What is the European Union’s approach to antitrust law?

The European Union (EU) has a comprehensive and unified approach to antitrust law. The general concept behind the antitrust law in the EU is that competition in the market should be fair and open for all, so no single company can take over the market and dominate it. To achieve this goal, the EU has laws that protect consumers from anticompetitive practices, such as price-fixing, market sharing and exclusionary rulers. The European Commission is the main body enforcing the EU’s antitrust law. It aims to prevent companies from abusing their power or taking advantage of small businesses. The Commission takes a stricter approach to large companies, as it believes these companies can use their power to restrict competition and harm consumers. The Commission has the authority to impose fines on companies that breach antitrust law and can force them to change their practices. The Commission also works closely with national competition authorities, as they have the power to investigate national anti-competition violations. In addition to the antitrust law, the EU has set up other protections for consumers, such as the Consumer Rights Directive and Unfair Commercial Practices Directive. The Consumer Rights Directive protects consumers by requiring companies to provide clear information about the goods and services they offer, while the Unfair Commercial Practices Directive aims to ensure businesses are competing fairly and do not take advantage of consumers. These laws and measures are in place to make sure that consumers are protected from businesses that abuse their power.

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What is the European Union’s approach to antitrust law?

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