Principles of Competition Law in South Africa offers an accessible, applied and rigorous introduction to the general principles of competition law and policy in South Africa. The text presents the fundamental principles of competition law within a clear and practical framework, and supports enquiring engagement with critical and reflective issues. Providing a comprehensive foundation of knowledge, the text introduces relevant, key concepts and perspectives of competition economic theory, inviting readers to deepen their understanding of the core subject matter in an accessible manner. Principles of Competition Law in South Africa is suited as course material for students who are studying competition law as a module of the LLB degree programme, or at postgraduate level. It is also a useful resource for practitioners who may wish to engage with foundational and current principles of the field.

Setting out the current rules on legal professional privilege (LPP), with specific attention to their relevance in EU competition investigations, this comprehensive book analyses the practice of LPP by the European Commission and its interpretations in the European Courts. It also compares this to practice in the EU Member States, as well as other jurisdictions including Japan, the UK, and the US. Key Features: An overview of the history of LPP Discussions on the practice of LPP in the EU and globally Commentary on the relevant case law of the EU courts in relation to LPP in EU competition investigations Analysis of LPP in competition investigations in the EFTA countries, EU Member States, and other jurisdictions This book will be an essential resource for competition practitioners – both private practitioners and in-house counsel – as well as officials at the Commission and at the competition authorities and enforcement agencies.

Combining a variety of perspectives, this accessible Research Handbook provides a comprehensive and in-depth analysis of the most significant issues pertaining to the legal regulation of cartel activity. Its interdisciplinary team of top scholars explores theoretical, legal, economic, political, and comparative discourse surrounding cartel regulation. Collectively, its chapters address the major economic, substantive, and procedural issues encountered in cartel law and provide practical insight into the experiences of numerous jurisdictions from across the globe concerning anti-cartel enforcement. Rigorous and authoritative, this Research Handbook captures the informed views of various stakeholders in the debate at hand, including those of competition law academics, competition law economists, practising lawyers and competition law enforcers. Given its scope and depth, this Research Handbook will be essential reading for academics, practitioners, and policymakers interested in competition law generally and in cartel law in particular. It will also be beneficial as a supplementary reading resource for students of competition law, most notably those examining the issues of cartel regulation.

This insightful book discusses the interaction of sector-specific regulation and competition policy. In particular, it identifies emerging trends and reflects on the nature of network regulation in the energy and telecom industries. Expert contributors examine the recent European Electronic Communications Code (EECC), as well the relevant regulatory framework in the electricity and pharmaceutical sectors. Chapters consider key topics, such as the recent antitrust investigations concerning the excessive price of off-patent drugs and the impact of digitalization on the future of network industries. The book also assesses several examples of the complex relationship between sector-specific regulation and competition policy; a relationship constantly swinging between complementarity and conflict. Providing a comparative analysis of EU competition policy at both the EU and national levels, this timely book will be a valuable resource for scholars and students of EU competition policy. It will also be beneficial for practitioners, specialising in the regulation of the telecom, energy and pharmaceutical industries.

With an interdisciplinary approach, this book elaborates and discusses the strategic, regulatory and economic scenario that the sponsorship of a European Digital Single Market has been generating for small- and medium-sized companies (SMEs). Encompassing expert innovative analysis of the regulatory framework, economic dynamics and organizational processes, SMEs in the Digital Era highlights the effects these have and the complex process through which SMEs can enter and successfully compete in the digital market. With contributions from international scholars, this insightful book takes a deep dive into the current most relevant debates taking place in management, economics and business law using original evidence from a variety of fields and countries. Chapters offer a fresh look at the new policies and regulatory tools required to meet the challenges of digitalization, reflecting on the effects on employment, competition and organizational processes, and how imbalances can impact the future of the technological revolution. Providing insights into the most advanced and recent research on digital markets, this will be an excellent resource for academics, practitioners, managers and policymakers in fields ranging from organization theory and organizational behaviour to strategy, economic analysis as well as economics and business law.

