Competition Law

Competition law covers the legal rules that regulate the behavior of enterprises in order to ensure free competition in the market and to increase economic efficiency. This area aims to protect the interests of consumers by emphasizing practices that prevent competition.

The purpose of competition law is to prevent agreements, decisions and practices that prevent, distort or restrict competition in the goods and services markets and to prevent the undertakings dominating the market from abusing their dominance, and to ensure the protection of competition by making the necessary regulations and inspections for this.

Today, competition laws and authorities exist in many developed countries that have adopted the liberal economic system.

Here are some key things you need to know about competition law:

1. Definition and Purpose:

– Competition law is a legal principle developed to regulate market relations, ensure economic stability and protect consumer rights. Its main purpose is to promote free competition and prevent cartelization.

2. Basic Principles:

– The basic principles of competition law include preventing the abuse of market power, preventing unfair competition and limiting monopoly-constituting behavior.

3. Competition Violations:

– Cartel Formation: It is when two or more businesses limit competition by setting prices.

– Monopoly Power: When a single business has a dominant position in the market and hinders the activities of other businesses.

– Unfair Competition: Behaviors contrary to competition rules are practices that aim to harm other businesses.

4. Competition Authority:

– The task of protecting and supervising competition is generally carried out by the Competition Authority. The Authority conducts investigations, imposes penalties and makes decisions on competition violations.

5. Competition in Tenders:

– Ensuring competition in public and private sector tenders is critical for effective service delivery. If regular competition is not ensured in tenders, results such as increased prices or decreased quality may occur.

6. Intellectual Property and Competition:

– Intellectual property rights should be regulated in accordance with competition law. Elements such as patents, trademarks, and copyrights can restrict competition, so it is an area to be aware of.

7. Prevention of Competition:

– Anti-competitive behaviors may be met with initiation of legal proceedings. For example, situations such as price adjustments, market distribution, and abuse of market leaders.

8. Penalties for Competition Law Violations:

– Companies that are found to have violated competition may be subject to serious penalties by the Competition Authority. These penalties may result in financial and administrative liabilities.

9. International Competition Law:

– Competition law should be supervised not only at the local level, but also internationally. Since the differences between the regulations in different countries will affect the activities of global companies, cooperation at the international level becomes important.

10. Consumer Protection:

– Competition law also plays an important role in protecting consumer rights and increasing the diversity of options offered to consumers.

Competition law is an indispensable field to ensure the effective functioning of the market economy, to protect consumer rights and to ensure sustainable economic growth. Seeking professional advice in case of competition law violations is very important to protect the rights of both companies and individuals.

As Terlemez Law Firm, we provide professional services to our domestic and foreign clients within the scope of competition law with our expert lawyer staff.