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Competition law

Index Competition law

Competition law is a law that promotes or seeks to maintain market competition by regulating anti-competitive conduct by companies. [1]

207 relations: Adam Smith, Allocative efficiency, Amercement, Anti-competitive practices, Artisan, Asset forfeiture, Assizes, Association of Southeast Asian Nations, Australia, Barriers to entry, Belgium, Bertelsmann, Bohemia, Broadcast Music, Inc. v. CBS, Inc., Canada, Capitalism, Cartel, Charitable organization, Charles I of England, Charles II of England, Charles V, Holy Roman Emperor, Chicago school of economics, China, Civil liberties, Clayton Antitrust Act of 1914, Coal, Collusion, Commercial Solvents Corporation, Competition (economics), Competition Authority, Competition Commission of India, Competition regulator, Conglomerate (company), Conglomerate merger, Consumer protection, Consumerism, Continental Television, Inc. v. GTE Sylvania, Inc., Copyright, Creative destruction, Cucking stool, Darcy v Allein, Deadweight loss, Diocletian, Doha Development Round, Domesday Book, Dominance (economics), Economic liberalisation in India, Economies of scale, Edict on Maximum Prices, Edward III of England, ..., Edward the Confessor, Effective competition, Elizabeth I of England, Engrossing (law), European Coal and Steel Community, European Commission, European Council, European Economic Community, European Union, European Union competition law, European Union merger law, Externality, Extraterritorial jurisdiction, Frederic William Maitland, Free-rider problem, French Revolution, Fuel oil, Game theory, General Agreement on Tariffs and Trade, General principles of European Union law, Globalization, Government failure, Government of India, Great Depression, Green paper, Guild, Harvard Law School, Henry III of England, Henry VIII of England, Herfindahl index, Holy Roman Empire, Hong Kong, Industrial design right, Industrialisation, Innovation, Institute for Consumer Antitrust Studies, Intellectual property, International Competition Network, International Encyclopedia of the Social & Behavioral Sciences, International Trade Organization, Irish competition law, Italy, James VI and I, Japan, John Kenneth Galbraith, John Sherman, John Stuart Mill, Joint venture, Joseph Schumpeter, Justinian I, Laissez-faire, Law, Lead, Leegin Creative Leather Products, Inc. v. PSKS, Inc., Lex mercatoria, Liberalization, List of countries' copyright lengths, Long run and short run, Luxembourg, Marginalism, Market economy, Market failure, Mergers and acquisitions, Microsoft Windows, Millennium Prize Problems, Milton Friedman, Monopoly, Nation state, Natural disaster, Netherlands, New World, Norman conquest of England, OECD, Office of Fair Trading, Oligopoly, On Liberty, Panic of 1873, Pareto efficiency, Patent, Perfect competition, Peter Whelan (lawyer), Phillip E. Areeda, Pillory, Plurilateral agreement, Poverty, Predatory pricing, Price discrimination, Price fixing, Price gouging, Privatization, Production–possibility frontier, Productive efficiency, Proportionality (law), Protestant work ethic, Public service, Punitive damages, Queen's Bench, Reasonable person, Refusal to deal, Regulation (European Union), Relevant market, Resale price maintenance, Restraint of trade, Richard Posner, Richard Wilberforce, Baron Wilberforce, Robert Bork, Roman Empire, Roman Republic, Rule of reason, Russia, Share (finance), Sherman Antitrust Act, Sir Frederick Pollock, 3rd Baronet, Small but significant and non-transitory increase in price, South Korea, Soviet Union, Spectrum Sports, Inc. v. McQuillan, Standard Oil, State Oil Co. v. Khan, Statute of Labourers 1351, Statute of Monopolies, Statutory law, Steel, Supreme Court of the United States, The American Economic Review, The Antitrust Paradox, The Competition Act, 2002, The History of the Standard Oil Company, The New Industrial State, The New Palgrave Dictionary of Economics, The Wealth of Nations, Trade secret, Trademark, Treaty of Lisbon, Treaty of Rome, Treble damages, Trial court, Trust (business), Tuberculosis, Tying (commerce), United Kingdom, United States, United States antitrust law, University of Chicago, Uruguay Round, Utilitarianism, Verizon Communications Inc. v. Law Offices of Curtis V. Trinko, LLP, Vilfredo Pareto, Welfare, Welfare economics, Wenceslaus II of Bohemia, Whisky, William Searle Holdsworth, Windows Media Player, World Trade Organization, World War II, Zeno (emperor). Expand index (157 more) »

Adam Smith

Adam Smith (16 June 1723 NS (5 June 1723 OS) – 17 July 1790) was a Scottish economist, philosopher and author as well as a moral philosopher, a pioneer of political economy and a key figure during the Scottish Enlightenment era.

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Allocative efficiency

Allocative efficiency is a state of the economy in which production represents consumer preferences; in particular, every good or service is produced up to the point where the last unit provides a marginal benefit to consumers equal to the marginal cost of producing.

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An amercement is a financial penalty in English law, common during the Middle Ages, imposed either by the court or by peers.

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Anti-competitive practices

Anti-competitive practices are business, government or religious practices that prevent or reduce competition in a market (see restraint of trade).

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An artisan (from artisan, artigiano) is a skilled craft worker who makes or creates things by hand that may be functional or strictly decorative, for example furniture, decorative arts, sculptures, clothing, jewellery, food items, household items and tools or even mechanisms such as the handmade clockwork movement of a watchmaker.

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Asset forfeiture

Asset forfeiture or asset seizure is a form of confiscation of assets by the state.

