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Competition law is an area of economy law which aims to protect the fair competition. The main purpose of this area of law is to control and protect the competition as a basis of the market-economy, since only a fair competition among goods, services etc. of undertakings is able to ensure the consumer welfare.<\/p>\n
The two main areas of this field are the law against unfair competition and the law against restrictive market practices.<\/p>\n
Competition law forbids any kind of unfair market practices, such as abuse of reputation, business secrecy violation, boycott, false designation of goods or services.<\/p>\n
The prohibition of restrictive agreements (cartel prohibition), the prohibition of abuse of a dominant position, the control of concentration of undertakings (merger control).<\/p>\n
The field of law against restrictive market practices is controlled by the Hungarian Competition Authority. The fine for an infringement may amount to 10% of the net turnover achieved in the preceding business year.<\/p>\n
In order to avoid an infringement, it is worthwhile to seek an advice of an expert, and to establish a competition compliance programme.<\/p>\n
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[section] [row] [col span__sm=”12″] What is competition law? Competition law is an area of economy law which aims to protect the fair competition. The main purpose of this area of law is to control and protect the competition as a basis of the market-economy, since only a fair competition among goods, services etc. of undertakings […]<\/p>\n","protected":false},"author":23,"featured_media":0,"parent":1146,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"page-blank.php","meta":[],"yoast_head":"\n