How can business owners avoid antitrust violations?

Business owners in Washington can avoid antitrust violations by understanding and abiding by the Sherman Antitrust Act. This act prevents companies from forming monopolies or acting in a way that would limit competition. It is important that business owners be aware of the three main sections of the Sherman Act: price-fixing, monopolization, and market allocation. Price-fixing is an agreement between companies to set the same prices for goods and services. This practice is illegal under the Sherman Act. Monopolization involves taking actions to create or maintain a monopoly in the market. This includes buying out competitors, engaging in exclusive deals, or buying up all the supply of a product. Market allocation is when companies divide up a market and agree not to compete with each other. Companies must also avoid practices such as bid-rigging, which involves secretly agreeing not to bid competitively on contracts. Business owners should also stay up-to-date on new antitrust laws in Washington. For example, the Washington Antitrust Act of 2017, approved by Governor Jay Inslee, prohibits companies from engaging in unfair practices that could limit or manipulate competition. Business owners need to ensure that their practices do not interfere with free competition and are in line with the applicable antitrust laws. They need to document activities and agreements in detail, and make sure that their pricing structures are not designed to benefit their own businesses over competitors. In addition, businesses should monitor competitors’ practices and consult with antitrust lawyers if needed.

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How can business owners avoid antitrust violations?

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