Handbook on European Competition Law

Handbook on European Competition Law

Substantive Aspects

Edited by Ioannis Lianos and Damien Geradin

Handbook on European Competition Law: Substantive Aspects sets the context for examination of substantive law by reviewing and analyzing the goals of competition law. It then covers the substantive building blocks of EU competition law, including horizontal and vertical agreements, cartels, mergers, and also provides valuable coverage of the interaction between competition and regulation, hub and spoke collusion, and information exchange agreements. The importance of the abuse of dominance doctrine is reflected in three discrete chapters considering exploitative abuses, exclusionary pricing abuses, and exclusionary non-pricing abuses.

Chapter 4: Vertical agreements

Gianluca Faella

Subjects: economics and finance, competition policy, law - academic, competition and antitrust law, european law

Extract

Firms operating at different levels of the production chain (for example, a supplier of raw materials or components and a manufacturer, a manufacturer and a distributor, or a wholesaler and a retailer) may enter into agreements setting forth the conditions under which the parties may purchase, sell or resell certain goods or services. These agreements, known as vertical agreements, represent an alternative to structural vertical integration: if single ownership is less costly, firms will prefer to extend their activities at different levels, through acquisitions or internal growth; otherwise, they will purchase the goods and services needed to carry out their activities on the market. In the second case, restrictions and obligations may be imposed on the parties to ensure a certain degree of coordination within the production chain.

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