Administrative Agencies
This law says federal agencies must publicly share all of their proposed rules, passed rules, and daily activities.
What is the Federal Register Act?
Passed all the way back in 1890, this is considered the most important antitrust law of all.
What is the Sherman Antitrust Act?
This term describes rules or agreements made between direct competitors who operate at the same level of the market.
What are horizontal restraints?
To prove a company has an illegal monopoly, courts check if they have "market power." This means they can exclude competitors and do what else?
What is control prices?
True or False: It is perfectly safe to pull a competitor aside at a trade meeting to chat about your company's upcoming price changes.
False
Before an agency can start making any rules, Congress must first give them the legal power to do so using this specific type of law.
What is an Enabling Act?
This 1914 law banned specific bad business habits like tying products together or having the same board of directors run competing companies.
What is the Clayton Act?
This strict legal rule means certain bad practices, like price fixing, are automatically considered completely illegal, no excuses allowed.
What is the per se rule?
True or False: If a company gets huge market power simply because they make a way better product that customers prefer, it is an illegal monopoly.
False
If your business offers special services or promotional discounts to buyers, you must make sure those deals are available to all competing customers on this type of basis.
What is a proportionally equal basis?
This major law keeps agencies transparent by forcing them to have open records and open meetings.
What is the Administrative Procedure Act (APA)?
This 1936 law makes it illegal to charge different buyers different prices for the exact same quality of goods just to hurt small businesses.
What is the Robinson-Patman Act?
What do you call it when competing businesses secretly agree not to sell their products below a certain price?
What is price fixing?
This illegal trick happens when a company won't sell you a product unless you promise to buy a totally different, extra product with it.
What is tying (or a tying arrangement)?
To protect yourself legally, you should be able to prove that you found out about a competitor's pricing from a neutral source, rather than getting it directly from whom?
Who is the competitor?
When an agency investigates a company, forces witnesses to show up, and brings charges against rule-breakers, it is using this type of power.
What are Executive Powers?
Section 5 of this law stops "unfair methods of competition" right when they start starting up.
What is the Federal Trade Commission (FTC) Act?
This happens when a group of competitors all agree to stop buying from or selling to a specific business.
What is a boycott?
This is a merger between two companies that are at different steps of making the same final product
What is a vertical merger?
Before your company fires a supplier or cuts ties with a customer, you need to make sure the termination is well-documented and backed up by what?
What are justifiable business reasons?
When an agency holds a trial for a rule-breaker, it acts like a judge. What are the three steps of this process?
What are Informal Settlements/Consent Decrees, A Hearing, and The Agency's Final Decision?
If two competing companies merge together and accidentally create an illegal monopoly, a court can order this to force them to break apart.
What is a divestiture order?
This is an agreement where a manufacturer forces a store to sell a product at a specific price.
What is Resale Price Maintenance?
Before two big companies are allowed to merge, they have to send a written warning to these two government groups.
Who are the Federal Trade Commission (FTC) and the Department of Justice (DOJ) Antitrust Division?
If you belong to a trade association where competitors gather, you should make sure this professional entity is monitoring your meetings and programs to keep things legal.
Who is competent legal counsel?