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A covenant not to compete, or a non-compete clause, is an agreement in which one party agrees not to work for the other party’s direct competition in a specified area for a certain amount of time. While a covenant not to compete is generally found in an employment contract, it can be found in contracts for the sale of a business as well.
→ Read MoreThe definition of a refusal to deal or a concerted refusal to deal is an agreement between competing companies, or a company and an individual or business, to refuse to do business with another. A refusal to deal violates the Sherman Act and antitrust laws, and is illegal in the United States.
→ Read MoreMost legal terms or phrases have statutory definitions and interpretations by case law’the term monopoly power under the Sherman Antitrust Act is no different. What is formally monopoly power and what will eventually be considered monopoly power is defined by the definitions and regulations set out in the Sherman Antitrust, court interpretations, and administrative decisions through the Federal Trade Commission (FTC).
→ Read MorePrice fixing is a conspiracy between business competitors to set their prices to buy or sell goods or services at a certain point. This benefits all businesses or individuals that are on the same side of the market and involved in the conspiracy, as prices are either set high, stabilized, discounted, or fixed. Price fixing violates state and federal competition laws, which prohibits businesses collusion.
→ Read MoreThe Federal Trade Commission Act (FTCA) business regulations, originally passed in 1914, prohibit unfair competition by outlawing “unfair or deceptive acts or practices in or affecting commerce.” FTCA business regulations apply to all individuals and businesses engaged in commerce, even banks.
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