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ARTICLES
US Antitrust Laws
Competition is the heart of a healthy free market economy. Businesses need to be able to win over customers based on the merit of their products and services, not through the use of unfair or fraudulent practices. In an effort to keep our country’s economy operating as it is meant to, our government enforces a body of competition-related laws known collectively as antitrust laws.
It is very important for every business owner, from small startups to major corporations, to be familiar with these legal policies. This knowledge can help you avoid both allegations of illegal practices and unfair treatment at the hands of unethical competitors. To learn more about competition laws and how they affect your business, call Minneapolis business lawyers Skjold ▪ Barthel at 612-746-2560.
Anti-Competitive Behavior
When a business tries to claim an unfair advantage over competitors, this is known as anti-competitive behavior. Examples of behaviors that are illegal under federal law include:
- Price fixing and bid rigging: These are agreements between businesses to set prices of their goods or services at a certain level. This prevents consumers from finding reasonable prices and prevents fair competition between companies.
- Abuse of monopolies: A business may have a monopoly over a product or service if it significantly controls its supply. Monopolies are not illegal per se, but abusing this power for corporate gain can be strictly penalized.
- Boycotts: While consumers may boycott a business to force some kind of change, businesses themselves are prohibited from this behavior. It is illegal for businesses to boycott a certain supplier or potential partner as a way to coerce different prices or other changes.
These are just a few examples of the legal regulations concerning anti-competitive behaviors. Our knowledgeable Minneapolis antitrust lawyers can provide you with more detailed information.
Contact Us
Minneapolis antitrust attorneys Skjold ▪ Barthel can help your business avoid falling victim to litigation or unfair business practices. Contact our offices at 612-746-2560.