Competition is a public good and must be seen as a fundamental asset that contributes to a balanced and fair society and a market where opportunities are for everyone.
We often hear about competition. We understand the concept and its importance. But, after all, what is the real impact on people's daily lives?
The efficient functioning of markets presumes the existence of free competition. This free competition enhances competitiveness and increases the stimulus of companies searching for the best possible economic performance.
Greater competitiveness creates more productivity and better quality of products and services. Companies can satisfy consumer preferences and, consequently, attain a better position in the market.
The market grows steadily, and consumers benefit from lower prices and a more comprehensive range of goods and services.
Violation of competition rules harms consumers, the company's competitiveness, and the economy as a whole. That is why it is fundamental that everyone complies with the rules of the game.
The Competition Authority works as a referee, and its role is to ensure that all respect competition policies. Whenever it detects or receives a complaint regarding an anticompetitive practice, the Competition Authority investigates and, where it verifies the existence of such practice, imposes fines.
In Portugal, the AdC is responsible for analysing mergers and acquisitions and prohibits these operations whenever it considers that they may create a monopoly or impede market competition.
The AdC has an important role in competition advocacy and advises or issues recommendations to public decision-makers to implement legislation, regulations or administrative measures that promote open markets and equitable competition.