A cartel is a group of independent companies which join together to fix prices, to limit production or to share markets or customers between them. These companies can even conspire on product quality or innovation. Cartelists agree upon specific terms and course of action that they will abide by instead of competing with each other.
National and cross-border cartels are still attractive to many since they can bring higher profits than competition. For example, these practices can even allow to the cartel members to request from their purchasers and final consumers prices above the market level, thereby increasing their own profits. Another benefit for cartelists is having lower costs.
In the European Union, Article 101 TFEU prohibits all anti-competitive agreements and concerted practices between two or more independent market operators which have as their object the prevention, distortion or restriction of competition within the internal market. The cartel prohibition is of high significance in EU competition law, especially in recent years, and aims at protecting the internal market from such practices.
If a business is caught up in potential cartel or anti-competitive conduct, senior management must make difficult decisions fast. The accumulated knowledge from our long-term involvement in antitrust and competition, business ethics, litigation and disputes and employment law is the comparative advantage of “Oikonomakis Law”. Besides having the necessary legal background, we also have the necessary experience and expertise.
Take advantage of the valuable insights provided by our strategically tailored attention to many areas, as we understand trends, challenges and key players, thus, providing you with key information to guide your decisions.
At “Oikonomakis Law” with Strategy, Planning, Appropriate Human Resources and Expertise we are ready 24/7 to respond to your every business, investment and personal inquiry by providing legal advice and solutions to even the most complex issues you face. With more than 25 years of experience in the field, we can provide consultation and legal services seamlessly and across borders with a solution-based approach and professionalism.
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