Konkurentsiajastus

Konkurentsiajastus is a term of Estonian origin that can be translated as "competition law" or "antitrust law" in English. It refers to the legal framework and principles that govern competition in the marketplace, aiming to prevent anti-competitive practices and ensure fair market dynamics. The core purpose of konkurentsiajastus is to protect consumers and businesses from the negative consequences of monopolies, cartels, and other forms of collusion or abuse of dominant market positions.

In Estonia, the primary legislation governing konkurentsiajastus is the Competition Act. This act outlines prohibited practices, such as agreements between undertakings that restrict competition, the abuse of a dominant market position, and the control of concentrations of undertakings (mergers and acquisitions) that could significantly impede competition. The Estonian Competition Authority (Konkurentsiamet) is the state institution responsible for enforcing this legislation. They investigate suspected breaches, conduct market analyses, and impose sanctions when necessary.

The principles of konkurentsiajastus are designed to foster economic efficiency, innovation, and consumer choice. By promoting a competitive environment, it encourages businesses to offer better products and services at more attractive prices. The application of konkurentsiajastus is crucial for maintaining a healthy and dynamic economy, ensuring that market power is not concentrated in the hands of a few, and that smaller businesses have a fair opportunity to compete.