Competition Law
Overview
When businesses compete, consumers get better service at a better price. The goal of competition law, therefore, is to protect consumers by making sure businesses are competing with each other.
Competition law is broken when parties remove the element of uncertainty, which should normally exist between competitors, and replace it with certainty.
Competition law is concerned with two main areas:
- anti-competitive agreements
- the abuse of a dominant position.
Where it is deemed that competition law has been breached, individuals involved can be disqualified from being a director, fined, and/ or sent to jail. Aside from this, a firm can be fined up to 10% of its worldwide turnover. So, the importance of making employees aware of this law cannot be overstated.
Outline Learning Objectives:
- Understand competition law and the potential sanctions imposed
- Explore anti-competitive agreements and how the Competition and Markets Authority targets law breakers
- Explore how a company can exploit its dominant position in the market
- Identify how anti-competitive behaviours with competitors can cause anti-competition law issues
- Explore other aspects of anti-competitive behaviour in detail
- Test competition law knowledge against a set of defined case studies
- Review a real-life case study example from start to finish
Audience:
This e-learning course is great awareness training and would therefore suit all employees within your organisation.