This book addresses the various sustainability issues that the tourism industry has faced over time like the trend from over-tourism to under-tourism or from tourism in increasingly distant destinations to a new local tourism with new needs. It also highlights how contracts, both between businesses and those with consumers, can represent tools for the financial, ecological and social sustainability of the tourism industry.

Despite great strides in enforcement of the cartel prohibition of article 81 EC and major merger control reform, EC competition law still lacks clear standards for anti-competitive abuses under article 82 EC. In a masterful engagement with this issue, the thoughtful and original analysis in this book focuses on tying and bundling. Although these ubiquitous business practices are primarily addressed under article 82 EC as constituting abusive behavior, a wealth of economics literature emphasizes their strategic and efficiency motivations. However, there is a balance to be found, as this book ably demonstrates. In the course of the analysis, the author zeroes in on such central questions as the following: What tests are available to determine whether two products are distinct or not? Under which circumstances is anti-competitive leveraging feasible? Which efficiency motivations should be accepted? How does one valuate the possible efficiencies in the short run and the risk of leveraging effects in the long run? What factors should be considered when answering the separate product issue? What are the implications for the burden of proof under article 82 EC? Does the application of a more effects-based approach under article 82 also affect the dominance analysis? In his examination of the various responses to these probing questions, the author is able to formulate a very useful diagnosis of what factors determine whether a tied or bundled entity is likely to engender anti-competitive effects. The presentation is supported throughout by detailed reference to relevant legal-economic doctrine, laws, and judicial interpretation by European and U.S. courts, the European Commission, and antitrust agencies. In its development of effects-based tests for assessing tying and bundling practices, this important book will be of special value to policymakers and regulatory officials involved in enforcement of EC or Member State competition law. It will also be welcomed by academics in both law and economics as a truly cogent and workable approach to the solution of one of the most vital and intriguing debates in the antitrust field.

Providing short, clear and accessible explanations of the main areas of EU law, Understanding European Union Law is both an ideal introduction for students new to EU law and an essential addition to revision for the more accomplished. This eighth edition has been fully revised and updated with the latest legislative changes and includes an in-depth discussion of 'Brexit' and its implications for EU-UK relations. The book provides readers with a clear understanding of the structures and rationale behind EU law, explaining how and why the law has developed as it has. In addition to discussing the core areas of EU law such as its sources, the role and powers of the EU's Institutions, the enforcement of EU law and the law of the internal market, this edition also includes a new chapter on three 'non-economic' areas of EU law: fundamental human rights, equality (non-discrimination) and the environment. This student-friendly text is both broad in scope and highly accessible. It will inspire students towards further study and show that understanding EU law can be an enjoyable and rewarding experience. As well as being essential reading for Law students, Understanding European Union Law is also suitable for students on other courses where basic knowledge of EU law is required or useful, such as business studies, political science, international relations or European studies programmes.

Originally written to wide acclaim in 2001, Ky Ewing's magisterial work on international competition law is here updated to take stock of the prodigious expansion of anti-cartel enforcement throughout the world in the intervening years, and of the extraordinary success of the International Competition Network of agencies, now encompassing 97 competition agencies from an initial beginning in the Fall of 2001 - as an outgrowth in part of the judgments and recommendations of this able practitioner, espoused at the 2001 Ditchley Park conference of which Ewing was a co-chair. Yet the work's fundamental thesis has not changed: that re-evaluation of competition policies in the light of empirical evidence is fundamental to assuring that competition law delivers what it promises: freer markets and greater economic growth. Although the book has been highly regarded as a major reconsideration of the foundations of competition law and policy, it has also proven enormously valuable for its wealth of information and practical guidance. Among its most useful features (some new to the second edition) are the following: a vast amount of statistical and other information about public competition law enforcement agencies and their resources around the world; in-depth analysis of the differences in competition law regimes and the various economic and legal theories from which they derive; detailed attention to jurisprudence and legal commentary over many decades; probing of the meaning of 'low' and 'fair' as applied to prices; suggestions for carrying out re-evaluation of policies on the basis of empirical evidence; formulation of a model new U.S. competition law preempting state laws; and guidelines on distinguishing useful collaboration from collusive activity. Nine new appendices have been added to this edition, covering such informative material as new statistical data about U.S. enforcement, details on the dramatic cooperation now taking place among nations in anti-cartel enforcement, and suggestions on how companies and practitioners should respond to multinational investigations. This new edition of a highly thoughtful and thought-provoking classic should be on the shelves of all competition lawyers and economists, irrespective of whether they are legislators, law enforcers, private attorneys or scholars, in developed, developing, or transition economies. Based on the distinguished author's half-century of outstanding experience in public and private competition law enforcement, it is an excellent guide for both newcomers and experts in the field. Conscientious use of this book will go a long way toward achieving the efficient and harmonious economies upon which many countries are staking their prosperity or even survival.

