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This text provides a clear and well-argued introduction to the Competition Law of the European Community and the United Kingdom, dealing with the key substantive areas and procedural law, and discussing the relevant economic principles central to the application of the law. Including full commentary relating to the Competition Act 1998 and the relevant secondary legislation and guidelines, this text deals with articles 81 and 82 EC, the EC merger control regime, powers of investigation and enforcement and jurisdiction, as well as the role of private parties in the application of the law. Fully updated, this work offers comprehensive examination of the new UK regime, the EC Vertical and Horizontal Restraints Guidelines, reform programmes in the EC and UK, and the first decisions and cases taken under the UK Competition Act, including Napp and World Snooker. It also discusses the parts of the Fair Trading Act 1973 that remain in force. Common law rules are dealt with to the extent that they remain relevant. The book concludes with an exploration of the increasing problems of globalization. The text is designed to be ideal for anyone studying competition law, whether independently or as part of a degree course.