Where do you find guidance on deciding upon the relevant market for EU competition law purposes?

The Commission’s Market Definition Notice provides guidance on the Commission’s approach to market definition for all areas of EU competition law, including the application of Article 102 TFEU.

What is the maximum penalty in the EU for a company found responsible of price fixing?

10%
The maximum level of fine is capped at 10% of the overall annual turnover of the company. See separate factsheet on fines. The parties subject to a Commission decision have the right to appeal to the General Court for the decision to be annulled.

What are possible sanctions for competition law breaches?

1. You can be fined or even imprisoned. Anti-competitive collusion can lead to fines for the businesses involved of up to 10% of their annual worldwide turnover. Individuals can also face personal fines and even prison sentences.

What is relevant market in competition law?

In competition law, a relevant market is a market in which a particular product or service is sold. A relevant geographic market comprises the area in which the firms concerned are involved in the supply of products or services and in which the conditions of competition are sufficiently homogeneous.

What is relevant market in Competition Act?

Relevant Markets The (Indian) Competition Act, 2002 (‘Act’) identifies a relevant product market to include all products or services regarded as interchangeable or substitutable by the consumer by reason of characteristics, price and intended use.

What happens if competition law is breached?

Businesses that are found to have breached competition law can be fined up to 10 per cent of their annual worldwide turnover and ordered to change their behaviour. Individuals who engage in cartel activity can be prosecuted and sentenced to up to five years in prison and/or a fine.

What is the purpose of Article 101 TFEU?

Article 101(1) TFEU prohibits any agreements between undertakings, decisions made by associations of undertakings, or concerted practices affecting trade between EU countries which could prevent, restrict or distort competition.

What is Article 102 of the European Union Treaty?

Article 102 of the Treaty on the Functioning of the European Union (formerly Article 82 of the Treaty establishing the European Community) is aimed at preventing undertakings who hold a dominant position in a market from abusing that position.

What does Article 102 (b) of the WTO mean?

Under Article 102 (b), “limiting production, markets or technical development to the prejudice of consumers” is considered an abuse by a dominant undertaking. An example was found in Porto di Genova [1991], where a shipping port refused to raise expenditure and update technology.

What undertakings are covered by Article 102?

A The undertakings that are talked about in Article 102 are those who have a ‘dominant position’ in the market or where two or more undertakings are ‘collectively dominant’.

What is Article 102 of the Schengen Convention?

The text of Article 102 provides the following, Any abuse by one or more undertakings of a dominant position within the internal market or in a substantial part of it shall be prohibited as incompatible with the internal market in so far as it may affect trade between Member States.”