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How relevant has the concept of the 'rule of reason,' developed in United States anti- trust law, been to the particular circumstances of EC competition law?
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Competition Law Q. How relevant has the concept of the 'rule of reason,' developed in United States anti- trust law, been to the particular circumstances of EC competition law? Is Regulation 1/2003 and the devolution of power away from the Commission likely to make any difference to this position? The nature of Article 81 (1)1 requires that the agreement, decision, or concerted practice has the object or effect of preventing, restricting or distorting competition in the common market. Article 81 (1) captures all agreements or concerted practices whose object is to restrict trade. However, a problem facing the future of competition law in the Community is the fact that some agreements, although restricting trade, may have characteristics that would enhance trade. The Commission and the European Court of Justice (ECJ) have blocked these types of agreements in the past, which is all set for change with the implementation of Regulation 1/2003. However,...
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