Empirical Study: The Urgency of Extraterritorial Principles in Business Competition Law in Indonesia

Abstract

Today's fast-paced economy makes business transactions seamless and seamless. Transactions are no longer only local, but also spread across countries. The economic system in this modern era 'obliges' a country to be able to properly apply business competition law. One of the functions of business competition law is as a means of controlling the abuse of economic power by business actors by preventing monopolistic practices and unfair business competition. Meanwhile, in Law no. 5/1999, the ICC has no extraterritorial powers. The research method used in this research is normative juridical by making Law No. 5 Year 1999 as the object of study.