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The courts of assize, or assizes, were periodic courts held around England and Wales until 1972, when together with the quarter sessions they were abolished by the Courts Act 1971 and replaced by a single permanent Crown Court.

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Association of Southeast Asian Nations

The Association of Southeast Asian Nations (ASEAN) is a regional intergovernmental organization comprising ten Southeast Asian countries that promotes intergovernmental cooperation and facilitates economic, political, security, military, educational, and sociocultural integration amongst its members, other Asian countries, and globally.

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Australia, officially the Commonwealth of Australia, is a sovereign country comprising the mainland of the Australian continent, the island of Tasmania and numerous smaller islands.

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Barriers to entry

In theories of competition in economics, a barrier to entry, or an economic barrier to entry, is a cost that must be incurred by a new entrant into a market that incumbents do not have or have not had to incur.

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Belgium, officially the Kingdom of Belgium, is a country in Western Europe bordered by France, the Netherlands, Germany and Luxembourg.

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Bertelsmann is a German multinational corporation based in Gütersloh, North Rhine-Westphalia, Germany.

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Bohemia (Čechy;; Czechy; Bohême; Bohemia; Boemia) is the westernmost and largest historical region of the Czech lands in the present-day Czech Republic.

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Broadcast Music, Inc. v. CBS, Inc.

Broadcast Music v. Columbia Broadcasting System,, was an important antitrust case decided by the Supreme Court of the United States.

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Canada is a country located in the northern part of North America.

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Capitalism is an economic system based upon private ownership of the means of production and their operation for profit.

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A cartel is a group of apparently independent producers whose goal is to increase their collective profits by means of price fixing, limiting supply, or other restrictive practices.

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Charitable organization

A charitable organization or charity is a non-profit organization (NPO) whose primary objectives are philanthropy and social well-being (e.g. charitable, educational, religious, or other activities serving the public interest or common good).

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Charles I of England

Charles I (19 November 1600 – 30 January 1649) was monarch of the three kingdoms of England, Scotland, and Ireland from 27 March 1625 until his execution in 1649.

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Charles II of England

Charles II (29 May 1630 – 6 February 1685) was king of England, Scotland and Ireland.

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Charles V, Holy Roman Emperor

Charles V (Carlos; Karl; Carlo; Karel; Carolus; 24 February 1500 – 21 September 1558) was ruler of both the Holy Roman Empire from 1519 and the Spanish Empire (as Charles I of Spain) from 1516, as well as of the lands of the former Duchy of Burgundy from 1506.

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Chicago school of economics

The Chicago school of economics is a neoclassical school of economic thought associated with the work of the faculty at the University of Chicago, some of whom have constructed and popularized its principles.

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China, officially the People's Republic of China (PRC), is a unitary one-party sovereign state in East Asia and the world's most populous country, with a population of around /1e9 round 3 billion.

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Civil liberties

Civil liberties or personal freedoms are personal guarantees and freedoms that the government cannot abridge, either by law or by judicial interpretation, without due process.

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Clayton Antitrust Act of 1914

The Clayton Antitrust Act of 1914 (codified at), was a part of United States antitrust law with the goal of adding further substance to the U.S. antitrust law regime; the Clayton Act sought to prevent anticompetitive practices in their incipiency.

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Coal is a combustible black or brownish-black sedimentary rock usually occurring in rock strata in layers or veins called coal beds or coal seams.

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Collusion is an agreement between two or more parties, sometimes illegal–but always secretive–to limit open competition by deceiving, misleading, or defrauding others of their legal rights, or to obtain an objective forbidden by law typically by defrauding or gaining an unfair market advantage.

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Commercial Solvents Corporation

Commercial Solvents Corporation (CSC) was an American chemical and biotechnology company created in 1919.

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Competition (economics)

In economics, competition is a condition where different economic firmsThis article follows the general economic convention of referring to all actors as firms; examples in include individuals and brands or divisions within the same (legal) firm.

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Competition Authority

A Competition Authority is the name given to a competition regulator in certain countries.

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Competition Commission of India

Competition Commission of India is a statutory body of the Government of India responsible for enforcing The Competition Act, 2002 throughout India and to prevent activities that have an appreciable adverse effect on competition in India.

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Competition regulator

A competition regulator is a government agency, typically a statutory authority, sometimes called an economic regulator, which regulates and enforces competition laws, and may sometimes also enforce consumer protection laws.

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Conglomerate (company)

A conglomerate is the combination of two or more corporations operating in entirely different industries under one corporate group, usually involving a parent company and many subsidiaries.

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Conglomerate merger

A conglomerate merger is "any merger that is not horizontal or vertical; in general, it is the combination of firms in different industries or firms operating in different geographic areas".

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Consumer protection

In regulatory jurisdictions that provide for this (a list including most or all developed countries with free market economies) consumer protection is a group of laws and organizations designed to ensure the rights of consumers, as well as fair trade, competition, and accurate information in the marketplace.

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Consumerism is a social and economic order and ideology that encourages the acquisition of goods and services in ever-increasing amounts.

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Continental Television, Inc. v. GTE Sylvania, Inc.

Continental Television v. GTE Sylvania,, was an antitrust decision of the Supreme Court of the United States.

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Copyright is a legal right, existing globally in many countries, that basically grants the creator of an original work exclusive rights to determine and decide whether, and under what conditions, this original work may be used by others.

