(f) The legal framework

EU competition law. The principal provisions of European competition law are enacted in Articles 101 and 102 (formerly Articles 81 and 82) of the Treaty on the Functioning of the European Union, as well as Articles 103-109. Regulations that are more detailed and guidelines are found in regulations, directives, Commission notices and communications from the Commission. European competition law applies to all companies (undertakings) to the extent that they do business by offering good or services in the EU internal market and which may affect trade and competition between the Member States regardless of whether the company is established in an EU Member State or not.

U.S. antitrust law. In the U.S., the relevant laws and regulations are reflected in three federal statutes: the Sherman Antitrust Act, the Federal Trade Commission Act and the Clayton Antitrust Act. U.S. antitrust law applies to all companies and individuals doing business in the U.S. or affecting U.S. commerce.

National competition laws. National competition laws need to be considered when doing business in any country. The scope and effect of national competition laws of EU member states or the competition law of a specific U.S. state is generally similar to EU competition law or U.S. antitrust law, respectively, but can be more restrictive.