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Legal Terms - Abuse of a Dominant Position
*Unfair commercial methods employed by a major corporation to hinder competition. Instances of such actions, which go against *Article 102 of the Treaty on the Functioning of the European Union (formerly Article 82 of the Treaty of Rome) and Chapter II of the UK Competition Act 1998, encompass declining to provide goods or services to a current customer without valid justification and participating in *predatory pricing. The European Commission and/or the UK Competition and Markets Authority have the authority to impose fines on corporations for violating Article 102 and/or Chapter II, amounting to a maximum of 10% of the company's annual worldwide group revenue. Google was fined €4.34 billion in 2018. Pfizer, a pharmaceutical company, was penalized with a fine of £82 million in 2016 in the United Kingdom for engaging in anti-competitive behavior that violated the Competition Act. The company was found guilty of abusing its dominant market position.
*Unfair commercial methods employed by a major corporation to hinder competition. Instances of such actions, which go against *Article 102 of the Treaty on the Functioning of the European Union (formerly Article 82 of the Treaty of Rome) and Chapter II of the UK Competition Act 1998, encompass declining to provide goods or services to a current customer without valid justification and participating in *predatory pricing. The European Commission and/or the UK Competition and Markets Authority have the authority to impose fines on corporations for violating Article 102 and/or Chapter II, amounting to a maximum of 10% of the company's annual worldwide group revenue. Google was fined €4.34 billion in 2018. Pfizer, a pharmaceutical company, was penalized with a fine of £82 million in 2016 in the United Kingdom for engaging in anti-competitive behavior that violated the Competition Act. The company was found guilty of abusing its dominant market position.
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