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competition law

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The branch of law concerned with the regulation of anticompetitive practices, restrictive trade practices, and abuses of a dominant position or market power. Such laws prohibit cartels and other commercial restrictive agreements. In the UK the Competition Act 1998 and the Fair Trading Act 1973 contain the legislative provisions. Throughout the EU, Articles 81 and 82 of the Treaty of Rome and regulations made under those provisions contain the legal rules in this area, which constitute EU competition law. In the USA competition law is known as antitrust law.

Subjects: Law

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