Competition Law
/ˌkɒmpəˈtɪʃən lɔː/
Definitions
- (n.) The body of law regulating anti-competitive conduct among businesses to ensure fair competition and protect consumer welfare.
Competition law prohibits companies from engaging in cartel behavior that restricts market competition.
- (n.) Legal rules preventing monopolies and promoting market entry and innovation by prohibiting abuses of dominant position.
Under competition law, the dominant firm was fined for abusing its market power to exclude rivals.
Related terms
See also
Commentary
Competition law is often synonymous with antitrust law in some jurisdictions, but may differ in scope; drafters should clarify jurisdiction and specific regulatory objectives.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.