COMPETITION • EUROPEAN LAW • RESTRICTIVE AGREEMENTS
A gentlemen’s agreement is an informal agreement between two or more undertakings. It can be written, oral, express or implied. In the context of competition law, the concept of agreement only implies that the parties have agreed on a plan that limits or is likely to limit their commercial freedom by determining the lines of their reciprocal action or abstention from action in the market. Therefore, a gentlemen’s agreement may characterize an agreement within the meaning of Article 101 TFEU even if it is not binding.
