Citizendia

Competition law
Basic concepts
Anti-competitive practices
Laws and doctrines

United States

Europe

  • European Community
    competition law
  • Irish Competition Law
  • Competition Act 1998 (U. Competition law history refers to attempts by governments to regulate Competitive markets for goods and services leading up to the modern competition or Antitrust The term "monopolization" refers to an offense under Section 2 of the American Sherman Antitrust Act, passed in 1890 In Economics and Business ethics, a coercive monopoly is a business concern that prohibits competitors from entering the field with the natural result being that Natural monopoly is a term used in Economics to refer to two different things In Economics and especially in the theory of Competition, barriers to entry are obstacles in the path of a firm which wants to enter a given Market In Economics, market power is the ability of a firm to alter the Market price of a good or service In Competition law, before deciding whether companies have significant Market power which would justify government intervention the test of Small but Significant and Non-transitory In Competition law the Relevant market defines the market in which one or more goods compete Merger control refers to the procedure of reviewing Mergers and acquisitions under Antitrust / competition law Anti-competitive practices are Business or Government practices that prevent and/or reduce Competition in a Market (see Restraint of trade Collusion is an agreement usually secretive which occurs between two or more persons to deceive mislead or defraud others of their legal rights or to obtain an objective forbidden A cartel is a formal (explicit agreement among firms Cartels usually occur in an oligopolistic industry, where there is a small number of sellers and usually involve Price fixing is an agreement between business competitors to sell the same product or service at the same price Product bundling is a Marketing strategy that involves offering several products for sale as one combined product Tying is the practice of making the sale of one good (the tying good to the De facto or De jure customer conditional on the purchase of a second distinctive Refusal to deal is one of several Anti-competitive practices forbidden in countries which have Free market economies In Competition law, a group boycott is a type of Secondary boycott in which two or more competitors in a Relevant market refuse to conduct business Exclusive dealing refers to when a retailer or wholesaler is ‘tied’ to purchase from a supplier on the understanding that no other distributor will be appointed or receive supplies Bid rigging is an illegal agreement between two or more competitors Dividing territories (also Market division) is an agreement by two companies to stay out of each other's way and reduce competition in the agreed-upon territories Conscious parallelism is a term used in Competition law to describe Price-fixing between competitors in an Oligopoly that occurs without an actual spoken Predatory pricing (also known as destroyer pricing) is the practice of a firm selling a product at very low price with the intent of driving competitors out of the Market In United States patent law, patent misuse is an Affirmative defense used in patent litigation when a Defendant has been accused to have Copyright misuse is an equitable defense against Copyright infringement in the United States based on the unreasonable conduct of United States antitrust law is the body of Laws that prohibits anti-competitive behavior (monopoly and Unfair business practices. The Sherman Antitrust Act ( Sherman Act, July 2, 1890, ch 647,) was the first United States Federal statute to limit Cartels and The Clayton Antitrust Act of 1914 ( October 15[[ 914]] ch 323, codified at,) was enacted in the United States to add further substance to the U The Robinson-Patman Act of 1936 (or Anti-Justice League Discrimination Act,) is a United States federal law that prohibits what were considered at the time of passage The Federal Trade Commission Act of 1914 (15 USC §§ 41-58 as amended) established the Federal Trade Commission (FTC a Bipartisan body of five members The essential facilities doctrine (sometimes also referred to as the essential facility doctrine) is a Legal doctrine which describes a particular type of claim of The Noerr-Pennington doctrine is a doctrine of United States Antitrust law set forth by the United States Supreme Court in a pair of cases which The rule of reason is a doctrine developed by the United States Supreme Court in its interpretation of the Sherman Antitrust Act. European Community competition law is one of the areas of authority of the European Union. Irish Competition Law is the Irish body of legal rules designed to ensure fairness and freedom in the Marketplace. The Competition Act 1998 is the current major source of competition policy in the UK along with Enterprise Act 2002. K. )

Australia

Enforcement authorities and organizations
edit box

The Merger guidelines are a set of internal rules promulgated by the Antitrust Division of the United States Department of Justice (USDOJ) in conjunction with the Federal Trade Commission (FTC). The Trade Practices Act 1974 is an act of the Parliament of Australia. The International Competition Network is an informal virtual network that seeks to facilitate cooperation between Competition law authorities globally A competition regulator is a Government agency, typically a statutory authority, sometimes called an economic regulator, which regulates and enforces The United States Department of Justice Antitrust Division is responsible for enforcing the antitrust laws of the United States. For animal rights group see Justice Department (JD The United States Department of Justice ( DOJ) is a Cabinet department The Federal Trade Commission ( FTC) is an independent agency of the United States government, established in 1914 by the Federal Trade Commission Act These rules, which have been revised a number of times in the past four decades, govern the extent to which these two regulatory bodies will scrutinize and/or challenge a potential merger on grounds of market concentration or threat to competition within a relevant market. In Economics, market concentration is a function of the number of firms and their respective shares of the total production (alternatively Competition is a rivalry between individuals groups nations or animals for territory or resources In Competition law the Relevant market defines the market in which one or more goods compete

The merger guidelines have sections governing both horizontal integration and vertical integration. In Microeconomics and Strategic management, the term horizontal integration describes a type of ownership and control In Microeconomics and Management, the term vertical integration describes a style of Management control.

