LENIENCY POLICY FOR COMPETITIVE ACTIVITY

A market driven economy is inconceivable without competition. In this system, the competition is beneficial firstly for consumers, but also for producers. The former have the ability to satisfy their needs according to taste and financial ability, while the latter are incentivized to innovate and increase efficiency. Competition induces natural selection among companies. This selection must adhere to strictly abiding by competition law regulation, while regulation must benefit both consumers and producers. The economic development needs an efficient policy to protect competition. Thus, leniency policy helps regulate companies and discourages anticompetitive practices, prevents price fixing, encourages cooperation with competition authorities to prove anticompetitive behavior. This way, companies involved in price fixing can benefit from reduced penalties or immunity from fines.