The Research Handbook on Private Enforcement of Competition Law in the EU provides wide-ranging coverage of a key aspect of competition law enforcement which is undergoing constant and rapid growth in significance. The Handbook examines the private enforcement of competition law across the EU and beyond, shedding light on pertinent and underlying issues. This Research Handbook brings different perspectives into the dialogue, curating contributions from judges, academics and practitioners. As a whole, the Handbook delivers a deft exploration of strategies to successfully enforce rights across the EU and encompasses discussion and scrutiny of legal instruments, institutional developments, key litigation issues and judicial practice. It delivers contemporary and comparative reflection on developments in practice, including the impact of the Antitrust Damages directive, and the impact of a range of CJEU case-law. Organised into three main sections covering general issues, key aspects relating to private enforcement, and the experience of enforcement in key jurisdictions, this rigorous and engaging Research Handbook will be an invaluable resource for scholars, advanced students and practitioners.

The Consumer Welfare Hypothesis in Law and Economics is a compelling account of market relations with firm roots in economic theory and legal practice. This incisive book challenges the mainstream view that allocative efficiency is about total welfare maximisation. Instead, it argues for the consumer welfare hypothesis, in which allocating resources efficiently means maximising consumer welfare, and demonstrates that legal structures such as antitrust and consumer law are in reality designed and practised with this goal in mind. Using this paradigm, Fabrizio Esposito overcomes the opposition between efficiency and distribution and provides a firmer basis for debates about the foundations of contract law, antitrust law and consumer law, particularly in the European Union. The outcome is a bilateral view of the connection between the law and the economy and a rich research agenda to further understanding of the legal-economic nexus. Scholars and students of law and economics, as well as contract, consumer and antitrust and competition law will find this book a thought-provoking study. Its innovative yet straightforward conceptual framework will also be of interest to practitioners, policymakers and stakeholders in these fields.

This timely book discusses the application of the EU competition rules to pharmaceuticals, covering the prohibitions on anticompetitive agreements and abuse of dominance, and merger control. The author team comprises academic experts and private practitioners who analyse recent case law at both EU (and UK) and Member State levels - in the context of current issues and future trends, including those related to COVID-19 - and examine the impact of competition law on the behaviour of the pharmaceutical industry. The book carefully considers the balance between competition and innovation, as well as between competition and regulation. It concludes that competition and regulation are not alternatives, but complementary, and that novel ways of taking into account risk and real innovation through competition assessments have been developed. Integrating an overview of competition law, IP law and pharmaceutical regulation, this book will be an ideal read for scholars and graduate students, as well as private and public practitioners interested in pharmaceutical and European law.

This revised and updated Research Handbook on European State Aid Law brings together established academics and practitioners to provide a wide-ranging coverage of the field. Incorporating political science, economics and the law in its analysis, it provides a strong overview of the salient issues in State aid law and policy. Chapters address the significance of State aid to various aspects of the political and legal systems of the Member States, including taxation, the financial sector, and the interplay between EU rules on State aid, free movement and public procurement. The Research Handbook further examines the application of the State aid rules to major sectors of the EU economy and introduces brand new themes for State aid analysis, such as arbitration, social services and the impact of Brexit. Featuring theoretical explorations and empirical studies, this Research Handbook will be crucial reading for scholars and researchers of EU State aid law, especially those searching for new avenues of research. It will also be a useful reference point for officials in national governments and the European Commission who are engaged in the State aid approval process. Judges hoping to expand their knowledge of EU State aid law and policy will also benefit from this insightful Research Handbook.

