Economic system in market economy

The definition of the relevant market(s) is a necessary first step in assessing whether an undertaking is dominant.

• The definition of the relevant market(s) is a necessary first step in assessing whether an undertaking is dominant.
• 2.3. In addition to its value in providing a framework for competition analysis, an appropriately defined relevant market may provide information that allows an investigation to be closed at an early stage. For analysis under Article 81 and/or the Chapter I prohibition, where an agreement involves undertakings whose combined share of the relevant market is low, the agreement is unlikely to raise competition concerns unless it contains price fixing, market sharing or bid rigging restrictions8 . Market definition is also important when assessing whether an undertaking's market share is below market share thresholds set out in certain block exemptions.
• 2.4. For analysis under Article 82 and/or the Chapter II prohibition, undertakings with low market shares will usually not possess market power individually. Therefore, an investigation of an individual undertaking whose market share is low can normally be closed at an early stage9 .

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