The correct answer is C. Prevent monopolistic rights are arising out of intellectual property.
The Competition Act, 2002 is an Act to provide for the establishment of a Commission to promote and protect competition in markets, to prohibit anti-competitive agreements and abuse of dominant position, to regulate mergers and acquisitions, and for matters connected therewith or incidental thereto.
The objectives of the Competition Act, 2002 are to:
- Promote and protect competition in markets;
- Prohibit anti-competitive agreements and abuse of dominant position;
- Regulate mergers and acquisitions; and
- Provide for matters connected therewith or incidental thereto.
Option A, Encourage Competition, is one of the objectives of the Competition Act, 2002. The Competition Act, 2002 seeks to promote and protect competition in markets by prohibiting anti-competitive agreements and abuse of dominant position, and by regulating mergers and acquisitions.
Option B, Prevent abuse of dominant position, is also one of the objectives of the Competition Act, 2002. The Competition Act, 2002 prohibits abuse of dominant position by enterprises.
Option C, Prevent monopolistic rights are arising out of intellectual property, is not one of the objectives of the Competition Act, 2002. The Competition Act, 2002 does not prohibit monopolistic rights arising out of intellectual property.
Option D, Regulate mergers and acquisitions, is one of the objectives of the Competition Act, 2002. The Competition Act, 2002 regulates mergers and acquisitions that may have an adverse effect on competition in markets.