Contents

History of the Merger guidelines

The first merger guidelines set forth by the USDOJ were the 1968 Merger Guidelines,[1] which remained largely unchanged until 1982. For animal rights group see Justice Department (JD The United States Department of Justice ( DOJ) is a Cabinet department The 1968 guidelines were developed by former U.S. Assistant Attorney General Dr. Many of the divisions and offices of the United States Department of Justice are headed by an Assistant Attorney General. Donald Turner, an economist and lawyer with expertise in the field of industrial organization. An economist is an expert in the Social science of Economics. Industrial Organization is a field of Economics that studies the strategic behavior of firms the structure of Markets and their interactions [2] These merger guidelines were criticized in some quarters as being overly concerned with issues of market structure such as barriers to entry and concentration ratios at the expense of efficiency and economies of scale. In Economics and especially in the theory of Competition, barriers to entry are obstacles in the path of a firm which wants to enter a given Market In Economics, the concentration ratio of an Industry is used as an indicator of the relative size of firms in relation to the industry as a whole [3] They were, however, a step forward in two ways: they gave more accurate advice to corporate management as to when and how mergers would be examined, and brought new economic ideas into antitrust enforcement, specifically the "structure-conduct-performance" model of industrial organization. Industrial Organization is a field of Economics that studies the strategic behavior of firms the structure of Markets and their interactions [2]

In 1982, Associate Attorney General Bill Baxter, under the authority of U.S. Attorney General William French Smith, released a new set of guidelines, which made heavier use of modern concepts of microeconomic theory, including the using the Herfindahl index to determine market concentration. The Associate Attorney General is the third-ranking official in the United States Department of Justice. The United States Attorney General is the head of the United States Department of Justice (see) concerned with legal affairs and is the chief law enforcement William French Smith ( August 26 1917 &ndash October 29 1990) was an American lawyer and the 74th Attorney General of the Microeconomics is a branch of Economics that studies how individuals households and firms and some states make decisions to allocate limited resources typically in markets The Herfindahl index, also known as Herfindahl-Hirschman Index or HHI, is a measure of the size of firms in relationship to the Industry and an In Economics, market concentration is a function of the number of firms and their respective shares of the total production (alternatively [4] The newer guidelines took a more favorable view of economies of scale and efficiency of production as rationales for integration. [2] Moreover, they raised the level of market concentration necessary for the government to scrutinize mergers, effectively treating competition as a means to greater efficiency rather than as a goal in and of itself. [5] This was quite a controversial approach at the time: some antitrust lawyers saw it as a loosening of previous restraints on corporate consolidation, and some State Attorneys General responded to Baxter's changes by tightening merger enforcement at the state level. The state attorney general in the United States is an executive office in all 50 State governments. [3]

The guidelines were revised again in 1984. [6] The only remaining portion of the 1984 guidelines which remains in effect is Section Four, which governs the examination of market effects of vertical integration. In Microeconomics and Management, the term vertical integration describes a style of Management control. These guidelines were later replaced by the 1992 Merger Guidelines,[7] which represented a fine-tuning of previously established tools and policies, such as the SSNIP test and rules governing the acquisition of failing firms. In Competition law, before deciding whether companies have significant Market power which would justify government intervention the test of Small but Significant and Non-transitory The most recent revision of the merger guidelines was made in 1997,[8] which are still effective as of 2007. Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century.

Notes

  1. ^ 1968 Merger Guidelines, from the U.S. Department of Justice website
  2. ^ a b c Oliver E. Williamson, The Merger Guidelines of the U.S. Department of Justice-In Perspective. Accessed November 4, 2007. Events 1333 - Flood of the Arno River, causing massive damage in Florence as recorded by the Florentine chronicler Giovanni Villani Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century.
  3. ^ a b Remarks of Assistant Attorney General Charles A. James.
  4. ^ Time magazine, "Guidelines for the Merger Thicket", June 28, 1982. Accessed September 12, 2007. Events 1213 - Albigensian Crusade: Simon de Montfort 5th Earl of Leicester, defeats Peter II of Aragon at the Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century.
  5. ^ William J. Kolasky and Andrew R. Dick, The Merger Guidelines and the Integration of Efficiencies into Antitrust Review of Horizontal Mergers, 10 June 2002. Accessed September 12, 2007.
  6. ^ 1984 Merger Guidelines
  7. ^ 1992 Merger Guidelines
  8. ^ 1997 Merger Guidelines

See also

External links

United States antitrust law is the body of Laws that prohibits anti-competitive behavior (monopoly and Unfair business practices.
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