Compliance and Regulation Law bilingual Dictionnary

Transparency

by Marie-Anne Frison-Roche

Transparency is not a natural state, it is not even a legal principle of classical law. Situations, persons and information are only made known to those who are in the same situation, for example the parties to the contract, but they are not known to third parties. Thus the contract is not transparent, consequence of the basic rule that distinguish the parties and third parties to the contract. In the same way, in an ordinary market of goods and services, there is business secrecy, the secrecy of factories, and the secrecy of the strategies that remain the principle, preserved by the competition authorities. Information and transparency play only on the prices offered, not even on how they are established.

 

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