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Shaping markets through competition and economic regulation is at the heart of addressing the development challenges facing countries in southern Africa. The contributors to Competition Law And Economic Regulation: Addressing Market Power In Southern Africa critically assess the efficacy of the competition and economic regulation frameworks, including the impact of a number of the regional competition authorities in a range of sectors throughout southern Africa.
Featuring academics as well as practitioners in the field, the book addresses issues common to southern African countries, where markets are small and concentrated, with particularly high barriers to entry, and where the resources to enforce legislation against anti-competitive conduct are limited. What is needed, the contributors argue, is an understanding of competition and regional integration as part of an inclusive growth agenda for Africa. By examining competition and regulation in a single framework, and viewing this within the southern African experience, this volume adds new perspectives to the global competition literature.
It is an essential reference tool and will be of great interest to policymakers and regulators, as well as the rapidly growing ecosystem of legal practitioners and economists engaged in the field.
This clear and concise textbook presents EU competition law in political, economic and comparative context. It combines excerpts from key EU rulings with discussions of enforcement policy issues and comparisons with US antitrust cases. Untangling the complex set of factors driving individual outcomes, it is the perfect companion for any student or practitioner in the field. Essential chapters explore the tools used by competition authorities in Europe: to punish cartels that fix prices or divide markets; to assess cooperative agreements between rival firms and supplier-customer relationships; to establish a dominant position and find abuses; and to review the competitive effects of mergers and acquisitions. The book also explains how authorities determine when business restraints infringe on the principles governing the EU internal market, and when Member States contravene the rules protecting the European competition system. More than a reference tool, this innovative book provides a rounded account of the various dimensions of EU competition law, of its place at the heart of the EU market integration project and of its relevance for the enforcement of antitrust principles worldwide. Key features: * provides a clear, concise and up-to-date presentation of the law * includes important excerpts from all important competition decisions and judgments of the European Commission and the EU Courts * explains the critical nuances of cases by means of contextual notes and questions * integrates law, economics and other policies, providing a holistic sense of competition law and its place in the European system * compares EU competition law with US antitrust law, analysing the root of their differences and enabling the reader to derive comparative insights * supports general and advanced EU and international competition law courses.
To what extent should competition agencies act as market regulators? Competition Law as Regulation provides numerous insights from competition scholars on new trends at the interface of competition law and sector-specific regulation. By relying on the experiences of a considerable number of different jurisdictions, and applying a comparative approach to the topic, this book constitutes an important addition to international research on the interface of competition and regulation. It addresses the fundamental issues of the subject, and contributes to legal theory and practice. Topics discussed include foundations of the complex relationship of competition law and regulation, new forms of advocacy powers of competition agencies, competition law enforcement in regulated industries in general, information and telecommunications markets, and competition law as regulation in IP-related markets. Scholars in the two fields of law and economics will find the research aspects of the book to be of interest. Officials in competition and regulatory agencies will benefit from the practical relevance of the book.
How substantive competition rules are enforced plays a crucial role in achieving their goals. This thoughtful book examines procedural issues that have arisen from the increased enforcement of competition law worldwide. Such issues are reviewed by expert contributors in Europe and around the globe. Special attention is paid to certain rights including the right to be heard, the right to defence, the right to protection of business secrets and the right to judicial review. The overarching structure of the book proposes an agenda for the solution of procedural fairness within competition proceedings for the future. This astute work will be a useful point of reference for scholars, practitioners and policy makers alike, who will benefit from the critical insight into how best to attain procedural fairness in the enforcement of competition law.
Innovation, Competition and Collaboration explores intellectual property (IP) in an era of fast-paced innovation, where private contractual arrangements for shared use of IP are seen to enhance competitive advantage. This timely book examines emerging innovation models and offers a forward-thinking, globalized perspective on critical developments in IP law. As innovation processes become increasingly collaborative, new relationships among players in the innovation space emerge. These developments demand new legal structures that allow horizontally integrated, open and shared use of IP. In this book, expert contributors review fundamental issues surrounding the collaborative use of IP and discuss emerging trends. The topics discussed include: the interpretation of FRAND terms in the context of standard essential patents; secondary liability of technology providers; contractual arrangements in trademark law, and the treatment of IP issues in specific emerging industries. Academics and practitioners alike will find this compelling discussion both informative and pragmatic, benefiting from the insight into how and why, in this modern innovation environment, competitive advantage is not premised solely on IP exclusivity.
