Concentrations of economic power in the hands of a few companies are what state and federal anti-trust law seek to avoid. Economic control injures both individuals and the public. Concentrated market power results in actions to try to obtain or maintain control of prices and profits, leading to high prices because of the limited number of companies supplying demand.
If you’re a consumer who feels your access to goods and services is restricted because of illegal business practices, or if you feel your company is being illegally locked out of a potential market because of the acts of one company, or multiple companies acting together, contact The Bloom Firm. We can help.
Because of how monopolies and trusts dominated America’s economy in the late 1800’s, Congress passed the Sherman Antitrust Act. It tries to combat anticompetitive practices, reduce market domination by individual corporations and foster unfettered competition. The Sherman Antitrust Act forms the foundation for most federal antitrust litigation as well as similar state laws.
Generally the acts that violate anti-trust law include,
- Monopolizing a market as well as attempting and conspiring to monopolize a market.
- Price fixing or artificially setting or maintaining the price of goods or services at a certain level, no matter what the price would be in a free market.
- Collusive bidding by two or more competitors who agree to set the bids for a project or contract at a certain level, at a price they otherwise would not have offered without the agreement.
- A tying agreement where a party agrees to sell one product only on the condition that the buyer agrees either to buy other products from the seller or not to buy those products from a competitor.
- A firm’s refusal to deal with another firm if the refusal is to try to monopolize the market. A group refusal to deal with a firm is known as a group boycott.
- Predatory pricing intended to eliminate competitors. This type of pricing would result in a short term loss by the producer in hopes of eliminating competition, then increasing prices after the competition is out of business.
If you think you or your business has been harmed by illegal, anti-competitive actions by one or more companies, contact The Bloom Firm so we can talk about the facts of your case and the applicable laws. There are time limits on filing legal claims so call before it’s too late.