The "Crown Jewel" Term Of The Concentration Remedies Research

The "crown jewel" clause is restrictive conditions attached centralized system operators a measure mainly refers to restrictive conditions when additional stripping approved mergers, competition law enforcement agency may request the parties to constitute a commitment to release two different range asset package, if preferred stripping program fails, then start peeling alternative solutions. Crown jewel system is of great significance to reduce implementation risk management focus restrictive conditions attached. Prior to the formal establishment of the system, had already seen two cases apply the "crown jewel" of cases in terms of divestitures in 2009 and 2013 ("Mitsubishi Rayon acquired Lucite case" and 2013's "Glencore Xstrata acquired "case), which is China's" crown jewel "clause provides a wealth of practical material. 2014 issued by the Ministry of Commerce, "the operators to focus on additional restrictive conditions (Trial)" formally established the "crown jewel" clause Institution. The provisions of Article VII:Conditional notifying party preferred solution proposals risk can not be implemented, the Commerce Department may request review of a decision of the notifying parties propose alternatives based on the preferred solution. Alternatives should be more stringent than the conditions of the preferred solution, and can include tangible assets, intellectual property or related rights. Although China has met the "crown jewel" clause and apply the "crown jewel" clause cases already exists, but for such a young institution, legislation and law enforcement in the country there are many needs to the United States, European Union countries and antitrust reference areas where current Although unable to overcome the difficulties of the law, but simply clear and effective legislation to change the legislative process is also a long way. In addition, the United States, drawing on EU legislation of this system, it should be expanded to additional extension behavioral conditions among the cases, while the need to clear the "crown jewel" clause executor candidates, more important is the need to further establish and improve information disclosure mechanism.