With courts and arbitrators functioning daily as front line decision-makers applying EU competition law, this book reflects on a variety of issues related to the litigation and arbitration of cases in this field. It provides expert analysis from perspectives of substance, procedure, fundamental rights, as well as inter-institutional dialogue and coherence. Featuring a range of scholarly contributions, the essays address topics including the 2014 EU `Damages Directive', now in force and being implemented; the EU's tepid reception of the `collective redress' concept; a range of issues concerning state aid law; the arbitrability of competition law issues, as well as many other matters related to arbitration in this context such as judicial review of arbitral awards from a competition law perspective, and the interplay between arbitral proceedings and competition agency investigations. With its wide coverage, this book serves as a valuable resource for any reader working on EU competition law, whether for the purpose of teaching or studying the law, or of practising in this field as a lawyer, public official, judge or arbitrator.
Dealing with rights and developments at the margin of classic intellectual property, this fascinating book explores emerging types of regulations and how existing IP regimes inform and influence the judicial and legislative creation of "substitute" IP rights. The editors have carefully structured the book to ensure that there is a thorough analysis of how commercial values arising at the margins of classic IP rights are regulated. As new regimes of regulations emerge, the question of how existing IP regimes inform and influence the judicial and legislative creation of "substitute" intellectual property rights is explored. By doing this, the contributors interrogate the very boundaries that constitute what IP rights traditionally protect and cover. Should all investments in anything intangible and "intellectual" - such as product shapes, personality, data and organization of an event - be protected as property? Should there be qualitative differences among the types of investments and achievements? These are just some of the interesting questions addressed in this important new book. Academics, policymakers, lawyers and many others concerned with IP rights, will benefit from the extensive and thoughtful discussion presented in this work.
Private Enforcement of Antitrust Law in the United States is a comprehensive Handbook, providing a detailed, step-by-step examination of the private enforcement process, as illuminated by many of the country's leading practitioners, experts, and scholars. Written primarily from the viewpoint of the complainant, the Handbook goes well beyond a detailed cataloguing of the substantive and procedural considerations associated with individual and class action antitrust lawsuits by private individuals and businesses. It is a collection of thoughtful essays that delves deeply into practical and strategic considerations attending the decision-making of private practitioners. This eminently readable and authoritative Handbook will prove to be an invaluable resource for anyone associated with the antitrust enterprise, including both inexperienced and seasoned practitioners, law professors and students, testifying and consulting economists, and government officials involved in overlapping public/private actions and remedies.
EU and UK Competition Law is the perfect companion to your study of competition law. Written by a leading expert in the field, this new edition has been fully updated with all the latest developments in this rapidly moving subject area. It also includes expanded coverage of cartels within a dedicated chapter. Full coverage of the UK cartel offence, and merger control in both the EU and UK ensures this text maps fully to the syllabus of competition law modules.
Offering a concise and critical comparison of EU competition law and US antitrust law from an economic perspective, this is the ideal textbook for international and interdisciplinary courses combining law and economic approaches. The book provides thorough coverage including the definition of market power, the use of horizontal and vertical restrictions, mergers and the unilateral conduct of dominant firms. It also includes discussion of problems relating to the enforcement of legal prohibitions, which will be of particular interest to practitioners and regulators. With analysis of leading cases of EU competition law, US antitrust law and insightful case studies of competition laws in BRIC countries, this book succinctly highlights the key information and goes further to discuss the many issues relating to the use of economic analysis. Key Features: * uses economic insights to help students understand the context in which the rules of competition law are applied * systematically compares EU competition law and US antitrust law, with discussion of leading cases, in order to understand how the underlying principles work in practice * clear presentation, including boxes highlighting key case studies, ensures information on the competition laws of various BRIC countries is easily accessible * the comparative approach and use of international case studies make this an ideal textbook for students in any jurisdiction.
