Jurisdiction(s):
United Kingdom

Key definition

Competition law definition

What does Competition law mean? Competition law describes the body of antitrust rules that govern business conduct which restricts competition and the review of mergers and acquisitions. In practice it addresses anti‑competitive agreements (cartels and concerted practices), abuse of dominance, merger control and enforcement. It is a descriptive term rather than a single defined concept, and draws on statute, guidance and case law. United Kingdom (England & Wales, Scotland and Northern Ireland): the principal rules are the chapter i and Chapter II prohibitions in the Competition Act 1998, and the Enterprise Act 2002 regime for merger control and the criminal cartel offence (Part...

Competition law compliance: staff handbook on cartels, dominance, horizontal and vertical agreements, red flags, competitor meetings, trade associations, intelligence gathering, penalties and reporting

Published by a LexisNexis Risk & Compliance expert

Precedents

Question Summary What is competition law?

Competition serves both consumers and companies. It highlights areas for improvement and pushes organisations to pursue higher efficiency, greater innovation, stronger productivity and, in the end, to operate as better businesses. Competition law exists to shield businesses and consumers from anti‑competitive conduct and to preserve effective rivalry. Every business must observe competition rules, and breaches can carry severe outcomes for firms and individuals, including directors. Non‑compliance can be costly and damaging at both organisational and personal levels too.

Possible penalties include:

Substantial fines
Prison sentences
Director disqualification
Damage to reputation

When is it an issue?

Competition law can arise in three principal settings: cartels — typically horizontal arrangements in which two or more businesses, whether by written agreement or otherwise, decide not to compete with one another. Cartels are the gravest form of anti‑competitive agreement. They cover accords to fix prices, rig bids, cap output, and divide customers or markets. A cartel can also exist where information is shared unilaterally, or where businesses reveal or trade commercially sensitive information. In this scenario, the central question is whether the disclosure or exchange of information materially lowers uncertainty regarding the company’s future commercial behaviour in the...

To view the latest version of this document and thousands of others like it, sign-in with LexisNexis or register for a free trial.

DOWNLOAD THIS DOCUMENT

Web page updated on 22/05/2026

Popular documents

Using the Judicial College Guidelines to assess general damages in personal injury claims

When evaluating a general damages claim, the practitioner ought initially to refer to the Judicial College Guidelines (JCG)...

Tomlin orders in England and Wales: CPR guidance on drafting, confidentiality, approval, variation, enforcement, limitation, CCA issues, court-specific requirements, sample wording and precedents

This Practice Note This Practice Note reviews mechanisms used in settling litigation. A Tomlin order consists of a consent order paired with a schedule. It operates to stay proceedings on terms that have been agreed. The provisions contained in the schedule may remain confidential. This Practice Note describes the scope of confidentiality attaching to the schedule and sets out how it differs from a standard consent order. Sample wording for a Tomlin order is included, alongside links to precedents, as well as guidance on court approval. It also addresses varying, setting aside and enforcing a Tomlin order, including the considerations the court will take into account when handling applications for each. Further guidance is provided on interpreting and applying the relevant provisions of the CPR; however, some courts and divisions impose very specific requirements for both drafting and approval, and for approaching the schedule and confidentiality issues. Accordingly, you must consider the particular rules and court guide provisions in the forum where your claim is proceeding when drawing up the Tomlin order...

Precedent: Deed of Surrender of Lease with Optional Premium, Settlement and Release, Landlord, Mortgagee and Guarantor Consents, Reimbursement and HM Land Registry Provisions (England and Wales)

Date [ date ] Parties [ name of Landlord ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Landlord) [ name of Tenant ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Tenant) [ [ name of Guarantor ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Guarantor) ] [ [ name of Mortgagee ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Mortgagee) ] Definitions Within this Deed, the terms below shall be interpreted as follows: [ Annual Rent • the annual sum reserved under the Lease; ] [ Insurance Rent • the Tenant’s share of the Landlord’s costs of insuring the Property (as set out in the Lease); ] Lease • the lease of the Property dated [ date ], entered into between (1) [ the Landlord OR [ name ...

Precedent Statutory Declaration: Standard Wording under the Statutory Declarations Act 1835

I, [ name ], of [ address ], solemnly and sincerely state that: [ Matters to be verified, set out in numbered paragraphs ] I make this solemn statement in good conscience, believing it to be true, and pursuant to the provisions of the Statutory Declarations Act 1835. DECLARED at [ details ] this [ day ] day of [ month and year ] Before me ................................................................................ [ signature of the person before whom the declaration is made ] A [ commissioner for oaths OR [ solicitor OR [ insert other qualification ] ] authorised to administer oaths ]...