Lawyers Greece - Competition

It is part of the wider field of the commercial law. The Competition Law includes:
Α) The Unfair Competition Law, which prohibits business practices that are contrary to morality. The businesses are allowed to compete in order to broaden their customer base and increase their profits, but there are limits beyond which the competition is not desirable. The Unfair Competition Law protects competition as an institution, the competitors and the consumers, too. Its main scope is to mislead the consumer, who is in fact deprived of his freedom of choice, since, as his mind wanders, the consumer is unable to assess the sellers' offers properly. The misleading of the consumer can be done with fraudulent "offers", misleading advertising, by imitating competing products and with general unfair trading conditions known as the "fine print" in other ways.
Β) The Law against the restraints of Competition, which protects competition with restrictions imposed by the firms themselves. Its basic principle is that the competition between companies is the desired state of the market and that often the companies themselves restrict it with agreements or unilateral practices. In these cases, the law is involved prohibiting such practices in order to restore competition in the marketplace. The objectives of the Law against the restraints of Competition are established by the relevant competition Policy followed by the principles that apply to it.