin/news-issues/june-2012/The-EU-Court-of-Justice-reaffirms-64536">Case C-124/10P <i>Commission v EDF</i> EU:C:2012:318</a></p> <p>Case C-280/00 <i>Altmark</i> EU:C:2003:415</p> <p>Case C-142/87 <i>Belgium v Commission (Tubemeuse)</i> EU:C:1990:125</p></div> </div> <div class="definition-section"> <h3 id="part-biblio" class="definition-section-title">Bibliography</h3> <div class="crayon article-ps-111803 jurisprudence"><p>Commission Notice on the notion of State aid as referred to in Article 107(1) of the Treaty on the Functioning of the European Union (2016/C 262/01), section 4.2</p> <p>Conor Quigley QC, <i>European State Aid Law and Policy (and UK Subsidy Control)</i>, (4th edn, Hart Publishing 2022), Chapter 4</p> <p>Leigh Hancher, Tom Ottervanger & Piet Jan Slot, <i>EU State Aids</i> (6th edn, Sweet and Maxwell 2021), Chapter 1</p></div> </div> </div> </div> <aside class="section__aside side-col"> <div class="miniplan miniplan_definition sticky-top" id="definition-index"> <ul class="nav nav-list"> <li><a href="//en/dictionary/market-economy-investor#part-apercu" data-target="#part-apercu">Definition</a></li> <li><a href="//en/dictionary/market-economy-investor#part-texte" data-target="#part-texte">Commentary</a></li> <li><a href="//en/dictionary/market-economy-investor#part-jurisprudence" data-target="#part-jurisprudence">Case references</a></li> <li><a href="//en/dictionary/market-economy-investor#part-biblio" data-target="#part-biblio">Bibliography</a></li> </ul> </div> <h2>Author</h2> <div class="auteurs"> <ul class="liste-items liste-items-well"> <li class="item"><div class="entry auteur" itemscope itemtype="http://schema.org/Person"> <strong class="entry-title"> <a href="en/authors/dimitrios-kyriazis" itemprop="url"> <span class='logo-img-wrapper spip_logo' style="width:50px;"><span class="img" style="display:block;position:relative;height:0;width:100%;padding-bottom:100%;overflow:hidden;background:url(local/cache-vignettes/L100xH100/dimitrios-e7ebb.jpg?1711359756) no-repeat center;background-size:100%;"> </span></span> <span itemprop="name" class="nom">Dimitrios Kyriazis</span></a> </strong> <div class="entry-content"> <span class='organisation' itemprop="worksFor" itemtype="http://schema.org/Organization">National and Kapodistrian University of Athens (Athens)</span> </div> <div class="entry-meta"> <span class="pays">Greece</span> <span class="articles"><em>7</em> contributions</span> <span class="visites"><em>5502</em> visits</span> </div> </div></li> </ul> </div> <div class="well citation"> <h2>Quotation</h2> <article class="entry article article-dictionary hentry"> <span class="authors">Dimitrios Kyriazis, </span> <span class="entry-title">Market Economy Investor</span><span class="rubrique"><span class="sep">, </span> Global Dictionary of Competition Law, Concurrences, Art. N° 89170</span> </article> </div> <div class="well stats"> <p><i class="picto picto-eye"></i> <b>Visits</b> <em class="number">3781</em></p> </div> </aside> </div> </section> <section class="section section_primary section_cols section_author scrollable-anchor"> <div class="section__container"> <div class="section__main"> <h2 class="section__heading" id="institution"> <span>Institution Definition</span> </h2> <div class="section__content"> <div class="crayon article-texte-89170 texte surlignable"><p>The Market Economy Investor Principle or MEIP has been a cornerstone of state aid control since at least 1984 when the Commission published its communication on Government Capital Injections. It remains a key test of whether actions by public authorities represent state aid in the sense of Article 87(1) of the EC Treaty. (...) The essence of the MEIP is that when a public authority invests in an enterprise on terms and in conditions which would be acceptable to a private investor operating under normal market economy conditions, the investment is not a state aid. One first point to note is that the 1984 communication does not in fact identify, of the various criteria which a measure must meet in order to qualify as state aid, which is not met by a state investment respecting the MEIP. It seems clear, however, that the criterion which is not met is that of advantage: the enterprise gains no particular benefit since it could have obtained the same financing in the markets (...). <strong>©</strong> <a href="IMG/pdf/2002_2_23.pdf?47440/0286d285c978f4927543257df27d61a2393927ce247200e85bdbe8b3681e2b47" class="spip_in" type='application/pdf'><strong>European Commission</strong></a></p></div> </div> </div> <aside class="section__aside side-col"></aside> </div> </section> <section class="section section_primary section_cols section_references scrollable-anchor"> <div class="section__container"> <div class="section__main"> <section class="subsection subsection_jurisprudence related-section related-jurisprudence scrollable-anchor"> <h2 class="section__heading" id="related-jurisprudence"> <span id="references">Case Comments</span> </h2> <div class="liste articles articles-related"> <div class="liste-items"> <div class='ajaxbloc' data-ajax-env='1yVjQxWtuyhvcafcyJiGp2l+nRn8cMpqa4SlmMPBtV/77xjBG3sqOzg02YpZS1walAWPrNLZ1pnAV74msE1L9yWrNYdL2iSlFoHsK3VtvWDGaouXGFyTiFIcxXYqb78NK2F8LJ18I6PbsT2qjwDXdiLCu2pWvx36l7r7gSF7muqodZJSuLnbrKr6TfuKBLVBxQXe5jx3cviuqxrWbM8NNQ/WI/q/Kv/HqhEtSkeKOoxJs7kDiR1bE7KkX1uer9fRtSo/dyw96WLxxtLbrfE5bAGP+0+LIVSPZOAljspJJGesWF+5sEpj+TrYM4J1xZi8mEfuy9OLfMtm7j55i8ScleOSappqyu2WN9s3DA==' data-origin="//en/dictionary/market-economy-investor"> <div class="item short"> <article class="entry article hentry"> <span class="authors"><span class="vcard author"><a class="url fn spip_in" href="en/authors/alain-ronzano">Alain Ronzano</a></span></span> <strong class="h6-like entry-title"><a href="en/review/issues/no-2-2024/alerts/annulment-the-general-court-of-the-european-union-annuls-the-commission-s" rel="bookmark"><strong>Annulment</strong>: The General Court of the European Union annuls the Commission’s decision concerning wastewater pricing for large Danish slaughterhouses, due to a breach of the Commission’s impartiality requirement and misapplication of the private operator principle <em>(Danske Slagtermestre)</em></a></strong> <p class="publication"><time pubdate="pubdate" datetime="2024-04-09T22:00:00Z">10 April 2024</time></p> <div class="crayon article-intro-118279 introduction entry-content"> <p>On April 10, 2024, the European Union General Court handed down a judgment in case T-486/18 RENV (Danske Slagtermestre v. European Commission).. <br class='autobr' /> Danske Slagtermestre, a trade association representing small Danish butchers, slaughterhouses, wholesalers and processors, lodged a complaint with (…)</p> </div> </article></div> <div class="item short"> <article class="entry article hentry"> <span class="authors"><span class="vcard author"><a class="url fn spip_in" href="en/authors/bruno-stromsky">Bruno Stromsky</a></span></span> <strong class="h6-like entry-title"><a href="en/review/issues/no-3-2024/chroniques/the-principle-of-the-private-operator-the-general-court-of-the-european-union" rel="bookmark"><strong>The principle of the private operator</strong>: The General Court of the European Union annuls a Commission decision holding that a scheme of contributions for the collection of waste water was not an aid scheme, for lack of objective impartiality and breach of the principle of the private operator in a market economy (<em>Danske Slagtermestre</em>)</a></strong> <p class="publication"><time pubdate="pubdate" datetime="2024-04-09T22:00:00Z">10 April 2024</time></p> <div class="crayon article-intro-119800 introduction entry-content"> <p>This case, concerning the structure of contributions for sewage disposal in Denmark, gave rise to a ruling that may appear atypical and innovative in terms of the Commission’s notion of objective impartiality. It also contains another, perhaps less surprising but no less interesting, development (…)</p> </div> </article></div> <div class="item short"> <article class="entry article hentry"> <span class="authors"><span class="vcard author"><a class="url fn spip_in" href="en/authors/phedon-nicolaides">Phedon Nicolaides</a></span></span> <strong class="h6-like entry-title"><a href="en/bulletin/news-issues/november-2023/the-eu-commission-decides-that-rescue-package-from-an-italian-state-owned-asset" rel="bookmark">The EU Commission decides that rescue package from an Italian State-owned asset management company is not imputable to the State because decisions were made independently and with consideration to commercial interests <em>(AMCO / Ferrarini)</em></a></strong> <p class="publication"><time pubdate="pubdate" datetime="2023-11-29T23:00:00Z">30 November 2023</time></p> <div class="crayon article-intro-120380 introduction entry-content"> <p>A State-Owned Company Acts as a Private Investor* <br class='autobr' /> Introduction <br class='autobr' /> When a party to a financial transaction is a company that is owned and controlled by the state, it is difficult to determine whether the transaction is free of State aid. This is because it is not easy to prove that the state had (…)</p> </div> </article></div> <div class="item short"> <article class="entry article hentry"> <span class="authors"><span class="vcard author"><a class="url fn spip_in" href="en/authors/alain-ronzano">Alain Ronzano</a></span></span> <strong class="h6-like entry-title"><a href="en/review/issues/no-2-2023/alertes/annulment-the-general-court-of-the-european-union-annuls-the-commission-s" rel="bookmark"><strong>Annulment:</strong> The General Court of the European Union annuls the Commission’s decision validating Romanian aid to Timișoara International Airport on the grounds of errors of law concerning the selective and advantageous nature of those measures, finding that the European Commission relied on evidence established ex post (<em>Carpatair</em>)</a></strong> <p class="publication"><time pubdate="pubdate" datetime="2023-02-07T23:00:00Z">8 February 2023</time></p> <div class="crayon article-intro-111270 introduction entry-content"> <p>On February 