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refers to the framework of rules and regulations designed to foster the competitive environment in a national economy. It consists of measures intended to promote a more competitive environment as well as enactments designed to prevent a reduction in competition.
broadly refers to all laws, government policies and regulations aimed at establishing competition and maintaining the same. It includes measures intended to promote, advance and ensure competitive market conditions by the removal of control, as well as to redress anti-competitive results of public and private restrictive practices.
Productive efficiency – Firms use the least cost production techniques to produce maximum possible goods and services from given inputs
Allocative efficiency – Resources are channeled to those sectors where they are best utilized in order to produce goods and services that are valued most highly by consumers
Dynamic efficiency – Firms strive to maintain their competitiveness by investing in Research and Development, innovation, marketing and management to keep abreast of the changes in technology, preferences and products.
To promote economic efficiency, which comprises three (3) components
To promote competitiveness in both and domestic and foreign market
To correct market failure
To achieve higher economic growth
To enhance consumer welfare
otherwise known as An Act to Prohibit Monopolies and Combinations
in Restraint of Trade.Recovery of treble damages for civil liability arising from anti-competitive behavior .
Intellectual Property Code of the Philippines (R.A. 8293)
The State shall regulate or prohibit monopolies when the public interest so requires. No combinations in restraint of trade or unfair competition shall be allowed.
The 1987 Philippine Constitution Article XII, Section 19 of the Constitution
defines and penalizes monopolies and combinations in restraint of trade and provides penalties such as imprisonment (prision mayor) of six years and one day to twelve years or fine ranging from Two Hundred Pesos (P200.00) to Six Thousand Pesos (P6,000.00) or both
Article 186 of the Revised Penal Code (R.A. 3815)
provides for consumer product quality and
safety standards
Consumer Act of the Philippines (R.A. 7394)
which came into effect in August 1950, also allows the collection of damages arising from unfair competition in agricultural, commercial, or industrial
enterprises
Civil Code of the Philippines (R.A.386)
Enforcement and regulation or monitoring of unfair trade practices and anti-competitive behavior are vested in numerous agencies.
defines and identifies
illegal acts of price manipulation (such as hoarding,profiteering and cartels)
Price Act (R.A. 7581)
The Act proscribes the manipulation of security prices and insider trading. The corporation and securities laws are particularly relevant for evaluating vertical or horizontal cartels or arrangements.
Securities Regulation Code (R.A. 8799)
provides for the rules regarding mergers and consolidations, and the acquisition of all or substantially all the assets or shares of stock of corporations.
Corporation Code of the Philippines (Batas Pambansa Blg. 68)
Republic Act No. 165