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Book

Cover Competition Law of the EU and UK
Competition Law of the EU in the UK provides an introduction to the field of competition law and relates it to the situation of the UK within the EU. It starts by looking at competition law in the EU and UK. It considers international issues and the globalization of competition law. In addition, it looks at procedure in terms of investigation, penalties, leniency, and private enforcement. It considers article 101 TFEU. It also explains the economics of merger control, looking at both the EU and UK merger control regime and the treatment of joint ventures. Finally, it considers state aid, the relationship between competition law and intellectual property and the common law and competition.

Chapter

Cover Competition Law

1. Competition policy and economics  

This chapter provides an overview of competition law and its economic context. Section 2 describes the practices that competition laws attempt to control in order to protect the competition process. Section 3 examines the theory of competition and gives an introductory account of why the effective enforcement of competition law is thought to be beneficial. Section 4 considers the goals of competition law. Section 5 introduces two key economic concepts, market definition and market power, that are important to a better understanding of competition policy. The chapter concludes with a table of market share figures that are significant in the application of EU and UK competition law, while reminding the reader that market shares are only ever a proxy for market power and can never be determinative of market power in themselves.