For academics, regulators and policymakers alike, it is crucial to measure financial sector competition by means of reliable, well-established methods. However, this is easier said than done. This comprehensive Handbook provides a collection of state-of-the-art chapters to address this issue. Using the latest empirical results from around the world, expert contributors offer a thorough assessment of the quality and reliability of the prevalent measures of competition in banking and finance. The Handbook consists of four parts, the first of which discusses the characteristics of various measures of financial sector competition. The second part includes several empirical studies on the level of, and trends in, competition across countries. The third part deals with the spillovers of market power to other sectors and the economy as a whole. Finally, the fourth part considers competition in banking submarkets and subsectors. This Handbook is an essential resource for students and researchers interested in competition, regulation, banking and finance. Politicians, policymakers and regulators will also benefit from the thorough explanation of the need for anti-trust regulation and identification of the most reliable competition measures.
"Competition and the State" analyzes the role of the state across a
number of dimensions as it relates to competition law and policy
across a number of dimensions. This book re-conceptualizes the
interaction between competition law and government activities in
light of the profound transformation of the conception of state
action in recent years by looking to the challenges of
privatization, new public management, and public-private
partnerships. It then asks whether there is a substantive legal
framework that might be put in place to address competition issues
as they relate to the role of the state. Various chapters also
provide case studies of national experiences. The volume also
examines one of the most highly controversial policy issues within
the competition and regulatory sphere--the role of competition law
and policy in the financial sector.
Whish and Bailey's Competition Law is the definitive textbook on this subject. The authors explain the purpose of competition policy, introduce the reader to key concepts and techniques in competition law and provide insights into the numerous different issues that arise when analysing market behaviour. Describing the law in its economic and market context, they particularly consider the competition law implications of business phenomena, including distribution agreements, licences of intellectual property rights, cartels, joint ventures, and mergers. The book assimilates a wide variety of resources, including judgments, decisions, guidelines, and periodical literature. An authoritative treatment of competition law is paired with an easy-to-follow writing style to make this book a comprehensive guide to the subject, regularly used in universities, law firms, economic consultancies, competition authorities, and courts. Clear, detailed, and analytical, this is an unparalleled guide and stand-alone resource on competition law.
Merger control has emerged as a growing area of competition law within the last decade. Merger operations can impact on a number of jurisdictions and may require regulatory notification and approval in more than one. Merger Control Worldwide provides practitioners and policy-makers with a clear point of reference that will prove invaluable when making decisions and delivering sound and accurate advice in merger cases. The chapters set out the details of every jurisdiction where a mechanism for merger control is in place and make use of flowcharts and diagrams to provide a concise and practical account of the relevant law in each jurisdiction.
Comparative Competition Law examines the key global issues facing competition law and policy. This volume's specially commissioned chapters by leading writers from the United States, Europe, Asia, South America, and Australia provide a synthesis of how these current issues are addressed by drawing on the approaches taken in different jurisdictions around the world. Expert contributors examine the regulation of core competitive conduct by comparing substantive law approaches in the US and the EU. The book then explores issues of enforcement - such as the regulator's powers, whether to criminalize anti-competitive conduct, the degree to which private enforcement ought to be encouraged, and the extraterritorial scope of domestic laws. Finally, the book discusses how competition law is being implemented in a variety of countries, including Japan, China, Brazil, Chile, and Colombia. This scholarly analysis of the key substantive, procedural, and remedial challenges facing global competition law policymakers offers a comparative framework to facilitate a better understanding of relevant policies. This collection of global perspectives will be of great interest to scholars and students of competition law, microeconomics, and regulatory studies. Competition law regulators, policy makers, and law practitioners will also find this book an invaluable resource.
