In the past two decades, there has been a considerable improvement in antitrust policy in Brazil, a phenomenon that can be explained by a combination of several factors. The reform of the legal basis in 1994 was the starting point for the introduction of significant changes. Law No. 8,884 brought new definitions and established an organised control of structures and conducts, aiming to restrict the abuse of economic power and to protect market competition. As a result, the institutional structure of the Brazilian System for Protection of Competition (SBDC) has undergone a consolidation process and today the three agencies responsible for competition policy are considered reasonably mature. It is important to point out the gradual construction of a ‘competition culture’, not only between agencies and entities within the government but also among the market players, which now assume competition as one of their management pillars.