The high risk of competition law infringements in all business sectors entails serious consequences for companies and their managers operating in the Baltic States. With that in mind, Sorainen competition law experts have developed a user-friendly tool to help business people understand the essence of competition law and prevent potential violations.
Sorainen introduces one of the first e-learning tools in the Baltic market suitable for users with no background in law in general and competition rules in particular. The course can be used as an introduction to competition law as well as a follow-up measure for those who already have some knowledge. The course is suitable for companies operating in any sector and for personnel at any level. Users can take the course individually at their own convenience – at any place and any time. In order to adapt the course to your individual needs, for users we offer a chance to ask course facilitators follow-up questions and receive tailor-made answers.
Comments Daivis Švirinas, head of the Sorainen Competition Practice Area: “In the business environment we observe a significant increase in understanding of the risks and consequences of competition law infringements. Competition-related risks are relevant for personnel at all levels as well as managers, so that companies need a universal and user-friendly tool to help prevent mistakes in their everyday business activities. We are proud to offer a much needed tool to help achieve this goal.”
Why is an understanding of competition law vital for your business?
- All companies are exposed to competition law risks.
- Infringements usually occur because of unawareness of competition rules.
- Competition law infringements are often proved by e-mail communications between company employees at different levels.
- The European Commission and national competition authorities are vigilant.
Consequences of competition law infringements in the Baltic States
- Heavy fines – up to 10% of annual turnover:
- in Lithuania approx EUR 19 million paid in fines in 2016;
- in Estonia the largest fine imposed on cartel participants to date is approx EUR 11 million;
- in Latvia the largest fine imposed on one company to date is EUR 5.8 million;
- disqualification from public tenders;
- personal liability of managers, ie fines and prohibition on holding a management position or even criminal liability (imprisonment for up to three years in Estonia);
- risk of damages claims by affected parties;
- negative impact on the company’s reputation.
- In Lithuania: Monika Mališauskaitë, Senior Associate
- In Estonia: Piibe Lehtsaar, Senior Associate
- In Latvia: Marika Grunte, Associate
Preview the course: