Lecture 5 (2012)

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Universidad Universidad Pompeu Fabra (UPF)
Grado International Business Economics - 1º curso
Asignatura International Business Law (3rd Trim)
Año del apunte 2012
Páginas 3
Fecha de subida 22/06/2014
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Antitrust  and  competition  law     Introduction   è Consumer  protection   è Reduction  of  prices   è Preserve  competition  in  the  market,  protecting  this  way  the  consumers.   Increasing  consumer  welfare.   è Control  how  market  behave  and  shape  how  market  look-­‐like   § Without  directly  intervene  with  firms   § By  controlling  the  level  of  competition   § Control  mergers   è Control  the  structure  of  firms   è In  the  EU:  controlling  the  idea  of  a  single  market   § Freedomness  to  buy  and  sell  products  without  obstacles  or   barriers  within  the  EU   Consequences  upon  firms   o o o o o Monetary  fines,  peanalties  when  they  infringe  the  antitrust  rules   § In  some  member  states  (as  Spain),  directives  in  firms  with   antitrust  competitive  behavior  may  also  be  fined.   No  legal  effect  for  antitrust  agreements:  conscious  parallel  agreement,   pacto  de  caballeros.   Damage  claims    by  the  consumers  or  other  firms  that  may  be  caused  by   the  anticompetitive  behavior.   § Private  enforcement  to  antitrust  law.  Is  private  people   who  go  to  the  Court  and  sue  for  damages.     Reputation  damages   Anticompetitive  agreements  are  a  crime  and  you  can  go  to  jail.     Distribution  of  functions     EU   When  the  anticompetitive  behavior  is  going  to  affect  the  whole  European  Single   Market.  Or  if  it  has  relevance  for  the  European  market,  community  trade.   National  communities   Anticompetitive  behavior  inside  the  country,  not  enough  relevant  for  the  EU:         Horizontal  agreement:  total  amount  of  sales  <40  M   Vertical  agreement:  facturation  <40M  and  market  share  <5%   Antitrust  Agreements   o o Main  source  of  law  is  101    in  the  Treaty  of  Lisbon   a)  Agree  with  another  firm  to  fix  prices   b)Limit    or  reduction  the  production     At  the  level  of  membership,  the  basic  law  is  Defensa  de  la  competencia  article  1   It  is  forbidden:   -­‐agreement  between  undertakings   -­‐concerted  practices   -­‐decisions  between  undertakings   Types  of  agreements   o Horizontal     Between  two  firms  at  the  same  competitive  level.    DIRECT  COMPETITORS.   § Fix  prices/sharing  market   o Vertical     Situated  at  different  levels  of  production  or  sales.  INDIRECT  COMPETITORS.  CocaCola   pays  to  “El  corte  ingles”  to  not  sell  PepsiCola   § Fixing  resell  prices   § Forbidden  for  selling   § Territorial  restrictions   Agreement   o Formal  contracts  (whatever  its  form)   o Gentlemans  agreements  (implicitly  formed  by  the  firms)   o Aparently  unilateral  “declaraciones”  tactically  accepted  by  the  other  part.     -­‐Decision  or  recommendation  of  a  firma  association     -­‐Concerted  practices.  Firm  behave  in  a  certain  parallel  way  that  can  only  be  explained  by  an   agreement,  understanding  by  them       Not  by  market  circunstances,  not  by  chance   -­‐The  most  importants:  fixing  prices,  sharing  markets  and  limiting  production.   EXCLUDED:    agreement  between  two  parts  of  the  same  firm,  even  f  both  have  a  different  legal   form.  Zara  and  Stradivarius:  they  can  both  agree  to  have  higher  prices  because  they  are  the   same  undertaking  (inditext),  even  if  both  have  different  legal  personalities.     UNDERTAKING:  any  entity  that  persues  an  economic  goal.  Doesn’t  matter  its  juridic  form   (public,  private)       Exceptions/limits  to  the  application   Minimist  rule:  anticompetitive  agreements,  but  as  irrelevant  that  they  are  not  going  to  affect   the  whole  market.  Law  is  no  going  to  be  applied.     è Hard-­‐core  restrictions  will  always  be  applied  (fixing  prices,  market  shares)   è Horizontal  agreements  <10%  market  share  both  firms   è Vertical  agreements  <15%  market  share  of  every  firm.   Law  may  itself  stablish  an  exeption:  law  may  authorize  behavior  that  may  be  anticompetitive.   Example  SGAE:  all  the  authors  come  together  and  decide  the  price  for  all  the  members.           ...