TRENDS IN DEVELOPMENT OF EUROPEAN UNION COMPETITION LAW
TRENDS IN DEVELOPMENT OF EUROPEAN UNION COMPETITION LAW

Summary/Abstract: This paper elaborates the market mechanisms and rules which appropriate application allows normal functioning of markets that do not limit, impair, or prevent fair competition. The research is focused on the basic role and purpose of competition law, which ensures proper functioning of the free market where the optimal allocation of resources is secured regarding the relation between supply and demand, rather than measures of state intervention. Competition law as an important branch of law is often being exploited for unnecessarily explaining the market concept, which is reflected in uncontrolled behavior of participants on the open market, resulting in strengthening of unfair competition, as well as endangering the welfare of consumers. Therefore, this paper represents a significant turnaround, since the research will be based on trends, focusing on the protection of market participants and consumer protection. In brief words, the paper deals with the general division of system of competition law, since the latter has its beginnings in the United States, but also because of the need for overseas trade, where it quickly has founded its application experiencing the greatest expansion in the countries of Western Europe. Paper also discusses personal, material, and the extraterritorial reach of the competition law, acquisitions, mergers, and the European Union’s “four freedoms”.

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