The Antitrust Undertaking Commitment System in the United States: Consent Decrees and Consent Orders

Abstract

The undertaking commitment system originated in the United States and has gradually been adopted by other countries and regions following the global expansion of U.S. law after World War II. As an important mode of antitrust enforcement, it is of great significance in the swift restoration of fair competition market order, the effective enhancement of antitrust enforcement efficacy, and the efficient conservation of antitrust enforcement resources. In the United States, this system primarily takes two forms: consent decrees and consent orders. China likewise introduced this system in the process of learning from advanced rule-of-law experiences of the West and constructing a socialist legal system with Chinese characteristics, and has applied it extensively in antitrust enforcement practice. This article compares and introduces the antitrust undertaking commitment systems of China and the United States from three aspects: Part I provides a brief overview of the origin and basic theory of the antitrust commitment system; Part II focuses on analyzing the U.S. consent decree and consent order; and Part III examines China’s undertaking commitment system and its application.