Premium Essay

Philippine Competition Act - Brief Summary

In: Business and Management

Submitted By whitelover20
Words 764
Pages 4
REPUBLIC ACT NO. 10667 * Philippine Competition Act * Established to look into anti-competitive agreements and abuses of dominant position as well as review mergers and acquisitions. * A national competition policy that seeks to promote free and fair competition in trade, industry and all commercial economic activities. * The Philippine Competition Commission. * United States’ Antitrust Laws

PROHIBITED ACTS * Anti-Competitive Agreements Agreements between or among competitors where they limit their price of goods to be sold. Another thing is where they fix the price at an auction including bid manipulation and other forms of bidding * Abuse of Dominant Position
Constricts the competition between existing entities with their use of power or dominance over the first-hand players in the industry such that they lessen or lower their prices in order to gain more (predatory acts) * Anti-Competitive Mergers and Acquisitions
These are movements or acts referring to the tactics usually practiced by big players in the market to extensively prevent, restrict or lessen and manipulate competition.

PENALTIES * Chapter IV of the Republic Act under the 1987 Philippine Constitution
Administrative fines for the violation of Sections 14 and 15 under Chapter III and also Sections 17 and 20 under Chapter IV of the Act. * Section 29(b)
Failure to Comply With an Order of the Commission: An entity which fails or refuses to comply with a ruling, order or decision issued by the Commission shall pay a penalty of not less than fifty thousand pesos (P50,000.00) up to two million pesos (P2,000,000.00) for each violation and a similar amount of penalty for each day thereafter until the said entity fully complies.
Provided that these fines shall only accrue daily beginning forty-five (45) days from the time that the said decision, order or…...

Similar Documents

Free Essay

Act 1 Summary Essay - the Birthday Party

...The Birthday Party , Harold Pinter – Act 1 The Birthday Party by Harold Pinter is a play which explores many themes including binary options like insanity vs. sanity and even the conventions of society. In 1958 when “The Birthday Party” was first performed in London it received a lot of criticism due to the fact that it was very complicate to comprehend and the characters didn’t seem to have the same popular structure as many plays did in that time e.g. Stock characters\stereotypical characters, as a matter of fact the play was infested with characters who were suffering from a serious case of insanity. However as a modern audience of the birthday party people are more open to research into the deeper meaning of what Shakespeare was perhaps trying to portray under the surface of the plot. In Act 1 of The Birthday Party we are flooded with a wide range of mundane images but the dialogue used in the scene creates a strange atmosphere to what we would expect in an everyday environment. The act begins with the everyday situation of husband and wife sitting at the breakfast table alongside their tenant Stanley who joins them. Shakespeare tries to enforce the idea of realism in this act by using objects such as the tenant Stanley eating cornflakes and talking to the landlady Meg. However Shakespeare turns this around through conversation “Those lovely flakes? You’re a liar, a little liar” This is an abnormal way for a landlady to treat her tenant , the phrase “You’re a little...

Words: 797 - Pages: 4

Premium Essay

Case Brief Summary: Marbury V. Madison

...Case Brief Summary: Marbury v. Madison Robert L. Broadwater PAD 525 Strayer University Dr. O’Neal July 09, 2012 Summary of Marbury v. Madison, 5 U.S. 137, 1 Cranch 137, 2 L. Ed. 60 (1803). Facts The incumbent president Federalist John Adams was defeat in the presidential election by Democratic-Republican Thomas Jefferson. The day before leaving office, President John Adams named forty-two justices of the peace and sixteen new circuit court justices for the District of Columbia. This was an attempt by the Federalists to take control of the federal judiciary before Thomas Jefferson took office. The commissions were signed by President Adams and sealed by acting Secretary of State John Marshall but they were not delivered before the expiration of Adams’s term as president. Thomas Jefferson refused to honor the commissions, claiming that they were invalid because they had not been delivered by the end of Adams’s term. William Marbury (Plaintiff) was an intended recipient of an appointment as justice of the peace. Marbury applied directly to the Supreme Court of the United States for a writ of mandamus to compel Jefferson’s Secretary of State, James Madison (Defendant), to deliver the commissions. The Judiciary Act of 1789 had granted the Supreme Court original jurisdiction to issue writs of mandamus “…to any courts appointed, or persons holding office, under the authority of the United States.” Ironically, John Marshall later became Chief Justice of the Supreme Court......

