The Competition & Consumer Laws mainly refer to the body of laws that are enacted by government in order to excellently prevent any unfair competition among the businesses, with regulate corporate malpractices & also protect rights of consumers. The Competition & Consumer-Laws are normally enacted by the government agencies & deal with the number of inter-related problems. The so-called four step Process/method is the approach developed inside the competition-law compliance process. The competition-law compliance mainly ensures free as well as fair trade with helping companies to perfectly gain competitive benefits over the others.
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The competition law compliance can help the companies to perfectly avoid many potential consequences of the competition-law infringement. Here are some adverse consequences of the competitive-law infringement defined as:-
Apart from that the competition law compliance can have various other positive benefits like:-
Benefits for a small business can be:-
You can achieve competition law compliance with a 4-step approach. This mainly requires each & every company to mainly follow 4-step process in order to achieve some effective culture of the compliance by the help of assessing the risk exposure & internal business culture of their own. According a fair trade, the 4-step approach can be mainly classified as:-
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This involves identification of various potential fields of risk that mainly depends on great extent of nature as well as size of each & every business. Different types of business-threats can be: fixed prices, engaging in the bid-rigging, limit-production, market sharing or share customers. You need to keep following things in mind to avoid meeting with potential risk areas:-
The above mentioned factors can create some major risk in association to your business.
Now is the time to assess your risk with risk management. This can be categorized into:-
Mainly involves a suitable training-activities for bringing some behavioural changes within your organization for achieving the culture of competition-law compliance.
Involves studying about the concerned cartel activities and taking some immediate actions upon the same.
Done by the experts to ensure that the company is absolutely capable of clearly adapting to changes that has been occurring inside as well as outside the concerned company.
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