. there must be an object, effect or probable effect of the conduct complained of on competition which is significant in the sense of a sensible meaning or relevant to the competition procedure. All agreements between competitors should raise the following common issues: `horizontal cooperation`, agreements or arrangements between undertakings operating at the same level of the supply chain, i.e. actual (or potential) competitors, for example. B a joint R&D project between competing technology companies or a sales and marketing joint venture between competitors. In contrast, «vertical» agreements are agreements between companies operating at different levels of the supply chain, for example.B. In December 2010, the European Commission published updated guidelines on the application of Article 101 to horizontal cooperation agreements (the Guidelines)1 Revised block exemption regulations have been adopted, which impose an automatic exemption under Article 101(3) for certain types of ngen»2 and «research and development agreements»3. While the exchange of information is not clearly anti-competitive «objective», competition authorities focus on their anti-competitive action (whether the intention of the parties) and focus on: standardisation agreements are described by the Commission in the Guidelines as agreements `aimed primarily at establishing technical or qualitative requirements aimed at establishing current or future products for the production of services or methods may be compliant.» In other words, they are common industry standards developed and agreed by standardisation bodies, associations or simply agreements between independent undertakings, which establish common requirements for services or products where compatibility and interoperability with other products and systems are essential or where minimum quality marks are required. Competitors considering an information exchange agreement are therefore more likely to escape competition concerns by ensuring that their agreement can only be considered anti-competitive from the outset by trying to justify it as a consumer-friendly agreement. . . .