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            <div class="dfb_head gen_head">&nbsp;<div class="dfb_head_title"><h2 class="dfb_color">Documents for Business</h2>In excess of 1,000 customisable documents covering every conceivable business issue.</div></div>            	<div class="grid_8 alpha"><div class="doc_box shadow borderSolid"><h2 class="doc_header borderBottom dfb_color dfb_border">Introduction to this document</h2><div><h1 class="Introtitle"><span>Competition law</span><span> summary</span></h1><p class="Introintroduction"><span>The penalties for falling foul of competition law can be significant. Our summary gives you the facts, as well as tips </span><span>on</span><span> what to look out for. </span></p><h2 class="Introsubtitle1"><span>The prohibitions</span></h2><p class="Introbody"><span>Competition law seeks to create a level playing field in business by prohibiting anti-competitive practices.</span><span> </span><span>It prohibits anti-competitive agreements, abuse of a dominant position in the market and engaging in a cartel. The penalties for infringement can be severe. Businesses can be fined up to 10% of their annual worldwide turnover and ordered to change their behaviour. Individuals involved can be imprisoned, fined and disqualified as a director. </span></p><p class="Introbody"><span>More than </span><span>75%</span><span> of businesses surveyed by the government in 2018 reported low awareness and understanding of competition law (</span><a href="https://tinyurl.com/qgw6vld" style="text-decoration:none"><span class="Hyperlink">https://tinyurl.com/qgw6vld</span></a><span>). </span><span>Use our summary to make sure your business isn’t one of them. </span></p></div></div></div><div class="grid_4 omega"><div class="doc_box roundBig borderSolid metadata"><h3 class="doc_header borderBottom dfb_color dfb_border">Document</h3><div class="borderSolid shadow floatLeft"><img src="https://d3sxy2z0ijo7zx.cloudfront.net/alf/uk/thumbs/401/372401.png" alt="Competition law summary" /></div><div class="clear"></div><div class="centerText"><a href="/login/documents_for_business/tax_and_business/documents__letters_and_contracts_for_business/company_and_partnership_documents/competition_law_summary/models/doc-kt_7390_372401_372309" class="roundBig doc_download">Download now</a><a href="#" class="small dfb_color" id="altdownload">Problems downloading ZIP files?</a></div><span class="docdate floatLeft">04.12.2018</span><div class="clear"></div><div><strong>File size:</strong> 66.00K</div><div class="floatLeft"><strong># Pages:</strong> </div><div class="floatRight"><strong>Format:</strong> <img src="/images/documents/ico/doc.gif" alt="Word document" title="Word document"/></div><div class="clear"></div></div><div id="reldocs" class="doc_box roundBig borderSolid doc_rel"><h3 class="doc_header borderBottom dfb_color dfb_border">Related documents</h3><ul class="ul_doc_rel"><li><a href="/documents_for_business/tax_and_business/documents__letters_and_contracts_for_business/company_and_partnership_documents/joint_ventures_summary/models/doc-kt_7390_372416_372311">Joint ventures summary</a></li><li><a href="/documents_for_business/tax_and_business/documents__letters_and_contracts_for_business/company_and_partnership_documents/director_s_service_agreement/models/doc-kt_7390_24763_4069">Director's service agreement</a></li><li><a href="/documents_for_business/tax_and_business/documents__letters_and_contracts_for_business/company_and_partnership_documents/shareholders__agreement/models/doc-kt_7390_24781_4067">Shareholders' agreement</a></li><li><a href="/documents_for_business/tax_and_business/documents__letters_and_contracts_for_business/company_and_partnership_documents/disqualification_summary/models/doc-kt_7390_367489_367333">Disqualification summary</a></li><li><a href="/documents_for_business/tax_and_business/documents__letters_and_contracts_for_business/company_and_partnership_documents/appointment_of_non_executive_director/models/doc-kt_7390_24761_4053">Appointment of non-executive director</a></li><li><a href="/documents_for_business/tax_and_business/documents__letters_and_contracts_for_business/company_and_partnership_documents/models/f-7390">More...</a></li></ul></div><div id="reldocs" class="doc_box roundBig borderSolid doc_rel"><h3 class="doc_header borderBottom dfb_color dfb_border">Recommended documents</h3><ul class="ul_doc_rel"><li><a href="/documents_for_business/workplace_and_environment/risk_assessment/construction/risk_assessment___use_of_a_mobile_jaw_crusher/models/doc-kt_7433_88027_88016">Risk assessment - 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