This cutting-edge book critically reviews the field of attempted legal control and regulation of delinquent conduct by business actors in the form of exploitative, collusive and corrupt behaviour. It explores key topics including victimhood, accountability, theories of trading and shared responsibility. Christopher Harding and Alison Cronin reflect on the attempts that have been made globally to use criminal law and other methods of formal legal control, as well as more flexible and innovative approaches under the heading of 'regulation', to address the problem of bad business practice. The book argues for a return to first principles and that the possibility of a reconfiguration of economic ordering and market and trading culture should be considered; as business malpractice is largely inherent in the dominant capitalist model, that model is in need of repurposing and reform. Taking an interdisciplinary approach, this book will be a valuable resource for scholars and students of law with a focus on business, commercial law and criminal law, in addition to researchers of corporate governance and public administration and management. Its critical arguments will also benefit NGOs, business professionals and campaign groups.

What happens when electric utility monopolies pursue their acquisition interests undisciplined by competition, and insufficiently disciplined by the regulators responsible for replicating competition? Since the mid-1980s, mergers and acquisitions of U.S. electric utilities have halved the number of local, independent utilities. Mostly debt-financed, these transactions have converted retiree-suitable investments into subsidiaries of geographically scattered conglomerates. Written by one of the U.S.'s leading regulatory thinkers--a litigating attorney, regulatory advisor, expert witness and law professor--this book combines legal, accounting, economic and financial analysis with insights from the dynamic field of behavioral economics. With a clear assessment of the 30-year march of U.S. electricity mergers, the author describes the economic losses that result when merger promoters and their transactions face neither the discipline of competition nor the rigors of regulation. This work is essential reading for regulatory practitioners, consumer advocates and investment advisors--as well as citizens concerned with concentration of economic power. The principles explored are relevant anywhere regulated utility monopolies have the legal right to merge, acquire or be acquired.

This incisive book examines the role of Intellectual Property (IP) as a complex adaptive system in innovation and the lifecycle of IP intensive assets. Discussing recent innovation trends, it places emphasis on how different forms of intellectual property law can facilitate these trends. Inventors and entrepreneurs are guided through the lifecycle of IP intensive assets that commercialise human creativity. Utilising a range of sector-specific, interdisciplinary and actor-focused approaches, each contribution offers suggestions on how Europe's capacity to foster innovation-based sustainable economic growth can be enhanced on a global scale. This comprehensive book addresses the role of IP in public-private partnerships and business transactions and further explores how IP law can uphold distributive justice in the innovation society. Chapters span a range of topics of great societal interest, including standard essential patent licensing in the Internet of Things, patent quality concerns under competition law and the role of market-driven and legislative solutions to online music licensing. Intellectual Property as a Complex Adaptive System will be a key resource for students and scholars of IP law, innovation and economics. It will also be vital reading for practitioners, knowledge-intensive industry representatives and innovation and technology transfer specialists.

This insightful book assesses emerging trends in the role of economic analysis in EU competition policy, exploring how it has substantially increased in terms of both theories and methods. Expert contributors examine the jurisprudence of the EU Court of Justice, which has become more supportive of effect-based analysis in EU competition policy. Chapters consider key topics including the role of economic analysis in relation to defining the relevant market, the challenges of competition policy enforcement in the telecom and digital markets, and economic methods to estimate damages in cases of private enforcement of EU competition law. The book also discusses the challenges faced by judges in reviewing the economic evidence relied on by competition agencies in their decisions and how these may be overcome. Providing a comparative analysis of EU competition policy at both the EU and national levels, this book will be a valuable resource for scholars and students of EU competition policy. It will also be beneficial for practitioners specialising in competition law and economics.

This incisive textbook enhances understanding of EU competition law, exploring significant substantive and enforcement issues relating to antitrust, merger control and state aid law. Providing an examination of well-established doctrines, landmark judgements and the impact of recent developments, this textbook also highlights the importance of the interplay between domestic and European competition law by discussing national competition rules and frameworks. Competition Law in the EU will be an invaluable resource for advanced undergraduate and masters-level students of European or comparative competition law. The textbook will also be beneficial to other postgraduate researchers and practitioners; in particular, it will be a useful guide for in-house company training courses. Key features include: A focus on the European and national dimensions of the EU competition rules, including the shared enforcement responsibilities of the European Commission and national authorities Analysis of recent developments in competition law, including digital markets Discussion of the impact of issues such as Brexit and the Covid-19 pandemic Critical assessment and thorough analysis of the most significant competition law issues.

