Should the Philippines adopt an all-out introduction of a full-scale competition law and enforcement authority? Exactly when is the most appropriate time to adopt competition laws, that is, does the present stage of economic development of the Philippines warrant the adoption and enforcement of anti-trust/ anti-monopoly law? How should the small and medium-sized enterprises (SMEs) under a competition policy/law regime be treated vis-a-vis large enterprises? Given the perceived abuses arising from the adoption of anti-dumping measures resulting in anti-competitive impact, will anti-dumping measures against the unfair trade act of dumping be replaced by competition laws? The relationship between intellectual property rights and competition laws IPR generally grant monopoly rights; competition laws prohibit monopolistic conduct and business restrictions in principles. Extraterritorial application of competition laws although a degree of extraterritorial jurisdiction is inevitable in the face of today's transnationalized business activities, it may cause a conflict with sovereignty and policies of other nations. Harmonization of competition law In the era of globalizing economies and business transactions, there will be a strong need for harmonizing competition policies and laws of the world. There will be a variety of attempts including bilateral, plurilateral and multilateral negotiations and, in the long run, there may be a more harmonized competition law system. With a competition regime in place, will RP's national interest be better served or be exposed to the onslaught of multinational companies from developed economies?