Competition: Notion, types and legal safeguarding

Competition is one of the most useful phenomena in economic life. It is an economic phenomena, a subject of economic sciences, but given that the law defines the framework in which the economic activity is carried out and in which the economic phenomenon are being manifested, it is as well subject to the legal regulation. Given that the competition represents a general - social asset, it is safeguarded by the mandatory legal rules. Such rules make a special law branch, the competition law. The main components of the latter are cartel and antitrust law.