This book discusses the socioeconomic effects of Right-to-Work (RTW) laws on state populations. RTW laws forbid requiring union membership even at union-represented worksites. The core of the 22 long-term RTW states was the Confederacy, cultural descendants of rigidly hierarchical agrarian feudal England. RTW laws buttress hierarchy and power imbalance which unions minimize at the worksite and by encouraging higher educational attainment, social mobility, and individual empowerment through group validation. Contrary to claims of RTW proponents, RTW and non-RTW states do not differ significantly in unemployment rates. RTW states have higher poverty rates, lower median household incomes, and lower educational attainment on average and median than non-RTW states. RTW states on average and median have lower life expectancy, higher obesity prevalence, and higher rates of all-cause mortality, early mortality from chronic conditions, child mortality, and risk behaviors than non-RTW states. The higher mortality rates result in startlingly higher annual numbers of years of life lost before age 75. Stroke mortality at age 55-64 in RTW states results in nearly 10,000 years annually lost in excess of what it would be if the mortality rate were that of non-RTW states. A review of respected publications describes the physiological mechanisms and epidemiology of accelerated aging due to socioeconomic stress. Unions challenge hierarchy directly at work-sites and indirectly through encouraging college education, social mobility, and community and political engagement. How startling that feudal hierarchy lives in 21st century America, shaping vast differences between states in macro- and micro-economics, educational attainment, innovation, life expectancy, obesity prevalence, chronic disease mortality, infant and child mortality, risk behaviors, and other public health markers! Readers will gain insight about the coming clash between feudal individualism and adaptive collectivism, and, in the last chapter, on ways to win the clash by "missionary" work for collectivism.

The book highlights the link between consumers and travellers, identifying the meaning of vulnerability in Brazil and the EU. It also covers different types of contracts for tourism and travel services, including online booking processes. Only after 2015, as a result of the directive on package travel and linked travel arrangements, did the EU begin viewing travellers as consumers in the sense of Union Consumer Law; conversely, in Brazil, the traveller has no legal status whatsoever and is considered solely a consumer. As the traveller is implicitly a consumer he/she is subject to vulnerability. However, the definition of vulnerability differs considerably between Brazil and the EU: while in Brazil it is a principle stemming from the Consumer Defence Code, covering all consumers, in the EU vulnerability is not an established principle. In the EU, although the average consumer is assumed to be reasonably well informed, observant and circumspect, they are also recognised as the weaker party in the contract. That recognition does not fit with the notion of "confident consumer". Vulnerable consumers in the EU are those whose individual characteristics, such as their age, physical or mental infirmity, or credulity, make them particularly susceptible to unfair commercial practices. Conversely, in Brazil these consumers are seen as being hyper-vulnerable, rather than solely vulnerable. In this context, travellers are in a weaker position than regular consumers buying goods or services, because they are outside of their domicile or jurisdiction for a brief or extended period of time. This book examines two types of traveller vulnerability that make travellers, particularly international ones, a special type of consumers: 1. External and 2. Legal (jurisdiction). Travellers' vulnerability mainly stems from consumers travelling to different markets and different cultures. As such, they are subject to different laws that require special global attention. While both the EU and Brazilian system have their respective advantages and disadvantages, the goal of both must be to further increase protection for travellers, including business travellers. In consumer societies, the traveller is indeed a consumer by logical causation and hence a "special consumer".

This book focuses on database law (a branch of intellectual property law) and further explores the legal protection currently available for data and data-related products in India. It offers a comparative study of the position of copyright law in protecting databases in the US and EU, while also presenting responses from the Indian database industry and its aspirations regarding the role of copyright law in database protection. India is undoubtedly leading the way as a knowledge economy. Its strengths are its information technology capability and its knowledge society, as well as its booming database industry - aspects that also necessitate the study of the role of law, as well as the protection of data and databases, in India. This book examines the growing importance of copyright law for protecting databases as well as for ensuring access in information societies. The book concludes with a discussion of key principles to be kept in mind in the context of drafting legal regimes for databases in India that will both benefit the database industry and ensure accessibility.