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Creative destruction

Creative destruction (German: schöpferische Zerstörung), sometimes known as Schumpeter's gale, is a concept in economics which since the 1950s has become most readily identified with the Austrian-American economist Joseph Schumpeter who derived it from the work of Karl Marx and popularized it as a theory of economic innovation and the business cycle.

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Cucking stool

Cucking stools or ducking stools were chairs formerly used for punishment of disorderly women, scolds, and dishonest tradesmen in England, Scotland, and elsewhere.

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Darcy v Allein

Edward Darcy Esquire v Thomas Allin of London Haberdasher (1602) 74 ER 1131 (also spelled as "Allain" or "Allen" and "Allein" but most widely known as the Case of Monopolies), was an early landmark case in English law, establishing that the grant of exclusive rights to produce any article was improper (monopoly).

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Deadweight loss

A deadweight loss, also known as excess burden or allocative inefficiency, is a loss of economic efficiency that can occur when equilibrium for a good or a service is not achieved.

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Diocletian (Gaius Aurelius Valerius Diocletianus Augustus), born Diocles (22 December 244–3 December 311), was a Roman emperor from 284 to 305.

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Doha Development Round

The Doha Development Round or Doha Development Agenda (DDA) is the trade-negotiation round of the World Trade Organization (WTO) which commenced in November 2001 under then director-general Mike Moore.

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Domesday Book

Domesday Book (or; Latin: Liber de Wintonia "Book of Winchester") is a manuscript record of the "Great Survey" of much of England and parts of Wales completed in 1086 by order of King William the Conqueror.

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Dominance (economics)

Market dominance is a measure of the strength of a brand, product, service, or firm, relative to competitive offerings.

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Economic liberalisation in India

The economic liberalisation in India refers to the economic liberalisation, initiated in 1991, of the country's economic policies, with the goal of making the economy more market and service-oriented and expanding the role of private and foreign investment.

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Economies of scale

In microeconomics, economies of scale are the cost advantages that enterprises obtain due to their scale of operation (typically measured by amount of output produced), with cost per unit of output decreasing with increasing scale.

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Edict on Maximum Prices

The Edict on Maximum Prices (Latin: Edictum de Pretiis Rerum Venalium, "Edict Concerning the Sale Price of Goods"; also known as the Edict on Prices or the Edict of Diocletian) was issued in 301 by Roman Emperor Diocletian.

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Edward III of England

Edward III (13 November 1312 – 21 June 1377) was King of England and Lord of Ireland from January 1327 until his death; he is noted for his military success and for restoring royal authority after the disastrous and unorthodox reign of his father, Edward II.

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Edward the Confessor

Edward the Confessor (Ēadƿeard Andettere, Eduardus Confessor; 1003 – 5 January 1066), also known as Saint Edward the Confessor, was among the last Anglo-Saxon kings of England.

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Effective competition

Effective competition is a concept first proposed by John Maurice Clark, then under the name of "workable competition," as a "workable" alternative to the economic theory of perfect competition, as perfect competition is seldom observed in the real world.

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Elizabeth I of England

Elizabeth I (7 September 1533 – 24 March 1603) was Queen of England and Ireland from 17 November 1558 until her death on 24 March 1603.

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Engrossing (law)

Engrossing, forestalling and regrating were marketing offences in English common law.

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European Coal and Steel Community

The European Coal and Steel Community (ECSC) was an organisation of 6 European countries set up after World War II to regulate their industrial production under a centralised authority.

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European Commission

The European Commission (EC) is an institution of the European Union, responsible for proposing legislation, implementing decisions, upholding the EU treaties and managing the day-to-day business of the EU.

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European Council

The European Council, charged with defining the European Union's (EU) overall political direction and priorities, is the institution of the EU that comprises the heads of state or government of the member states, along with the President of the European Council and the President of the European Commission.

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European Economic Community

The European Economic Community (EEC) was a regional organisation which aimed to bring about economic integration among its member states.

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European Union

The European Union (EU) is a political and economic union of EUnum member states that are located primarily in Europe.

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European Union competition law

European competition law is the competition law in use within the European Union.

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European Union merger law

European Union merger law is a part of the law of the European Union which regulates whether firms can merge with one another and under what conditions.

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In economics, an externality is the cost or benefit that affects a party who did not choose to incur that cost or benefit.

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Extraterritorial jurisdiction

Extraterritorial jurisdiction (ETJ) is the legal ability of a government to exercise authority beyond its normal boundaries.

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Frederic William Maitland

Frederic William Maitland, FBA (28 May 1850 – 19 December 1906) was an English historian and lawyer who is generally regarded as the modern father of English legal history.

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Free-rider problem

In economics, the free-rider problem occurs when those who benefit from resources, public goods, or services do not pay for them, which results in an underprovision of those goods or services.

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French Revolution

The French Revolution (Révolution française) was a period of far-reaching social and political upheaval in France and its colonies that lasted from 1789 until 1799.

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Fuel oil

Fuel oil (also known as heavy oil, marine fuel or furnace oil) is a fraction obtained from petroleum distillation, either as a distillate or a residue.

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Game theory

Game theory is "the study of mathematical models of conflict and cooperation between intelligent rational decision-makers".

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General Agreement on Tariffs and Trade

General Agreement on Tariffs and Trade (GATT) was a legal agreement between many countries, whose overall purpose was to promote international trade by reducing or eliminating trade barriers such as tariffs or quotas.

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General principles of European Union law

The general principles of European Union law are general principles of law which are applied by the European Court of Justice and the national courts of the member states when determining the lawfulness of legislative and administrative measures within the European Union.

