cartel definition
cartel means an agreement or concerted practice between two or more competitors aimed at coordinating their competitive behaviour on the market or influencing the relevant parameters of competition through practices such as, but not limited to, the fixing or coordination of purchase or selling prices or other trading conditions, including in relation to intellectual property rights, the allocation of production or sales quotas, the sharing of markets and customers, including bid-rigging, restrictions of imports or exports or anti-competitive actions against other competitors;
cartel means a cartel as defined in clause (c) of Section 2 of the Act;
cartel means any verbal, written, express or implicit agreement in virtue of which two or more competitors agree not to compete against each other.
More Definitions of cartel
cartel means an agreement and/or concerted practice between two or more undertakings – competitors on the relevant market, aimed at restricting competition through price fixing or fixing pricing conditions for purchase or sale, allocation of production quotas or sales or allocation of markets, including in rigging of public bids or tenders or public procurement award procedures.
cartel means an agreement or concerted practice between two or more competing undertakings aimed at coordinating their competitive 25
cartel means a group of business persons which combine to control the production and marketing of petroleum products to avoid competition with one another;
cartel means an agreement or concerted practice between two or more competitors aimed at—
cartel means any implied or verbal agreement in virtue of which two or more competitors agree not to compete against each other.
cartel. , in the simplest terms, means an arrangement or understanding between similarly placed firms in the market to „not compete‟.1 This, in turn, robs the market of the very benefits competition is said to provide in the form of low prices, better and innovated products, and increased choices. Oligopolistic firms may choose to enter into a cartel arrangement to increase their market power. The profit maximizing decision of the cartel is akin to that of a monopolist and leads to similar negative effects including allocative inefficiency, productive inefficiency and dynamic inefficiency.2 Cartels have the most direct impact on consumers as they face increased prices and reduced supply of products or services.3 The impact of cartels becomes multifold when the same is considered in developing economies,4 and especially with respect to small and medium enterprises. Since, the objective of a cartel is to limit or eliminate competition between competing firms and increase profits of the constituent members, without “producing any objective countervailing benefits”,5 many jurisdictions of the world consider cartels as per se illegal. As per Section 3(3) of the Indian Competition Act, 2002 [“ICA”], cartels are presumed to have appreciable adverse effect on competition [“AAEC”] and therefore, the Commission is not required to
cartel means an agreement or concerted practice between two or more competing undertakings aimed at coordinating their competitive behaviour on the market or influencing the relevant parameters of competition through practices including the following: