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Commerce : Competition When negotiating and drafting commercial agreements it is vital that the potential effect of competition law is considered. Failure to keep within the permitted limits imposed by the law may lead to fines of up to 10% of turnover and the agreement in question being declared void. Competition law needs to be considered both at a UK and an EU level. If necessary steps may be taken to obtain clearances from the relevant authorities in relation to a proposed transaction although generally speaking it is often possible to draft agreements so that they fall within the permitted boundaries imposed by the legislation. We can also assist in the preparation of a competition law compliance programme for use within your business and the training of staff on the implications of the law in this area. In the event that the authorities do investigate any contract or course of dealing we can advise and assist to ensure that you do not unnecessarily prejudice your position by incomplete, inaccurate disclosures or replies to enquiries. |
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