Regulating the Competitive Environment. Chapter 22. © 2005 Thomson/West Legal Studies In Business. History of Antitrust Law. U.S. preached the benefits after World War II (Sherman and Clayton Act since end of 1800”s) EU created a Directorate of Competition Policy
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© 2005 Thomson/West Legal Studies In Business
Every contract… in restraint of trade or commerce… is illegal
Art. 81 (1) prohibits agreements..may affect trade..which have as their object.. prevention, restriction or distortion of competition
Lists specific prohibited conductLanguage of the Law: U.S. and EU
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Article 82Abuse of Dominant Position