This insightful book proposes taking inspiration from EU competition law structures to inform and implement a more economic approach in WTO law. The book provides a detailed account of the two legal systems regarding likeness, harm, and remedies, in order to draw comparisons. Taking a unique approach in synthesizing law and economics with comparative law methods, it considers WTO law holistically to propose a legal transplant from EU competition law to WTO law. Drawing from EU competition law, the book generates comparative ideas that can improve the understanding of fundamental WTO concepts such as likeness, less favourable treatment, discrimination, trade harm, trade effects, and the level of permissible countermeasures. Based on this analysis, the author offers normative suggestions to improve the efficiency of WTO law through correct implementation of a more economic approach. As part of this approach, the author recommends an increased capacity for all key actors involved in WTO dispute settlement. Exploring key WTO concepts and employing law and economics benchmarks to make comparisons, this thought-provoking book will be of benefit to scholars and students of law and economics, global transnational law and WTO law in particular. It will also prove valuable for practitioners and policy makers involved in international trade law and dispute settlement.

This timely book examines the ever-increasing prevalence of Central Purchasing Bodies (CPBs), analysing their use and structure across different EU Member States. It argues that since CPBs are only partially regulated at EU level, their operations will depend on the legislation of the individual Member States and more importantly on the States' distinct practices and traditions. Comparative contributions consider the legal nature and structures of CPBs across 12 Member States and the UK. Through comprehensive comparative analysis, this book investigates competition law and SMEs, economic and management perspectives, and centralised public purchasing during the COVID-19 pandemic within the sphere of CPBs and joint procurement. Chapters explore the use of procurement techniques and electronic instruments by CPBs and the liability and remedies perspectives of CPBs and their users. Providing a complete overview of CPBs structure in different Member States and the aspects of joint procurements, Centralising Public Procurement will be of interest to students and scholars of European and commercial law. It also offers important insights for CPBs themselves, practitioners and policy-makers, as well as contracting authorities using CPBs in the different Member States.

This timely book addresses the contemporary complexities within competition law, questioning whether the founding principles of competition law still hold true today. It explores three main present-day challenges for competition law: the impact of the digital economy and innovative sectors, the challenges facing emerging countries, and current institutional issues. Written in a clear and concise way, with an emphasis on current trends and practices, this book explores recurring key questions such as what are the impacts of the economic characteristics of a market on legal assumptions and the limits of antitrust. Chapters address topics such as merger control regimes, the creation of specialised competition tribunals, and competition clauses in trade agreements. Challenges to Assumptions in Competition Law takes a fresh look at these important issues for competition law in the digital age, incorporating insights from China, Latin America, Europe and the US. This insightful book will be a useful resource for academics and researchers in competition and commercial law, whilst also providing an informative foundation for lawyers and economists working in the field.

This innovative and original book explores the relationship between blockchain and antitrust, highlighting the mutual benefits that stem from cooperation between the two and providing a unique perspective on how law and technology could cooperate. Delivering a legal, economic, and technical analysis of antitrust and blockchain, Thibault Schrepel provides a well-rounded examination of their mutual flaws and the limitations that occur when they ignore each other. He explores the anticompetitive practices that may arise in the field as well as covering enforcement issues before showcasing the potential of blockchain and antitrust to complement one another. He offers different ways of creating effective regulations and enforcement mechanisms for the purpose of benefiting their common interests. Covering key topics such as decentralization, blockchain evolution, and the objectives of competition law, this book will be of particular interest to academics and students researching at the intersection of law and technology. It will also be useful for legal practitioners interested in blockchain, as well as antitrust agencies and policy-makers.