8, 2023, the General Court of the European Union issued a judgment in case T-522/20 (Carpatair v. European Commission). <br class='autobr' /> In it, he pronounces the annulment of the decision of the Commission of 24 February 2020, concerning State aid implemented by Romania for Timișoara International (…)</p> </div> </article></div> <div class="item short"> <article class="entry article hentry"> <span class="authors"><span class="vcard author"><a class="url fn spip_in" href="en/authors/jacques-derenne">Jacques Derenne</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/auteurs/ana-alvarez-vidal-136492">Ana Alvarez Vidal</a></span></span> <strong class="h6-like entry-title"><a href="en/review/issues/no-2-2023/chroniques/112630" rel="bookmark"><strong>Airport fees</strong>: The General Court of the European Union annuls the Commission’s decision allowing Romania to grant aid to Timișoara International Airport and an airline insofar as it concludes that airport charges and agreements between the airport and the airline do not constitute State aid <em>(Carpatair)</em></a></strong> <p class="publication"><time pubdate="pubdate" datetime="2023-02-07T23:00:00Z">8 February 2023</time></p> <div class="crayon article-intro-112630 introduction entry-content"> <p>The Romanian airline Carpatair, the applicant, established its base of operations at Timișoara International Airport in 2000. The airport is operated by Societăţii Naţionale "Aeroportul Internaţional Timişoara - Traian Vuia" (hereinafter, "AITTV"), a company in which the Romanian State holds 80% (…)</p> </div> </article></div> <div class="item short"> <article class="entry article hentry"> <span class="authors"><span class="vcard author"><a class="url fn spip_in" href="en/authors/alain-ronzano">Alain Ronzano</a></span></span> <strong class="h6-like entry-title"><a href="en/review/issues/no-1-2023/alertes/private-operator-in-a-market-economy-the-court-of-justice-of-the-european-union" rel="bookmark"><strong>Private operator in a market economy:</strong> The Court of Justice of the European Union annuls both the judgment of the Court of First Instance of the European Union confirming the unlawfulness of the measures in favour of the development of air transport in Sardinia and the decision of the European Commission recalling the role and the conditions of implementation of the principle of the private operator in a market economy in the field of State aid (<em>Volotea ; easyJet Airline</em>)</a></strong> <p class="publication"><time pubdate="pubdate" datetime="2022-11-16T23:00:00Z">17 November 2022</time></p> <div class="crayon article-intro-110018 introduction entry-content"> <p>On November 17, 2022, the Court of Justice of the European Union issued a judgment in joined cases C-331/20 (Volotea v. European Commission) and C-343/20 (easyJet Airline v. European Commission). <br class='autobr' /> In order to reduce the seasonality of air routes by increasing the frequency of flights during the (…)</p> </div> </article></div> <div class="item short"> <article class="entry article hentry"> <span class="authors"><span class="vcard author"><a class="url fn spip_in" href="en/authors/bruno-stromsky">Bruno Stromsky</a></span></span> <strong class="h6-like entry-title"><a href="en/review/issues/no-1-2023/chroniques/111272" rel="bookmark"><strong>Private operator in the market economy</strong>: The Court of Justice of the European Union annuls two judgments of the Court of First Instance of the European Union and a decision of the European Commission which qualified the commercial agreements concluded between the Sardinian airports and the airlines serving Sardinia as State aid, with the financial support of the Region, with a view to improve the island’s air service and ensuring its promotion as a tourist destination <em>(Volotea ; easyJet)</em></a></strong> <p class="publication"><time pubdate="pubdate" datetime="2022-11-16T23:00:00Z">17 November 2022</time></p> <div class="crayon article-intro-111272 introduction entry-content"> <p>The judgment of November 17, 2022 overturns two judgments of the General Court (TFEU, May 13, 2020, Volotea, T-607/17, EU:T:2020:180; Germanwings, T-716/17, easyJet, T-8/18, EU:T:2020:182; see Concurrences 3-2020) and a decision of the Commission. It changes our understanding of the private (…)</p> </div> </article></div> <div class="item short"> <article class="entry article hentry"> <span class="authors"><span class="vcard author"><a class="url fn spip_in" href="en/authors/kristien-geeurickx">Kristien Geeurickx</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/auteurs/veronica-roberts">Veronica Roberts</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/auteurs/alex-rickets">Alexander Rickets</a></span></span> <strong class="h6-like entry-title"><a href="en/bulletin/news-issues/july-2022/the-uk-parliament-publishes-market-guidance-for-the-implementation-of-the" rel="bookmark">The UK Parliament publishes market guidance for the implementation of the National Securities and Investment Act</a></strong> <p class="publication"><time pubdate="pubdate" datetime="2022-07-18T22:00:00Z">19 July 2022</time></p> <div class="crayon article-intro-107863 introduction entry-content"> <p>The UK National Security and Investment (NSI) Act entered into force on 4 January 2022, introducing a new standalone UK regime for the review of qualifying transactions and investments on national security grounds (see our detailed briefing on the regime here). <br class='autobr' /> On 19 July 2022, the UK (…)</p> </div> </article></div> <div class="item short"> <article class="entry article hentry"> <span class="authors"><span class="vcard author"><a class="url fn spip_in" href="en/authors/bill-batchelor">Bill Batchelor</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/authors/frederic-depoortere">Frederic Depoortere</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/authors/aurora-luoma-112785">Aurora Luoma</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/authors/giorgio-motta">Giorgio Motta</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/authors/ingrid-vandenborre">Ingrid Vandenborre</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/authors/niels-baeten">Niels Baeten</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/auteurs/angelos-vlazakis">Angelos Vlazakis</a></span></span> <strong class="h6-like entry-title"><a href="en/bulletin/news-issues/july-2022/the-eu-parliament-steps-up-enforcement-against-foreign-state-backed-companies" rel="bookmark">The EU Parliament steps up enforcement against foreign State-backed companies</a></strong> <p class="publication"><time pubdate="pubdate" datetime="2022-07-10T22:00:00Z">11 July 2022</time></p> <div class="crayon article-intro-107864 introduction entry-content"> <p>If you (i) receive some form of financial support from foreign (non-EU) governments, and (ii) have activities or are planning to acquire a business in the EU, then you will want to read on. <br class='autobr' /> Following political agreement among legislators, the European Union (EU) Foreign Subsidies Regulation (…)</p> </div> </article></div> <div class="item short"> <article class="entry article hentry"> <span class="authors"><span class="vcard author"><a class="url fn spip_in" href="en/authors/alain-ronzano">Alain Ronzano</a></span></span> <strong class="h6-like entry-title"><a href="en/review/issues/no-4-2022/alertes/direct-affectation-the-court-of-justice-of-the-european-union-annuls-the-order" rel="bookmark"><strong>Direct affectation:</strong> The Court of Justice of the European Union annuls the order of the General Court of the European Union declaring inadmissible the action brought by the applicant in the case of the measure in favour of large Danish slaughterhouses against the decision of the European Commission finding that no State aid was involved and refers the case back to the General Court for judgment on the merits (<em>Danske Slagtermestre</em>)</a></strong> <p class="publication"><time pubdate="pubdate" datetime="2022-06-29T22:00:00Z">30 June 2022</time></p> <div class="crayon article-intro-107297 introduction entry-content"> <p>On June 30, 2022, the Court of Justice of the European Union delivered its judgment in case C-99/21 (Danske Slagtermestre v. European Commission) on the admissibility of an action brought by competitors of the beneficiaries of aid measures in the context of the third hypothesis referred to in (…)</p> </div> </article></div> <div class="item short"> <article class="entry article hentry"> <span class="authors"><span class="vcard author"><a class="url fn spip_in" href="en/authors/alain-ronzano">Alain Ronzano</a></span></span> <strong class="h6-like entry-title"><a href="en/review/issues/no-3-2022/alertes/private-operator-the-general-court-of-the-european-union-dismissed-the-aid" rel="bookmark"><strong>Private operator:</strong> The General Court of the European Union dismissed the aid beneficiary’s action, holding that the European Commission had sufficient reliable and consistent evidence to consider that the guarantee premium was not in line with a market price in that a reasonable private creditor would not have provided guarantees on those terms (<em>Larko</em>)</a></strong> <p class="publication"><time pubdate="pubdate" datetime="2022-05-03T22:00:00Z">4 May 2022</time></p> <div class="crayon article-intro-106715 introduction entry-content"> <p>It is recalled that in a judgment issued on March 26, 2020 in case C-244/18 (Larko Geniki Metalleftiki kai Metallourgiki AE v. European Commission) the European Court of Justice reminded the European Court of First Instance that, when applying the private operator principle, the Commission must (…)</p> </div> </article></div> <div class="item short"> <article class="entry article hentry"> <span class="authors"><span class="vcard author"><a class="url fn spip_in" href="en/authors/raphael-vuitton">Raphaël Vuitton</a></span></span> <strong class="h6-like entry-title"><a href="en/review/issues/no-3-2022/chroniques/illegal-and-incompatible-aid-the-general-court-of-the-european-union-confirms" rel="bookmark"><strong>Illegal and incompatible aid</strong>: The General Court of the European Union confirms that the decision of the European Commission finding that a loan guarantee granted to a Greek public company active in the mining sector constituted State aid <em>(Larko)</em></a></strong> <p class="publication"><time pubdate="pubdate" datetime="2022-05-03T22:00:00Z">4 May 2022</time></p> <div class="crayon article-intro-108192 introduction entry-content"> <p>With the judgment under the heading, the saga of the Larko cases - well known to the readers of this column (see, ECJ, 9 November 2017, Commission v. Greece, C-481/16, comm. R Vuitton, Concurrences No. 1-2018, pp. 134-136. 