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Globalization or globalisation is the process of interaction and integration between people, companies, and governments worldwide.

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Government failure

Government failure, in the context of public economics, is an economic inefficiency caused by a government intervention, if the inefficiency would not exist in a true free market.

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Government of India

The Government of India (IAST), often abbreviated as GoI, is the union government created by the constitution of India as the legislative, executive and judicial authority of the union of 29 states and seven union territories of a constitutionally democratic republic.

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Great Depression

The Great Depression was a severe worldwide economic depression that took place mostly during the 1930s, beginning in the United States.

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Green paper

In the European Union, the Commonwealth countries, Hong Kong and the United States, a green paper is a tentative government report and consultation document of policy proposals for debate and discussion.

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A guild is an association of artisans or merchants who oversee the practice of their craft/trade in a particular area.

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Harvard Law School

Harvard Law School (also known as Harvard Law or HLS) is one of the professional graduate schools of Harvard University located in Cambridge, Massachusetts.

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Henry III of England

Henry III (1 October 1207 – 16 November 1272), also known as Henry of Winchester, was King of England, Lord of Ireland, and Duke of Aquitaine from 1216 until his death.

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Henry VIII of England

Henry VIII (28 June 1491 – 28 January 1547) was King of England from 1509 until his death.

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Herfindahl index

The Herfindahl index (also known as Herfindahl–Hirschman Index, HHI, or sometimes HHI-score) is a measure of the size of firms in relation to the industry and an indicator of the amount of competition among them.

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Holy Roman Empire

The Holy Roman Empire (Sacrum Romanum Imperium; Heiliges Römisches Reich) was a multi-ethnic but mostly German complex of territories in central Europe that developed during the Early Middle Ages and continued until its dissolution in 1806.

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Hong Kong

Hong Kong (Chinese: 香港), officially the Hong Kong Special Administrative Region of the People's Republic of China, is an autonomous territory of China on the eastern side of the Pearl River estuary in East Asia.

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Industrial design right

An industrial design right is an intellectual property right that protects the visual design of objects that are not purely utilitarian.

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Industrialisation or industrialization is the period of social and economic change that transforms a human group from an agrarian society into an industrial society, involving the extensive re-organisation of an economy for the purpose of manufacturing.

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Innovation can be defined simply as a "new idea, device or method".

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Institute for Consumer Antitrust Studies

The Institute for Consumer Antitrust Studies is a non-partisan, independent academic center designed to explore the impact of antitrust enforcement on the individual consumer and public, and to shape policy issues.

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Intellectual property

Intellectual property (IP) is a category of property that includes intangible creations of the human intellect, and primarily encompasses copyrights, patents, and trademarks.

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International Competition Network

The International Competition Network is an informal, virtual network that seeks to facilitate cooperation between competition law authorities globally.

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International Encyclopedia of the Social & Behavioral Sciences

The International Encyclopedia of the Social & Behavioral Sciences, originally edited by Neil J. Smelser and Paul B. Baltes, is a 26-volume work published by Elsevier.

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International Trade Organization

The International Trade Organization (ITO) was the proposed name for an international institution for the regulation of trade.

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Irish competition law

Irish Competition Law is the Irish body of legal rules designed to ensure fairness and freedom in the marketplace.

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Italy (Italia), officially the Italian Republic (Repubblica Italiana), is a sovereign state in Europe.

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James VI and I

James VI and I (James Charles Stuart; 19 June 1566 – 27 March 1625) was King of Scotland as James VI from 24 July 1567 and King of England and Ireland as James I from the union of the Scottish and English crowns on 24 March 1603 until his death in 1625.

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Japan (日本; Nippon or Nihon; formally 日本国 or Nihon-koku, lit. "State of Japan") is a sovereign island country in East Asia.

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John Kenneth Galbraith

John Kenneth Galbraith (October 15, 1908 - April 29, 2006), also known as Ken Galbraith, was a Canadian-born economist, public official, and diplomat, and a leading proponent of 20th-century American liberalism.

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John Sherman

John Sherman (May 10, 1823October 22, 1900) was a politician from the U.S. state of Ohio during the American Civil War and into the late nineteenth century.

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John Stuart Mill

John Stuart Mill, also known as J.S. Mill, (20 May 1806 – 8 May 1873) was a British philosopher, political economist, and civil servant.

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Joint venture

A joint venture (JV) is a business entity created by two or more parties, generally characterized by shared ownership, shared returns and risks, and shared governance.

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Joseph Schumpeter

Joseph Alois Schumpeter (8 February 1883 – 8 January 1950) was an Austrian political economist.

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Justinian I

Justinian I (Flavius Petrus Sabbatius Iustinianus Augustus; Flávios Pétros Sabbátios Ioustinianós; 482 14 November 565), traditionally known as Justinian the Great and also Saint Justinian the Great in the Eastern Orthodox Church, was the Eastern Roman emperor from 527 to 565.

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Laissez-faire (from) is an economic system in which transactions between private parties are free from government intervention such as regulation, privileges, tariffs and subsidies.

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Law is a system of rules that are created and enforced through social or governmental institutions to regulate behavior.

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Lead is a chemical element with symbol Pb (from the Latin plumbum) and atomic number 82.

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Leegin Creative Leather Products, Inc. v. PSKS, Inc.

Leegin Creative Leather Products, Inc.

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Lex mercatoria

Lex mercatoria (from the Latin for "merchant law"), often referred to as "the Law Merchant" in English, is the body of commercial law used by merchants throughout Europe during the medieval period.

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Liberalization (or liberalisation) is a general term for any process whereby a state lifts restrictions on some private individual activities.

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List of countries' copyright lengths

Copyright is the right to copy and publish a particular work.

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Long run and short run

In microeconomics, the long run is the conceptual time period in which there are no fixed factors of production, so that there are no constraints preventing changing the output level by changing the capital stock or by entering or leaving an industry.

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Luxembourg (Lëtzebuerg; Luxembourg, Luxemburg), officially the Grand Duchy of Luxembourg, is a landlocked country in western Europe.

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Marginalism is a theory of economics that attempts to explain the discrepancy in the value of goods and services by reference to their secondary, or marginal, utility.

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Market economy

A market economy is an economic system in which the decisions regarding investment, production, and distribution are guided by the price signals created by the forces of supply and demand.

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Market failure

In economics, market failure is a situation in which the allocation of goods and services by a free market is not efficient, often leading to a net social welfare loss.

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Mergers and acquisitions

Mergers and acquisitions (M&A) are transactions in which the ownership of companies, other business organizations, or their operating units are transferred or consolidated with other entities.

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Microsoft Windows

Microsoft Windows is a group of several graphical operating system families, all of which are developed, marketed, and sold by Microsoft.

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Millennium Prize Problems

The Millennium Prize Problems are seven problems in mathematics that were stated by the Clay Mathematics Institute in 2000.

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Milton Friedman

Milton Friedman (July 31, 1912 – November 16, 2006) was an American economist who received the 1976 Nobel Memorial Prize in Economic Sciences for his research on consumption analysis, monetary history and theory, and the complexity of stabilization policy.

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A monopoly (from Greek μόνος mónos and πωλεῖν pōleîn) exists when a specific person or enterprise is the only supplier of a particular commodity.

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Nation state

A nation state (or nation-state), in the most specific sense, is a country where a distinct cultural or ethnic group (a "nation" or "people") inhabits a territory and have formed a state (often a sovereign state) that they predominantly govern.

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Natural disaster

A natural disaster is a major adverse event resulting from natural processes of the Earth; examples include floods, hurricanes, tornadoes, volcanic eruptions, earthquakes, tsunamis, and other geologic processes.

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The Netherlands (Nederland), often referred to as Holland, is a country located mostly in Western Europe with a population of seventeen million.

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New World

The New World is one of the names used for the majority of Earth's Western Hemisphere, specifically the Americas (including nearby islands such as those of the Caribbean and Bermuda).

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Norman conquest of England

The Norman conquest of England (in Britain, often called the Norman Conquest or the Conquest) was the 11th-century invasion and occupation of England by an army of Norman, Breton, Flemish and French soldiers led by Duke William II of Normandy, later styled William the Conqueror.

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The Organisation for Economic Co-operation and Development (OECD; Organisation de coopération et de développement économiques, OCDE) is an intergovernmental economic organisation with 35 member countries, founded in 1961 to stimulate economic progress and world trade.

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Office of Fair Trading

The Office of Fair Trading (OFT) was a non-ministerial government department of the United Kingdom, established by the Fair Trading Act 1973, which enforced both consumer protection and competition law, acting as the United Kingdom's economic regulator.

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An oligopoly (from Ancient Greek ὀλίγος (olígos) "few" + πωλεῖν (polein) "to sell") is a market form wherein a market or industry is dominated by a small number of large sellers (oligopolists).

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On Liberty

On Liberty is a philosophical work by the English philosopher John Stuart Mill, originally intended as a short essay.

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Panic of 1873

The Panic of 1873 was a financial crisis that triggered a depression in Europe and North America that lasted from 1873 until 1879, and even longer in some countries (France and Britain).

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Pareto efficiency

Pareto efficiency or Pareto optimality is a state of allocation of resources from which it is impossible to reallocate so as to make any one individual or preference criterion better off without making at least one individual or preference criterion worse off.

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A patent is a set of exclusive rights granted by a sovereign state or intergovernmental organization to an inventor or assignee for a limited period of time in exchange for detailed public disclosure of an invention.

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Perfect competition

In economics, specifically general equilibrium theory, a perfect market is defined by several idealizing conditions, collectively called perfect competition.

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Peter Whelan (lawyer)

Peter Whelan (born 1979) is a professor of law at the School of Law, University of Leeds.

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Phillip E. Areeda

Phillip Elias Areeda (January 28, 1930 – December 24, 1995) was an American lawyer and legal scholar.

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The pillory was a device made of a wooden or metal framework erected on a post, with holes for securing the head and hands, formerly used for punishment by public humiliation and often further physical abuse.

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Plurilateral agreement

A plurilateral agreement is a multi-national legal or trade agreement between countries.

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Poverty is the scarcity or the lack of a certain (variant) amount of material possessions or money.

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Predatory pricing

Predatory pricing, also known as undercutting, is a pricing strategy in which a product or service is set at a very low price with the intention to drive competitors out of the market or to create barriers to entry for potential new competitors.

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Price discrimination

Price discrimination is a microeconomic pricing strategy where identical or largely similar goods or services are transacted at different prices by the same provider in different markets.

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Price fixing

Price fixing is an agreement between participants on the same side in a market to buy or sell a product, service, or commodity only at a fixed price, or maintain the market conditions such that the price is maintained at a given level by controlling supply and demand.

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Price gouging

Price gouging is a pejorative term referring to when a seller spikes the prices of goods, services or commodities to a level much higher than is considered reasonable or fair, and is considered exploitative, potentially to an unethical extent.

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Privatization (also spelled privatisation) is the purchase of all outstanding shares of a publicly traded company by private investors, or the sale of a state-owned enterprise to private investors.

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Production–possibility frontier

A production–possibility frontier (PPF) or production possibility curve (PPC) is the possible tradeoff of producing combinations of goods with constant technology and resources per unit time.

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Productive efficiency

Productive efficiency is a situation in which the economy could not produce any more of one good without sacrificing production of another good.

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Proportionality (law)

Proportionality is a general principle in law which covers several special (although related) concepts.

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Protestant work ethic

The Protestant work ethic, the Calvinist work ethic or the Puritan work ethic is a concept in theology, sociology, economics and history which emphasizes that hard work, discipline and frugality are a result of a person's subscription to the values espoused by the Protestant faith, particularly Calvinism.

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Public service

Public service is a service which is provided by government to people living within its jurisdiction, either directly (through the public sector) or by financing provision of services.

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Punitive damages

Punitive damages, or exemplary damages, are damages intended to reform or deter the defendant and others from engaging in conduct similar to that which formed the basis of the lawsuit.

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Queen's Bench

The Queen's Bench (or, during the reign of a male monarch, the King's Bench, Cour du banc du Roi) is the superior court in a number of jurisdictions within some of the Commonwealth realms.

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Reasonable person

In law, a reasonable person, reasonable man, or the man on the Clapham omnibus is a hypothetical person of legal fiction crafted by the courts and communicated through case law and jury instructions.

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Refusal to deal

Though in general, each business may decide with whom they wish to deal, there are some situations when a refusal to deal may be considered an unlawful anti-competitive practice, if it prevents or reduces competition in a market.

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Regulation (European Union)

A regulation is a legal act of the European Union that becomes immediately enforceable as law in all member states simultaneously.

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Relevant market

In competition law, a relevant market is a market in which a particular product or service is sold.

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Resale price maintenance

Resale price maintenance (RPM) (US) or retail price maintenance (UK) is the practice whereby a manufacturer and its distributors agree that the distributors will sell the manufacturer's product at certain prices (resale price maintenance), at or above a price floor (minimum resale price maintenance) or at or below a price ceiling (maximum resale price maintenance).

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Restraint of trade

Restraint of trade is a common law doctrine relating to the enforceability of contractual restrictions on freedom to conduct business.

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Richard Posner

Richard Allen Posner (born January 11, 1939) is an American jurist and economist who was a United States Circuit Judge of the United States Court of Appeals for the Seventh Circuit in Chicago from 1981 until 2017, and is a Senior Lecturer at the University of Chicago Law School.

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Richard Wilberforce, Baron Wilberforce

Richard Orme Wilberforce, Baron Wilberforce (11 March 1907 – 15 February 2003), was a British judge, most notable for his report into coal miners' pay.

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Robert Bork

Robert Heron Bork (March 1, 1927 – December 19, 2012) was an American judge, government official, and legal scholar who advocated the judicial philosophy of originalism.

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Roman Empire

The Roman Empire (Imperium Rōmānum,; Koine and Medieval Greek: Βασιλεία τῶν Ῥωμαίων, tr.) was the post-Roman Republic period of the ancient Roman civilization, characterized by government headed by emperors and large territorial holdings around the Mediterranean Sea in Europe, Africa and Asia.

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Roman Republic

The Roman Republic (Res publica Romana) was the era of classical Roman civilization beginning with the overthrow of the Roman Kingdom, traditionally dated to 509 BC, and ending in 27 BC with the establishment of the Roman Empire.

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Rule of reason

The rule of reason is a legal doctrine used to interpret the Sherman Antitrust Act, one of the cornerstones of United States antitrust law.

