what does a antitrust lawyer do

What Can Your Friendly Antitrust Lawyer Do for You?

• Antitrust and Business Litigation. Although much of our litigation is, in fact, antitrust litigation, much of it is not. ...
• Transactions and Mergers & Acquisitions. When companies merge or buy each other’s assets, antitrust issues may develop. ...
• Antitrust Counseling. ...
• Administrative Law and Government Antitrust Enforcers. ...
• C riminal Antitrust Law. ...

Full Answer

What does the antitrust law prohibit?

Antitrust laws prohibit a number of business practices that restrain trade. Examples of illegal practices are price-fixing conspiracies, corporate mergers that are likely to cut back the competitive fervor of certain markets, and predatory acts designed to gain or hold on to monopoly power.

What do antitrust laws allow the government to do?

Antitrust laws are statutes developed by governments to protect consumers from predatory business practices and ensure fair competition. Antitrust laws are applied to a wide range of questionable business activities, including market allocation, bid rigging, price fixing, and monopolies.

What are the three main antitrust statutes?

are:

• the Sherman Act;
• the Clayton Act; and
• the Federal Trade Commission Act (FTCA).

What do antitrust laws protect consumers from?

Antitrust legislation is essentially another type of consumer protection. The goal of such legislation is to protect consumers against unfair business practices that limit competition or control prices.

What is an antitrust law and what is its purpose?

Key Takeaways. Antitrust laws are statutes developed by governments to protect consumers from predatory business practices and ensure fair competition. Antitrust laws are applied to a wide range of questionable business activities, including market allocation, bid rigging, price fixing, and monopolies.

What do antitrust laws make legal?

Essentially, these laws prohibit business practices that unreasonably deprive consumers of the benefits of competition, resulting in higher prices for products and services. The three major Federal antitrust laws are: The Sherman Antitrust Act. The Clayton Act.

What is an example of an antitrust law?

An example of behavior that antitrust laws prohibit is lowering the price in a certain geographic area in order to push out the competition. For example, a large company sells widgets for $1.00 each throughout the country. Another company goes into business and sells widgets just in California or $. 90 each.

What does antitrust mean in law?

Antitrust refers to the regulation of the concentration of economic power, particularly with regard to trusts and monopolies. Antitrust laws exist as both federal statutes and state statutes. The three key federal statutes in Antitrust Law are the Sherman Act Section 1, the Sherman Act Section 2, and the Clayton Act.

Why is it called antitrust?

Antitrust law is the law of competition. Why then is it called “antitrust”? The answer is that these laws were originally established to check the abuses threatened or imposed by the immense “trusts” that emerged in the late 19th Century.

Who enforces antitrust laws?

The FTC's Bureau of Competition, working in tandem with the Bureau of Economics, enforces the antitrust laws for the benefit of consumers.

What is another word for antitrust?

antimonopolyIn this page you can discover 4 synonyms, antonyms, idiomatic expressions, and related words for antitrust, like: antimonopoly, , anti-competition and doj.

What companies have violated antitrust laws?

Some of the most infamous antitrust cases are discussed below.AT&T. AT&T is the longest standing telecommunications company in the United States. ... Kodak. Kodak is one of the biggest names in the camera and film business. ... Standard Oil.

What are the penalties for violating antitrust laws?

Punishment for Antitrust Law Violations Such violations constitute felonies. As such, they may be punished with heavy fines or prison time. Individuals may be required to pay up to $350,000 or have to spend up to three years in prison. Corporations can be forced to pay up to $10,000,000.

Is antitrust criminal or civil?

Although most enforcement actions are civil, the Sherman Act is also a criminal law, and individuals and businesses that violate it may be prosecuted by the Department of Justice. Criminal prosecutions are typically limited to intentional and clear violations such as when competitors fix prices or rig bids.

Which of the following is considered an antitrust violation?

The most common antitrust violations fall into two categories: (i) Agreements to restrain competition, and (ii) efforts to acquire a monopoly. In the case of a merger, a combination that would likely substantially reduce competition in a market would also violate antitrust laws.

What is antitrust law in real estate?

Sherman antitrust laws prohibit price-fixing, group boycotting, the allocation of customers or markets, and tie-in agreements. Price fixing is prohibited. This means that competing brokers, real estate governing bodies, or multiple listing organizations cannot agree to set sale conditions, fees, or management rates.

What is antitrust law?