136 ; GCEU, 1 February 2018, Larko v. Commission, T-412/24, EU:T:2018:55 (…)</p> </div> </article></div> <div class="item short"> <article class="entry article hentry"> <span class="authors"><span class="vcard author"><a class="url fn spip_in" href="en/authors/alain-ronzano">Alain Ronzano</a></span></span> <strong class="h6-like entry-title"><a href="en/review/issues/no-3-2022/alertes/illegal-aid-the-advocate-general-capeta-calls-on-the-court-of-justice-of-the" rel="bookmark"><strong>Illegal aid:</strong> The Advocate General Ćapeta calls on the Court of Justice of the European Union to set aside the judgment of the General Court of the European Union confirming the unlawfulness of the measures to promote the development of air transport in Sardinia by proposing his own interpretation of the applicability of the private operator test in a market economy (<em>Volotea ; EasyJet Airline</em>)</a></strong> <p class="publication"><time pubdate="pubdate" datetime="2022-04-06T22:00:00Z">7 April 2022</time></p> <div class="crayon article-intro-106208 introduction entry-content"> <p>On April 7, 2022, Advocate General Tamara Ćapeta presented her conclusions in Joined Cases C-331/20 (Volotea v. European Commission) and C-343/20 (easyJet Airline v. European Commission). <br class='autobr' /> In order to reduce the seasonality of air routes by increasing the frequency of flights during the (…)</p> </div> </article></div> <div class="item short"> <article class="entry article hentry"> <span class="authors"><span class="vcard author"><a class="url fn spip_in" href="en/authors/alain-ronzano">Alain Ronzano</a></span></span> <strong class="h6-like entry-title"><a href="en/review/issues/no-1-2022/alertes/incompatible-aid-the-general-court-of-the-european-union-following-a-correct" rel="bookmark"><strong>Incompatible aid:</strong> The General Court of the European Union, following a correct application of the private investor test, confirms the European Commission’s decision to classify the financing of an airport located in Poland as State aid incompatible with the internal market (<em>Gmina Miasto Gdynia, Port Lotniczy Gdynia Kosakowo</em>)</a></strong> <p class="publication"><time pubdate="pubdate" datetime="2021-12-20T23:00:00Z">21 December 2021</time></p> <div class="crayon article-intro-104200 introduction entry-content"> <p>On 21 December 2021, the General Court of the European Union delivered two judgments in the case T-209/15 (Gmina Kosakowo v European Commission) and, on referral, incase T-263/15 RENV (Gmina Miasto Gdynia and Port Lotniczy Gdynia Kosakowo v European Commission). <br class='autobr' /> By those two judgments, the (…)</p> </div> </article></div> <div class="item short"> <article class="entry article hentry"> <span class="authors"><span class="vcard author"><a class="url fn spip_in" href="en/authors/bruno-stromsky">Bruno Stromsky</a></span></span> <strong class="h6-like entry-title"><a href="en/review/issues/no-1-2022/chroniques/market-economy-operator-the-european-court-of-first-instance-confirms-that-an-en" rel="bookmark"><strong>Market economy operator:</strong> The General Court of the European Union confirms that an investment in a small airport whose long-term profitability is not established does not meet the test of a private operator in a market economy <em>(Gmina Miasto Gdynia, Port Lotniczy Gdynia Kosakowo)</em></a></strong> <p class="publication"><time pubdate="pubdate" datetime="2021-12-20T23:00:00Z">21 December 2021</time></p> <div class="crayon article-intro-105705 introduction entry-content"> <p>Two Polish municipalities have set up a wholly-owned company with the aim of converting the military airport of Gdynia-Oksywie in Pomerania, mainly for use by low-cost airlines. In financing this conversion, the municipalities claimed to have acted as private investors and provided studies to (…)</p> </div> </article></div> <div class="pagination more"><a id='pagination_articles_related' class='pagination_ancre'></a> <ul class="pager"> <li class="next"><a href='//en/dictionary/market-economy-investor?debut_articles_related=15#pagination_articles_related' class='lien_pagination more' rel='next'>More…</a></li> </ul></div> </div> </div> </div> </section> <section class="subsection subsection_articles related-section related-articles scrollable-anchor"> <h2 class="section__heading" id="related-articles"> <span>Articles</span> </h2> <div class="liste articles articles-related"> <div class="liste-items"> <div class='ajaxbloc' data-ajax-env='1yXTRhKtp6jRgLddn6e3o56tEqN+4GOSrSvqutLKpHHcJ9YDgeorSd2Ck3yq9df5OzQHkagToHqsdiZEMZ/TNFJVq7qElLZ5UvGad9BQ1DPWahylhsjWGRBXzP4CXD9zhBY+bMBwkjkH6Fd2cPb3Yp5qu6Km/JX/zrt74dE/jQa85avjjeXZumKuanYpvraOuzA6t3NOPdnpig1LNto4IEigJv34s/u6G2ijCswb4O0JykZ96RF8crXAXMv0nlMEHco8+iJuwWkpW9615Q95KXdY7bTnIMSH5NAjPolJOCGsWF+5sPATwXvVb8jW3gYDaf9NlwVQaF9mMr8slcECWL0y6eP5' data-origin="//en/dictionary/market-economy-investor"> <div class="item short"> <article class="entry article hentry"> <span class="authors"><span class="vcard author"><a class="url fn spip_in" href="en/auteurs/malak-sheth">Malak Sheth</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/auteurs/vasu-taneja">Vasu Taneja</a></span></span> <strong class="h6-like entry-title"><a href="en/review/issues/no-2-2025/international/india-competitive-neutrality-and-countering-the-possible-effects-of-reverse" rel="bookmark">India : Competitive neutrality and countering the possible effects of “reverse discrimination” against local investors</a></strong> <p class="publication"><time pubdate="pubdate" datetime="2025-01-31T23:00:00Z">February 2025</time></p> <div class="crayon article-intro-123521 introduction entry-content"> <p>I. Introduction <br class='autobr' /> 1. Foreign investments, particularly foreign direct investment (FDI), have since long been embraced by developing countries as the most important source of external finance, breathing vitality into their economies. Considering the importance of foreign investments and to (…)</p> </div> </article></div> <div class="item short"> <article class="entry article hentry"> <span class="authors"><span class="vcard author"><a class="url fn spip_in" href="en/authors/alain-alexis">Alain Alexis</a></span></span> <strong class="h6-like entry-title"><a href="en/review/issues/no-1-2023/legal-practice/control-of-foreign-subsidies-distorting-the-internal-market-main-amendments" rel="bookmark">Control of foreign subsidies distorting the internal market: Main amendments introduced by the co-legislators</a></strong> <p class="publication"><time pubdate="pubdate" datetime="2023-01-31T23:00:00Z">February 2023</time></p> <div class="crayon article-intro-111241 introduction entry-content"> <p>This is an updated version of Alain Alexis’ article titled: Foreign subsidy controls: The new European Commission proposal published in November 2021. <br class='autobr' /> The Regulation of the European Parliament and of the Council on foreign subsidies distorting the internal market will be applicable from 12 (…)</p> </div> </article></div> <div class="item short"> <article class="entry article hentry"> <span class="authors"><span class="vcard author"><a class="url fn spip_in" href="en/authors/alain-alexis">Alain Alexis</a></span></span> <strong class="h6-like entry-title"><a href="en/review/issues/no-4-2021/pratiques/foreign-subsidy-controls-the-new-european-commission-proposal" rel="bookmark">Foreign subsidy controls: The new European Commission proposal</a></strong> <p class="publication"><time pubdate="pubdate" datetime="2021-10-31T23:00:00Z">November 2021</time></p> <div class="crayon article-intro-102822 introduction entry-content"> <p>Responding to the requests from the European Parliament and the European Council, the Commission has proposed an ambitious regulation to control foreign subsidies distorting the internal market. The challenge is to find a balance between the positive effects of foreign investments in Europe, (…)</p> </div> </article></div> <div class="item short"> <article class="entry article hentry"> <span class="authors"><span class="vcard author"><a class="url fn spip_in" href="en/authors/leigh-hancher">Leigh Hancher</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/auteurs/tom-ottervanger">Tom Ottervanger</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/auteurs/piet-jan-slot">Piet Jan Slot</a></span></span> <strong class="h6-like entry-title"><a href="en/review/issues/no-3-2021/livres/eu-state-aids-ed-6-leigh-hancher-tom-ottervanger-and-piet-jan-slot" rel="bookmark">EU State Aids (ed.6), Leigh HANCHER, Tom OTTERVANGER and Piet Jan SLOT</a></strong> <p class="publication"><time pubdate="pubdate" datetime="2021-08-31T22:00:00Z">September 2021</time></p> <div class="crayon article-intro-114727 introduction entry-content"> <p>This section selects books on themes related to competition laws and economics. This compilation does not attempt to be exhaustive but rather a survey of themes important in the area. The survey usually covers publication over the last three months after publication of the latest issue of (…)</p> </div> </article></div> <div class="item short"> <article class="entry article hentry"> <span class="authors"><span class="vcard author"><a class="url fn spip_in" href="en/auteurs/kamala-dawar">Kamala Dawar</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/authors/george-lipimile">George