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Vertical Agreement
A vertical agreement is a term used in competition law to denote agreements between firms at different levels of a supply chain. For instance, a manufacturer of consumer electronics might have a vertical agreement with a retailer according to which the latter would promote their products in return for lower prices. Franchising is a form of vertical agreement, and under European Union competition law this falls within the scope of Article 101. Whether a vertical agreement actually restricts competition and whether in that case the benefits outweigh the anti-competitive effects will often depend on the market structure. Contractual parties may include contractual restraints or obligations in vertical agreements to protect an investment or to simply ensure day-to-day business operation (e.g. distribution, supply or purchasing arrangements). Competition issues Vertical agreements are often exempted from regulatory controls as they give rise to fewer competition concerns than horiz ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Competition Law
Competition law is the field of law that promotes or seeks to maintain market competition by regulating anti-competitive conduct by companies. Competition law is implemented through public and private enforcement. It is also known as antitrust law (or just antitrust), anti-monopoly law, and trade practices law. 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 national level to promote and maintain fair competition in markets principally within the territorial boun ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
European Community
The European Economic Community (EEC) was a regional organization created by the Treaty of Rome of 1957,Today the largely rewritten treaty continues in force as the ''Treaty on the functioning of the European Union'', as renamed by the Lisbon Treaty. aiming to foster economic integration among its member states. It was subsequently renamed the European Community (EC) upon becoming integrated into the first pillar of the newly formed European Union in 1993. In the popular language, however, the singular ''European Community'' was sometimes inaccuratelly used in the wider sense of the plural '' European Communities'', in spite of the latter designation covering all the three constituent entities of the first pillar. In 2009, the EC formally ceased to exist and its institutions were directly absorbed by the EU. This made the Union the formal successor institution of the Community. The Community's initial aim was to bring about economic integration, including a common market and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Collusion
Collusion is a deceitful agreement or secret cooperation between two or more parties to limit open competition by deceiving, misleading or defrauding others of their legal right. Collusion is not always considered illegal. It can be used to attain objectives forbidden by law; for example, by defrauding or gaining an unfair market advantage. It is an agreement among firms or individuals to divide a market, set prices, limit production or limit opportunities. It can involve "unions, wage fixing, kickbacks, or misrepresenting the independence of the relationship between the colluding parties". In legal terms, all acts effected by collusion are considered void. Definition In the study of economics and market competition, collusion takes place within an industry when rival companies cooperate for their mutual benefit. Conspiracy usually involves an agreement between two or more sellers to take action to suppress competition between sellers in the market. Because competition among ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Vertical Restraints
Vertical restraints are competition restrictions in agreements between firms or individuals at different levels of the production and distribution process. Vertical restraints are to be distinguished from so-called "horizontal restraints", which are found in agreements between horizontal competitors. Vertical restraints can take numerous forms, ranging from a requirement that dealers accept returns of a manufacturer's product, to resale price maintenance agreements setting the minimum or maximum price that dealers can charge for the manufacturer's product. So-called "intrabrand restraints" such as resale price maintenance govern products made by a particular manufacturer, while "interbrand restraints" regulate a dealer's or manufacturer's relationship with its trading partner's rivals (e.g., "English clauses"). Quintessential examples of interbrand restraints include tying contracts, whereby a purchaser agrees to purchase a second product as a condition of obtaining a so-called " ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Horizontal Agreement
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{{disambiguation ...
