The Law against Restraints of Competition (GWB) of 1957, the German antitrust law (with the 7th amendment to cartel law, last amended on December 18, 2007), serves to protect free competition by prohibiting competition restrictions through certain agreements or measures.
Horizontal restraints of competition are brought about by entrepreneurs at the same economic level, vertical ones are those that are agreed between companies at different economic levels. The Act against Restraints of Competition (GWB) seeks to secure free competition through the following regulations:
- Grundsätzliches Verbot von Kartellverträgen (cartel) und sonstigen abgestimmten und wettbewerbsbeschränkenden Verhaltensweisen
- Merger control von Unternehmen mit marktbeherrschender Stellung sowie Verbot des Missbrauchs von Marktmacht (Missbrauchsaufsicht)
- Prohibition of Discrimination and Disability
- Prohibition of sales below cost price
- general prohibition of fixed prices