11 March 2015
Prevention is Better than Cure
The impending commencement of Hong Kong's first cross-sector competition law brings to Hong Kong businesses a fresh challenge of managing competition law risk.
As the saying goes, "prevention is better than cure". Business performance is all about improving competitiveness in an evolving market. As competition lies at the core of business strategy, competition law risk management will inevitably become an element of success. The more you are alive to competition law considerations at the very inception of business strategy, the better you will be able to avoid the pitfalls and compete efficiently and intelligently at the outset.
Effective compliance generates value. Not only does it help you stay ahead of your competitors, it can also earn you a stellar reputation in the eyes of consumers and save you millions in avoidable legal cost. Knowing your rights can also protect your business from unfair competition, for example, if your competitors gang up on you.