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Russia (rɐˈsʲijə), officially the Russian Federation (p), is a country in Eurasia. At, Russia is the largest country in the world by area, covering more than one-eighth of the Earth's inhabited land area, and the ninth most populous, with over 144 million people as of December 2017, excluding Crimea. About 77% of the population live in the western, European part of the country. Russia's capital Moscow is one of the largest cities in the world; other major cities include Saint Petersburg, Novosibirsk, Yekaterinburg and Nizhny Novgorod. Extending across the entirety of Northern Asia and much of Eastern Europe, Russia spans eleven time zones and incorporates a wide range of environments and landforms. From northwest to southeast, Russia shares land borders with Norway, Finland, Estonia, Latvia, Lithuania and Poland (both with Kaliningrad Oblast), Belarus, Ukraine, Georgia, Azerbaijan, Kazakhstan, China, Mongolia and North Korea. It shares maritime borders with Japan by the Sea of Okhotsk and the U.S. state of Alaska across the Bering Strait. The East Slavs emerged as a recognizable group in Europe between the 3rd and 8th centuries AD. Founded and ruled by a Varangian warrior elite and their descendants, the medieval state of Rus arose in the 9th century. In 988 it adopted Orthodox Christianity from the Byzantine Empire, beginning the synthesis of Byzantine and Slavic cultures that defined Russian culture for the next millennium. Rus' ultimately disintegrated into a number of smaller states; most of the Rus' lands were overrun by the Mongol invasion and became tributaries of the nomadic Golden Horde in the 13th century. The Grand Duchy of Moscow gradually reunified the surrounding Russian principalities, achieved independence from the Golden Horde. By the 18th century, the nation had greatly expanded through conquest, annexation, and exploration to become the Russian Empire, which was the third largest empire in history, stretching from Poland on the west to Alaska on the east. Following the Russian Revolution, the Russian Soviet Federative Socialist Republic became the largest and leading constituent of the Union of Soviet Socialist Republics, the world's first constitutionally socialist state. The Soviet Union played a decisive role in the Allied victory in World War II, and emerged as a recognized superpower and rival to the United States during the Cold War. The Soviet era saw some of the most significant technological achievements of the 20th century, including the world's first human-made satellite and the launching of the first humans in space. By the end of 1990, the Soviet Union had the world's second largest economy, largest standing military in the world and the largest stockpile of weapons of mass destruction. Following the dissolution of the Soviet Union in 1991, twelve independent republics emerged from the USSR: Russia, Ukraine, Belarus, Kazakhstan, Uzbekistan, Armenia, Azerbaijan, Georgia, Kyrgyzstan, Moldova, Tajikistan, Turkmenistan and the Baltic states regained independence: Estonia, Latvia, Lithuania; the Russian SFSR reconstituted itself as the Russian Federation and is recognized as the continuing legal personality and a successor of the Soviet Union. It is governed as a federal semi-presidential republic. The Russian economy ranks as the twelfth largest by nominal GDP and sixth largest by purchasing power parity in 2015. Russia's extensive mineral and energy resources are the largest such reserves in the world, making it one of the leading producers of oil and natural gas globally. The country is one of the five recognized nuclear weapons states and possesses the largest stockpile of weapons of mass destruction. Russia is a great power as well as a regional power and has been characterised as a potential superpower. It is a permanent member of the United Nations Security Council and an active global partner of ASEAN, as well as a member of the G20, the Shanghai Cooperation Organisation (SCO), the Council of Europe, the Asia-Pacific Economic Cooperation (APEC), the Organization for Security and Co-operation in Europe (OSCE), and the World Trade Organization (WTO), as well as being the leading member of the Commonwealth of Independent States (CIS), the Collective Security Treaty Organization (CSTO) and one of the five members of the Eurasian Economic Union (EEU), along with Armenia, Belarus, Kazakhstan and Kyrgyzstan.

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Share (finance)

In financial markets, a share is a unit used as mutual funds, limited partnerships, and real estate investment trusts.

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Sherman Antitrust Act

The Sherman Antitrust Act (Sherman Act) is a landmark federal statute in the history of United States antitrust law (or "competition law") passed by Congress in 1890 under the presidency of Benjamin Harrison.

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Sir Frederick Pollock, 3rd Baronet

Sir Frederick Pollock, 3rd Baronet PC, FBA (10 December 1845 – 18 January 1937) was an English jurist best known for his History of English Law before the Time of Edward I, written with F.W. Maitland, and his lifelong correspondence with US Supreme Court Justice Oliver Wendell Holmes.

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Small but significant and non-transitory increase in price

In competition law, before deciding whether companies have significant market power which would justify government intervention, the test of small but significant and non-transitory increase in price (SSNIP) is used to define the relevant market in a consistent way.

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South Korea

South Korea, officially the Republic of Korea (대한민국; Hanja: 大韓民國; Daehan Minguk,; lit. "The Great Country of the Han People"), is a country in East Asia, constituting the southern part of the Korean Peninsula and lying east to the Asian mainland.

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Soviet Union

The Soviet Union, officially the Union of Soviet Socialist Republics (USSR) was a socialist state in Eurasia that existed from 1922 to 1991.

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Spectrum Sports, Inc. v. McQuillan

Spectrum Sports, Inc.

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Standard Oil

Standard Oil Co.

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State Oil Co. v. Khan

State Oil Co.

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Statute of Labourers 1351

The Statute of Labourers was a law created by the English parliament under King Edward III in 1351 in response to a labour shortage, designed to suppress the labour force by prohibiting increases in wages and prohibiting the movement of workers from their home areas in search of improved conditions.

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Statute of Monopolies

The Statute of Monopolies was an Act of the Parliament of England notable as the first statutory expression of English patent law.

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Statutory law

Statutory law or statute law is written law set down by a body of legislature or by a singular legislator (in the case of absolute monarchy).

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Steel is an alloy of iron and carbon and other elements.

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Supreme Court of the United States

The Supreme Court of the United States (sometimes colloquially referred to by the acronym SCOTUS) is the highest federal court of the United States.

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The American Economic Review

The American Economic Review is a peer-reviewed academic journal of economics.

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The Antitrust Paradox

The Antitrust Paradox is a 1978 book by Robert Bork that criticized the state of United States antitrust law in the 1970s.

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The Competition Act, 2002

The Competition Act, 2002 was enacted by the Parliament of India and governs Indian competition law.

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The History of the Standard Oil Company

The History of the Standard Oil Company is a 1904 book by journalist Ida Tarbell.

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The New Industrial State

The New Industrial State is a 1967 book by John Kenneth Galbraith.

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The New Palgrave Dictionary of Economics

The New Palgrave Dictionary of Economics (2008), 2nd ed., is an eight-volume reference work on economics, edited by Steven N. Durlauf and Lawrence E. Blume and published by Palgrave Macmillan.

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The Wealth of Nations

An Inquiry into the Nature and Causes of the Wealth of Nations, generally referred to by its shortened title The Wealth of Nations, is the magnum opus of the Scottish economist and moral philosopher Adam Smith.

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Trade secret

A trade secret is a formula, practice, process, design, instrument, pattern, commercial method, or compilation of information not generally known or reasonably ascertainable by others by which a business can obtain an economic advantage over competitors or customers.