Increasingly, EU market regulation measures have been introduced in the pursuit of economic justice and welfare. This book illustrates how regulation can help to prevent the abuse of dominance, in particular the abuse of public capital by the state. Comprehensive and interdisciplinary, this book presents the theory of regulation in a highly accessible manner. It explains that whilst the state's ability to make major investments, compete with the private sector and target subsidies may be necessary in supporting infrastructure, the wasteful allocation of public monies can also do immense harm by crowding out private investments, distorting private incentives, and helping to foreclose markets. Against this background, Christian Koenig and Bernhard Von Wendland discuss the strengths and weaknesses of EU regulation in the area of competition in the Internal Market, considering both private and public economic activities and market interventions and providing further analysis in light of global competitive pressures. Contemporary and practical, this book will appeal to academics, students and practitioners interested in regulation both in and outside of the EU. Decision-makers, lawmakers and politicians will also benefit from its strong focus on better law making and regulation in order to promote social welfare.
One of the fundamental challenges currently facing the EU is that of reconciling its economic and environmental policies. Nevertheless, the role of environmental protection in EU competition law and policy has often been overlooked. Recent years have witnessed a shift in environmental regulation from reliance on command and control to an increased use of market-based environmental policy instruments such as environmental taxes, green subsidies, emissions trading and the encouragement of voluntary corporate green initiatives. By bringing the market into environmental policy, such instruments raise a host of issues that competition law must address. This interdisciplinary treatment of the interaction between these key EU policy areas challenges the view that EU competition policy is a special case, insulated from environmental concerns by the overriding efficiency imperative, and puts forward practical proposals for achieving genuine integration.
One of the major shortcomings of the current drug discovery and development process is the inability to bridge the gap between early stage discoveries and pre-clinical research in order to advance innovations beyond the discovery phase. This book examines a drug discovery and development model, where the respective expertise of academia and industry are brought together to take promising discoveries through to proof of concept, providing a means to de-risk the drug discovery and development process. Expert author Helen Yu explores integrated drug discovery by analyzing the intersection of intellectual property law and competition law and discusses the role of stakeholders in the efficient translation and commercialization of publically funded research. Considering the transactional risks associated with drug discovery and development, this book advocates for a greater emphasis on contractual freedom and economic efficiency when assessing collaborative partnerships between industry and public research organizations. This standout book bridges the gap between theoretical research and legal practice by providing a research-based applied perspective on university-industry collaborations in drug discovery and development. Achieving Proof of Concept in Drug Discovery and Development has an international appeal, especially in countries actively involved in drug discovery and development. Organizations and associations will also benefit from a research-based applied perspective that advocates for a more nuanced application of the law to the pharmaceutical industry.
This book provides a comprehensive overview of the economic and competition policy issues that buyer power creates. Drawing on economic analysis and cases from around the world, it explains why conventional seller side standards and analyses do not provide an adequate framework for responding to the problems that buyer power can create. Based on evidence that abuse of buyer power is a serious problem for the competitive process, the book evaluates the potential for competition law to deal directly with the problems of abuse either through conventional competition law or special rules aimed at abusive conduct. Peter C. Carstensen's expert analysis uses the policy goal of preserving and protecting the competitive process as a guide, and evaluates competition law and policy found around the world for diverse perspectives. He identifies and evaluates controls beyond conventional competition rules and makes recommendations for competition policy, including focus on limiting the emergence of undue buyer power, strict controls limiting the size of legitimate buyer groups, prohibition in most instances of buyer cartels, and strict standards to bar mergers creating buyer power to provide a set of policies that can constrain the risks of undue buyer power. Competition law scholars, competition law practitioners, staff of competition enforcement agencies, economists interested in competition policy, and agricultural economists interested in market systems will all find this book a strong resource.
How does EU internal market law, in particular the rules on free movement and competition, apply to private regulation? What issues arise if a bar association were to regulate advertising; when a voluntary product standard impedes trade; or when a sporting body restricts the cross-border transfer of a football player? Covering the EU's free movement and competition rules from a general and sector-specific angle, focusing specifically on the legal profession, standard-setting, and sports, this book is the first systematic study of EU economic law in areas where private regulation is both important and legally controversial. Mislav Mataija discusses how the interpretation of both free movement and competition rule adapts to the rise of private regulation, and examines the diminishing relevance of the public/private distinction. As private regulators take on increasingly important tasks, the legal scrutiny over their measures becomes broader and moves towards what Mataija describes as 'regulatory autonomy.' This approach broadly disciplines, but also recognizes the legitimacy of private regulators; granting them an explicit margin of discretion and focusing on governance and process considerations rather than on their impact on trade and competition. The book also demonstrates how the application of EU internal market law fits in the context of strategic attempts by the EU institutions to negotiate substantive reforms in areas where private regulation is pervasive. Surveying recent case law of the Court of Justice of the European Union and the practice of the European Commission, Mataija demonstrates how EU internal market law is used as a control mechanism over private regulators.
Theoretical discussions among competition lawyers and economists on the approach to Resale resale Price price Maintenance maintenance (RPM) and Vertical vertical Territorial territorial Restrictions restrictions (VTR) have often caused controversy. However, commentators agree that there is a lack of comprehensive study surrounding the topic. This book explores these two forms of anticompetitive conduct from legal, historical, economical, and theoretical points of view, focusing on the EU and US experiences. The author expertly goes beyond the current legal practice to explain, among other things, what approach should apply to RPM and VTR, and why RPM and VTR are introduced in situations where procompetitive theories would not make economic sense, or do not apply in practice. The book takes account of economic values, such as efficiency and welfare, as well as other values, such as freedom, fairness and free competition. Scholars and students of law will find the book's depth of legal, economic and historical analysis to be a rich contribution to the scholarship. This book will also be of use to EU and US practitioners, and enforcers dealing with RPM and VTR cases.
Succinct and concise, this textbook covers all the procedural and substantive aspects of EU competition law. It explores primary and secondary law through the prism of ECJ case law. Abuse of a dominant position and merger control are discussed and a separate chapter on cartels ensures the student receives the broadest possible perspective on the subject. In addition, the book's consistent structure aids understanding: section summaries underline key principles, questions reinforce learning and essay discussion topics encourage further exploration. By setting out the economic principles which underpin the subject, the author allows the student to engage with the complexity of competition law with confidence. Integrated examples and an uncluttered writing style make this required reading for all students of the subject.
Public procurement is an important and rapidly evolving area of practice in the European commercial legal environment, and the Court of Justice of the European Union (CJEU) has been instrumental in shaping the current regime. The size of the market, the volume of transactions between public and private sectors, and new developments in the interface between sectors has created a need for a comprehensive conceptual framework to assess important law, policy, and jurisprudence. This book offers a lucid and authoritative guide to the development and application of public procurement law in the European Union (EU) and its Member States, with a core focus on the principles and case law of the CJEU. It evaluates the policies which underpin public procurement regulation in the EU and the characteristics of public procurement litigation before the CJEU, and closely examines the Court's approach to different areas of public procurement, with insightful and in-depth analysis of the legislation and case law, and the themes that emerge in relation to the Fundamental Principles of EU Treaties. The book's holistic approach, comparing EU acquis on public procurement with the Member States' stance on both application and enforcement, make it an important and innovative reference for legal practitioners, judges, policy makers and academics.
Markets run on information. Buyers make decisions by relying on their knowledge of the products available, and sellers decide what to produce based on their understanding of what buyers want. But the distribution of market information has changed, as consumers increasingly turn to sources that act as intermediaries for information--companies like Yelp and Google. Antitrust Law in the New Economy considers a wide range of problems that arise around one aspect of information in the marketplace: its quality.Sellers now have the ability and motivation to distort the truth about their products when they make data available to intermediaries. And intermediaries, in turn, have their own incentives to skew the facts they provide to buyers, both to benefit advertisers and to gain advantages over their competition. Consumer protection law is poorly suited for these problems in the information economy. Antitrust law, designed to regulate powerful firms and prevent collusion among producers, is a better choice. But the current application of antitrust law pays little attention to information quality.Mark Patterson discusses a range of ways in which data can be manipulated for competitive advantage and exploitation of consumers (as happened in the LIBOR scandal), and he considers novel issues like "confusopoly" and sellers' use of consumers' personal information in direct selling. Antitrust law can and should be adapted for the information economy, Patterson argues, and he shows how courts can apply antitrust to address today's problems.
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