Introduction
The adoption of the new Guidelines on the Application of Art.81(3) of the Treaty (hereafter "the Guidelines") illustrates that the European Commission’s (hereafter “the Commission”) approach to Article 81 EC has involved greater use of sensible economic analysis. There is now an emphasis on consumer welfare and ensuring an efficient allocation of resources. Hence, it should not be thought that too many agreements which are not anti-competitive are still prohibited.

Article 81(1)
The key features of the Guidelines, with regards to Article 81(1) are: first, the explicit counterfactual against which the Commission will assess whether competition may be restricted. Second, the provision of a number of principles for assessing whether an agreement has its object or effect the restriction of competition.

The Counterfactual
The assessment on whether an agreement restricts competition must be made within the actual context in which competition would occur......

Join Now to view the rest of this term paper!
Members: Login to view this research paper.

Title: Art 81 Competition Law
Approximate Word Count: 2236
Approximate Pages: 9 (250 words per double-spaced page)

With the Term Papers Lab Membership Pass, you get instant access to every essay on this site, including this essay on Art 81 Competition Law, for as long as you remain a member.

Other essays sites charge almost $100 for a single term paper. At Term Papers Lab, you can get instant access to over 100,000 research papers for as little as $29.95!