Extraterritorial Application of Competition Law: Different Angles – Same Conclusion

Abstract

Different interests of countries, economic implications, consolidation between international trade and competition and the sovereign rights of countries brought a complex issue. Therefore, an odd situation for competition law have arisen – how can different competition laws of different countries protect their local markets from anticompetitive harm which is caused by the conduct of foreign companies, while the conduct of their large businesses (national champions) abroad can bring substantial welfare and development for their local economies. The examples of extraterritorial application of competition law, measures taken and propositions on how to address this dilemma will be considered in this article.

Keywords: extraterritorial competition law, application to foreign conducts, U.S. Antitrust law, EU competition law, sovereign rights, economy, trade barriers, development

JEL Classification: K21, K33