What is Restrictive Trade Practice : The Restrictive Trade Practices Act 1956 was an act of the Parliament of the United Kingdom intended to enforce competition, and provide an appropriate check on restrictive combines and practices. It required that any agreement between companies that restricted trading should be placed on a public register unless granted…
Anti-competitive agreements are agreements among competitors to prevent, restrict or distort competition. Section 34 of the Competition Act prohibits agreements, decisions and practices that are anti-competitive. A particularly serious type of anti-competitive agreement would be those made by cartels. A typical example of anti competitive horizontal agreement would be agreement between two manufacturers of coal…
INTRODUCTION The employment of various dishonest, fraudulent, or immoral ways to gain business is referred to as unfair commercial practises. Misrepresentation, fraudulent advertising or representation of an item or service, tied selling, bogus free prize or gift promises, deceptive pricing, and noncompliance with manufacturing standards are all examples of unfair commercial practises. Such practises are…
In this article, today I will discuss the different types of trademarks as it is a very vast and significant topic. The article focuses on the basics and technicality of the topic. Many of us in day-to-day life buy goods according to the brands and marks printed on them, Like Puma, Adidas, etc. in shoes…
INTRODUCTION Competition act , 2002 is the product of various experiments carried out in the Indian economy. It has a key role in strengthening the pace of competition law which is a law that promotes or seeks to maintain market competition by regulating anti-competitive conduct by companies. Competition law is implemented through public and private…
INTRODUCTION The Monopolistic and Restrictive Trade Practices Act, 1969, was enacted to ensure that the operation of the economic system does not result in the concentration of economic power in the hands of few people. MRTP Act came into existence on 1 June, 1970. The Monopolies and Restrictive Trade Practices(MRTP) Act, 1969, aims at preventing…
Generally unfair trade practices may include illegally refusing any transaction, deceptively soliciting customers, disrupting business activities of the rivals unfairly, unfairly excluding competitors. In the new corporate and business world today where there is cut throat competition the business persons daringly use unfair trade practices to edge over the other. This may give them advantage…
Abuse of a prevailing position happens when a predominant firm in a market, or a predominant gathering of firms, takes part indirectly that is planned to wipe out or discipline a contender or to dissuade future passage by new contenders, with the outcome that opposition is forestalled or diminished significantly. An undertaking in a predominant…
Competition is an inevitable part of the business world for businesses of any size. It is not a necessary evil, but rather an important part of the business ecosystem. In fact, competition can be an effective tool for growing and improving your business. Competition policy is about applying rules to make sure businesses and companies…
The expression unfair trade practices can be characterized as any business practice or act that is underhanded, fake, or makes injury a buyer. These practices can incorporate demonstrations that are considered unlawful, for example, those that abuse a purchaser security law. A few instances of uncalled-for exchange techniques are the bogus portrayal of a decent…
