Competition Law in Norway
Competition Law in NorwayUpdated on Wednesday 03rd May 2017
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As a participant to the EEA Agreement, Norway shares with the other member countries some key principles related to the Competition Law. The provisions of the agreement provide equality and fair competition conditions inbetween the member states as well as on the global market. Other competition regulations are surveyed by the Icelandic Competition Authority and the Norwegian Competition Authority – Konkurransetilsynet. Our law firm in Norway is ready to inform you with the most relevant aspects concerning the Competition Law in Norway so that your investment in this country may profit of all its legally guaranteed rights.
Overview of the Competition Legislation in Norway
In 2001, the Norwegian government launched an action plan aiming at strengthening the competition policy in this country. The measures adopted by the government included a revision of the legal regulations and a verification of the institutions and authorities which might have restricted competition in Norway. Moreover, several new initiatives were taken in order to enhance the market access for all investors in Norway, regardless whether local or foreign. The public sector was also revised so that it could promote more efficiently fair competition in several sectors.
Whenever a company which operates in Norway signs an agreement or business partnership, it must comply with the provisions of the Competition Act and make sure that no restriction or distortion has been brought to the trade competition. Our attorneys in Norway can help you comply with the contractual conditions provided by the Competition Law so that you don’t cause a competitive disadvantage to third parties.
Provisions of the competition body in Norway
According to the Competition Act in Norway, several measures are explicitly prohibited for companies and institutions which function in this country. As such, any influence exerted on prices, discounts or mark-ups (the amount added by a seller to the basic cost of the sold product) are considered illegal. By relying on our attorneys in Norway you can be informed on those corporate actions which are forbidden under the Competition Law in this country.
If an investor collaborates or takes actions in order to influence tenders, or interfere with the free bidding process for the attribution of large projects, he/she is going to be sanctioned according to the provisions of the Competition Law in Norway. Unfair market sharing and any other associated undertakings which could lead to the restraint of free competition is considered as well illegal according to the Competition Body in Norway.
For more detailed information on the Competition Law in Norway, you are welcome to contact our Norwegian lawyers, who can explain you the local legislation provisions which regulate corporate behavior and business freedom in Norway.