What is the law on anti-competitive practices?

In the state of Virginia, anti-competitive practices are prohibited by the Virginia Antitrust Act of 1980. This law makes it unlawful for businesses to collude with one another to divide markets or fix prices. This is sometimes referred to as “price fixing.” It also prohibits exclusive dealing, where businesses agree to purchase goods only from a certain seller, or to only sell goods to certain buyers. This practice is designed to create a monopoly and limit competition. Furthermore, this act makes it illegal for businesses to combine their assets, making a single enterprise that would otherwise be considered an anti-competitive practice. The Virginia Antitrust Act of 1980 also prohibits predatory pricing, where a business reduces prices to an unsustainable level in order to drive competitors out of the market. This is usually done with the goal of gaining a monopoly and ultimately raising prices to an excessive level. Finally, the Act prohibits tying arrangements, where a business forces customers to buy an item they do not desire in order to receive the item they do want. This type of arrangement can have the same effect as exclusive dealing in that it reduces competition and drives up prices. Overall, the Virginia Antitrust Act of 1980 makes it illegal for businesses to engage in any practices that limit competition, reduce choices, and raise prices for consumers. Such practices are prohibited in order to ensure a fair and competitive market for businesses and consumers alike.

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What is the law on anti-competitive practices?

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