General Market Law (Spain)

The General Market Law (Ley de Defensa de la Competencia) in Spain aims to promote fair competition and protect consumers. It sets rules for businesses to prevent monopolies, unfair practices, and deceptive advertising. The law empowers the Spanish Competition Authority to monitor markets, investigate anti-competitive behavior, and impose penalties on violators. By fostering a competitive market environment, it ensures consumers have access to better products and prices, while also encouraging innovation and economic growth. Essentially, it creates a level playing field for businesses and safeguards consumer rights.