Assessment of competition commission of European Union and Singapore and its effect on new firms and consumer power

Abstract

Competition law protect the competition process by prohibiting three major competitive activities, such as anti-competitive agreement, abuse of dominance and anti-competitive mergers, (Singapore Academic of Law 2012). This helps to reinforce pro-enterprise and pro-competition policies, enhance the efficiency of markets and strengthen countries economic competitiveness, (Lane 2000, p1). The American Sherman Acts of 1890 is taken as the starting point of modern competition law but the roots of competition law lie much deeper,(Furse, 2008, p3). However, after the American Sherman Act of 1890, this competition law was enacted in the law of many nations. E.g. Singapore 2004, UK 1998, etc, therefore this research tend to compare and give assessment of competition commission of Singapore and that of European Union and shows how the market power of the existing firms negatively affecting the emergence of the new firms as well as the consumer power in the two economies.