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of <h1>Understanding Key Definitions in Competition Act, 2002: Acquisition, Agreement, Cartel, Enterprise, and More Explained</h1> The Competition Act, 2002 defines key terms related to competition law. 'Acquisition' involves obtaining shares, voting rights, or control over an enterprise. An 'agreement' includes any formal or informal arrangement. The 'Appellate Tribunal' refers to the National Company Law Appellate Tribunal. A 'cartel' is an association limiting production or pricing. The 'Commission' is the Competition Commission of India. 'Consumer' refers to individuals purchasing goods or services. 'Enterprise' includes any economic activity entity, excluding government sovereign functions. 'Goods' and 'services' are defined broadly. 'Relevant market' pertains to product or geographic markets. Other terms like 'practice,' 'price,' and 'turnover' are also defined.
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