The new edition of this well-known reference work for the tax community provides an introduction to the application of the United States international taxation system to taxpayers investing or transacting business in the US and other countries. In a relatively brief and manageable form, it sets forth the principles adopted by the US in taxing US or foreign individuals and corporations as they invest, work, or carry on a trade or business in the US or abroad.

Dozens of cases worldwide continue to challenge Microsoft Corporation's superdominance of the global digital network economy, focusing in particular on the multi-tying practices that leverage Microsoft's market power into adjacent markets and reinforce its dominance. This is the first book to analyze this international line of cases, detailing both grounds for legal action (including unfair competition, restriction of consumers' freedom of choice, abusive pricing) as well as Microsoft's defenses and administrative settlements. The author also demonstrates the serious economic repercussions of Microsoft's monopoly, such as accumulation of inefficiency and stifling of innovation in this crucial sector of twenty-first century economy and society.Through an in-depth analysis of the Korea Fair Trade Commission (KFTC) case - which led to a December 2005 decision, currently under appeal at the Seoul High Court, condemning three fundamental tying practices embedded in Microsoft's global business strategy - the author clearly establishes the precise nature of Microsoft's anticompetitive practices, complete with clear technical descriptions of the underlying applications and digital media systems. The discussion develops valuable guidelines on such core issues as the following: network effect, tipping effect, and lock-in effect; separability of Microsoft's tied and tying products; forced purchase by consumers of multiple tied products; Microsoft's reinforcement of market entry barriers; Microsoft's "normal business practice" defense; and cumulative damage to consumers' interests.The book's ultimate legal and economic assessment clarifies ways in which government competition authorities can select from globally available options on a case-by-case basis, enforce re-pricing measures, avoid belated remedies, and continuously monitor new types of anticompetitive conduct.In its analytic rigor, focus on important economic issues, and its unwavering commitment to fair competition, this book will be of immeasurable value to practitioners and policymakers at every level concerned with the digital network economy, now and in the years to come.

This comprehensive guide to all the essential legal and business considerations in financing the business activities of the modern corporation. Readers are provided with a clear and concise introduction to the legal and contractual framework that governs the major capital raising transactions in which a firm might be involved, with a particular emphasis upon the federal and state securities laws. An indispensable resource for consummating any private investment transaction, public offering, or commerical loan transaction, as well as dealing with disclosure requirements, the structuring of underwriting arrangements, and complying with public company responsibilities. Intended for entrepreneurs and managers at firms of all sizes.

Erster Teil: Zu den allgemeinen Lehren des einstweiligen Rechtsschutzes.- Zweiter Teil: Die Gewahrung einstweiligen Rechtsschutzes durch den Gerichtshof der Europaischen Gemeinschaften.- Dritter Teil: Nationaler einstweiliger Verwaltungsrechtsschutz im Widerstreit von Gemeinschaftsrecht und nationalem Verfassungsrecht.- 1. Kapitel: Darstellung neuerer Urteile des EuGH zum nationalen einstweiligen Rechtsschutz.- 2. Kapitel: Die sog. "indirekten Kollisionen" zwischen nationalem Verfahrensrecht und Gemeinschaftsrecht.- 3. Kapitel: Zulassigkeit und Grenzen der Zulassigkeit von Relativierungen grundgesetzlicher Vorgaben beim Vollzug des Gemeinschaftsrechts am Beispiel des deutschen einstweiligen Verwaltungsrechtsschutzes.- 4. Kapitel: Paradigmenwechsel in der EuGH-Rechtsprechung: Gestaltender Eingriff in den nationalen einstweiligen Verwaltungsrechtsschutz.- 5. Kapitel: Zur Erstreckung der "Suderdithmarschen"-Doktrin auf (positive) einstweilige Anordnungen: "Atlanta Fruchthandelsgesellschaft u.a../. Bundesamt fur Ernahrung und Forstwirtschaft" Rs C-465/93.- Vierter Teil: Die Gewahrung einstweiligen Rechtsschutzes im Rahmen des Vorabentscheidungsverfahrens (Art. 177 EGV).- 1. Kapitel: Gewahrung einstweiligen Rechtsschutzes und Vorlagepflicht mitgliedstaatlicher Gerichte.- 2. Kapitel: Nationales Eilverfahren und Vorabentscheidungsverfahren gemass Art. 177 EGV: Der Gerichtshof der Europaischen Gemeinschaften als gesetzlicher Richter i.S.d. Art. 101 Abs. 1 S. 2 GG.- Thesenartige Zusammenfassung.- Summary: Interim Relief and the European Union.- Council of Europe, Committee of Ministers Recommendation No. R (89)8 of the Committee of Ministers to Member States on Provisional Court Protection in Administrative Matters.

