Competition law, known in the United States as antitrust law, is law that promotes or maintains market competition by regulating anti-competitive conduct by companies. The history of competition law reaches back to the Roman Empire. The business practices of market traders, guilds and governments have always been subject to scrutiny, and sometimes severe sanctions. Since the 20th century, competition law has become global. The two largest and most influential systems of competition regulation are United States antitrust law and European Union competition law. National and regional competition authorities across the world have formed international support and enforcement networks. Modern competition law has historically evolved on a country level to promote and maintain competition in markets principally within the territorial boundaries of nation-states. National competition law usually does not cover activity beyond territorial borders unless it has significant effects at nation-state level. Countries may allow for extraterritorial jurisdiction in competition cases based on so-called effects doctrine. The protection of international competition is governed by international competition agreements. In 1945, during the negotiations preceding the adoption of the General Agreement on Tariffs and Trade in 1947, limited international competition obligations were proposed within the Charter for an International Trade Organisation. These obligations were not included in GATT, but in 1994, with the conclusion of the Uruguay Round of GATT Multilateral Negotiations, the World Trade Organization was created. The Agreement Establishing the WTO included a range of limited provisions on various cross-border competition issues on a sector specific basis.
The numerical value of competition law in Chaldean Numerology is: 5
The numerical value of competition law in Pythagorean Numerology is: 4
Sample Sentences & Example Usage
No other competition law jurisdiction in the world would have such a broad, unbalanced essential facilities doctrine.
This conduct fits fairly nicely into existing legal theories which are well established under existing EU competition law.
We have completed a compliance review of the GLS Group and we are not aware of any other matter which could be the subject of any other investigation by a relevant competition law authority.
It shouldn't only be the Commission doing things that are new in terms of developing competition law, they are well suited to do it. And since they both do it with the German and European perspective, then basically they do it in a way which is beneficial to all.
Images & Illustrations of competition law
Translations for competition law
From our Multilingual Translation Dictionary
- hukum persainganIndonesian
Get even more translations for competition law »
Find a translation for the competition law definition in other languages:
Select another language:
Discuss these competition law definitions with the community:
Word of the Day
Would you like us to send you a FREE new word definition delivered to your inbox daily?
Use the citation below to add this definition to your bibliography:
"competition law." Definitions.net. STANDS4 LLC, 2017. Web. 21 Sep. 2017. <http://www.definitions.net/definition/competition law>.