Horizontal may refer to: *Horizontal plane, in astronomy, geography, geometry and other sciences and contexts *Horizontal coordinate system, in astronomy *Horizontalism, in monetary circuit theory *Horizontalism, in sociology *Horizontal market, in microeconomics * ''Horizontal'' (album), a 1968 album by the Bee Gees ** "Horizontal" (song)" is a 1968 song by the Bee Gees See also *Horizontal and vertical *Horizontal fissure (other), anatomical features *Horizontal bar, an apparatus used by male gymnasts in artistic gymnastics *Vertical (other) Vertical is a geometric term of location which may refer to: * Vertical direction, the direction aligned with the direction of the force of gravity, up or down * Vertical (angles), a pair of angles opposite each other, formed by two intersecting s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Department For Business, Energy And Industrial Strategy
The Department for Business, Energy and Industrial Strategy (BEIS) is a department of His Majesty's Government. The department was formed during a machinery of government change on 14 July 2016, following Theresa May's appointment as Prime Minister, through a merger between the Department for Business, Innovation and Skills (BIS) and the Department of Energy and Climate Change (DECC). Responsibilities The department has responsibility for: * business * industrial strategy * science, research and innovation * deregulation * energy and clean growth * climate change While some functions of the former Department for Business, Innovation and Skills, in respect of higher and further education policy, apprenticeships and skills, were transferred to the Department for Education, in a statement May explained:The Department for Energy and Climate Change and the remaining functions of the Department for Business, Innovation and Skills have been merged to form a new Department for B ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Retained EU Law
The European Union (Withdrawal) Act 2018 (also known as the Great Repeal Act) is an Act of Parliament, Act of the Parliament of the United Kingdom that provides both for repeal of the European Communities Act 1972 (UK), European Communities Act 1972, and for parliamentary approval to be required for any withdrawal agreement negotiated between the Government of the United Kingdom and the European Union. The bill's passage through both Houses of Parliament was completed on 20 June 2018 and it became law by Royal Assent on 26 June. The Act is to enable "cutting off the source of EU law in the UK ... and remove the competence of EU institutions to legislate for the UK".Summary The Second May ministry, 2017–2019 Government of Theresa May regarded it as the most significant constitutional legislation to have ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
List Of Recognized Economic Sectors
One classical breakdown of economic activity distinguishes three sectors: * Primary: involves the retrieval and production of raw-material commodities, such as corn, coal, wood or iron. Miners, farmers and fishermen are all workers in the primary sector. * Secondary: involves the transformation of raw or intermediate materials into goods, as in steel into cars, or textiles into clothing. Builders and dressmakers work in the secondary sector. * Tertiary: involves the supplying of services to consumers and businesses, such as babysitting, cinemas or banking. Shopkeepers and accountants work in the tertiary sector. In the 20th century, economists began to suggest that traditional tertiary services could be further distinguished from "quaternary" and quinary service sectors. Economic activity in the hypothetical quaternary sector comprises information- and knowledge-based services, while quinary services include industries related to human services and hospitality. Economic th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Motor Vehicle
A motor vehicle, also known as motorized vehicle or automotive vehicle, is a self-propelled land vehicle, commonly wheeled, that does not operate on Track (rail transport), rails (such as trains or trams) and is used for the transportation of people or cargo. The vehicle propulsion is provided by an engine or motor, usually an internal combustion engine or an electric motor, or some combination of the two, such as hybrid electric vehicles and plug-in hybrids. For legal purpose, motor vehicles are often identified within a number of vehicle classes including cars, buses, motorcycles, off-road vehicles, light trucks and regular trucks. These classifications vary according to the legal codes of each country. International Organization for Standardization, ISO 3833:1977 is the standard for road vehicle types, terms and definitions. Generally, to avoid requiring people with disabilities from having to possess an operator's license to use one, or requiring tags and insurance, powered ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
European Union
The European Union (EU) is a supranational political and economic union of member states that are located primarily in Europe. The union has a total area of and an estimated total population of about 447million. The EU has often been described as a '' sui generis'' political entity (without precedent or comparison) combining the characteristics of both a federation and a confederation. Containing 5.8per cent of the world population in 2020, the EU generated a nominal gross domestic product (GDP) of around trillion in 2021, constituting approximately 18per cent of global nominal GDP. Additionally, all EU states but Bulgaria have a very high Human Development Index according to the United Nations Development Programme. Its cornerstone, the Customs Union, paved the way to establishing an internal single market based on standardised legal framework and legislation that applies in all member states in those matters, and only those matters, where the states have agreed to act ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Supply Chain
In commerce, a supply chain is a network of facilities that procure raw materials, transform them into intermediate goods and then final products to customers through a distribution system. It refers to the network of organizations, people, activities, information, and resources involved in delivering a product or service to a consumer. Supply chain activities involve the transformation of natural resources, raw materials, and components into a finished product and delivering the same to the end customer. In sophisticated supply chain systems, used products may re-enter the supply chain at any point where residual value is recyclable. Supply chains link value chains. Suppliers in a supply chain are often ranked by "tier", with first-tier suppliers supplying directly to the client, second-tier suppliers supplying to the first tier, and so on. Overview A typical supply chain begins with the ecological, biological, and political regulation of natural resources, followed by the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
European Union Regulation
A regulation is a legal act of the European Union that becomes immediately enforceable as law in all member states simultaneously. Regulations can be distinguished from directives which, at least in principle, need to be transposed into national law. Regulations can be adopted by means of a variety of legislative procedures depending on their subject matter. Description The description of regulations can be found in Article 288 of the Treaty on the Functioning of the European Union (formerly Article 249 TEC). Article 288 To exercise the Union's competences, the institutions shall adopt regulations, directives, decisions, recommendations and opinions. A regulation shall have general application. It shall be binding in its entirety and directly applicable in all Member States. A directive shall be binding, as to the result to be achieved, upon each Member State to which it is addressed, but shall leave to the national authorities the choice of form and methods. A decision ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
