The scope and effects of UK and EU law related to competition

In general, law, in terms of the legislation and regulations introduced by government, is intended to protect those with weaker bargaining power. From a business perspective, it ensures that competition between firms is fair, that employees are treated fairly, that firms pay due attention to the impact of their actions on the enviroment, that consumers recieve a fair deal and that products meet health and safety standards. In this sense, the law ensures a more ordered enviroment and one that is fairer for all parties concerned. 

UK and EU law related to competition 

UK and EU competition law prohibit three main types of anti-competitve agreements.

• Anti- competitive agreements: Both UK and EU law prohibit agreements and arrangements that prevent, restrict or disort competition and which affect or may affect trade within the UK or EU. The types of arrangement that are prohibited by the UK include:

agreements that directly/indirectly fix purchases or selling prices,

agreements that limit or control production, markets or investment such…