Making commercial and other arrangements with competitors is a normal part of business for many enterprises. Participation in industry groups, joint marketing, buying groups, joint ventures or the mere supply or acquisition of products and services are all common features of commerce.
From a regulatory perspective, however, there is a line to be drawn between legitimate commercial enterprise and anticompetitive collusion. While conceptually most of us know what a cartel is, where the line is drawn in respect of a particular transaction or arrangement can often be a difficult question. When exactly does legitimate cooperation become illegal collusion?
As most now know, Australia has recently introduced some of the strictest anti-cartel legislation in the world, backed up with some of the most severe penalties – including gaol – for offenders. What is perhaps not fully appreciated by business people and many of their advisers is that the laws regarding what is lawful and what is not have been entirely re-written. Without doubt, many arrangements that were lawful before the implementation of these reforms will now be illegal.
This guide seeks to introduce corporate counsel and senior executives to these laws and the ways in which their business may be affected. It also suggests ways to manage the risks of non-compliance and what to do in the event of a discovered breach.
Please click here to view the Guide.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