Antitrust law is what prevents unfair business acts such as: Price -fixing: When a rival business colludes with one another to keep prices at a certain level, it is known as price-fixing. This practice enables the companies concerned to achieve higher profit margins to the detriment of the consumer.

Why is antitrust important?

Antitrust ensures that the market will remain a fair place to conduct business where every business has a chance, and every consumer has choices. Because antitrust law deals with business and economic knowledge, knowing specific market details could benefit antitrust lawyers when building a case.

What is the Clayton Antitrust Act?

The Clayton Antitrust Act is an expansion into an area the Sherman Act does not cover. This act explicitly prevents mergers and acquisitions that lessen competition that could lead to a monopoly. It also allows private parties to sue for damages and requires businesses to let the government know of mergers.

How much is the Sherman Act fine?

Fines for violating this act can span from $1 million to $100 million. The upper end of this range is usually reserved for corporations.

What is a monopoly?

This issue is the one that you're going to come across the most. A monopoly occurs when one business dominates an industry with no competition. It can include several underhanded tactics to maintain that domination, such as:

Is antitrust law a form of law?

Antitrust law can be an exciting form of law to practice . There are so many opportunities here and so many varied cases. If you're prosecuting offenders , finding sufficient evidence can be tricky. The large companies will usually try to bury you in paperwork to cloud the issue. So, do be prepared for doing a lot of research and digging.

Do attorneys have small teams?

Most firms of attorneys have very small teams working in this area. Where you are going to need help is in wading through all the paperwork. This is a job that most firms will set to their research teams or interns. It's not glamorous or particularly difficult research, but it is an essential part of the process.

What is antitrust law?

Antitrust Law. Antitrust law is the broad category of federal and state laws that are meant to keep business operating honest and fairly. Antitrust laws regulate the way companies do business. The goal is to level the playing the field in the free market and prevent businesses from having too much power. For the purposes of antitrust law, ...

Why are antitrust laws necessary?

Supporters say that antitrust laws are necessary in order to keep competition fair in a free-market economy. They say that businesses can’t be trusted to look out for the interests of society as well as their own interests. Preventing monopolies and collusion lowers prices for everyone, they say.

What are some examples of antitrust laws?

For example, a large company sells widgets for $1.00 each throughout the country. Another company goes into business and sells widgets just in California or $.90 each. In response, the first company lowers their prices just in California to $.80. They’re selling the widgets at a loss just in that state just to push out the new competitor. The second company goes out of business. The first company likely violated antitrust laws by using their large status to lower prices in just one area in order to attack the competition.

What is the Sherman Act?

In each case, the court has to look at exactly what happened and make a determination. The Sherman Act is the seminal law that prohibits antitrust behavior. Courts can pursue civil or criminal penalties that can include up to 10 years in prison and a $1 million fine for each violation. Businesses can face a fine of up to $100 million.

What does antitrust law prohibit?

What antitrust laws prohibit are acts intended to form a monopoly by using unfair tactics. The courts use what’s called the “rule of reason” test in order to determine if an act is unlawful. They consider the effect of the business decision on the market.

Why do antitrust laws ban dirty poker?

To put it another way, antitrust laws prevent companies from using dirty poker in order to stay ahead of the competition.

How much can a business be fined for violating the Clayton Act?

Businesses can face a fine of up to $100 million. They can also face a fine that equals twice the profits they’ve made from the unlawful activity. The Clayton Act is an antitrust law that followed soon after the Sherman Act and specifically identified certain prohibited behaviors.

Is antitrust compliance a smart idea?

Sometimes a company or association will want to develop an antitrust compliance policy. That is a smart idea, by the way. Other times the company will want to know if taking a certain action or developing the business a certain way carries antitrust risks.

Is the Federal Trade Commission an antitrust agency?

Finally, the Federal Trade Commission is kind of a big deal in the antitrust world. They are one of two federal antitrust agencies, along with the Antitrust Division of the Department of Justice. An antitrust attorney becomes an administrative lawyer when they have a client with FTC-dealings.

What Does an Antitrust Lawyer Do?

An antitrust lawyer is employed by individuals, businesses, and the government to make sure that companies follow antitrust laws. Some activities include:

How Can an Antitrust Lawyer Help Me?

Do you own a growing business? You may want to prevent future legal issues by hiring an antitrust lawyer advise your business transactions. A lawyer can give antitrust counseling, such as in a distribution agreement, a joint venture or merger. An antitrust lawyer can also represent you if your business is accused of violating antitrust laws.

