... heart of any successful market economy and is crucial to the protection of consumer interests and the efficient allocation of resources. Competition has several dimensions of which price is only one, albeit in many markets the most important. It fuels innovation, shocks the complacent and shakes out businesses that are too arrogant or too inefficient to provide acceptable goods and services. Most businessmen strive to maximise their market power and where they see an opportunity to control a market, they will take it. Taking proper advantage of a market position has never been outside the law, but time has run out for businesses which have become used to getting together to fix prices, rig markets or take unfair advantage of a dominant market position. Before the Competition Act 1998, competition law in the United Kingdom (UK) had to be searched for in the complex web of case law and individual ...

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