Lipimile</a></span></span> <strong class="h6-like entry-title"><a href="en/review/issues/no-2-2020/international/africa-harmonising-competition-policy-under-the-afcfta-93472-en" rel="bookmark">Africa: Harmonising competition policy under the AfCFTA</a></strong> <p class="publication"><time pubdate="pubdate" datetime="2020-04-30T22:00:00Z">May 2020</time></p> <div class="crayon article-intro-93472 introduction entry-content"> <p>This article examines the process of harmonisation of competition law and policy in Africa in the context of economic integration under the African Continental Free Trade Agreement (AfCFTA). The article undertakes a comparative examination of the various stages of development of domestic (…)</p> </div> </article></div> <div class="item short"> <article class="entry article hentry"> <span class="authors"><span class="vcard author"><a class="url fn spip_in" href="en/authors/douglas-h-ginsburg">Douglas H. Ginsburg</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/auteurs/keith-klovers">Keith Klovers</a></span></span> <strong class="h6-like entry-title"><a href="en/review/issues/no-2-2018/articles/common-sense-about-common-ownership-86847-en" rel="bookmark">Common sense about common ownership</a></strong> <p class="publication"><time pubdate="pubdate" datetime="2018-04-30T22:00:00Z">May 2018</time></p> <div class="crayon article-intro-86847 introduction entry-content"> <p>Some scholars have argued that the phenomenon known as common ownership, particularly by large investment managers, is anticompetitive and prohibited by the U.S. antitrust laws. These proponents call for the divestiture of trillions of dollars of equities. We believe the argument for antitrust (…)</p> </div> </article></div> <div class="item short"> <article class="entry article hentry"> <span class="authors"><span class="vcard author"><a class="url fn spip_in" href="en/auteurs/robin-rivaton">Robin Rivaton</a></span></span> <strong class="h6-like entry-title"><a href="en/review/issues/no-2-2018/editorial/the-era-of-weak-competition" rel="bookmark">The era of weak competition</a></strong> <p class="publication"><time pubdate="pubdate" datetime="2018-04-30T22:00:00Z">May 2018</time></p> <div class="crayon article-intro-86768 introduction entry-content"> <p>Despite the fact that investments backed by venture capital funds have reached $ 164 billion globally, this figure hides a grimmer reality: Competition is weakening everywhere. Innovation thus does not result in as much business success as it did in the past and, conversely, the lack of (…)</p> </div> </article></div> <div class="item short"> <article class="entry article hentry"> <span class="authors"><span class="vcard author"><a class="url fn spip_in" href="en/authors/stephane-rodrigues">Stéphane Rodrigues</a></span></span> <strong class="h6-like entry-title"><a href="en/review/issues/no-1-2018/livres/research-handbook-on-state-aid-in-the-banking-sector-francois-charles-laprevote" rel="bookmark">Research Handbook on State Aid in the Banking Sector, François-Charles LAPRÉVOTE, Joanna GRAY and Francesco de CECCO (dir.)</a></strong> <p class="publication"><time pubdate="pubdate" datetime="2018-01-31T23:00:00Z">February 2018</time></p> <div class="crayon article-intro-86300 introduction entry-content"> <p>This section selects books on themes related to competition laws and economics. This compilation does not attempt to be exhaustive but rather a survey of themes important in the area. The survey usually covers publication over the last three months after publication of the latest issue of (…)</p> </div> </article></div> <div class="item short"> <article class="entry article hentry"> <span class="authors"><span class="vcard author"><a class="url fn spip_in" href="en/authors/stephane-rodrigues">Stéphane Rodrigues</a></span></span> <strong class="h6-like entry-title"><a href="en/review/issues/no-1-2012/livres/research-handbook-on-european-state-aid-law-erika-szyszczak-dir-42041" rel="bookmark">Research Handbook on European State Aid Law</a></strong> <p class="publication"><time pubdate="pubdate" datetime="2012-01-31T23:00:00Z">February 2012</time></p> <div class="crayon article-intro-42041 introduction entry-content"> <p>This timely new Handbook reflects on current issues that confront State aid law and policy in the EU. <br class='autobr' /> State aid was a neglected area of competition law until attempts to modernise it became central to the Lisbon process 2000 where the aim was to encourage ‘intelligent’ State aid by reducing (…)</p> </div> </article></div> <div class="item short"> <article class="entry article hentry"> <span class="authors"><span class="vcard author"><a class="url fn spip_in" href="en/authors/alain-ronzano">Alain Ronzano</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/authors/bastien-thomas">Bastien Thomas</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/authors/christelle-adjemian">Christelle Adjémian</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/authors/emmanuel-frot">Emmanuel Frot</a></span></span> <strong class="h6-like entry-title"><a href="en/review/issues/no-3-2011/revues/review-of-competition-journals-european-competition-law-review-world" rel="bookmark">Competition journals: April - June 2011</a></strong> <p class="publication"><time pubdate="pubdate" datetime="2011-08-31T22:00:00Z">September 2011</time></p> <div class="crayon article-intro-37076 introduction entry-content"> <p>This section of the review Concurrences selects articles and working papers on themes related to competition laws and economics, mainly, but not only, in the English and French languages. This compilation does not attempt to be exhaustive but rather a survey on themes important in the area. The (…)</p> </div> </article></div> <div class="item short"> <article class="entry article hentry"> <span class="authors"><span class="vcard author"><a class="url fn spip_in" href="en/authors/michael-karpenschif">Michaël Karpenschif</a></span></span> <strong class="h6-like entry-title"><a href="en/review/issues/no-3-2011/pratiques/state-aid-the-private-investor-in-market-economy-principle" rel="bookmark">State aid: The private investor in market economy principle</a></strong> <p class="publication"><time pubdate="pubdate" datetime="2011-08-31T22:00:00Z">September 2011</time></p> <div class="crayon article-intro-37425 introduction entry-content"> <p>The strengthening of the European control on member States economic behaviors with regard to State aid has led the Commission to build and implement a legal notion: the "private investor in market economy". The judges of the Union have deemed this investor to be “reasonable", "aware" or (…)</p> </div> </article></div> <div class="item short"> <article class="entry article hentry"> <span class="authors"><span class="vcard author"><a class="url fn spip_in" href="en/auteur/Florence-Legeay">Florence Legeay</a></span></span> <strong class="h6-like entry-title"><a href="en/review/issues/no-2-2011/livres/regimen-juridico-de-las-ayudas-publicas-al-transporte-aereo-en-la-union-europea-36162" rel="bookmark">Régimen jurídico de las ayudas públicas al transporte aéreo en la Unión Europea</a></strong> <p class="publication"><time pubdate="pubdate" datetime="2011-04-30T22:00:00Z">May 2011</time></p> <div class="crayon article-intro-36162 introduction entry-content"> <p>In a Spain in the midst of economic turmoil, where the crisis is inevitably accompanied by media announcements of public aid plans, the study of the legal regime of state aid under European Union law proposed by Juan Antonio Perez Rivarés is more than topical. If, as its title announces, the (…)</p> </div> </article></div> <div class="item short"> <article class="entry article hentry"> <span class="authors"><span class="vcard author"><a class="url fn spip_in" href="en/authors/laurence-idot">Laurence Idot</a></span></span> <strong class="h6-like entry-title"><a href="en/review/issues/no-1-2010/articles-en/Focus-on-mutations-of-State-aid" rel="bookmark">Focus on "mutations" of State aid law</a></strong> <p class="publication"><time pubdate="pubdate" datetime="2010-01-31T23:00:00Z">February 2010</time></p> <div class="crayon article-intro-30046 introduction entry-content"> <p>State aid policy, a specificity of European Union law, is at the heart of the current financial and economic crisis. Although such an evolution could not have been foreseen, the review of this policy, in the context of the Lisbon strategy, has been at the heart of the EU Competition Policy (…)</p> </div> </article></div> <div class="item short"> <article class="entry article hentry"> <span class="authors"><span class="vcard author"><a class="url fn spip_in" href="en/auteur/Beligh-Nabli">Beligh Nabli</a></span></span> <strong class="h6-like entry-title"><a href="en/review/issues/no-3-2005/livres/aides-d-etat-m-dony-c-smits-ed-12660" rel="bookmark">Aides d’Etat</a></strong> <p class="publication"><time pubdate="pubdate" datetime="2005-08-31T22:00:00Z">September 2005</time></p> <div class="crayon article-intro-12660 introduction entry-content"> <p>The book that caught our attention is soberly entitled "State Aid". It is the result of an international colloquium organised on 13 October 2004 by the Institute of European Studies of the Université libre de Bruxelles in collaboration with the Permanent Representation of Belgium to the EU. This (…)</p> </div> </article></div> </div> </div> </div> </section> <section class="subsection related-section related-articles scrollable-anchor"> <h2 class="section__heading" id="related-events"> <span>Events</span> </h2> <div class="liste articles articles-related"> <div class="liste-items"> <div class='ajaxbloc' data-ajax-env='1yXvRhW9uyjRg789gx4xFFeyuV48aCNxLLB1HMoQDNhcvybAm18qOjAwm9XzDYsqngaMJ7ddKqxCGGXTiEjxsBo/EXa/aKuPxFLYvJabc3XtpR8lhs9WmBPizcYFXD2kicg+bMdOnslqp/+Op0teUqhCO+lW/JXFkTvoiAR+6pIoN28SeFHqPZhSw+/BMR5SO3zZ4FzwfXbhhRpGJCttKIHduRkMpEeWgziM4Vh2HT0wEgt6OT37HrSuow5YCfrqpl5eYTl6fKGL04xwM8zp/9Xkj9ZNJ+/j3DYcHEEkUseu446Kwf7bwnu/L4b1hIg4mF8nQyqhcsndV9MT12LehiWrxu6NRMI9Tw==' data-origin="//en/dictionary/market-economy-investor"> <div class="item short"> <article class="entry article hentry"> <span class="authors"><span class="vcard author"><a class="url fn spip_in" href="en/authors/frederic-jenny">Frédéric Jenny</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/authors/jean-francois-bellis">Jean-François Bellis</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/auteurs/isabelle-van-damme">Isabelle Van Damme</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/authors/andreas-reindl">Andreas Reindl</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/auteurs/catherine-gordley">Catherine Gordley</a></span></span> <strong class="h6-like entry-title"><a href="en/events/the-eu-foreign-subsidies-regulation-book-launch-116924" rel="bookmark">The EU Foreign Subsidies Regulation Book Launch</a></strong> <p class="publication"><time pubdate="pubdate" datetime="2024-01-30T16:00:00Z">30 January 2024</time></p> <div class="crayon article-intro-116924 introduction entry-content"><p>The reception, organized by Concurrences, in partnership with Van Bael & Bellis, on the occasion of "<a href="https://www.concurrences.com/en/all-books/the-eu-foreign-subsidies-regulation">The EU Foreign Subsidies Regulation</a>” Book Launch, took place in Brussels on January 30th, 2024.