This volume continues the work of the International Academy of Estate and Trust Law in 2003 and 2004 in examining through the juxtaposition of civil and common law jurisdictions areas of fundamental importance to estate and trust lawyers internationally. Here we focus upon two themes: the definition of "family" and the impact of the expansion of the concept of "family" in law; and family fights over wills and estates that recourse family members may have in challenging an estate. The first Part, The Challenge of the "New Family" for Law, considers the "challenge" both in the inter vivos and the postmortem contexts in the United States, Canada, France, the United Kingdom, Australia and New Zealand. A particular focus is upon the dramatic expansion of the definition of family from the "traditional" nuclear family consisting of a husband, wife and their mutual children to a definition that includes unmarried heterosexual and same sex couples living together and, in some jurisdictions to new kinds of companionate partnerships that are not based on a sexual relationship. The second Part, Contesting Wills and Intestacies, examines the law in Australia, Switzerland, France, Mexico, and the United Kingdom. In its comparison of civil and common law approaches we see how the law expresses the same principle objects "protection of family and obligations towards key family members" but does so from entirely different perspectives; and where the common law which enshrined the notion of testamentary freedom is being qualified through the expanding domain of family provision legislation, the civil law which is based on codified shares and allocated responsibilities expressed through proportionate entitlements in estates, is being qualified through a range of disqualifying and varying mechanisms. This volume is the fifth of the published deliberations of the International Academy of Estate and Trust Law. It contains the work of solicitors, barristers, notaries, judges and Professors of Law in areas of Trusts, Inheritance and Succession law, Tax and Comparative law. It will be of interest to practitioners and scholars alike in the area of trust and estate law.

This volume provides an in-depth approach to issues and problems currently confronted by multi-national enterprises ("MNEs") and other large foreign investors in China at the beginning of the 21st century. The volume examines legal, business, and strategic issues for foreign investors that are seeking to enter the China market and for those foreign investors already in China and seeking to expand or reorganize their operations. The volume takes an overall approach of the large foreign investor with a long term business plan for China and proposes a basic corporate structure for this investor. The structures involves a series of wholly foreign owned enterprises, joint ventures, and representative offices all under the control and ownership of one or more investment holding companies. Each of the entities in this structure are discussed individually and as part of an overall corporate conglomerate. The volume also examines the protection of intellectual property as a basic corporate business problem that should be part of the initial planning process as the foreign investor makes its initial move into China. Too often protection of intellectual property is not considered to be a priority until violations occur in China. Some prior planning and an emphasis on protecting intellectual property rights can be advantageous and help to avoid the serious problems that can later arise. This volume is written for those business and legal managers who are given heavy responsibilities for managing a China business but who lack a background in China. Because of the great interest in China by many MNEs, many business and legal managers are moving to China or are given additional responsibilities in the US for the MNE's new China operations. Many of these persons are expected to make decisions about a China operation even though they may lack even basic knowledge about the Chinese political, legal, and business environment. This is the first book written by an American lawyer designed to address this need.

The close of the 20th century saw a remarkably high incidence of bank distress and insolvency. This book seeks to identify the causes of this ongoing financial crisis and to draw lessons for the future, with the aim of assisting developed, transition and emerging economies alike to better cope with future crises. "Banks in Distress" takes as its focus the major financial system crisis experienced by the US in the 1980s, reviewing the evolution of the US banking system and the legislative, regulatory, and monetary policies of the 1980s which set the stage for the crises that followed. The author argues that the financial difficulties in the US, and to some extent the rest of the world, were largely precipitated and exacerbated by government intervention into the American domestic economy through uncoordinated monetary and fiscal policy, as well as the uncoordinated enactment of regulatory, supervisory and enforcement legislation and policy. The book in particular examines the importance of asset valuation, asset value inflation and deflation, and capital adequacy for banking and financial services organizations, an understanding of which is crucial to the development of a coherent regulatory framework. The author considers what can be learned from the US experience and suggests the need for significant changes in the banking law and policy of most developed and emerging economies, arguing that a stable and workable financial system requires transparent, co-ordinated and proactive governmental policies in the banking, fiscal, monetary and national economic areas.