Words: 1102 - Pages: 5

Free Essay

Consumer Act of the Philippines

...lawtube politics IP Law Tuesday, December 11, 2012 ChanRobles Virtual Law Library Home Law Firm Law Library Philippine Laws Jurisprudence Contacts CHANROBLES VIRTUAL LAW LIBRARY ? Law Library Philippine Laws, Statutes & Codes Philippine Supreme Court Decisions Significant Legal Resources WorldWide Legal Recources US Federal Laws, Statutes & Codes US Supreme Court Decisions The Business Page ChanRobles Virtual Law Library LawList - FREE LISTING DATABANK On-Line Bar Review cralaw_chanroblesbar MCLE: cralaw_lawnet DebtKollect cralaw_debkollect Intellectual Property cralaw_iplaw Chan Robles Virtual Law Library THE CONSUMER ACT OF THE PHILIPPINES - CHAN ROBLES VIRTUAL LAW LIBRARY Bookmark and Share Sponsored by: The ChanRobles Group A collection of Philippine laws, statutes and codes not included or cited in the main indices of the Chan Robles Virtual Law Library. This page features the full text of Republic Act No. 7394. REPUBLIC ACT NO. 7394 THE CONSUMER ACT OF THE PHILIPPINES TITLE I GENERAL PROVISIONS Article 1. Short Title. - This Act shall be known as the "Consumer Act of the Philippines." Art. 2. Declaration of Basic Policy. - It is the policy of the State to protect the interests of the consumer, promote his general welfare and to establish standards of conduct for business and industry. Towards......

Words: 29104 - Pages: 117

Premium Essay

The Challenge for Multinational Corporations in China: Think Local, Act Global – a Summary

...for Multinational Corporations in China: Think Local, Act Global – A Summary When multinational companies (MNCs) started to get entrance into the Chinese market, they were received with open arms. This includes them enjoying government privileges other local companies were not entitled to. The Chinese consumers also preferred goods from the MNCs, and not their local companies. This however, took a twist when in the year 2000, when the per capita GDP rose in the country to $1,000. The perception of the Chinese toward the MNCs changed further when China became a member of the World Trade Organization in 2001. Their earlier privileges were withdrawn, as even the Chinese started to embrace their local companies. Conditions ever since have become tight for the MNCs, as they are now expected to strictly adhere to the Chinese standards in their businesses. Although the MNC have positively contributed to the Chinese economy, much of their challenges lie within the framework of adapting to the local Chinese expectations in their business practice. For instance, it is important to be aware of the kind of advertisements to use, which cannot be considered offensive by the local Chinese people. Most MNCs have difficulty understanding the expectations the Chinese have of them, since the Chinese are sensitive people, with respect to moral integrity and social prestige. For the MNCs to survive in China, they must “think local and act global,” meaning they should conduct their business......

Words: 415 - Pages: 2

Premium Essay

Hussein V. L.A. Fitness International, Llc – Case Brief Summary

...Hussein v. L.A. Fitness International, LLC – Case Brief Summary Christopher G. Staton Columbia Southern University Facts On February 14 2009, Sahal Hussein became a member of a fitness club at a Chicago based L.A. Fitness, which is a chain of fitness centers headquartered in Irvine, California. On July 7, 2009, Mr. Hussein was visiting the Chicago based L.A. Fitness. During his visit, while using the upper and lower bar and movable and adjustable bench on an assisted dip/chin exercise machine, he fell, striking his head and body, and as a result, is now a quadriplegic. When becoming a member at L.A. Fitness, Mr. Hussein signed a fitness service agreement and release of liability form. Mr. Hussein filed suit against L.A. Fitness in 2010. The circuit court granted L.A. Fitness’ motion to dismiss the pleading as factually insufficient and allowed Hussein to replead. L.A. Fitness is a privately owned corporation which was under no obligation by law to accept Mr. Hussein as a member. Issues 1. Is Mr. Hussein’s negligence suit regarding serious personal injuries he suffered while using exercise equipment at a fitness club barred, under Minnesota law, by an exculpatory clause in his contract with the fitness club? Holding and Rule 1. Yes. Mr. Hussein doesn’t present much of a case. The law dictates that the courts reject Mr. Hussein’s lawsuit. Hussein’s complaint was dismissed pursuant to section 2-619 of the Code of Civil Procedure, which govern the......

