Competition Law in Business Essay Example | Topics and Well Written Essays - 250 words

Competition Law in Business - Essay Example Ilovemoneyalot, a telecommunication firm has a bigger market share as compared to other competitors such as Alfa and Beta. The move by the CEO of Ilovemoneyalot telecommunication to lure the other businesses to lower their prices of their products and services is against the competition laws. This is undertaking the dominant position the company enjoys to foreclose the market whereby the growth of other businesses will be limited. In Turkey, Competition Act, it prohibits the abuse by business undertaking of their dominant position. The abuse can take both the vertical and the horizontal form. According to the Act, a vertical agreement is the agreements carried out by business undertaking at different levels of production or distribution chain in order to produce or sell goods and services. Intellectual and Artistic work Act governs the rights of any musical or artwork done by someone from copyright infringements. It is intended to establish and safeguard moral and economic rights of the authors who create these artistic or intellectual works. In this case, Arthur, the songwriter and singer of â€Å"Beautiful Maria of My Life† did presents his song to his lover as present during her birthday. The girlfriend goes ahead to reproduce the song to the shock of Arthur. According to the Act, performing the song at part of the birthday party to Arthur’s girlfriend did not transfer intellectual or artistic rights and hence can sue for the copyright.