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Bachelor Thesis from the year 2010 in the subject Business economics - Law, grade: 1, University of Linz, course: Bachelorseminar, language: English, abstract: According to Black’s Law dictionary, competition is the struggle for commercial advantage. The efforts taken of companies to achieve the respective commercial advantages can be – especially in a free market economy – ample. Let's illustrate this fact by the following examples: Suppose that a automobile manufacturer, incensed by a car magazine’s constant ridicule of its cars, launches a rival magazine with a similar name and layout, copies the other paper's stories,lures away the employees, advertisers and subscribers of the other magazine by offering them higher wages and lower advertising and subscribing rates and finally succeeds in running its critical opponent out of business. Has the automobile manufacturer engaged in any unfair trade practices for which the owners of the car magazine may seek legal remedy? Or has the manufacturer acted in a permissible way to the magazine’s attack? Furthermore, could the magazine be said to have engaged in an unfair trade practice by permanently ridiculing the cars and its manufacturer2? How can a merger between two or more businesses which are on the same market level and which manufacture similar products in the same geographic region influence consumers? What if two competitors agree in the artificial setting of prices at a certain level, contrary to the workings of the free market? Do consumers have legal remedies against companies who engage in false advertising or who distribute faulty and dangerous goods? The body of law which deals with these subjects is known as competition law, which can broadly be divided into Consumer Protection Law and unfair trade practices on the one hand and antitrust-law on the other hand. The bachelor thesis at hand takes the reader to a journey through competition law with a special insight into Unfair Trade Practices. After the study of the bachelor thesis the respective reader should be able to generally orientate him- or herself in this highly practice-oriented field of law.
Compares United States and foreign laws on industrial trusts, monopolies, and unfair competition.
"Unfair trading practices" is generally defined as consisting of deceptive, fraudulent, or otherwise injurious conduct, referring to practices that directly affect consumers or competitors. In business-to-consumer relationships, unfair trading practices may involve misleading claims and advertising, conditional selling, excessive pricing, discriminatory pricing, and other misrepresentations. In business-to-business relationships, the prohibited conduct may be trade mark infringement, misappropriation, false advertising, bait-and-switch sales tactics, unauthorized substitution of brands of goods, use of confidential information by a former employee to solicit customers, theft of trade secrets, breach of a restrictive covenant, trade libel, and false representation of products or services. In this edition of the Comparative Law Yearbook of International Business, practicing lawyers from Argentina, Austria, Brazil, China, Germany, Italy, Japan, Poland, South Africa, South Korea, Sweden, the United Kingdom, the United States, and the European Union examine unfair trading practices in their respective jurisdictions.
The book delineates, with extraordinary clarity and precision, the working of unfair competition law throughout the European Union. Its four comprehensive chapters encompass: basic considerations of definition, subject matter, enforcement, and applicable law: international provisions under the Paris convention, TRIPS, and WIPO model law; analysis of relevant EC directives and regulations and ECJ jurisprudence; and extensive discussions of the national unfair competition laws of all 25 Member States. For each Member State, specific topics covered include such considerations as the following: sources of law; competition law in a nutshell; regulation of advertising; direct marketing; sales promotion; risk of confusion; disparagement, defamation; misappropriation, imitation; impediment of competitors; and breach of the law. The author also provides a selected bibliography of sources for each country. It would be difficult to find a more useful analysis of European Unfair Competition Law than this systematic study. It is practical, thorough, clarifying, and readable, all at the same time. The author untangles the most complex of apparent contradictions with impressive skill. Copies of this book will quickly take their places on the working shelves of interested practitioners, academics, and officials throughout Europe.
Although it is commonly assumed that consumers benefit from the application of competition law, this is not necessarily always the case. Economic efficiency is paramount; thus, competition law in Europe and antitrust law in the United States are designed primarily to protect business competitors (and in Europe to promote market integration), and it is only incidentally that such law may also serve to protect consumers. That is the essential starting point of this penetrating critique. The author explores the extent to which US antitrust law and EC competition law adequately safeguard consumer interests. Specifically, he shows how the two jurisdictions have gone about evaluating collusive practices, abusive conduct by dominant firms and merger activity, and how the policies thus formed have impacted upon the promotion of consumer interests. He argues that unless consumer interests are directly and specifically addressed in the assessment process, maximization of consumer welfare is not sufficiently achieved. Using rigorous analysis he develops legal arguments that can accomplish such goals as the following: replace the economic theory of ‘consumer welfare’ with a principle of consumer well-being; build consumer benefits into specific areas of competition policy; assess competition cases so that income distribution effects are more beneficial to consumers; and control mergers in such a way that efficiencies are passed directly to consumers. The author argues that, in the last analysis, the promotion of consumer well-being should be the sole or at least the primary goal of any antitrust regime. Lawyers and scholars interested in the application and development and reform of competition law and policy will welcome this book. They will find not only a fresh approach to interpretation and practice in their field – comparing and contrasting two major systems of competition law – but also an extremely lucid analysis of the various economic arguments used to highlight the consumer welfare enhancing or welfare reducing effects of business practices.

Unfairness

United States. Congress. Senate. Committee on Commerce, Science, and Transportation

Published: 1980

Total Pages: 254


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