</p></div> </article></div> <div class="item short"> <article class="entry article hentry"> <span class="authors"><span class="vcard author"><a class="url fn spip_in" href="en/auteur/Sean-Heather">Sean Heather</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/authors/eddy-de-smijter">Eddy de Smijter</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/authors/jacques-buhart">Jacques Buhart</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/authors/frederic-pradelles">Frédéric Pradelles</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/auteurs/hendrick-viane">Hendrick Viane</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/authors/stephane-dionnet">Stéphane Dionnet</a></span></span> <strong class="h6-like entry-title"><a href="en/events/eu-foreign-subsidies-a-us-perspective" rel="bookmark">EU Foreign Subsidies: A US perspective</a></strong> <p class="publication"><time pubdate="pubdate" datetime="2023-03-30T11:00:00Z">30 March 2023</time></p> <div class="crayon article-intro-111498 introduction entry-content"><p>The “EU Foreign Subsidies: A US Perspective” Conference organized by Concurrences in partnership with McDermott Will & Emery took place in Washington D.C on March 30th, 2023.</p></div> </article></div> <div class="item short"> <article class="entry article hentry"> <span class="authors"><span class="vcard author"><a class="url fn spip_in" href="en/auteurs/lise-damelet">Lise Damelet</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/authors/christof-schoser">Christof Schoser</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/authors/jerome-vidal">Jérôme Vidal</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/authors/victoria-godefrood-berra">Victoria Godefrood-Berra</a></span></span> <strong class="h6-like entry-title"><a href="en/events/foreign-subsidies-towards-enactment-of-the-eu-regulation" rel="bookmark">Foreign Subsidies: Towards Enactment of the EU Regulation</a></strong> <p class="publication"><time pubdate="pubdate" datetime="2022-09-20T13:30:00Z">20 September 2022</time></p> <div class="crayon article-intro-107854 introduction entry-content"><p>The “Foreign Subsidies: Towards Enactment of the EU Regulation” webinar organised by Concurrences, in partnership with FTPA, with <a href="en/auteurs/lise-damelet" class="spip_in">Lise Damelet</a> (Partner, FTPA, Paris), <a href="en/authors/victoria-godefrood-berra" class="spip_in">Victoria Godefrood-Berra</a> (Deputy Head of Competition & State aids Sector, Secrétariat Général des Affaires Européennes) and <a href="en/authors/christof-schoser" class="spip_in">Christof Schoser</a> (Head of Task Force Third-Country Subsidies, DG COMP).</p></div> </article></div> <div class="item short"> <article class="entry article hentry"> <span class="authors"><span class="vcard author"><a class="url fn spip_in" href="en/authors/richard-s-taffet">Richard S. Taffet</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/authors/james-a-keyte">James A. Keyte</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/auteurs/makan-delrahim">Makan Delrahim</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/auteur/rainer-schwabe">Rainer Schwabe</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/authors/nicole-kar">Nicole Kar</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/authors/elai-katz">Elai Katz</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/auteurs/graeme-brooks">Graeme Brooks</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/authors/scott-hemphill">Scott Hemphill</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/auteurs/michael-cragg">Michael Cragg</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/auteurs/psgillespie2012-gmail-com">Phillip Gillespie</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/auteurs/jon-r-roellke">Jon R. Roellke</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/auteur/jonathan-r-lutinski">Jonathan R. Lutinski</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/auteurs/dean-v-hoffman-jpmchase-com">Dean Hoffman</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/auteurs/d-scott-tucker">Scott Tucker</a></span></span> <strong class="h6-like entry-title"><a href="en/events/antitrust-in-the-financial-sector-hot-issues-global-perspectives-89252-en" rel="bookmark">Antitrust in the Financial Sector: Hot Issues & Global Perspectives</a></strong> <p class="publication"><time pubdate="pubdate" datetime="2019-05-01T12:20:00Z">1 May 2019</time></p> <div class="crayon article-intro-89252 introduction entry-content"><p>Annual Concurrences + Morgan Lewis conference held at Fordham University Law School with the support of The Brattle Group, Cornerstone Research, and Linklaters.</p></div> </article></div> <div class="item short"> <article class="entry article hentry"> <span class="authors"><span class="vcard author"><a class="url fn spip_in" href="en/authors/alec-j-burnside">Alec J. Burnside</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/auteur/alexander-lunshof">Alexander Lunshof</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/auteurs/amandine-jacquemot">Amandine Jacquemot</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/auteurs/straetemans">Anneleen Straetemans</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/auteurs/birthe-panhans">Birthe Panhans</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/authors/eleni-gouliou">Eleni Gouliou</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/authors/elizabeth-kraus">Elizabeth Kraus</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/authors/emmanuel-frot">Emmanuel Frot</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/authors/esther-bitton">Esther Bitton</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/authors/etienne-chantrel">Étienne Chantrel</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/auteur/guillaume-gournay">Guillaume Gournay</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/authors/helene-millenaar">Helene Millenaar</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/authors/isabelle-de-silva">Isabelle De Silva</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/authors/james-mancini">James Mancini</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/authors/laurence-bary">Laurence Bary</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/authors/laurent-flochel">Laurent Flochel</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/authors/melanie-thill-tayara">Mélanie Thill-Tayara</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/authors/michael-l-weiner">Michael L. Weiner</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/auteur/paul-t-denis">Paul T. Denis</a></span></span> <strong class="h6-like entry-title"><a href="en/events/6th-global-merger-control-conference" rel="bookmark">6th Global Merger Control Conference</a></strong> <p class="publication"><time pubdate="pubdate" datetime="2018-11-30T07:30:00Z">30 November 2018</time></p> <div class="crayon article-intro-87294 introduction entry-content"><p>This 6th edition of the Global Merger Control half-day conference was organized by Concurrences Review and Dechert, in partnership with Analysis Group, Compass Lexecon and CRA.</p></div> </article></div> <div class="item short"> <article class="entry article hentry"> <span class="authors"><span class="vcard author"><a class="url fn spip_in" href="en/authors/david-henry">David Henry</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/authors/jacques-buhart">Jacques Buhart</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/authors/james-mancini">James Mancini</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/auteurs/marc-van-audenrode">Marc Van Audenrode</a></span></span> <strong class="h6-like entry-title"><a href="en/events/common-shareholdings-what-are-the-antitrust-issues" rel="bookmark">Common shareholdings: What are the antitrust issues?</a></strong> <p class="publication"><time pubdate="pubdate" datetime="2018-09-26T10:00:00Z">26 September 2018</time></p> <div class="crayon article-intro-87478 introduction entry-content"><p>Law & Economics workshop organised by Concurrences Review with James Mancini (OECD), in partnership McDermott Will & Emery and Analysis Group.</p></div> </article></div> <div class="item short"> <article class="entry article hentry"> <span class="authors"><span class="vcard author"><a class="url fn spip_in" href="en/authors/bertrand-jehanno">Bertrand Jéhanno</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/authors/olivier-sautel">Olivier Sautel</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/authors/penelope-papandropoulos">Penelope Papandropoulos</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/authors/stephane-hautbourg">Stéphane Hautbourg</a></span></span> <strong class="h6-like entry-title"><a href="en/events/state-aid-and-economic-analysis-towards-an-effect-based-approach" rel="bookmark">State aid and economic analysis Towards an effect based approach?