Answers to legal questions based on AI
The purpose of this law is to regulate relations related to the protection, maintenance and stimulation of competition in order to promote the legitimate interests of consumers.
In the European Union, competition law promotes the maintenance of competition within the European Single Market by regulating anti-competitive conduct by companies to ensure that they do not create cartels and monopolies that would damage the interests of society.
European competition law today derives mostly from articles 101 to 109 of the Treaty on the Functioning of the European Union (TFEU), as well as a series of Regulations and Directives.
Four main areas of competition policy include:
Applying competition law within the European Union also includes rules, enforced by the European Commission and national authorities.
EU legislation ensures free competition through rules in the TFEU (Articles 101-109) that ban cartels, abuse of dominant positions, anti-competitive mergers (EC Merger Regulation, EUMR), and overseeing state aid (primarily in Article 107 TFEU), all to create a level playing field, boost innovation, and provide consumers with better choices at lower prices within the single market.
Key pillars include prohibitions (Article 101, 02 TFEU), merger control (Merger Regulation), and state aid rules, enforced by the European Commission and national authorities.
In essence, EU competition law underpins the single market by making sure companies compete, not collude, fostering a dynamic economy.