Theoretical discussions among competition lawyers and economists on the approach to Resale resale Price price Maintenance maintenance (RPM) and Vertical vertical Territorial territorial Restrictions restrictions (VTR) have often caused controversy. However, commentators agree that there is a lack of comprehensive study surrounding the topic. This book explores these two forms of anticompetitive conduct from legal, historical, economical, and theoretical points of view, focusing on the EU and US experiences. The author expertly goes beyond the current legal practice to explain, among other things, what approach should apply to RPM and VTR, and why RPM and VTR are introduced in situations where procompetitive theories would not make economic sense, or do not apply in practice. The book takes account of economic values, such as efficiency and welfare, as well as other values, such as freedom, fairness and free competition. Scholars and students of law will find the book’s depth of legal, economic and historical analysis to be a rich contribution to the scholarship. This book will also be of use to EU and US practitioners, and enforcers dealing with RPM and VTR cases.

Excerpt from Resale Price Maintenance Legislation in the United States The state which has enacted the most comprehensive legislation of all 13 California, which had added a law prohibiting sale below cost to its Fair Trade Law and its statute forbidding discriminatory discounts. The new law applies to all sales. Its price floor is not defined as clearly as that of the Retail Drug Control Act of Connecticut. The loss limitation act is stated to be an emergency measure, protecting manufacturers and distributors from bankruptcy caused by competitive sales at less than cost. Resale of liquidation stocks is so circumscribed as to prevent the disruption of a market with goods bought at distress prices. The California law prohibiting sale below cost is therefore a generalized enactment of all code provisions on cost protection. It is narrower in that it applies only, to intrastate transactions, and broader in that it includes even those industries which did not have cost protection in their codes. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.