Business, Legal & Accounting Glossary
Intentional anti-competitive acts by persons/companies substantially in control of a market, that has had, is having, or is likely to have the effect of preventing or lessening competition.
This concerns anti-competitive practices by large corporations.
i.e. those (typically) having a market share of at least 40% in at least one EU state.
Examples of anti-competitive activities, which are contrary to Article 102 of the Treaty of the Functioning of the EU as well as the UK Competition Act 1998, are refusing to supply an existing customer and/or engaging in predatory pricing.
Anti-competitive business practices by large enterprises, i.e. those having (usually) a market share of at least 40% in at least one EU state.
Examples of such activities, which are contrary to the Treaty on the Functioning of the European Act (Article 192) and the UK Competition Act 1998, include refusing to supply an existing customer and/or engaging in predatory pricing strategies.
The European Commission (EC) and the Competition & Markets Authority can fine businesses up to 10% of their annual worldwide group turnover for a breach of Article 102.
Microsoft was fined €899M in 2008 for their abuse of a dominant position.
abuse of dominance, abuse of dominant position, abuse of its dominant position, abuse of market dominance, abuse of market power
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This glossary post was last updated: 7th January, 2020 | 19 Views.