The aim of Competition law is to promote open, dynamic markets and enhance productivity and innovation. Through the application of a rigorous competition regime, it is hoped that end consumers achieve greater value.
Competition law affects all businesses in the UK and elsewhere in the EU. As such, every business should consider the impact of competition law and the potentially serious consequences for non-compliance. Businesses that fail to comply with competition law risk fines of up to 10% of group turnover as well as claims for damages from affected third parties. In addition, businesses can also be forced to alter their commercial practices; while there can also be significant sanctions for individual members of staff.
Businesses should be aware that competition infringements can occur at every level within an organisation. It is therefore of critical importance that all businesses consider the potentially anti-competitive effects of any commercial arrangements that they contemplate entering into. In addition, every business should also ensure its day to day operations avoid practices which could be deemed anti-competitive.
We advise on competition law in relation to a wide range of situations. Our specialist advice can assist you in protecting your business from potential threats, as well as helping you maximise your commercial advantage. In particular, our specialist team can assist you with competition issues arising from:
- Mergers and acquisitions;
- Joint ventures;
- State and public procurement matters;
- Commercial agreements; and
- Business practices.