What is Competition Law?
Competition law regulates business practices to maintain a fair market. It prevents companies from engaging in activities that stifle competition, like price fixing or forming monopolies. This protects consumers by ensuring a variety of choices and competitive prices. Companies must comply to avoid legal issues and foster a healthy market environment.
From a company's perspective, competition law sets the boundaries for fair play in the market. It prohibits practices like price fixing and market dominance that harm consumers and hinder innovation. While adhering to these regulations can be complex, it fosters a level playing field, protects against antitrust issues, and ultimately benefits companies by promoting healthy competition and market growth.