This authoritative treatise on bankruptcy fraud is an invaluable reference book for bankruptcy law practitioners, white-collar criminal lawyers, prosecutors, judges, restructuring professionals, and academicians. Bankruptcy Crimes is the only book extant on the subject and is unique in its dual perspective and analysis of criminality and bankruptcy law.

The model contract for oil and gas development known as the Production Sharing Contract (PSC) originated in Indonesia in 1966 and enjoyed over a decade of successful implementation, with minor adjustments, in several oil-producing countries. In more recent years, however, numerous problems have arisen as changes in economic realities have driven the level of private investment down. This study uses legal analysis as well as historical data to pinpoint the reasons for the initial success of the PSC and for its subsequent and persistent frustrations for investors. The author first examines the original Indonesian contract, along with the variants adopted in Malaysia and the People's Republic of China, and then proceeds to an in-depth analysis of the main clauses and their amendments and execution in all three countries. Taking into account various commissioned surveys and emerging policies and strategies espoused by both governments and industry representatives. He concludes with a detailed proposal for an overhauled contract that allows for meaningful adjustments, or even renegotiation, when the balance of interests between parties changes substantially.

Most employers know that rewarding their best workers is good business. However, the returnA" on such investment is difficult to measure, and wise employers think long and hard about two of their largest expense items - employee benefits and executive compensation. Today in the United States, under the glare of issues raised by the current financial crisis, company-sponsored benefits programs have become mere shadows of what they once were, and executive compensation has come under intense scrutiny to the point where the Treasury Department monitors it at companies receiving federal assistance. In recognition of the growing importance of employee benefits and executive compensation issues, the Center for Labor and Employment Law at New York University School of Law dedicated New York University's 59th Annual Conference on Labor to an in-depth examination of these topics. This volume of the proceedings of the 2006 conference contains papers presented at that meeting, all here updated to reflect recent developments. It also includes contributions from other practitioners and academics with extensive knowledge and experience in this specialized field of labor and employment law. Among the topics presented and discussed are the following: - the structure and adequacy of the U.S. system of providing for retirement income; - alternative models of providing retirement benefits, including a government-provided livable pension; - accounting standards as a silent regulatorA" of defined benefit pension plans; - impact and implications of the Pension Protection Act of 2006 (PPA); - benefits issues for foreign workers in the United States, both documented and undocumented; - issues for companies that adopt stock acquisition programs as an employee compensation vehicle; - recent healthcare reform proposals at the state level as pilot projects for a national system; - the ERISA preemption scheme and denial of coverage under an ERISA-governed health care plan; and - attorney conflict of interest situations under ERISA. As always, this annual conference captures valuable insights and syntheses of central labor and employment law issues in the United States and will be of great value to practitioners and academics in the field.

On December 7, 2017, final agreement was reached on the long-awaited revised bank capital rules known as Basel III. This volume presents the findings of day long symposium hosted by the Institute for Law and Finance on January 29, 2018, dedicated to explaining what has actually been accomplished, what has been left out and what it all means for financial institutions, investors and the public interest.

Global competition, technological development, and changes in banking laws and regulations are transforming the role of commercial banks and the nature of the banking business within the U.S. financial system. The earlier editions of this work have been revised and expanded to incorporate discussions of these dramatic changes and their results. The discussions of the issues have been kept as current as possible, and a solid background has been supplied to provide perspective. Emphasis has been placed on the management of commercial banks through the formulation and implementation of sound and flexible policies.

The question of what constitutes 'fraud in the transaction' with respect to international letters of credit varies considerably among jurisdictions. In proving allegations of fraud, it is crucial for the practitioner to know the relevant jurisdiction's case law, especially if wider defences such as inducement, unconscionable conduct or bad faith must be invoked. In this book, the author argues that, whereas 'fraud in the documents' is generally sufficient in cases involving commercial letters of credit, standby letters of credit demand a wider fraud exception. The central issue - how wide that fraud exception should be - is what this book explores in depth.This author compares and critically examines the application of the fraud exception in four major trade jurisdictions - the United States, England, Canada, and Australia. With an overall focus on how each jurisdiction's fraud tests treat the autonomy of standby letters of credit, she builds her arguments on such relevant sources and concepts as the following: when it can be shown that the beneficiary has 'no bona fide belief' in the validity of its claim demand guarantees; international initiatives (ICC Rules and the UN Convention on Independent Guarantee and Standby Letters of Credit); the Sztejn Rule; parameters of the 'fraud in the transaction' defence 'materiality' standard; prerequisites for injunctive relief; arguing 'fraud in the formation of the contract'; performance bond cases; applying the 'breach of good faith' defence; 'negative stipulation' in the underlying contract; and equitable versus statutory/broader notion of unconscionability. The presentation includes detailed summaries and analyses of leading cases in all four jurisdictions.

