what type of lawyer do i need when someone is monopolizing your buisness

Are business monopolies illegal?

In United States antitrust law, monopolization is illegal monopoly behavior. The main categories of prohibited behavior include exclusive dealing, price discrimination, refusing to supply an essential facility, product tying and predatory pricing.

How do you prove a monopoly?

As noted above, courts typically determine whether a firm possesses monopoly power by first ascertaining the relevant market and then examining market shares, entry conditions, and other factors with respect to that market.

What legally constitutes a monopoly?

A legal monopoly refers to a company that is operating as a monopoly under a government mandate. A legal monopoly offers a specific product or service at a regulated price. It can either be independently run and government regulated, or both government-run and government regulated.

What is the law that makes it illegal to commit the act of monopolizing?

Approved July 2, 1890, The Sherman Anti-Trust Act was the first Federal act that outlawed monopolistic business practices. The Sherman Anti-trust Act of 1890 was the first measure passed by the U.S. Congress to prohibit trusts.

Is monopolizing against the law?

In the United States, it is illegal for any person or entity to “monopolize any part of the trade or commerce among the several states, or with foreign nations.” But just because one might be a monopolist doesn't mean the law has been violated.

How do you report a business in monopoly?

PLEASE NOTE: To file a report about fraud, scams, and bad business practices, visit ReportFraud.ftc.gov. NOTE: E-mail is not secure. Confidential information should be marked “Confidential” and sent via regular mail.

Can you sue a company for being a monopoly?

Law Prohibiting Illegal Monopolies Under federal and some state laws, private parties (businesses or consumers) who were harmed by anticompetitive conduct can bring antitrust lawsuits seeking damages (in some instance treble damages) and injunctive relief.

What does monopolizing mean in law?

Monopoly is a control or advantage obtained by one entity over the commercial market in a specific area. Monopolization is an offense under federal anti trust law. The two elements of monopolization are (1) the power to fix prices and exclude competitors within the relevant market.

What happens if a company becomes a monopoly?

Under a monopoly there is only one firm that offers a product or service, experiences no competition, and sets the price, thus making it a price maker rather than a price taker. Barriers to entry are high in a monopolistic market.

What is the maximum dollar amount of the corporate fine for monopolizing trade?

$100,000,000Every person who shall monopolize, or attempt to monopolize, or combine or conspire with any other person or persons, to monopolize any part of the trade or commerce among the several States, or with foreign nations, shall be deemed guilty of a felony, and, on conviction thereof, shall be punished by fine not exceeding ...

Who breaks monopolies?

William Howard Taft: Break up all illegal monopolies by bringing lawsuits against them under the Sherman Act. 4.

What are the three key elements used by the courts to establish consumer harm from monopolies?

Attempted monopolization requires (1) anticompetitive conduct, (2) a specific intent to monopolize, and (3) a dangerous probability of achieving monopoly power.