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Competition law exists to ensure businesses are competing on a level playing field. Fair competition is good for business: it protects them from anti-competitive practices like price fixing and drives productivity, efficiency, and innovation.
It's good for customers because organisations try harder to understand their customers better, set competitive prices, and to continuously improve goods and services.
The penalties involved in anti-competitive activity can be severe. Individuals could face fines, prison, and other penalties. Organisations avoid the risk of financial penalties, as well as significant damage to a companys reputation.
This online training course for employees provides a comprehensive overview of Competition Law and what it means to people working in business. It will give you an overview of what activities to avoid and how to spot the signs of anti-competitive behaviour such as bid rigging, market sharing and price fixing; its also describes a few seemingly innocent situations where anti-competitive activities can happen.
You've also looked at the regulators recommended four stage process for managing anti-competitive risk.
- Learn what the Competition Act of 1998 and The Enterprise Act of 2002 cover
- Familiarise yourself with the terms contained in the Acts
- Be able to spot signs of anti competitive behaviours
- What to do if you suspect illegal activity in your organisation