MINOR PROJECT: A COMPARITIVE ANALAYSIS OF
COMPETITION LAW IN EU AND US
I would like to thank the staff and members of the University of Support and concern withoutwhich the report would have been extremely difficult to fill. I would like to thank Ms. ChitraBajpai, my faculty guide to help me for the duration of my minor project. My appreciation extends also to the staff of the library of the University.
This is to certify that I, Prerna Arora, personally worked on this project, the 'Comparative analysis of competition law in EU and US' data mentioned in the present report were obtained during the work directed by me, under the supervision of my faculty, Prof. Ms. ChitraBajpai, Amity International Business School. In the preparation of this project, I took an assistance of books, magazines and Web sites.
The project on a comparative analysis of competition law in EU and US has an overview about the competition law and on what basis these two countries laws are similar and different. This project is made with the help of the secondary data and the references are provided in the last of the report. All the summaries of the similarities and divergence are mentioned appropriately.
Secondary sources of information like various books, articles and websites have been used for completing this minor project. As it is very difficult to collect the primary data on the competition law in EU and US. The references are mentioned in the end of the report.
II European Union compared with US
III The European Union and the United States Divergence on the competition act
Competition is not defined in the Act but it generally the process of rivalry to attract more customers and improve profit. The Competition Act addresses market failures due to restrictive business practices on the market. The history of the competition law is usually traced back to the adoption of the Sherman Act in 1890 in the United States. This Act was directed against the power and the predations of the major corporations formed in the wake of the industrial revolution, where a control group of small gains and the stock of competitors, usually in assets and controlled their business. Little by little, competition came to be recognized as one of the fundamental pillars of a market economy. This recognition led to the promulgation of the law on competition in many countries, including developing countries, and the number now stands at about 105. Competition on the market means competing for the quality, price and resources, leading to a market oriented consumer rights, fair trade and effective resource allocation, development of small business, incentives for innovation and the spread of economic power. It is precisely for the benefits of competitive markets have been perceived to promote economic development. This project would aim to analysis of the competition law in two jurisdictions of the EU and the USA giving a comparative breakdown of the antitrust legislation in these countries as well as of the conclusive suggestions. The primary purpose of the competition act is to remedy certain situations in which the free market system breaks down. Well, it was pointed out during the debate of the House of Lords during the passage of the Competition Act 1998, that "competition law establishes the framework of competitive activity. When you are working efficiently, competition involves a process of rivalry between companies who strive to win customer activities by level the lowest costs and prices, to develop new products or services or exploit specific assets, skills or other benefits to meet the needs of...
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