This innovative and original book explores the relationship between blockchain and antitrust, highlighting the mutual benefits that stem from cooperation between the two and providing a unique perspective on how law and technology could cooperate. Delivering a legal, economic, and technical analysis of antitrust and blockchain, Thibault Schrepel provides a well-rounded examination of their mutual flaws and the limitations that occur when they ignore each other. He explores the anticompetitive practices that may arise in the field as well as covering enforcement issues before showcasing the potential of blockchain and antitrust to complement one another. He offers different ways of creating effective regulations and enforcement mechanisms for the purpose of benefiting their common interests. Covering key topics such as decentralization, blockchain evolution, and the objectives of competition law, this book will be of particular interest to academics and students researching at the intersection of law and technology. It will also be useful for legal practitioners interested in blockchain, as well as antitrust agencies and policy-makers.

This incisive book provides a much-needed examination of the legal issues arising from the data economy, particularly in the light of the expanding role of algorithms and artificial intelligence in business and industry. In doing so, it discusses the pressing question of how to strike a balance in the law between the interests of a variety of stakeholders, such as AI industry, businesses and consumers. Investigating issues at the intersection of trade secrets and personal data as well as the potential legal conflicts to which this can give rise, Gintare Surblyte-Namaviciene examines what kinds of changes to the legal framework the growing data economy may require. Through an analysis of the way in which EU competition law may tackle algorithm-related problems the book also identifies a regulatory gap in the case of algorithmic manipulation in the business-to-consumer relationship. The book further argues that control by public bodies over terms and conditions often used in the data economy may be necessary for the sake of consumer protection. Scholars in competition law and regulatory governance, particularly those with an interest in the impacts of technology, will find this to be critical reading. It will also be beneficial to practitioners and policy makers working at the intersections of regulation and technology.

For academics, regulators and policymakers alike, it is crucial to measure financial sector competition by means of reliable, well-established methods. However, this is easier said than done. This comprehensive Handbook provides a collection of state-of-the-art chapters to address this issue. Using the latest empirical results from around the world, expert contributors offer a thorough assessment of the quality and reliability of the prevalent measures of competition in banking and finance. The Handbook consists of four parts, the first of which discusses the characteristics of various measures of financial sector competition. The second part includes several empirical studies on the level of, and trends in, competition across countries. The third part deals with the spillovers of market power to other sectors and the economy as a whole. Finally, the fourth part considers competition in banking submarkets and subsectors. This Handbook is an essential resource for students and researchers interested in competition, regulation, banking and finance. Politicians, policymakers and regulators will also benefit from the thorough explanation of the need for anti-trust regulation and identification of the most reliable competition measures. Contributors include: A.N. Berger, J.A. Bikker, W. Bolt, J. Bos, Y.L. Chan, P. Coccorese, M.D. Delis, J. Fernandez de Guevara, Z. Fungacova, R. Gropp, I. Hasan, J.P. Hughes, D. Humphrey, L.F. Klapper, S. Kleimeier, C. Kok, S. Kokas, J.W. Kolari, M. Lamers, L. Liu, J. Maudos, L.J. Mester, C.-G. Moon, N. Mylonidis, S. Ongena, B. Overvest, V. Purice, R.J. Rosen, H. Sander, S. Shaffer, L. Spierdijk, D. Titotto, R. Turk-Ariss, G.F. Udell, L. Weill, J. Yuan, M. Zaouras

Does the competitive process constitute an autonomous societal value, or is it a means for achieving more reliable and measurable goals such as welfare, growth, integration, and innovation? This insightful book addresses this question from philosophical, legal and economic perspectives and demonstrates exactly why the competitive process is a value independent from other legitimate antitrust goals. Oles Andriychuk consolidates the normative theories surrounding freedom, market and competition by assessing their effective use within the matrix of EU competition policy. He outlines the broader context of the phenomenon of competition such as its pivotal role in the electoral system and its implications for free speech, and then goes on to investigate its relationship with the proponents of various antitrust-related goals. Further to this, some relevant solutions to persistent regulatory problems of antitrust are discussed. Timely and thought provoking, this book will be of interest to both students and scholars of European competition law, as well as those who are curious about its philosophical foundations. Offering deep insights into the nature of the competitive process, it will also appeal to judges and politicians weighing up antitrust goals.