Words: 538 - Pages: 3

Free Essay

Radtech Act of the Philippines

...Radtech Act Of 1992 February 18, 2009 Filed under: republic act 7431 — joseph @ 3:02 am RT Act of 1992 is also known as Republic Act 7431 (RA 7431), which defines important radiologic technology terms, as well as, establishes duties, rights, functions and responsibilities of the Radiologic Techologists. REPUBLIC ACT NO. 7431 AN ACT REGULATING THE PRACTICE OF RADIOLOGIC TECHNOLOGY IN THE PHILIPPINES, CREATING THE BOARD OF RADIOLOGIC TECHNOLOGY DEFINING ITS POWERS AND FUNCTIONS AND FOR OTHER PURPOSES. Section 1. Title. — This Act shall be known and cited as the “RadiologicTechnology Act of 1992.” Sec. 2. Statement of Policy. — It is the policy of the State to upgrade thepractice of radiologic technology in the Philippines for the purpose of protecting the public from the hazards posed by radiation as well as to ensure safe and proper diagnosis, treatment and research through the application of machines and/or equipment using radiation. Sec. 3. Definition of Terms. — As used in this Act the following terms andshall mean: (a) “X-ray technology” is an auxiliary branch of radiology which deals with the technical application of x-rays as aid in the diagnosis of diseases and injuries; (b) “Radiologic technology” is an auxiliary branch of radiology which dealswith the technical application of radiation, such as x-rays, beta rays, gamma rays, ultrasound and radio frequency rays, in the diagnosis and treatment of diseases; (c) “X-ray technologist” is a bona fide holder of a......

Words: 3129 - Pages: 13

Premium Essay

Competition

...Competition as an economic concept is as old as the history of economic thought itself, with its place in economic theory firmly entrenched early on. However, during the past decade which ushered in the age of globalization, new and increasing attention has been focused on competition in policy discussions around the world. “Competition” then became coupled as a matter of course with “policy.” It is not that radically new concepts are being formulated. Rather, a growing need for new approaches in “competition policy” is being felt because of its linkages with international trade that have become highlighted with the reduction of trade barriers around the globe. From the Philippine perspective, however, there also arises a growing need to understand its implications more fully, brought about not just by what is happening in the global arena but even more importantly by various comprehensive policy reforms that have been implemented by the government during the past decade or so. The reforms starting in the mid 1980s have done much to move the economy toward a more market friendly policy environment. Trade reforms, banking reforms, foreign investment policy reforms, deregulation, privatization, and the policy thrusts in general have explicitly and implicitly recognized the benefits from competition. It is thus timely to take stock of where we are and examine the state of competition and competition policy in the Philippines to help sustain and maximize benefits from the......

Words: 2654 - Pages: 11

Free Essay

Jones Act Summary

...MERCHANT MARINE ACT OF 1920 (THE JONES ACT) Source: Cornell University Law School, Legal Information Institute, United States Code: http://www.law.cornell.edu/uscode/html/uscode46a/usc_sec_46a_00000883----000-.html OVERVIEW: U.S. CODE 46 TITLE 46, APPENDIX App. > CHAPTER 24 CHAPTER 24—MERCHANT MARINE ACT, 1920 * § 861. Purpose and policy of United States * § 864a. Purchase allowance in sale of vessels for cost of putting vessels in class * § 864b. Elements considered in sale of vessels in determination of selling price * § 865. Sale to aliens * § 865a. Sale of inactive passenger vessels to foreigners; conditions; requisition in emergency; surety bond * § 866. Establishment and operation of steamship lines between ports of United States * § 867. Investigation of port, terminal, and warehouse facilities * § 868. Vessels sold under deferred payment plan; insurance * § 869. Creation of fund for insurance of interests of United States * § 871. Repair and operation of vessels until sale * § 872. Sale of property other than vessels * § 875. Possession and control of terminal equipment and facilities * § 876. Power of Secretary and Commission to make rules and regulations * § 877. Coastwise laws extended to island Territories and possessions * § 883. Transportation of merchandise between points in United States in other than domestic built or rebuilt and documented vessels; incineration of hazardous waste at sea ...