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A trademark, trade mark, or trade-markThe styling of trademark as a single word is predominantly used in the United States and Philippines only, while the two-word styling trade mark is used in many other countries around the world, including the European Union and Commonwealth and ex-Commonwealth jurisdictions (although Canada officially uses "trade-mark" pursuant to the Trade-mark Act, "trade mark" and "trademark" are also commonly used).

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Treaty of Lisbon

The Treaty of Lisbon (initially known as the Reform Treaty) is an international agreement that amends the two treaties which form the constitutional basis of the European Union (EU).

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Treaty of Rome

The Treaty on the Functioning of the European Union (TFEU; also referred to as the Treaty of Rome) is one of two treaties forming the constitutional basis of the European Union (EU), the other being the Treaty on European Union (TEU; also referred to as the Treaty of Maastricht).

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Treble damages

Treble damages, in United States law, is a term that indicates that a statute permits a court to triple the amount of the actual/compensatory damages to be awarded to a prevailing plaintiff.

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Trial court

A trial court or court of first instance is a court having original jurisdiction, in which trials take place.

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Trust (business)

A trust or corporate trust is a large grouping of business interests with significant market power, which may be embodied as a corporation or as a group of corporations that cooperate with one another in various ways.

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Tuberculosis (TB) is an infectious disease usually caused by the bacterium Mycobacterium tuberculosis (MTB).

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Tying (commerce)

Tying (informally, product tying) is the practice of selling one product or service as a mandatory addition to the purchase of a different product or service.

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United Kingdom

The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain,Usage is mixed with some organisations, including the and preferring to use Britain as shorthand for Great Britain is a sovereign country in western Europe.

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United States

The United States of America (USA), commonly known as the United States (U.S.) or America, is a federal republic composed of 50 states, a federal district, five major self-governing territories, and various possessions.

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United States antitrust law

United States antitrust law is a collection of federal and state government laws that regulates the conduct and organization of business corporations, generally to promote fair competition for the benefit of consumers.

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University of Chicago

The University of Chicago (UChicago, U of C, or Chicago) is a private, non-profit research university in Chicago, Illinois.

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Uruguay Round

The Uruguay Round was the 8th round of multilateral trade negotiations (MTN) conducted within the framework of the General Agreement on Tariffs and Trade (GATT), spanning from 1986 to 1994 and embracing 123 countries as "contracting parties".

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Utilitarianism is an ethical theory that states that the best action is the one that maximizes utility.

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Verizon Communications Inc. v. Law Offices of Curtis V. Trinko, LLP

Verizon Communications v. Law Offices of Curtis V. Trinko, LLP, often shortened to Verizon v. Trinko,, is a case decided by the Supreme Court of the United States in the field of Antitrust law.

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Vilfredo Pareto

Vilfredo Federico Damaso Pareto (born Wilfried Fritz Pareto, 15 July 1848 – 19 August 1923) was an Italian engineer, sociologist, economist, political scientist, and philosopher, now also known for the 80/20 rule, named after him as the Pareto principle.

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Welfare is a government support for the citizens and residents of society.

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Welfare economics

Welfare economics is a branch of economics that uses microeconomic techniques to evaluate well-being (welfare) at the aggregate (economy-wide) level.

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Wenceslaus II of Bohemia

Wenceslaus II Přemyslid (Václav II.; Wacław II Czeski; 27 SeptemberK. Charvátová, Václav II. Král český a polský, Prague 2007, p. 18. 1271 – 21 June 1305) was King of Bohemia (1278–1305), Duke of Cracow (1291–1305), and King of Poland (1300–1305).

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Whisky or whiskey is a type of distilled alcoholic beverage made from fermented grain mash.

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William Searle Holdsworth

Sir William Searle Holdsworth (7 May 1871 – 2 January 1944), was Vinerian Professor of English Law at Oxford University and a legal historian, amongst whose works is the 17 volume History of English Law.

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Windows Media Player

Windows Media Player (WMP) is a media player and media library application developed by Microsoft that is used for playing audio, video and viewing images on personal computers running the Microsoft Windows operating system, as well as on Pocket PC and Windows Mobile-based devices.

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World Trade Organization

The World Trade Organization (WTO) is an intergovernmental organization that regulates international trade.

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World War II

World War II (often abbreviated to WWII or WW2), also known as the Second World War, was a global war that lasted from 1939 to 1945, although conflicts reflecting the ideological clash between what would become the Allied and Axis blocs began earlier.

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Zeno (emperor)

Zeno the Isaurian (Flavius Zeno Augustus; Ζήνων; c. 425 – 9 April 491), originally named Tarasis Kodisa RousombladadiotesThe sources call him "Tarasicodissa Rousombladadiotes", and for this reason it was thought his name was Tarasicodissa. However, it has been demonstrated that this name actually means "Tarasis, son of Kodisa, Rusumblada", and that "Tarasis" was a common name in Isauria (R.M. Harrison, "The Emperor Zeno's Real Name", Byzantinische Zeitschrift 74 (1981) 27–28)., was Eastern Roman Emperor from 474 to 475 and again from 476 to 491. Domestic revolts and religious dissension plagued his reign, which nevertheless succeeded to some extent in foreign issues. His reign saw the end of the Western Roman Empire following the deposition of Romulus Augustus and the death of Julius Nepos, but he contributed much to stabilising the eastern Empire. In ecclesiastical history, Zeno is associated with the Henotikon or "instrument of union", promulgated by him and signed by all the Eastern bishops, with the design of solving the monophysite controversy.

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[1] https://en.wikipedia.org/wiki/Competition_law

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