</a></strong> <p class="publication"><time pubdate="pubdate" datetime="2016-05-11T10:00:00Z">11 May 2016</time></p> <div class="crayon article-intro-83042 introduction entry-content"><p>Law & Economics Workshop organized by Concurrences Review in partnership with Gide Loyrette Nouel and Microeconomix.</p></div> </article></div> <div class="item short"> <article class="entry article hentry"> <span class="authors"><span class="vcard author"><a class="url fn spip_in" href="en/authors/frederic-jenny">Frédéric Jenny</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/authors/sylvain-justier">Sylvain Justier</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/authors/thibaud-verge">Thibaud Vergé</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/authors/umberto-berkani">Umberto Berkani</a></span></span> <strong class="h6-like entry-title"><a href="en/events/les-strategies-d-eviction-non-tarifaires-refus-et-discriminations-a-l-acces-83012-en" rel="bookmark">Les stratégies d’éviction non tarifaires : refus et discriminations à l’accès, exclusivité </a></strong> <p class="publication"><time pubdate="pubdate" datetime="2016-02-09T11:00:00Z">9 February 2016</time></p> <div class="crayon article-intro-83012 introduction entry-content"><p>Law & Economics Workshop with Frédéric Jenny (OECD), in partnership with the Autorité de la concurrence, Magenta and Charles River Associate.</p></div> </article></div> <div class="item short"> <article class="entry article hentry"> <span class="authors"><span class="vcard author"><a class="url fn spip_in" href="en/authors/francesco-martucci">Francesco Martucci</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/authors/leo-flynn">Leo Flynn</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/authors/michel-debroux">Michel Debroux</a></span></span> <strong class="h6-like entry-title"><a href="en/events/the-private-investor-principle-in-the-recent-state-aid-case-law" rel="bookmark">The private investor principle in the recent State aid case law</a></strong> <p class="publication"><time pubdate="pubdate" datetime="2015-03-17T11:00:00Z">17 March 2015</time></p> <div class="crayon article-intro-82936 introduction entry-content"><p>Workshop organized by Concurrences in partnership with Reed Smith.</p></div> </article></div> <div class="item short"> <article class="entry article hentry"> <span class="authors"><span class="vcard author"><a class="url fn spip_in" href="en/authors/francesco-martucci">Francesco Martucci</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/authors/michel-debroux">Michel Debroux</a></span></span> <strong class="h6-like entry-title"><a href="en/events/upcoming-events/the-private-investor-in-state-aid-cases" rel="bookmark"><strong>The private investor in State aid Cases</strong></a></strong> <p class="publication"><time pubdate="pubdate" datetime="2015-02-13T05:58:40Z">13 February 2015</time></p> <div class="crayon article-intro-71620 introduction entry-content"><p>Leo Flynn <br/>Michel Debroux <br/>Francesco Martucci</p></div> </article></div> </div> </div> </div> </section> </div> <aside class="section__aside side-col"> <div class="miniplan miniplan_related sticky-top" id="related-index"> <ul class="nav nav-list"> <li><a href="//en/dictionary/market-economy-investor#related-jurisprudence" data-target="#related-jurisprudence">Case Comments</a></li> <li><a href="//en/dictionary/market-economy-investor#related-articles" data-target="#related-articles">Articles</a></li> <li><a href="//en/dictionary/market-economy-investor#related-events" data-target="#related-events">Events</a></li> </ul> </div> </aside> </div> </section> <div class="index-overlay collapse" id="index"> <span class="arrow-top"></span> <button class="close">×</button> <div class="glossaire-index"> <div class="main"> <div class="index"> <a class="lettre" href="//en/dictionary/market-economy-investor#a" data-anchor="#a">a</a> <a class="lettre" href="//en/dictionary/market-economy-investor#b" data-anchor="#b">b</a> <a class="lettre" href="//en/dictionary/market-economy-investor#c" data-anchor="#c">c</a> <a class="lettre" href="//en/dictionary/market-economy-investor#d" data-anchor="#d">d</a> <a class="lettre" href="//en/dictionary/market-economy-investor#e" data-anchor="#e">e</a> <a class="lettre" href="//en/dictionary/market-economy-investor#f" data-anchor="#f">f</a> <a class="lettre" href="//en/dictionary/market-economy-investor#g" data-anchor="#g">g</a> <a class="lettre" href="//en/dictionary/market-economy-investor#h" data-anchor="#h">h</a> <a class="lettre" href="//en/dictionary/market-economy-investor#i" data-anchor="#i">i</a> <a class="lettre" href="//en/dictionary/market-economy-investor#j" data-anchor="#j">j</a> <a class="lettre" href="//en/dictionary/market-economy-investor#k" data-anchor="#k">k</a> <a class="lettre" href="//en/dictionary/market-economy-investor#l" data-anchor="#l">l</a> <a class="lettre" href="//en/dictionary/market-economy-investor#m" data-anchor="#m">m</a> <a class="lettre" href="//en/dictionary/market-economy-investor#n" data-anchor="#n">n</a> <a class="lettre" href="//en/dictionary/market-economy-investor#o" data-anchor="#o">o</a> <a class="lettre" href="//en/dictionary/market-economy-investor#p" data-anchor="#p">p</a> <a class="lettre" href="//en/dictionary/market-economy-investor#r" data-anchor="#r">r</a> <a class="lettre" href="//en/dictionary/market-economy-investor#s" data-anchor="#s">s</a> <a class="lettre" href="//en/dictionary/market-economy-investor#t" data-anchor="#t">t</a> <a class="lettre" href="//en/dictionary/market-economy-investor#u" data-anchor="#u">u</a> <a class="lettre" href="//en/dictionary/market-economy-investor#v" data-anchor="#v">v</a> <a class="lettre" href="//en/dictionary/market-economy-investor#w" data-anchor="#w">w</a> </div> </div> <div class="row entree" id="a"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">a</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/absolute-territorial-protection">Absolute territorial protection </a> <span class="sep">•</span> <a href="en/dictionary/abuse-of-dominant-position-en">Abuse of dominant position</a> <span class="sep">•</span> <a href="en/dictionary/abuse-of-economic-dependence">Abuse of economic dependence</a> <span class="sep">•</span> <a href="en/dictionary/access-to-the-file-en">Access to the file</a> <span class="sep">•</span> <a href="en/dictionary/actual-competitor">Actual competitor </a> <span class="sep">•</span> <a href="en/dictionary/administered-prices">Administered prices</a> <span class="sep">•</span> <a href="en/dictionary/advisory-committee-118302">Advisory committee</a> <span class="sep">•</span> <a href="en/dictionary/agent-en">Agent</a> <span class="sep">•</span> <a href="en/dictionary/agreement-notion-en">Agreement (notion)</a> <span class="sep">•</span> <a href="en/dictionary/ai-collusion-algorithm">AI Collusion (Algorithm)</a> <span class="sep">•</span> <a href="en/dictionary/AKZO-Procedure">AKZO Procedure </a> <span class="sep">•</span> <a href="en/dictionary/amicus-curiae">Amicus curiae</a> <span class="sep">•</span> <a href="en/dictionary/ancillary-restraints">Ancillary restraints </a> <span class="sep">•</span> <a href="en/dictionary/annulment">Annulment</a> <span class="sep">•</span> <a href="en/dictionary/anticompetitive-market-distortions">Anticompetitive Market Distortions</a> <span class="sep">•</span> <a href="en/dictionary/anticompetitive-object-or-effect-en">Anticompetitive object or effect</a> <span class="sep">•</span> <a href="en/dictionary/anticompetitive-practices">Anticompetitive practices</a> <span class="sep">•</span> <a href="en/dictionary/Antitrust">Antitrust</a> <span class="sep">•</span> <a href="en/dictionary/applicable-law">Applicable law</a> <span class="sep">•</span> <a href="en/dictionary/arbitration">Arbitration</a> <span class="sep">•</span> <a href="en/dictionary/article-11-letter">Article 11 letter </a> <span class="sep">•</span> <a href="en/dictionary/artificial-intelligence">Artificial Intelligence </a> <span class="sep">•</span> <a href="en/dictionary/aec-as-efficient-competitor-principle-and-test">As-Efficient Competitor (AEC)</a> </div> </div> </div> <div class="row entree" id="b"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">b</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/barriers-to-entry-en">Barriers to entry</a> <span class="sep">•</span> <a href="en/dictionary/bertrand-nash-equilibrium">Bertrand (Nash) equilibrium</a> <span class="sep">•</span> <a href="en/dictionary/bid-rigging">Bid rigging</a> <span class="sep">•</span> <a href="en/dictionary/block-exemption-regulation">Block exemption (Regulation) </a> <span class="sep">•</span> <a href="en/dictionary/boycott">Boycott</a> <span class="sep">•</span> <a href="en/dictionary/brand-competition-en">Brand competition</a> <span class="sep">•</span> <a href="en/dictionary/bundling">Bundling</a> <span class="sep">•</span> <a href="en/dictionary/burden-of-proof">Burden of proof</a> <span class="sep">•</span> <a href="en/dictionary/buyer-power">Buyer power </a> </div> </div> </div> <div class="row entree" id="c"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">c</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/cartel">Cartel </a> <span class="sep">•</span> <a href="en/dictionary/clearance-phase-ii-merger">Clearance phase II (merger)</a> <span class="sep">•</span> <a href="en/dictionary/collecting-society">Collecting society </a> <span class="sep">•</span> <a href="en/dictionary/collective-dominance">Collective dominance</a> <span class="sep">•</span> <a href="en/dictionary/collective-redress-class-action">Collective redress (class action)</a> <span class="sep">•</span> <a href="en/dictionary/comity">Comity </a> <span class="sep">•</span> <a href="en/dictionary/commission-communication">Commission communication</a> <span class="sep">•</span> <a href="en/dictionary/competence">Competence </a> <span class="sep">•</span> <a