Words: 2522 - Pages: 11

Premium Essay

Competition Bikes Summary Report

...Competition Bikes, Inc. Summary Report Strengths and weaknesses based on horizontal analysis Strengths: There is a 33.3% increase of sales revenue from year 6 to year 7. This is a strength because sales infuse the company with money and allow the company to continue to fund its development of new products and grow the company. From year 7 to 8 there is an increase cost of goods sold of 31.8%. This may appear to be a bad thing because increasing costs are usually not what a company wants to do. However, in this instance the increased costs are a welcome sight because of the increase productivity and sales. As an added bonus to this strength the company is increasing costs at a slower pace than it’s increasing sales revenue. Sales was at 33.3% and costs of goods sold was at 31.8%. The company should identify how it’s able to increase sales while maintaining a lower increase in costs so they can continue to improve the bottom line. Year 6 to year 7 saw an increase of 154.6% in operating income. This is great for the business and an excellent strength. With this extra capital the company can re-invest in itself and continue to grow the company. The bottom line, or net earnings, saw an increase of 313.4% from year 6 to year 7. This is an awesome strength. At this point the company needs to continue to do whatever it’s doing to maintain such great growth. The company should make sure that it monitors it’s expenses and continue to re-invest in itself, innovate, and continue to......

Words: 6872 - Pages: 28

Premium Essay

An Abstract Is a Brief Summary of a Research Article

...An abstract is a brief summary of a research article, thesis, review, conference proceeding or any in-depth analysis of a particular subject or discipline, and is often used to help the reader quickly ascertain the paper's purpose.[1] When used, an abstract always appears at the beginning of a manuscript or typescript, acting as the point-of-entry for any given academic paper or patent application. Abstracting and indexing services for various academic disciplines are aimed at compiling a body of literature for that particular subject. The terms précis or synopsis are used in some publications to refer to the same thing that other publications might call an "abstract". In management reports, an executive summary usually contains more information (and often more sensitive information) than the abstract does. SEMIABSTRACT. : having subject matter that is easily recognizable although the form is stylized pertaining to or designating a style of painting or sculpture in which the subject remains recognizable although the forms are highly stylized in a manner derived from abstract art. International Painter David S. Painter (born 1948) is an associate professor of international history at Georgetown University. He is a leading scholar[1] of the Cold War and United States foreign policy during the 20th century, with particular emphasis on their relation to oil. Educational and career Painter studied history at King College (BA 1970), Oxford as a Rhodes Scholar (BA 1973), and the......

Words: 808 - Pages: 4

Premium Essay

(One Pager Summary) How Smart and Connected Products Are Transforming Competition

...• Smart, connected products offer exponentially expanding opportunities for new functionality, far greater reliability, much higher product utilization, and capabilities that cut across and transcend traditional product boundaries. • The phrase “internet of things” has arisen to reflect the growing number of smart, connected products and highlight the new opportunities they can represent. • What makes smart, connected products fundamentally different is not the Internet, but the changing nature of the “things.” It is the expanded capabilities of smart, connected products and the data they generate that are ushering in a new era of competition. • The first wave of IT, during the 1960s and 1970s, automated individual activities in the value chain, from order processing and bill paying to computer-aided design and manufacturing resource planning. • The second wave of IT enabled coordination and integration across individual activities. It allowed firms to closely integrate globally distributed supply chains • The third wave, IT is becoming an integral part of the product itself. Embedded sensors, processors, software, and connectivity in products, coupled with a product cloud in which product data is stored and analyzed and some applications are run, are driving dramatic improvements in product functionality and performance. • Smart connected products have three element: Physical, Smart, and Connectivity. Physical components comprise the product’s mechanical and electrical...

Words: 436 - Pages: 2

Premium Essay

A Brief Summary of the Aicp Code of Conduct

...I consider the Code of Conduct to be used as a platform of rules, or values, for CPAs while engaged in all types of assurance, non-assurance services, and should apply to all auditing functions in any given business environment, including government and non-for-profit companies. Furthermore, I feel the three key elements of the code that all CPAs should adhere to are the Integrity and Objectivity Rule, General Standards, and Acts Discreditable Rule. As a final point, could these codes of conducts also correlate to any Ignatian element of Spirituality? The first code of conduct I consider important deals with integrity, or being honorable, and objectivity, maintaining an open mind, while engaging in any services provided by a CPA. These traits hold the CPA accountable for any implicit misstatements of business information. This includes, according to Whittington and Pany (2015) “…directing others to make, materially incorrect entries in a client’s financial statements or records” (Whittington and Pany 2015, p90). Since CPAs firms may have subordinates, or non-CPAs, working for them they cannot or should not use their CPA authority to influence others in doing what could be contrived as unethical and or illegal actions. Without integrity and objectivity attributes, the public trust of a CPA will diminish. The second is the General Standards Rule and seems to govern four main aspects of any type of CPA work: competence, professionalism, planning and leading...

