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Vol 23 No 5 May/June 2018

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Cover of Drafting Commercial Agreements

Drafting Commercial Agreements

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This book is now Out of Print.
A new edition is due, details can be seen here:
Vertical Agreements and Competition Law: A Comparative Study 2nd ed isbn 9781509908813

Vertical Agreements and Competition Law: A Comparative Study of the EU and US Regimes

ISBN13: 9781841138718
New Edition ISBN: 9781509908813
Published: January 2010
Publisher: Hart Publishing
Country of Publication: UK
Format: Hardback
Price: Out of print

This book focuses on the current legal framework for vertical agreements in the EC and the US. Over the last ten years, antitrust rules governing these agreements have undergone thorough reform. In the EC, the old sector-specific block exemptions were replaced by Regulation 2790/99, applicable to all sectors of the economy. In addition, changes introduced to the procedural rules have led to the decentralisation of Article 81(3) and the removal of the notification requirement.

In like manner, in the US the Supreme Court has gradually taken vertical restraints out of the per se illegality rule. What Sylvania achieved in placing non-price vertical restraints under the rule of reason in the late 1970s, the Khan judgment did for maximum resale price maintenance in 1997, whilst most recently and most significantly in 2007 the Leegin case followed suit for minimum resale price maintenance.

The book is divided into four chapters. The first chapter considers the 'double nature' of vertical agreements and the regulatory dilemma. The second chapter explores the most influential economic theories underpinning current regulatory frameworks, and how these theories shape antitrust policy. The third chapter questions the adequacy of the current economic analysis in recent EU and US legislation and court decisions.

The fourth chapter analyses how this maturing economic analysis can be reconciled with what commentators and regulators have identified as a key role for competition policy, redressing assumed imbalances between dealers and manufacturers. The author concludes by querying the prevailing logic of protecting sectoral interests above the competitive process.

Competition Law
Note to the Reader
Table of Cases
Table of Statutes
I The Significance of Vertical Agreements in the Study of Antitrust Policy and Regulation
II Competition Law in a Time of Financial Turmoil
III Competition and Regulation: An Impossible Relationship? The Challenges of Regulating Competition the Challenges of Regulating Competition
IV Style, Structure and Methodology
1. The Enduring Debate on the Nature of Vertical Agreements
I The Intricacies of the Regulation of Vertical Agreements in Competion Law
II The Regulatory Dilemma: General Assumptions on the 'Double Nature' of Vertical Restraints
III The Adequacy of Competition Law in Addressing the Regulatory Dilemma
2. Theorising Vertical Restraints: The Intellectual Foundations of EC Competition Law and US Antitrust Models
I The Influence of Economic and Political Theory in the Evolution of the Legal Framework for Vertical Agreements
II Vertical Restraints and Wider Competition Policy—An Overview
3. Questioning the Achievement of an Adequate Economic Analysis
I The Progressive Disappearance of the Per Se Rule in the US
II The European Regime for Vertical Agreements Since 1999
III An Assessment: Inherent Benefits and Dangers in the Extension of the Rule of Reason
4. The Impact of Competition Rules on Vertical Contractual Relationships
I The Interaction Between Contract and Competition Law
II Rebalancing the Dealer–Manufacturer Relationship
III The Path Towards the Reconciliation of the Evolution of Contract and Competition Law Conclusions
I Explanations: Vertical Agreements and Antitrust Law
II Predictions and Suggestions
III Final Evaluation—Assuming the Law's Limits?