Competition means innovation: An introduction to the Competition Bureau
This guest blog post is provided by the Competition Bureau, an independent law enforcement agency that ensures Canadian businesses and consumers prosper in a competitive and innovative marketplace. Headed by the Commissioner of Competition, the Bureau is responsible for the administration and enforcement of the Competition Act, the Consumer Packaging and Labelling Act (except as it relates to food), the Textile Labelling Act and the Precious Metals Marking Act.
At the Competition Bureau, it's our business to ensure that your business and consumers can reap the benefits of competition, and that everyone is playing by the rules.
Healthy competition leads to lower prices, wider choice, and innovation. It provides a powerful incentive for firms to offer more new, different, or better products and services.
The Bureau protects and nurtures competition by enforcing legislation that applies to most business activities in Canada. Our responsibilities include:
- Ensuring truth in advertising: The Bureau promotes truth in advertising in the marketplace by encouraging businesses to provide sufficient information to enable consumers to make informed choices.
- Investigating cartels: Combatting secret agreements to fix prices or rig bids is one of the most important jobs for the Bureau. Cartels are illegal and can lead to higher prices, decreased product choice and less innovation.
- Preventing abuse of market power: “Abuse of dominance” occurs when a dominant firm (or a dominant group of firms) uses its market power in a way that hurts competition in the marketplace.
- Reviewing mergers: Mergers between businesses of all sizes and in all sectors are subject to review to determine whether they might result in a substantial lessening or prevention of competition.
- Advocacy: As part of its mandate, the Bureau participates in a wide range of activities to promote and advocate the benefits of a competitive marketplace, both in Canada and abroad.
- International cooperation: As more business is conducted across global markets, the Bureau's work has an increasingly international dimension. That requires collaborating with other competition agencies around the world on a regular basis.
Have a question? We can help!
The Bureau offers a variety of resources to businesses to help them recognize and prevent anti-competitive conduct, and comply with the law. Be sure to read our upcoming blogs on the topic of compliance to learn more.
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