EU COMPETITION LAW Essay Example | Topics and Well Written Essays - 2500 words

EU COMPETITION LAW - Essay Example For a better understanding, the paper will first approach the legal interpretation of concurrence of wills as provide for in Article 81 of EC. Introduction: Understanding Concurrence of Wills as Per Article 81 of EC The EU competition law does not any distinctions otherwise referred to as formalistic between any two varied forms of collaboration within the provisions of Article 81 of the EC law. One may find reference to this in the case involving Volkswagen v Commission1. The concept of agreement, within the interpretation of this article, on the existence of the concurrence of wills, explores different possibilities of trade and sales relations between two or more parties. The article provides that form in which the concurrence of wills manifests itself remains vital provided it is in utmost good faith by parties involved (Office of Fair Trading, 2010, p. 12). In other words, the article also implies that courts shall construe agreements to mean concurrence of wills. One may also i nterpret the article to understand agreements as to mean existence of a common intention between two or more parties. ... Convergence of interest to promote commerce within the provisions of accepted form of competitions such a mergers and collusions. The EU Article 81 interprets collusion in terms of jurisdiction functions rather than in substantive function. The problem is that collusion, under Article 81, does not hold given that it is never jurisdiction in many cases but substantive. Provisions of Article 101(1) TFEU The Treaty on the Functioning of the European Union, Art 101(1) TFEU, takes any agreements between undertakings, decisions by association of undertakings and concerted practices to mean agreements. For better understanding, the article also takes such agreements to mean Horizontal Corporation. In addition to that, clarification, the article also defines Horizontal Corporation to mean any agreement into which actual competitors or potential competitors enter. The article also covers two companies that deal in the same line of the product, though, in different geographical conditions (Off ice of Fair Trading, 2010, p. 21). For the purposes of Art 101(1) TFEU, one expects the article to assess an agreement between undertakings. This is because an agreement is capable of affecting trade between member states. The article assess whether an agreement has elements of an anti-competitive object on competition. It also assesses whether an agreement an actual or potential restrictive effect on competition. In case a court determines an agreement as restrictive of competition within the provisions and interpretation of Article 101 (1), then Article 101 (3) comes into force. The function of article 101(3) is to assess the extent to which the agreement may provide for pro-competitive advantage over the restrictive nature so determined under Article