As competition affects any business, big or small, competition law is naturally relevant to every business. In broadstrokes, competition law’s relevance to a business can be divided into two distinct categories:
1. Fighting Anti-Competitive Behaviour
Anti-competitive behaviours are a reality and can cause great damage by purposefully aiming to reduce fair advantage in a market and denigrate any notion of a “fair fight” between opposing parties in a sector. Put simply, an organisation in a dominant position has the potential to abuse that market position to the disadvantage of all other competitors.
You, as a business owner, have the right to defend your business’ right to grow and compete in a free and fair market. If you are, or have been, a victim or felt the weight of unfair agreements affecting your business directly or indirectly (such as price fixing, market shares, production control, bid rigging, etc.), you are likely to be in dire need of competition law advice.
Regulatory bodies are of the utmost importance and are on your side, as are we, to enforce competition laws to avoid these types of situations.
2. Ensuring Compliance and Competing Fairly
Conversely, as a business owner you have the moral and legal obligation to ensure you are not engaging in anti-competitive practices that impinge on the rights of others to compete freely and fairly.
This is not only important in terms of avoid penalties, but also in terms of establishing and/or protecting your brand image and the public’s perception of your business, which has a direct impact on your bottom line. A positive image of your business boosts income, while an ethically questionably image drives down profits.
How We Help Businesses
Our advice deals not only with the legalities of an uber competitive global market but also emboldens businesses to better themselves and, by doing so, positively impact consumers who will find the range of their options vastly widened. Hence the importance of remaining compliant all while growing ethically within a rich business culture – this feeds the dynamism and value of a given market.
On a macro market level, competition law promotes business ethics within corporations while also creating solid, long-lasting values. By establishing good business cultures and allowing businesses to improve and develop, competition law positively impacts markets.
On a micro level, compliance with competition law strengthens individual businesses. By not leaving any stone unturned when ensuring compliance with free and fair competition, you will also remain and/or become a strong competitor in your field.
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