Granting rebates to a customer or refusing to supply a competitor are examples of ordinary commercial practices, which become 'abusive' under Article 102 of the Treaty on the Functioning of the EU (TFEU) when carried out by 'dominant' firms. This topical book provides an up-to-date account of the emerging trends in the enforcement and interpretation of this provision at both the EU and national level. Employing a range of case studies, this illuminating book adds a cross-country perspective to the ongoing debate surrounding the scope of application of Article 102 of the TFEU; a debate largely caused by its ambiguous wording. Besides analyzing the case law of the EU Courts and EU Commission that determine what conduct falls in the 'abuse' box, a number of chapters examine the active contribution of national courts and competition authorities in the ongoing process of shaping the meaning of this legal provision. Astute and discerning, this book will appeal to academics and researchers in the areas of EU competition law and policy. Its practical examples will also prove beneficial to practitioners and national competition authorities. Contributors include: M. Botta, R. Karova, M. Marquis, G. Monti, P.L. Parcu, P.A. Perinetto, F. Schuhmacher, H. Schweitzer, M. Siragusa, M.L. Stasi, R. Whish

Increasingly, EU market regulation measures have been introduced in the pursuit of economic justice and welfare. This book illustrates how regulation can help to prevent the abuse of dominance, in particular the abuse of public capital by the state. Comprehensive and interdisciplinary, this book presents the theory of regulation in a highly accessible manner. It explains that whilst the state's ability to make major investments, compete with the private sector and target subsidies may be necessary in supporting infrastructure, the wasteful allocation of public monies can also do immense harm by crowding out private investments, distorting private incentives, and helping to foreclose markets. Against this background, Christian Koenig and Bernhard Von Wendland discuss the strengths and weaknesses of EU regulation in the area of competition in the Internal Market, considering both private and public economic activities and market interventions and providing further analysis in light of global competitive pressures. Contemporary and practical, this book will appeal to academics, students and practitioners interested in regulation both in and outside of the EU. Decision-makers, lawmakers and politicians will also benefit from its strong focus on better law making and regulation in order to promote social welfare.

Dr Jedlickova offers a fresh and much-needed insight on the law of resale price maintenance. She presents a sophisticated analysis of the relevant legislation and case law within a wider socio-economic contextual approach in which the very 'justice' of the various possible approaches is discussed. Competition lawyers, competition economists, and policy-makers will find arguments here that challenge assumptions, and analysis which is robust and pertinent. This is a valuable contribution to our understanding of resale price maintenance in particular, and vertical restraints in general.' - Mark Furse, University of Glasgow, UKTheoretical discussions among competition lawyers and economists on the approach to Resale resale Price price Maintenance maintenance (RPM) and Vertical vertical Territorial territorial Restrictions restrictions (VTR) have often caused controversy. However, commentators agree that there is a lack of comprehensive study surrounding the topic. This book explores these two forms of anticompetitive conduct from legal, historical, economical, and theoretical points of view, focusing on the EU and US experiences. The author expertly goes beyond the current legal practice to explain, among other things, what approach should apply to RPM and VTR, and why RPM and VTR are introduced in situations where procompetitive theories would not make economic sense, or do not apply in practice. The book takes account of economic values, such as efficiency and welfare, as well as other values, such as freedom, fairness and free competition. Scholars and students of law will find the book's depth of legal, economic and historical analysis to be a rich contribution to the scholarship. This book will also be of use to EU and US practitioners, and enforcers dealing with RPM and VTR cases.