Words: 935 - Pages: 4

Premium Essay

Summary Philippine Literature

...Summary of Philippine Literature in English: Tradition and Change Due to the influence of the Americans after the Spanish-American War in 1898, Filipino writers started using English as the medium in writing literature. Main reasons for this were that English was not only used in all the schools in our country but it was also by people of high stature and by foreigners that come in and out of our country. Filipinos also became proficient with several languages as an advantage of being colonized by several countries for almost four centuries. This opened them up to the works and advancements of the different countries of the world. But not everyone was pleased with this. Some scholars claim that the Filipinos are becoming too westernized thus making them neglect their Asian values. English not only changed our medium of communication but also our way of life. And as a countermeasure for this, the government demanded the writers before to establish their own identities as Filipinos and to not be bound by the principles of Romanticism. Unfortunately writers still continued developing their skills in English thus resulting to them being truly westernized. Marcos’ political regime, EDSA revolution and the “Cory Miracle” were events that happened years after that not only influenced the Filipino’s history, but also their literature. Today, writers realized that enhancing their skill can aid them in the field of politics. The......

Words: 365 - Pages: 2

Premium Essay

Summary Report for Competition Bikes Inc.,

...Summary Report for Competition Bikes Inc., Horizontal Analysis The income statement from year 6 to year 7 sales went up by 33% while product costs, went up only by 31%. Selling expense (33%) and general operating expense (20%) both increased from year 6 to year 7. These increases did not offset the increase in sales, but help contribute to having greater profits in year 7 than the prior year. Net income grows by 313%. The balance sheets also show a growth in assets, with total assets increasing by 2.9%. Liabilities grow slowly, only increasing by 1.2% which is indicator of positive growth for Competition Bikes, Inc. When review the income statement from year 7 to year 8 sales went down by 15 percent, product costs went down by 14 percent and selling expense decreased by 15 percent, however general operating expense increased by 1 percent. The decrease in product cost and selling expense were not low enough to offset the decrease in sales resulting in a decrease in net income by 82%. The balance sheet shows total assets decreasing by -0.1%, but with liabilities also decreasing by -1.9% it offsets the impact of the assets decline. Vertical Analysis The vertical analysis shows the change between items of the balance sheet from year to year. Year 6 current assets represent 24.5 cents out of every asset dollar of the company and total liabilities are 47.5%. In year 7 current assets increased to 31.9 cents. This evidenced by the fact...

Words: 2239 - Pages: 9

Premium Essay

Hamlet Act I Summary

...Act I, scene i Summary On a dark winter night outside Elsinore Castle in Denmark, an officer named Bernardo comes to relieve the watchman Francisco. In the heavy darkness, the men cannot see each other. Bernardo hears a footstep near him and cries, “Who’s there?” After both men ensure that the other is also a watchman, they relax. Cold, tired, and apprehensive from his many hours of guarding the castle, Francisco thanks Bernardo and prepares to go home and go to bed. Shortly thereafter, Bernardo is joined by Marcellus, another watchman, and Horatio, a friend of Prince Hamlet. Bernardo and Marcellus have urged Horatio to stand watch with them, because they believe they have something shocking to show him. In hushed tones, they discuss the apparition they have seen for the past two nights, and which they now hope to show Horatio: the ghost of the recently deceased King Hamlet, which they claim has appeared before them on the castle ramparts in the late hours of the night. Horatio is skeptical, but then the ghost suddenly appears before the men and just as suddenly vanishes. Terrified, Horatio acknowledges that the specter does indeed resemble the dead King of Denmark, that it even wears the armor King Hamlet wore when he battled against the armies of Norway, and the same frown he wore when he fought against the Poles. Horatio declares that the ghost must bring warning of impending misfortune for Denmark, perhaps in the form of a military attack. He recounts the story of......

Words: 2719 - Pages: 11