So we learned

Egay Uy .

EXCEPT for agreements between employers and employers, e.g., collective bargaining agreements, the Philippine Competition Act (RA 10667) applies to any person or entity engaged in trade, industry and commerce in the country.  It also covers international commercial activities that have direct, substantial, and reasonably foreseeable effects on national trade, industry and commerce, including acts done outside the country.

This is how wide is the jurisdiction of the Philippine Competition Commission, the agency that is mandated to promote fair competition among companies across various industries to safeguard the welfare of both businesses and consumers in the country.

The PCC is an independent quasi-judicial body with original and primary jurisdiction over issues relating to competition.  As such, it prohibits exploitative business practices such as anti-competitive agreements, abuse of market dominance and anti-competitive mergers and acquisitions.

Anti-competitive agreements are those that substantially prevent, restrict or lessen competition.  It is illegal for business rivals to act together in ways that can limit competition, lead to higher prices, or hinder other businesses from entering the market.  Price-fixing and bid rigging are of course also considered anti-competitive agreements.

There is abuse of market dominance when an entity with a significant degree of power in a market engages in conduct that restricts competition.  This includes predatory pricing, imposing barriers to market entry, and the unfair exercise of monopsony power, among other business activities.

Anti-competitive mergers and acquisitions refer to the consolidation of companies that can substantially lessen competition or significantly impede effective competition in a relevant market.  While mergers and acquisitions are not illegal per se, merged entities can coordinate their market behavior and exercise market power unilaterally.

The foregoing are among the many points discussed during a recent regional roadshow on competition law and policy hosted by the Philippine Competition Commission last week.  With the enactment of the Philippine Competition Act, the country now has a comprehensive competition law that promotes fair trade practices, prohibits the formation of or regulates natural monopolies, and penalizes arrangements that duly manipulate or restrict fair market competition.

So we learned.