This publication provides an unparalleled comparative analysis of two "hot topics" in the field of antitrust and unfair competition law with regard to a number of key countries. The first part of the book examines the prohibition of abuse of a dominant position and globalization in relation to two broad questions: first, whether there is consistency between the approaches of different jurisdictions to the notion of abuse, and, second, whether there are too many restrictions on legal rights and business opportunities resulting from the prohibition of abuse of dominance. The international report drafted by Professor Pinar Akman reveals that there are as many similarities as differences between the approaches of the twenty-one jurisdictions studied and presented in this book. This is an invitation to read the excellent international report as well as the reports on specific jurisdictions in order to grasp the variety of arguments and approaches of this antitrust area, which may, on the surface, appear alike. The second part gathers contributions on the question of protection and disclosure of trade secrets and know-how from various jurisdictions. The need for adequate protection of trade secrets has increased due to digitalization and the ease with which large volumes of misappropriated information can be reproduced. The comprehensive international report, prepared by Henrik Bengtsson, brings together these reflections by comparing various national positions. The book also discusses the resolutions passed by the General Assembly of the International League of Competition Law (LIDC) following a debate on each of these topics, and includes proposed solutions and recommendations.

This publication represents a collection of scholarly and highly practical chapters prepared by leading experts on banking law. Important changes are taking place in the financial sectors in the Pacific Rim; vital roles are being played by Tokyo, Hong Kong, Singapore and Taipei. This volume deals with the broad policy issues entailed in the liberalization and deregulation of the banking industry and is divided into two parts. Part 1 covers liberalization and the search for an appropriate banking law model; and Part 2 deals with convergence of supervisory standards of international banking. This collection, which was designed as a broad foundation for comparative analysis of changes and reforms occurring worldwide in international banking regulation and practice, should be a useful aid to domestic and international government officials, executives of banking and other financial institutions, professionals (attorneys, accountants and other advisers) representing such institutions and academics, in trying to understand both policies and practicalities reflected by these rapid changes and reforms. A separate, but related, companion volume on international banking operations and practices has also been produced, entitled "International Banking Operations and Practices: Current Developments", which deals with the relevant legal questions regarding the changing international financial practices.

This text sets out fact patterns which trigger liability in various jurisdictions and offers helpful real-world recommendations in a lucid, straightforward manner. The chapters follow the same basic frame and guidelines for ease of comparison. The book traces the rise in the number of cross-border transactions and large insolvencies in free-market countries has brought director liability to the foreground, most notably regarding positions that span multiple jurisdictions and do not involve an active role in management. It argues that directors must be aware of the rules applicable in the countries in which they hold positions, especially where their companies face financial difficulties or insolvency. Numerous differences in the law exist, even between countries close in proximity and those which speak the same language and share the same legal history. The cost of failure to conform to applicable laws may be dire. The text draws attention to the numerous factors that hamper access to the applicable rules such as the lack of a multi-national treaty dealing in depth with insolvency, corporate restructuring, or directors' liabilities; the lack of unity in applicable sanctions; the complex and numerous sources of jurisdictional rules (the Insolvency Act, the Corporations Act, and the Criminal Code, or some combination); the lack of jurisdictional consistency in classifying a particular behaviour as illegal; the significant role of a constantly evolving body of case law; and the instructions imposed on public prosecutors by governmental bodies. Lawyers and business people should be able to appreciate this clear, practical guidance in a particularly challenging area of the law.

Liberalisation in the power sector is high on the agenda of policy makers, regulators and the industry around the world. There is growing recognition of the benefits of power market liberalisation and the need to further integrate regional markets in a liberal trade and investment environment. This volume brings together articles written by leading experts in the field of electricity, trade and regulation in Europe. Organised in two Parts, the contributions cover a range of issues from market structure, trade flows, infrastructure and investment to the regulatory framework within which the industry operates, including international trade rules and national technical, environmental and regulatory regimes. These are complex and sensitive issues requiring an in depth understanding of the economics and regulation of electricity trade and the primary object of this volume is to contribute to an informed debate on the subject. To this end, the contributors demonstrate how a competition-friendly and liberal environment for electricity trade, including a system of nondiscriminatory and transparent access to transmission and distribution networks, could contribute to improving market integration, economic efficiency, supply security and environmental health.