General Competition Regime
Competition law includes the unfair competition regime and the free competition regime, which sometimes are not taken into account in the ordinary course of business, such as:
• Agreements or arrangements that directly or indirectly aim at limiting the production, supply, distribution or consumption of raw materials, products, goods or domestic or foreign services, and in general, all kinds of practices, procedures or systems tending to limit free competition and to maintain or determine inequitable prices.
• Agreements between two or more companies that prevent, restrict or distort competition.
• Unilateral acts carried out by companies
• Abusive conducts of dominant position
These two (2) regimes that make up competition law have different legal sources, and the reason for this is that their purpose is to protect different rights. On the one hand, unfair competition, based on the concept of good commercial faith, seeks to develop a general prohibition which includes the sound commercial customs and honest uses of the market to act in industrial or commercial matters.
On the other hand, free competition will be the power of any businessman to direct his efforts and resources to conquer a given market, within a framework of equal conditions.
Importance and benefits of acting in accordance with competition law.
Compliance with competition law rules is a fundamental element of the most valuable and influential for the durability and reputation of the company, so its senior management should take into account the monitoring of legal and ethical provisions for compliance in an effective manner.
It is increasingly necessary to implement corporate protection programs for compliance with competition law, giving them multiple benefits, such as, but not limited to, risk prevention, early evidence of possible breaches and violations, generating security in the market, preventing criminal investigations, prevention of inabilities, among others, thus protecting your company economically, as well as corporate reputation.
Viable service proposal and perfectly balanced price and cost.
It is for this reason that from Mazars we can accompany and advise you in the implementation of the competition compliance program, so that, in this way, your company complies with the legal provisions, promoting an environment of compliance in order to protect free economic competition.
Want to know more?
Carlos Andres Molano Camelo Managing Partner Colombia Bogota