How Much Does an Antitrust Lawyer Cost?

Typically, antitrust attorneys charge by the hour. Some may charge on a contingency basis, which means that you’re billed a percentage only if you win your case. If you don’t win, your lawyer won’t receive any payment. Since a lawyer runs the risk of not being paid, it’s likely you will only be charged a contingency if you have a very strong case.

What Should I Expect When Working with an Antitrust Lawyer?

An antitrust attorney should be honest about your chance winning your case and how long the process will take. If you do end up going to court, it’s a long and expensive proceeding. Even though your attorney will be able to guide you, you have to commit a lot to the case. Expert testimonies are necessary and will add additional costs.

What is antitrust law?

Jeff White, partner: The antitrust laws are about protecting competition and consumers. They have relevance to products and services sold on a daily basis, and without the antitrust laws we would undoubtedly see much higher prices for those same products and services, less quality, and less innovation.

Do partners rely on associates?

Partners will rely heavily on associates regardless of their year, although senior associates are more likely to take the lead on communications with the client or antitrust agency. “If a transaction triggers antitrust filings outside the US, antitrust attorneys often coordinate those filings and processes worldwide.”.

Why is antitrust law important?

At the abstract level, the law exists to protect consumers and businesses alike from companies that grow so large and powerful they can harm the markets—either by imposing artificially high prices, blocking competitors from offering better products, or both. That’s a perfectly fine idea, and in one form or another antitrust law has pursued ...

What is the power of antitrust law?

Antitrust law gives regulators the power to remedy both situations. Some antitrust statutes outlaw specific actions, such as collusion among companies to raise prices. Others give regulatory agencies the power to prevent or undo specific results, such as breaking up one large company into several smaller competitors.

What act was passed to protect against corporate misconduct?

The Federal Trade Commission Act of 1914. Individual U.S. states have their own antitrust laws for corporate misconduct that happens within their own borders. It isn’t unusual to see states and the Justice Department work together to bring one unified antitrust action against, especially large or high-profile offenders.

What is the Sherman Act?

The Sherman Act outlaws certain types of behavior that are anti-competitive, such as several companies conspiring to fix prices or divide a market. The Justice Department has the power to bring civil or criminal charges against the companies or the individual executives involved.

What are the anti-competition laws in the EU?

The European Union has its own set of anti-competition laws, codified in several articles of the EU’s founding treaty. Those laws try to address several abusive business practices: Cartels, where several companies work together to stifle competition. Market dominance by one firm.

Is antitrust enforcement separate from EU?

The United States and the European Union pursue separate theories of antitrust enforcement (the U.S. focusing more on harm to consumers, the EU more on harm to competition), so global corporations need to beware of both theories as they decide strategic questions about acquisitions, pricing, or product offering.

Will antitrust laws recede?

Antitrust law has been a mainstay of regulatory enforcement against large businesses for decades, and it will not recede any time soon.

Where do antitrust attorneys work?

Plenty of antitrust attorneys also spend their whole careers in government, including at state attorney general’s offices. And some antitrust attorneys land in-house positions, though only certain industries need in-house antitrust specialists, like pharmaceutical and tech companies.

What is antitrust law?

The practice of antitrust falls into several big categories: civil and criminal litigation, merger and transactional work, and counseling. Some antitrust lawyers specialize in one or two of these areas, while others maintain broad practices that cover all of them.

What is merger litigation?

Merger litigation, though uncommon, involves preliminary injunctions and moves at an intense pace. Class-action litigation tends to have a longer time horizon but can still involve time crunches around major milestones and, needless to say, becomes more fast-paced the closer it gets to trial.

What is the importance of good judgment in antitrust?

Good judgment is essential to be able to sort through the many gray areas that arise in antitrust and provide useful advice to clients.

What is the strong public policy element of antitrust?

The strong public policy element of antitrust means there are always interesting debates to be had about how aggressive enforcement should be, what types of business conduct the antitrust laws should address, and which economic and legal tools should be applied.

What is the best thing about antitrust?

Besides that, one of the best things about antitrust is that each new matter is an opportunity to learn an industry from top to bottom. Antitrust lawyers become experts in all kinds of surprising areas.

Is antitrust practice global?

The practice of antitrust is also ever more global, thanks to growing international operations and transactions, aggressive enforcers in Europe, and countries like China increasingly flexing antitrust enforcement muscle.