Eu competition law

At the first look, there appears to be much in common between competition law in the European Union and competition law in United States. European Union and United States systems of competition laws have common objectives. Both systems seek to protect interests of consumers together with taking care of free flow of goods in a competitive economy. Competition laws in both systems should protect competitor’s access to a market in order to have functioning competition and possibility for customer to choose a product. Competition law in European Union that deals with monopolies is covered by Article82. Article 82 of EC treaty prohibits abuse of dominant position. Similar function in United States has section 2 of Sherman Act, which prohibits monopolization and attempts or combinations to monopolize any sector of interstate or foreign trade.