Distinguish between competition law and competition policy. What are the components of competition policy? How intellectual property law interacts and affects the competition policy?
Distingue between competition Law and competition policy
competition Law:- The Indian competition law regime has grown considerably in the last six years ever since the Act became operational in 2009. Prior to the operationalization of the Competition Act in May 2009, MRTP Act was the operational law that regulated certain aspects of competition. This Report discusses the legislative history of the Competition Act and analyzes salient jurisprudential trends in competition law enforcement in India since the First Report. This Report is divided into nine parts. Part I of this report deals with the trend analysis of cases brought before the Commission. Part II of this Report deals with the evolutionary history of competition law in India. Part III focuses on MRTP Act, Part IV of this report focuses on the competition law framework envisaged under the Competition Act. Part V and Part VI of this report discuss anticompetitive agreements and abuse of dominance, respectively. Part VII and Part VIII of this report discuss trends in the enforcement of the Competition Act till date and relevant decisions/orders passed by the Commission and COMPAT. Part IX of this report summarizes some of the international trends in competition law jurisprudence. This Report also includes an annexure that provides illustrative details of orders passed by CCI since the First Report, up to May 2015 in respect of anticompetitive agreements and abuse of dominance (i.e., orders in relation to matters under Section 3 and Section 4 of the Act).
competition policy:-
Competition puts businesses under constant pressure to offer the best possible range of goods at the best possible prices, because if they don't, consumers have the choice to buy elsewhere. In a free market, business should be a competitive game with consumers as the beneficiaries.
Sometimes companies try to limit competition. To preserve well-functioning product markets, authorities like the Commission must prevent or correct anti-competitive behaviour. To achieve this, the Commission monitors:
- agreements between companies that restrict competition – cartels or other unfair arrangements in which companies agree to avoid competing with each other and try to set their own rules
- abuse of a dominant position – where a major player tries to squeeze competitors out of
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