International Competition Law and Practice Essay

International Competition Law and Practice - Essay ExampleCompetition should be healthy and fair. It becomes unfair and subject to scrutiny when few firms attempt to drive their competitors out of the market. This is why there comes the need to regulate the anti-competitive behavior by companies. Competition law achieves this purpose and maintains market competition.Among the member states of the European Union, there is a set of treaties which are known as Treaties of the European Union. Among these treaties is the Treaty on the functioning of the European Union. Article 101 of this treaty prohibits the composition of cartels and other conformitys that have the potential of disrupting free competition in the internal market of European Economic Area.e. make the conclusion of contracts subject to acceptance by the other parties of supplementary obligations which, by their nature or according to commercial usage, have no connection with the subject of such contracts.In the European discipline Carbon Gas Technologie,1 several companies joined together in an agreement under which they decided to exploit coal deposits in a much effective manner. They agreed on using these reserves in a manner that is much less harmful to the environment. Some cases, like KSB/Goulds/Lowara/ITT,2 involve only economical elements but they are allowed as they pass a fair share of the benefits on to the consumer. But in the case of ARA, ARGEV, ARO,3 environmental benefits were not discussed under the touchstone of fair share for consumers. As far as environmental benefits are concerned, preventive measures are also regarded as contributions to the protection of environment.4 In 1994, the Commission allowed an agreement between Exxon and Shell under which ethylene was no longer required to be transported between the two companies. It was because the transport of ethylene is harmful for the environment. The case of Philips Osram5 is some other example of cases in which reduction o f negative externality is taken into