href="en/dictionary/competition-policy-89181">Competition policy</a> <span class="sep">•</span> <a href="en/dictionary/complaint">Complaint </a> <span class="sep">•</span> <a href="en/dictionary/Compliance-programme">Compliance programme </a> <span class="sep">•</span> <a href="en/dictionary/compulsory-license">Compulsory license</a> <span class="sep">•</span> <a href="en/dictionary/concentration-indexes-en">Concentration indexes</a> <span class="sep">•</span> <a href="en/dictionary/concerted-practices-en">Concerted practices</a> <span class="sep">•</span> <a href="en/dictionary/concession-86056">Concession</a> <span class="sep">•</span> <a href="en/dictionary/concurrent-jurisdiction">Concurrent jurisdiction</a> <span class="sep">•</span> <a href="en/dictionary/Consortium-12192">Consortium </a> <span class="sep">•</span> <a href="en/dictionary/consumer-protection">Consumer protection</a> <span class="sep">•</span> <a href="en/dictionary/consumers-associations-en">Consumers’ associations</a> <span class="sep">•</span> <a href="en/dictionary/control-change">Control (change)</a> <span class="sep">•</span> <a href="en/dictionary/control-notion">Control (notion)</a> <span class="sep">•</span> <a href="en/dictionary/cooperation-between-competition-authorities-en">Cooperation between competition authorities</a> <span class="sep">•</span> <a href="en/dictionary/coordinated-effects">Coordinated effects</a> <span class="sep">•</span> <a href="en/dictionary/copyright">Copyright</a> <span class="sep">•</span> <a href="en/dictionary/corruption">Corruption</a> <span class="sep">•</span> <a href="en/dictionary/cost-based-access">Cost-based access</a> <span class="sep">•</span> <a href="en/dictionary/cournot-nash-equilibrium">Cournot (Nash) equilibrium</a> <span class="sep">•</span> <a href="en/dictionary/criminal-sanctions">Criminal sanctions</a> <span class="sep">•</span> <a href="en/dictionary/cross-subsidisation">Cross subsidisation </a> </div> </div> </div> <div class="row entree" id="d"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">d</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/damages">Damages</a> <span class="sep">•</span> <a href="en/dictionary/de-minimis-notice">De minimis notice</a> <span class="sep">•</span> <a href="en/dictionary/digital-markets-act">Digital Markets Act</a> <span class="sep">•</span> <a href="en/dictionary/direct-effect">Direct effect</a> <span class="sep">•</span> <a href="en/dictionary/discriminatory-practices">Discriminatory practices</a> <span class="sep">•</span> <a href="en/dictionary/distribution-agreement">Distribution agreement</a> <span class="sep">•</span> <a href="en/dictionary/divestiture">Divestiture</a> <span class="sep">•</span> <a href="en/dictionary/dominance-notion">Dominance (notion)</a> <span class="sep">•</span> <a href="en/dictionary/downstream-market-117440">Downstream market</a> </div> </div> </div> <div class="row entree" id="e"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">e</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/echr">ECHR</a> <span class="sep">•</span> <a href="en/dictionary/economic-analysis">Economic analysis</a> <span class="sep">•</span> <a href="en/dictionary/economic-efficiency">Economic efficiency</a> <span class="sep">•</span> <a href="en/dictionary/economies-of-scale">Economies of scale </a> <span class="sep">•</span> <a href="en/dictionary/ecosystem-failures">Ecosystem Failures</a> <span class="sep">•</span> <a href="en/dictionary/effect-on-trade-between-member-states">Effect on trade between Member States</a> <span class="sep">•</span> <a href="en/dictionary/effective-judicial-protection">Effective judicial protection</a> <span class="sep">•</span> <a href="en/dictionary/effects-doctrine-118100">Effects doctrine</a> <span class="sep">•</span> <a href="en/dictionary/efta-surveillance-authority-esa-court">EFTA Surveillance Authority (ESA) & Court </a> <span class="sep">•</span> <a href="en/dictionary/environmental-protection-en">Environmental protection</a> <span class="sep">•</span> <a href="en/dictionary/error-costs-108946">Error costs</a> <span class="sep">•</span> <a href="en/dictionary/essential-facility">Essential facility</a> <span class="sep">•</span> <a href="en/dictionary/european-competition-network-ecn-en">European Competition Network (ECN)</a> <span class="sep">•</span> <a href="en/dictionary/excessive-prices-en">Excessive prices</a> <span class="sep">•</span> <a href="en/dictionary/exchange-of-information">Exchanges of information</a> <span class="sep">•</span> <a href="en/dictionary/exclusionary-practice">Exclusionary practice </a> <span class="sep">•</span> <a href="en/dictionary/Exclusive-distribution-12218">Exclusive distribution </a> <span class="sep">•</span> <a href="en/dictionary/exclusive-purchasing-en">Exclusive purchasing agreement</a> <span class="sep">•</span> <a href="en/dictionary/exclusive-right-art-106-tfeu">Exclusive right (Art. 106 TFEU)</a> <span class="sep">•</span> <a href="en/dictionary/exclusivity-clause">Exclusivity clause</a> <span class="sep">•</span> <a href="en/dictionary/Exhaustion">Exhaustion </a> <span class="sep">•</span> <a href="en/dictionary/Extra-territoriality">Extra-territoriality</a> </div> </div> </div> <div class="row entree" id="f"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">f</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/Failing-firm-defence">Failing firm defence</a> <span class="sep">•</span> <a href="en/dictionary/fidelity-rebates">Fidelity rebates</a> <span class="sep">•</span> <a href="en/dictionary/Fine">Fine</a> <span class="sep">•</span> <a href="en/dictionary/fintech">Fintech</a> <span class="sep">•</span> <a href="en/dictionary/foreclosure-117887">Foreclosure</a> <span class="sep">•</span> <a href="en/dictionary/foreign-direct-investment-fdi">Foreign direct investment (FDI)</a> <span class="sep">•</span> <a href="en/dictionary/foreign-subsidies">Foreign Subsidies</a> <span class="sep">•</span> <a href="en/dictionary/form-co">Form CO (EU) </a> <span class="sep">•</span> <a href="en/dictionary/frand">FRAND</a> <span class="sep">•</span> <a href="en/dictionary/Free-riding">Free riding </a> </div> </div> </div> <div class="row entree" id="g"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">g</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/geographic-market">Geographic market</a> <span class="sep">•</span> <a href="en/dictionary/corporate-group">Group of undertakings</a> <span class="sep">•</span> <a href="en/dictionary/group-purchasing-organization">Group purchasing organization</a> <span class="sep">•</span> <a href="en/dictionary/guidelines-119080">Guidelines</a> <span class="sep">•</span> <a href="en/dictionary/gun-jumping">Gun jumping</a> </div> </div> </div> <div class="row entree" id="h"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">h</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/hard-core-restrictions">Hard core restrictions</a> <span class="sep">•</span> <a href="en/dictionary/Hearing-officer">Hearing officer </a> <span class="sep">•</span> <a href="en/dictionary/horizontal-agreement">Horizontal cooperation agreement</a> <span class="sep">•</span> <a href="en/dictionary/hsr-filing-us-108854">HSR Filing (US)</a> </div> </div> </div> <div class="row entree" id="i"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">i</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/independence-and-impartiality">Independence and impartiality</a> <span class="sep">•</span> <a href="en/dictionary/individual-exemption-86377">Individual exemption</a> <span class="sep">•</span> <a href="en/dictionary/industrial-policy">Industrial policy</a> <span class="sep">•</span> <a href="en/dictionary/intellectual-property-right-en">Intellectual property right</a> <span class="sep">•</span> <a href="en/dictionary/inter-brand-competition">Inter-brand competition </a> <span class="sep">•</span> <a href="en/dictionary/Interim-measures">Interim measures </a> <span class="sep">•</span> <a href="en/dictionary/international-co-operation">International co-operation </a> <span class="sep">•</span> <a href="en/dictionary/international-competition-network-icn">International competition network (ICN) </a> <span class="sep">•</span> <a href="en/dictionary/investigations-inquiries-en">Investigations / inquiries</a> </div> </div> </div> <div class="row entree" id="j"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">j</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/judicial-review">Judicial review</a> </div> </div> </div> <div class="row entree" id="k"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">k</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/Know-how">Know-how </a> </div> </div> </div> <div class="row entree" id="l"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">l</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/legal-privilege">Legal privilege</a> <span class="sep">•</span> <a href="en/dictionary/Leniency-programme">Leniency</a> <span class="sep">•</span> <a href="en/dictionary/lerner-index">Lerner index</a> <span class="sep">•</span> <a href="en/dictionary/letter-of-formal-notice-118055">Letter of formal notice </a> <span class="sep">•</span> <a href="en/dictionary/licensing">Licensing</a> <span class="sep">•</span> <a href="en/dictionary/limitation-period-119083">Limitation Period </a> </div> </div> </div> <div class="row entree" id="m"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">m</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/margin-squeeze">Margin squeeze</a> <span class="sep">•</span> <a href="en/dictionary/marginal-costs">Marginal costs </a> <span class="sep">•</span> <a href="en/dictionary/market-economy-investor">Market economy investor</a> <span class="sep">•</span> <a href="en/dictionary/market-power">Market power</a> <span class="sep">•</span> <a href="en/dictionary/market-share">Market share </a> <span class="sep">•</span> <a href="en/dictionary/media-pluralism">Media pluralism</a> <span class="sep">•</span> <a href="en/dictionary/merger-notion-12318-en">Merger (notion)</a> <span class="sep">•</span> <a