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Unfair Business Practices
Written by: Manage Your BusinessArticle Overview: Many businesses will do almost anything to gain an edge on the competition. Without a clear understanding of antitrust laws, the price of gaining customers may be losing a business. Antitrust laws make it illegal to conspire to restrain trade or commerce in any marketplace, regardless of size. While small businesses often fall victim to the unfair business practices of larger companies, they can be prosecuted for unfairly dominating markets localized in cities, towns, neighborhoods, or niche industries.
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Unfair Business Practices
Unfair Business Practices
Many businesses will do almost anything to gain an edge on the competition. Without a clear understanding of antitrust laws, the price of gaining customers may be losing a business. Antitrust laws make it illegal to conspire to restrain trade or commerce in any marketplace, regardless of size. While small businesses often fall victim to the unfair business practices of larger companies, they can be prosecuted for unfairly dominating markets localized in cities, towns, neighborhoods, or niche industries.
* Conspiring to Fix Market Prices:
Discussing prices with competitors, even if it affects a small marketplace, may be construed as a violation of antitrust laws.
* Price Discrimination:
Using dominant industry power to secure favorable product prices from buyers, even though such prices are unavailable to weaker companies in the same industry, is generally a violation of antitrust laws.
* Conspiring to Boycott:
Conversations with other businesses regarding the potential boycott of another competitor or supplier may violate antitrust laws.
* Conspiring to Allocate Markets or Customers:
Agreements between competitors to divide up customers, territories, or markets are illegal. This provision applies even when the competitors do not dominate the particular market or industry.
* Monopolization:
Preserving a monopoly position through the acquisition of competitors, the exclusion of competitors to the given market, or the control of market prices are all in violation of antitrust laws.
More Information
Lawyers.com offers Guidance for small businesses . For official information, read the FTC's Plain English Guide to antitrust laws.
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About the Author: Manage Your Business RSS for Manage Your's articles - Visit Manage Your's website Successfully managing a business requires specific management skills in addition to knowledge of key business practices. Within this section you’ll learn about leadership traits, decision-making skills, and how to manage your employees. Additionally, we’ll walk you through a host of important topics to manage your business including: marketing basics, setting prices, filing your business taxes, legal considerations, forecasting for future growth, and financing options. Click here to visit Manage Your's website Borrowing Money Banker Key Questions Plain English Guide to Employee Handbooks 15 Foolproof Ideas for Promoting Your Company Staying InformedCurrent Advertising and Marketing on the Internet Rules of the Road |
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