The European Commission (EC) and the UK Competition and Markets Authority (CMA) have published novel guidance on the evaluation of cooperation between competitors. A pivotal shift is seen in the approach to assessing the legality of exchanging commercially sensitive information between competitors.
The updated guidance from the EC, encapsulated within the revised Guidelines on Horizontal Cooperation Agreements (EU Guidelines) integrates noteworthy changes to the legal assessment of information exchange between competitors. Simultaneously, in the UK, the approach forms part of the new Guidance on Horizontal Agreements (UK Guidance).
Under the new EU and UK guidance, an anti-competitive purpose would not automatically equate to prohibit information exchange. Instead, the guidelines delve into the concept that such exchanges could yield a beneficial economic efficiency, given specific conditions are met.
The shift in approach by the EC and CMA aims to provide clarity on complex legal areas and to aid businesses in confidently interacting with their competitors while maintaining competition law compliance. The revised EU and new UK guidelines on information exchange should prove an insightful resource for legal professionals across global corporations and law firms, requiring understanding of the evolving landscape of Anti-trust law.
For more comprehensive understanding of this development, please see this ellaborate analysis by law firm Allen & Overy LLP.