href="en/dictionary/merger-prohibition">Merger (prohibition)</a> <span class="sep">•</span> <a href="en/dictionary/merger-withdrawal-118046">Merger (withdrawal)</a> <span class="sep">•</span> <a href="en/dictionary/Merger-control-procedure">Merger control procedure </a> <span class="sep">•</span> <a href="en/dictionary/merger-remedies-100323">Merger remedies</a> <span class="sep">•</span> <a href="en/dictionary/minority-shareholdings-89176">Minority shareholdings</a> <span class="sep">•</span> <a href="en/dictionary/misinformation">Misinformation</a> <span class="sep">•</span> <a href="en/dictionary/mobility-barriers-117741">Mobility Barriers</a> <span class="sep">•</span> <a href="en/dictionary/Monopoly">Monopoly </a> </div> </div> </div> <div class="row entree" id="n"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">n</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/ne-bis-in-idem-86490">Ne bis in idem</a> <span class="sep">•</span> <a href="en/dictionary/negative-clearance-118047">Negative clearance</a> <span class="sep">•</span> <a href="en/dictionary/Network-effect">Network effect </a> <span class="sep">•</span> <a href="en/dictionary/non-compete-obligation-12156-en">Non-compete obligation </a> <span class="sep">•</span> <a href="en/dictionary/non-horizontal-mergers">Non-Horizontal Mergers </a> <span class="sep">•</span> <a href="en/dictionary/notification-12310">Notification</a> <span class="sep">•</span> <a href="en/dictionary/nullity">Nullity </a> </div> </div> </div> <div class="row entree" id="o"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">o</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/oligopoly">Oligopoly </a> <span class="sep">•</span> <a href="en/dictionary/online-platforms">Online Platforms</a> </div> </div> </div> <div class="row entree" id="p"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">p</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/parallel-imports-parallel-trade-en">Parallel imports (parallel trade)</a> <span class="sep">•</span> <a href="en/dictionary/passing-on-en">Passing-on</a> <span class="sep">•</span> <a href="en/dictionary/Passive-sales">Passive sales </a> <span class="sep">•</span> <a href="en/dictionary/patents">Patents</a> <span class="sep">•</span> <a href="en/dictionary/pay-for-delay">Pay-for-delay</a> <span class="sep">•</span> <a href="en/dictionary/periodic-penalty-payment">Periodic penalty payment</a> <span class="sep">•</span> <a href="en/dictionary/potential-competition">Potential competition </a> <span class="sep">•</span> <a href="en/dictionary/predatory-pricing">Predatory pricing</a> <span class="sep">•</span> <a href="en/dictionary/preliminary-rulings-art-267-tfue">Preliminary ruling (Art. 267 TFUE) </a> <span class="sep">•</span> <a href="en/dictionary/price-discrimination-en">Price discrimination </a> <span class="sep">•</span> <a href="en/dictionary/price-leadership">Price leadership</a> <span class="sep">•</span> <a href="en/dictionary/price-signaling">Price signalling</a> <span class="sep">•</span> <a href="en/dictionary/price-fixing-agreement">Price-fixing agreement</a> <span class="sep">•</span> <a href="en/dictionary/prices-en">Prices</a> <span class="sep">•</span> <a href="en/dictionary/principle-of-equal-treatment">Principle of equal treatment</a> <span class="sep">•</span> <a href="en/dictionary/principle-of-equivalence">Principle of equivalence</a> <span class="sep">•</span> <a href="en/dictionary/principle-of-proportionality">Principle of proportionality</a> <span class="sep">•</span> <a href="en/dictionary/privacy-and-data-protection">Privacy and data protection</a> <span class="sep">•</span> <a href="en/dictionary/private-enforcement">Private enforcement</a> <span class="sep">•</span> <a href="en/dictionary/privatization-en">Privatization</a> <span class="sep">•</span> <a href="en/dictionary/procedural-autonomy">Procedural autonomy</a> <span class="sep">•</span> <a href="en/dictionary/professional-association-86373-en">Professional association</a> <span class="sep">•</span> <a href="en/dictionary/public-procurement">Public procurement</a> <span class="sep">•</span> <a href="en/dictionary/Public-undertaking">Public undertaking</a> </div> </div> </div> <div class="row entree" id="r"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">r</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/r-d-agreement">R&D agreement</a> <span class="sep">•</span> <a href="en/dictionary/case-referral-system-mergers">Referral (merger)</a> <span class="sep">•</span> <a href="en/dictionary/refusal-to-deal">Refusal to deal</a> <span class="sep">•</span> <a href="en/dictionary/the-registry-of-the-general-court-of-the-european-union">Registry of the General Court of the European Union</a> <span class="sep">•</span> <a href="en/dictionary/Relevant-market">Relevant market</a> <span class="sep">•</span> <a href="en/dictionary/remedies-antitrust-en">Remedies (antitrust)</a> <span class="sep">•</span> <a href="en/dictionary/request-for-information">Request for information</a> <span class="sep">•</span> <a href="en/dictionary/resale-below-cost-en">Resale below cost </a> <span class="sep">•</span> <a href="en/dictionary/resale-price-maintenance-rpm">Resale price maintenance (RPM)</a> <span class="sep">•</span> <a href="en/dictionary/restriction-on-exportation">Restriction on exportation </a> <span class="sep">•</span> <a href="en/dictionary/rule-of-reason">Rule of reason</a> </div> </div> </div> <div class="row entree" id="s"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">s</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/sunk-costs-117836"> Sunk Costs </a> <span class="sep">•</span> <a href="en/dictionary/sector-inquiry">Sector inquiry</a> <span class="sep">•</span> <a href="en/dictionary/selective-distribution">Selective distribution </a> <span class="sep">•</span> <a href="en/dictionary/self-preference-111802">Self-Preference</a> <span class="sep">•</span> <a href="en/dictionary/Services-of-general-economic">Services of general economic interest </a> <span class="sep">•</span> <a href="en/dictionary/Single-branding">Single branding </a> <span class="sep">•</span> <a href="en/dictionary/sole-control">Sole control</a> <span class="sep">•</span> <a href="en/dictionary/specialization-agreements">Specialization agreements </a> <span class="sep">•</span> <a href="en/dictionary/Spill-over-effects">Spill-over effects </a> <span class="sep">•</span> <a href="en/dictionary/standard-essential-patent-sep">Standard-Essential Patent (SEP)</a> <span class="sep">•</span> <a href="en/dictionary/state-action-defense">State action defence</a> <span class="sep">•</span> <a href="en/dictionary/state-aid-compatibility">State aid (compatibility)</a> <span class="sep">•</span> <a href="en/dictionary/state-aid-existing-aid">State aid (existing aid) </a> <span class="sep">•</span> <a href="en/dictionary/state-aid-notification-en">State aid (notification)</a> <span class="sep">•</span> <a href="en/dictionary/state-aid">State aid (notion)</a> <span class="sep">•</span> <a href="en/dictionary/state-aid-recovery">State aid (recovery) </a> <span class="sep">•</span> <a href="en/dictionary/state-aid-unlawful-aid">State aid (unlawful aid) </a> <span class="sep">•</span> <a href="en/dictionary/State-measure">State measure </a> <span class="sep">•</span> <a href="en/dictionary/Statement-of-objections-SO">Statement of objections (SO) </a> <span class="sep">•</span> <a href="en/dictionary/Substitutability">Substitutability </a> <span class="sep">•</span> <a href="en/dictionary/sustainability">Sustainability</a> <span class="sep">•</span> <a href="en/dictionary/switching-costs">Switching Costs</a> </div> </div> </div> <div class="row entree" id="t"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">t</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/technology-transfer">Technology transfer</a> <span class="sep">•</span> <a href="en/dictionary/test-siec-merger-en">Test SIEC (merger)</a> <span class="sep">•</span> <a href="en/dictionary/merger-slc-src-sdc-tests">Test SLC (merger)</a> <span class="sep">•</span> <a href="en/dictionary/tipping">Tipping</a> <span class="sep">•</span> <a href="en/dictionary/business-secrets">Trade Secrets</a> <span class="sep">•</span> <a href="en/dictionary/trademark">Trademark</a> <span class="sep">•</span> <a href="en/dictionary/trustee-mergers-en">Trustee (mergers)</a> <span class="sep">•</span> <a href="en/dictionary/turnover-threshold-merger">Turnover threshold (merger)</a> <span class="sep">•</span> <a href="en/dictionary/two-sided-market">Two-sided market</a> </div> </div> </div> <div class="row entree" id="u"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">u</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/undertaking-notion">Undertaking (notion)</a> <span class="sep">•</span> <a href="en/dictionary/unfair-competition">Unfair competition</a> <span class="sep">•</span> <a href="en/dictionary/universal-service-118054">Universal Service</a> <span class="sep">•</span> <a href="en/dictionary/upstream-market">Upstream market </a> </div> </div> </div> <div class="row entree" id="v"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">v</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/variable-costs">Variable costs </a> <span class="sep">•</span> <a href="en/dictionary/Vertical-agreement">Vertical agreement</a> <span class="sep">•</span> <a href="en/dictionary/vertical-restraints-or-restrictions">Vertical restraints (or restrictions)</a> </div> </div> </div> <div class="row entree" id="w"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">w</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/White-clause">White clause</a> <span class="sep">•</span> <a href="en/dictionary/withdrawal-of-the-benefit-of-a-block-exemption">Withdrawal (of the benefit of a block exemption)</a> </div> </div> </div> </div> </div> </article> <script type="text/javascript"> jQuery(function(){ // hack on appelle 1 scrollspy sur body et 1 sur window pour pas les melanger jQuery(window).scrollspy({ target: 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